The Study on Transformation Strategies for Securities Brokers under the Environment of Electronic Commerce

First, literature related to EC and securities brokers has been reviewed and used as the basis of developing theoretical framework of this project. Second, this project conducts a survey, from the views of the transformation factors and transformation strategy both , on the domestic securities brokers about the current status and future directions of their business in on-line brokerage.

Statistical methods including factor analysis , cluster analysis, ANOVA, and regression analysis are applied to find the transformation factors and transformation strategies for the on-line brokerage and to compare the differences among the different types of on-line brokerage. This study reveals that: 1.The value of the top management is the main factor that prompts traditional brokerage firms to initiate on-line trading business. 2.Technology strategies are the most important consideration for traditional brokerage firms when they implement on-line trading. 3.There is a significant difference between transformation strategies implemented by brokerage firms with different factors of transformation. 4.There is no significant difference between business performances of brokerage firms with different transformation strategies. 5.The added value of product, organizational change management, and diversification strategies have significant impacts on business performance. 6.The implementation time of on-line trading has a significant impact on business performance.