Research On The Synergistic Effect Of Combination Of Industry And Finance In Enterprise Group

Based on the deepening of the reform of state-owned enterprises and the gradual improvement of financial market openness,the combination of industry and finance is becoming an effective way to upgrade the strategic transformation of the entity industry Group.In our country,the model of combination of industry and finance is no longer confined to the single model of the Bank-Enterprise union,but it is widely covered invarious business areas of the financial industry,including fund and financial leasing,etc.However,due to the late start of China's combination of industry and finance,the related research is not mature enough,On how to achieve a better combination of industry and finance,and create cross-industry synergies,so as to promote the common development of industry and finance is still an urgent problem to be solved.Therefore,this paper takes ChenMing paper to set up a financial leasing company as an example to explore its successful combination model,and to use this for other enterprises with background similarity to provide reference.This paper states research background and meaning,retrospects the related researches on the synergistic effect of combination of industry and finance,and summarizes the basic theory of the synergistic effect of combination of industry and finance.And from the perspective of financial leasing,This paper further puts forward the general path and evaluation method for the realization of the synergistic effect of combination of industry and finance.Combined with the case of ChenMing Group,analyzing the implementing paths of management synergy,operating synergy and financial synergy,and evaluating its implementation effect.In the aspect of management synergy,this paper analyzes the two ways of unifying internal financial leasing business and strengthening intra-group cooperation,and evaluates the management synergy effect from two aspects:cost management level and asset management level.The analysis shows that the two aspects of Chenming paper industry have been improved obviously and a better management synergy effect has been realized.As to operating synergy,serving the subsidiary of whole industry chain and internalization capital market had been analyzed.The research shows that the profitability has been greatly improved,the growth ability and market power have also been improved,and a relatively good management synergy has been achieved.In the aspect of financial synergy,coordinating financial activities and using the financial leasing to decrease enterprises tax are analyzed.Evaluating the financial synergy effect from the perspectives of capital costs effect and tax-efficient effect.The analysis shows that the two aspects of Chenming Paper are obviously strengthened and the financial synergy effect is realized effectively.Finally,this paper summarizes the experience of ChenMing Group's combination of industry and finance and comes up with several notices in order to help other enterprises propose to realize the combination of industry and finance.This article holds that improving the efficiency ofcompany management,serving the subsidiary of whole industry chain and integrating the internal financial resources are important experiences from realizing synergistic effect of the combination of industry and finance.In addition,the enterprise group should pay attention toimproving the talent reserve,especially with the compound talents of finance,trade,management and law.In addition,while the Industry-Finance Group should pay more attention to improving internal control system except the market effect,so that we can better carry out the follow-up integration work in order to realize the synergistic effect fully.