Research On The Influence Of Financing Efficiency On The Transformation And Upgrading Of Manufacturing Enterprises

Along with the increasing production mode to labor-intensive products manufacturing enterprises of our country traditional becomes more difficult to adapt to the current economic environment,through the transformation and upgrading of products to improve economic value added to the traditional manufacturing industry,to seize a favorable position in the market,in order to realize our country more powerful in manufacturing.Based on the application requirements of intelligent manufacturing enterprise digitalization and automation devices and systems,with the help of computer and network,integrated artificial intelligence technology,automation technology,intelligent manufacturing equipment,modern management technology,manufacturing technology,information technology and system engineering to introduce artificial intelligence into the manufacturing process,which put forward higher requirement of the enterprise.Based on the analysis of the related literature,the impact of manufacturing enterprises to upgrade the macroeconomic factors are mainly financial development and technological innovation,at the same time,the enterprise’s management level will also affect the transformation and upgrading of the level of.Therefore,combined with the concept of financing efficiency,this paper argues that the financing efficiency is the key factor of the transformation and upgrading of manufacturing enterprises.In the empirical research process,this paper first collected the financial data of listed companies of China’s manufacturing industry and the financing efficiency in 2012-2014,using the three stage DEA model to measure the financing efficiency.After collecting the 2012-2014 annual rate of financial,technological innovation,direct investment and other data,and combined with the financing efficiency before measurement,using VAR model,analyzes the influencing factors on the upgrade of manufacturing industry enterprise transformation.The empirical results show that the financing efficiency of manufacturing enterprises in our country play a positive role in the transformation and upgrading,huge at the same time,technological innovation plays a positive role,but the effect is small;at the same time,financial related rate plays a reverse role.Accordingly,this paper puts forward some suggestions to improve the financing efficiency and strengthen the technological innovation at the end of the article,in order to promote the transformation and upgrading of China’s manufacturing enterprises.