Reasearch On The Intergration Of Industry And Finance Synergistic Effect Of Electric Power Enterprise Group

In recent years,under the guidance of the SASAC's policy orientation,central enterprises developed integration of industry and finance one after another.In the process of integrating industrial capital and finance capital,synergistic effect was achieved,and to enhance the profitability of enterprises.But the high risk of the financial industry also increase the business risks of enterprises.GE announced to peel parts of finance capital that have no connection with industry off,it give us some sense of how we choose from the finance capital,the high risk or the high income.Central electric power enterprises have the character of large capital,they growing so fast on integration of industry and finance,but during its development,they keep expanding the market share,pursuing the total assets,investing financial firms,those investment didn't pay off,because of the synergistic effect didn't work.Power industry,the stats' s monopoly trade,needs to enhance the synergistic development between industrial capital and finance capital,to avoid the high risk of finance risk.This paper start with analysis on the development of synergy effect in energy industry,the structural equation is constructed by using synergetic theory,found the relationship between enterprise profitability and industrial capital,finance capital is obtained.Then taking the Datang corporation as an example,to study the synergy effect in the process of integration of industry and finance.Only static synergy was found,on the basis of the synergistic effect didn't work out complete,then the causes are analyzed and suggestions are given.