Research On The Mitigation Of Financing Constraints Of YX Group Based On Collectivization Operation

At present,most of China's enterprises have different degree of financing constraints.The financing constraints will restrict the investment activities of the enterprises,and make the enterprises miss the good investment opportunities,which is not conducive to the maximization of the enterprise value.Therefore,how to alleviate the financing constraints has become one of the focus of the academia and the business community.At the same time,both large state-owned enterprises and new private enterprises have embarked on the development path of collectivization operation.As an important form of economic organization,enterprise groups play an increasingly important role in the market economy system.So,can group operations be one of the ways to mitigate financing constraints?How should the enterprise implement the group operation to mitigate financing constraints?Therefore,studying the theoretical mechanism and specific measures to alleviate financing constraints by collectivization operation can not only enrich related academic achievements,but also have certain guiding significance for the management of enterprises.On the basis of theoretical and literature research,this paper carries out a case study to alleviate the financing constraints of Yuexiu group based on the group operation.First of all,starting from the financial constraint of internal capital market theory,transaction cost theory and information asymmetry theory,research and model group operation ease financing constraints and the specific mechanisms based on;qualitative and quantitative analysis of financing constraints and then the financing constraint metric principal component model in the face of Yuexiu the group,after the financing constraints on Yuexiu group's reasons for a detailed analysis;finally based on the group operation ease financing constraints theory model design of Yuexiu group specific measures to ease financing constraints and the construction of the modified group operation feedback mechanism.The group operation applied to the enterprise financing constraints problem,theory constructs a theoretical model of group operation ease financing constraints and combining with the case and put forward some specific measures,hoping to provide reference for the research of domestic enterprises to ease financing constraints problem.