網路券商關鍵成功因素之研究

Abstract

台灣網路下單市場從86年自大信證券起跑，迄今已有4年的時間。網路下單市場的佔證券市場成交量比率，從零至今的7.73%。可預見的未來網路下單是整個證券市場未來的趨勢。 本研究目的，就是將台灣地區的網路券商區分成數個不同的業務經營模式群組。再找出關鍵成功因素，同時根據各個不同業務經營群組來檢視對關鍵成功因素重視程度上的差異。 本研究所採用的資料收集方式是以電子郵件問卷來實施，實際寄達問卷74份，總計回收30份，總回收率40.54%。影響網路券商的關鍵成功因素可分為五個構面討論，包括技術發展能力、企業形象、組織管理能力、顧客服務、商品多樣化。並得知各群組對技術發展能力、商品多樣化的重視程度上有差異。 最後本研究對券商提出四項建議： 1.券商應推廣低成本的下單方式。 2.網路下單是未來的趨勢，傳統營業員應轉型為投資理財顧問。 3.大型券商建立跨國性交易平台，著手進行受託買賣外國有價證券業務，使業務收入來源多元化。 4.建議拓展法人業務。

The internet stock trading service in Taiwan was first started by Ta-Hsin Securities Firm in 1997, and has been lasting for four years. Growing from zero to the current 7.73%, the ever increasing rate of internet stock trading amount to overall stock trading amount proves that the internet stock trading is the foreseeable trend for the stock trading in the whole Taiwan stock market in the near future. The purpose of this research is first to categorize internet brokers in Taiwan into groups of various business models, and then to explore the key success factors for each group and rate the importance of the factors in each group. This research collects data for statistical analyses via questionnaires in emails. There are 74 questionnaires sent through email, and 30 replied copies returned. The return rate of the questionnaire is 40.54%. Through factor analysis, five critical success factors of internet stock brokers are extracted and the importance of these five factors, which include the technology development competence, the enterprise image, the organization management capability, the customer service, and the product versatility, are rated differently by different group. In conclusion, this research concludes with the following four suggestions: 1.Securities firms should promote the low-cost trading. 2.As it is the trend of online trading, the brokers in securities firms should seek to transform from being as a broker into being as an investing and financing management advisor. 3.The large securities firms should consider establishing an international trading platform, on which services for trading foreign valued bonds or stocks are commissioned, so as to broaden the sources of business revenue. 4.Securities firms should seek to provide more services for institutional investors.