온라인 증권거래의 수익성 분석과 활성화 방안에 관한 연구

Abstract

A Study on the Profitability Analysis of Online Securities Trading and its Activation Plans

Kim, Ji Tae Supervisor : Professor Kim, Kyou Yung, Ph.D Department of Managerment Graduate School of Business Chosun University

This study analyzed the profitability of online securities trading by korean securities firms based on financial statements and suggested activation plans for online securities trading in the korean securities industry. The major findings and suggestions can be summarized as follows. First, this study frnds that there is no significant difference between the profitability of large securities firms and that of small securities firms. Second, this study shows that the profitability of foreign securities firms is much higher that of domestic securities firms. Third. this study finds that the profitability of the top 3 securities firms is much higher that of the rest of securities firms. Fourth, this study shows that it is difficult to raise market shares if securities firms by reducing brokerage fees. Fifth, this study finds that the higher the proportin of online trading by securities firms is, the lower the profitability of securities firms becomes. Finally, it is suggested that korean securities firms can increase their profitability through both the development of new financial products and the provision of differentiated custmer service rather than brokerage fee competition.