Research On The Path And Effect Of The Combination Of Production And Finance To Promote The Increase Of Corporate Value

Under the background of the new normal economy,the combination of industry and finance is regarded as an effective way for enterprises to solve capital problems and improve competitiveness.through the establishment of group finance companies or participating financial institutions,the integration of industrial capital and financial capital can be realized.On August 1,2016,the notice on organizing the declaration of industrial integration as a pilot city jointly issued by the Ministry of industry and information technology,the Ministry of finance,the people's bank of China and the China banking regulatory commission explicitly proposed the establishment and orderly operation of the docking mechanism of industrial information and financial institutions for three years or so,with a view to further improving the ability of financial capital to serve the real industry.Therefore,under the background of the gradual development and perfection of market economy and the active guidance of policy,more and more enterprises will realize transformation and upgrading by means of the strategy of combining production with finance in the future.Therefore,it is of great practical significance to analyze the path and effect of the combination of production and financing of enterprises in China to promote the increase of corporate value,with a view to providing reference and guidance for enterprises that will implement the integration of production and finance in the future.This paper finds that different modes of combination of industry and finance have different ways to influence the value of enterprises when implementing the strategy of combination of industry and finance.one way is to gain investment income and increase the value of enterprises by participating in holding financial institutions.Another way is to set up group finance companies to play the synergy of financial capital and industrial capital to improve enterprise value.Taking Shanghai automobile group co.,ltd.as an example,this paper analyzes the process of the combination of industry and finance,and emphatically analyzes the influence path and results of the combination of industry and finance on the enterprise value under the mode of setting up the group finance company.finally,it finds that with the deepening of the combination of industry and finance of SAIC group,the synergy effect of industrial capital and financial capital is more and more obvious.Through the case analysis of SAIC group's combination of production and finance,this paper holds that the combination of production and finance under the mode of group finance company can improve the value of the enterprise mainly including financial management and enterprise management,financial management: combination of production and finance can ease financing constraints,improve the efficiency of capital use,reduce financing costs,save financial costs;Enterprise management: group finance company to serve the group's main business as the core,through the development of supply chain finance can realize the common development of industrial capital and financial capital,mutual benefit and win-win,expand enterprise management,improve the core competitiveness of enterprises.At the same time,participating holding banks and other financial institutions may be over-investment because of blindly pursuing financial industry profits,ignoring the development of the main business,and group finance companies always to serve the real industry as the core,can help optimize and upgrade the supply chain,is conducive to the long-term development of the industry.Finally,based on SAIC's integration model of production and financing,it provides some lessons for other companies that want to combine finances.First,no matter what kind of integration model is used,companies must attach great importance to the high risks in the financial industry and stick to the main industry.As the core,the industry-led integration of industry and finance leads to the prevention of financial risks caused by blind expansion of financial capital,resulting in the breakdown of the capital chain.Second,the group financial company is an advantageous platform for group companies to develop supply chain finance.Enterprises must seize the opportunity to realize early The strategic transformation will promote the integration and upgrading of the supply chain.Finally,it will also need to strengthen the cultivation of compound talents and strengthen the monitoring and management of risks in the process of integration of production and finance.