The Study On The Effectiveness Of Chinese Non-Financial Listing Corporations’Financial Combination

Financial-industrial combination is a dynamic development process, where industrial capital and financial capital penetrate and fuse together to complement and promote each other. With the development of economy, more and more Chinese non-financial corporations enter in the financial fields. But the evaluations from academic circles are different. This paper is aimed at ana-lyzing and summarizing the effectiveness of financial-industrial combination in China in both theory and practice, in order to provide new thinkings and sug-gestions for the development of financial-industrial combination and enterprises in China.This paper mainly studys in the following four aspects from the angle of enterprise performance. The first is the theory research of financial-industrial combination and it mainly includes the literature review, concept, characteristics and pattern of financial-industrial combination and the concept and judgment standards of the effectiveness of financial-industrial combination. The second is the empirical research of Chinese non-financial listing corporations’ financial-industrial combination. It designs a hierarchical structure model of non-financial listing corporations’stragetic performance evaluation, which makes a three-dimension balance between growth, value-creation and risk-prevention. Then it computes corporations’strategic performance scores through AHP (analytic hierarchy process) and analyzes the basic characteristics and effectiveness of Chinese non-financial listing corporations’financial-industrial combination. The third aspect is case study of non-financial listing corporations’financial-industrial combination both in China and aboard. The cases contain America’s GE Group, Japan’s Mitsubishi Group and China’s Haier Group. The last part is strategy research about how to improve the effectiveness of Chinese non-financial listing corporations’financial-industrial combination. It gives advices both from macroscopical and microcosmic perspectives.