Research On The Impact Of Production And Integration On Business Performance And Risk Control

With harmony refers to the industrial and commercial enterprises and financial enterprises in the economic operation for the common development goals and the overall benefit,through equity participation,holding,holding,and personnel to participate in such as way of internal combination or integration.It is the capital of the industry development to a certain extent,seek diversification,capital virtualization,so as to upgrade the capital operation of a trend,but also seek to diversify,quickly become bigger and stronger,and promote the competitive power important way.With the deepening of China's economic integration into the international economy,the combination of production and integration has become a basic strategic choice for Chinese enterprises to improve their international competitiveness.Based on the Chinese oil group company as an example,this paper expounds the China's industrial enterprises,particularly oil and natural gas enterprises with melting of the motivation and development models,such as setting up financial companies,holding Banks,joint-stock non-bank financial institutions,set up financial holding platform,etc.,are analyzed with melting effects to our group of companies operating performance,including the financial sector's contribution to the group's profits,in the whole group before and after the combination of solvency,the change of the profit ability,operation ability,and the financial position of the financial sector,etc.The research shows that there is a significant improvement in the solvency of China petroleum corporation.This integration is conducive to optimizing the regulation effect of the national financial policy,and the micro level is conducive to the rapid flow of industrial capital and the efficiency of capital allocation.With the deepening of the integration of production and integration,the proportion of enterprises participating in the financial institutions is increased,and the impact of the combination on the business performance of enterprises will also increase.Although at present domestic regulators on melt doesn't have a clear policy,but it has been seen as "cultivate internationally competitive large enterprise groups" of the "rite of passage,learn the lesson of".Of course,the combination of production and integration is not a panacea.From the analysis of the case study,it is not significant to improve the profitability and operational capability of CNPC.Moreover,there are many risks and negative effects in the effect of the combination of production and integration on the performance of enterprises.For example,the combination of the production and integration of large enterprise groups has the risk of developingcomplex internal related transactions,and the risk of unreal and virtual.In the face of such risks,the paper puts forward the emphasis on internal connection transaction risk,avoid to produce be in harmony with real to virtual,relying on the entity industry development of financial industry,improve the production step by step according to the functions of supervision and administration institution and policy recommendations.In the process of research,this paper comprehensive use of case method,literature induction,comparison analysis and other methods,summarized the production combination of portfolio theory,synergy theory,value chain theory and related theory.Based on the analysis of China petroleum group company with melting case study illustrates the extracted oil company to produce the combining model of development,production and impact on its business performance and related risk prevention and other issues.In our country,due to the policy can't investment banking industry,bank capital and industrial capital,so the current way of creating harmony combined with the development of large group enterprises in our country can't down the "produced by melting and mainly is the" harmony "by production path of development.At the present stage,China's production and integration of the industrial group is engaged in financial business,namely "industrial investment finance".The author thinks that compared with the international large multinational group with melting,our country enterprise with melting at present is still in a relatively primary stage,including oil and gas enterprise,also is weak in terms of capital operation,risk control ability is still low,with melting depth and breadth of with large foreign multinational group and there are large gaps when compared with actual needs,the organic integration of industrial capital and financial capital,risk control and related regulatory policy remains to be further development and perfect.