| 摘要: |
| 国内交易所在自身规模不断扩大和金融业双向开放力度加大的背景下，纷纷实施“走出去”国际化发展战略，参与全球竞争。鉴于交易所行业的特殊性，行业国际化水平的评价体系与其他行业无法混用。本文通过文献调研和业务分析，梳理出6大类一、二、三级指标，并通过旋转矩阵分析、因子分析等方法进一步优化简化指标，概括成管理能力国际化、业务能力国际化、引领能力国际化、货币支撑能力国际化四个维度，形成新的一二三级指标体系。最后通过问卷评价国内交易所与国外同要素交易所的国际化差距，结合前述指标体系和同行差距调研结果，提出国内交易所治理能力、国际定价影响力、信息披露与国际化接轨、监管方式国际一致、技术能力国际化、国际化先天优势能力等方面的强化路径，并给出针对性的意见建议。 |
| 关键词: 交易所行业；国际化；指标体系 |
| DOI： |
| 分类号:F832.5 |
| 基金项目:上海金融学会2019青年课题“优化大宗商品现货交易基础设施，促进金融机构FICC业务发展”。 |
|
| An Investigation Study on the International Development Index and Path Selection of Domestic Exchanges |
|
WANG Li-min，LU Guan-ping
|
|
Shanghai Gold Exchange
|
| Abstract: |
| In the context of the expanding scale and increasing two-way opening of the financial sector，domestic exchanges have implemented the strategy of “going global” to participate in global financial market.Therefore，it is important to study the evaluation system of the internationalization level of Chinas exchanges.In this paper，we investigated the literature the internationalization evaluation system of exchanges and analyzed the internationalization path of various exchanges.Then an evaluation index system was presented，which sorted out six categories of first-level index system，21 second-level indexes and 70 third-level indexes.After obtaining the index system，we designed a questionnaire and analyzed the questionnaires received.Firstly，70 three-level indicators were further screened，and 25 three-level indicators of relatively important internationalization were obtained.After that，rotation matrix analysis and factor analysis were carried out and ten indexes are selected out which were more important in internationalization.By the processing，the indexes were summarized into four dimensions：internationalization of management ability，internationalization of business ability，internationalization of leading ability and internationalization of monetary support ability，which formed a new first-two and three-level index system.Finally through questionnaires we evaluated the gap between the domestic exchanges and foreign exchanges on internationalization.After the analysis，we put forward the proposal to strenthen the international capability in 6 aspects.The comprehensive Suggestions were presented at last. |
| Key words: Exchange Sector;Internationalization;Index System |
