Research on Economies of Scale in Securities Firms

Author: Feng Enxin
Publisher:
Publish Date: 2005-05-01
Features: This book applies corporate strategic management theory to analyze the opportunities and challenges faced by China's joint-stock commercial banks. It provides detailed elaborations on aspects such as organizational restructuring, market positioning, operational strategies, marketing, risk management, internal management, and banking culture, proposing that China's joint-stock commercial banks should, based on comprehensive capabilities, rationally allocate resources, select advantageous industries and markets, and pursue specialized and personalized development paths. Additionally, it describes the development directions of joint-stock commercial banks in terms of internationalization, specialization, and networking.
By comparing and analyzing the formation, asset scale, business scale, revenue, and profit indicators of securities companies in countries such as the United States, Japan, South Korea, and Thailand, as well as in regions like Taiwan and Hong Kong, the book draws the conclusion that securities companies exhibit economies of scale. It also provides a detailed analysis of their characteristics and numerous influencing factors.
Building on this foundation, the book conducts a systematic study of the scale development journey of China's securities companies over the more than ten years since their establishment. Through theory, data, models, and case studies, it comprehensively examines the economies of scale issue in China's securities companies and systematically proposes target orientations and six major pathways to achieve economies of scale. Furthermore, it includes panoramic case studies of Merrill Lynch and Haitong Securities.