Research On Financial Degree And Influencing Factors Of Non-financial Enterprises

The trend of financialization has gradually accelerated in the past three decades,and the influence on the global economy has become more and more important.It is not only the " economic financialization" of the macro level,but also the "corporate finance" at the micro level.At present,China's economy is in the transition period,many non-financial enterprises to get rid of the shortcomings of the real economy will look to the financial market,to seek high returns,improve profitability.But the financialization of enterprises is a "double-edged sword",in improving the business situation at the same time,there are huge negative effects,so understand the degree of financial development of non-financial enterprises,whether the physical economy has been harmful,What are the influencing factors that are very important.This paper starts with the financial analysis of non-financial enterprises.First of all,from the theoretical analysis,this paper defines the financialization of non-financial enterprises,combs and summarizes the domestic and foreign literature on financial measurement index system and enterprise financial motivation,Secondly,describe the characteristics of the financial content of non-financial enterprises,select the financial asset holding ratio,the proportion of financial income,the proportion of financial investment,the three indicators of the current non-financial financial degree of financial measurement,and from the theoretical level of non-Finally,according to the theoretical analysis and related literature analysis,select the relevant variables that affect the financialization of enterprises,and select the Shanghai and Shenzhen A-share non-financial listed companies to conduct empirical research.Through the empirical research,it is found that:(1)the level of financialization of non-financial listed companies in China has been fluctuating,the overall level is still relatively low,and there is no more serious "deviation from the main business" phenomenon,but the individual industry financial level is rising trend.(2)the impact of different industry entity yield and equity concentration on the level of corporate finance are different,there are significant differences in the level of corporate finance.(3)For the general business,when the lower the rate of enterprise production rate,the higher the degree of financial management of non-financial enterprises.(4)The lower the degree of equity ownership,the higher the degree of financialization of non-financial enterprises.