Research On The Influence Of Industry And Finance Integration On Enterprise Innovation Performance

International Trade and cross-border investment are affected by factors such as increasing political uncertainty and Global trade tensions.The global manufacturing industry is continuously weak,and the lack of demand also restricts the development of the global economy.In this context,China’s consumption demand structure has been optimized and continuously upgraded,the proportion of service consumption has increased,and consumption is still the main driving force of economic growth.In recent years,the innovation of product technology in China’s manufacturing industry has accelerated the exchange of the old for the new,the development of 5g technology has also promoted the upgrading of product structure,and the systematic and scenario attributes of products have been further strengthened.However,the technological innovation development of enterprises is still faced with the problems of low efficiency of capital allocation,long innovation development cycle and high innovation risk.The combination of industry and finance can weaken the above problems through the layout of financial sector,further promote the improvement of enterprise innovation performance.Therefore,in this context,this paper explores the impact of the integration of industry and finance on innovation performance,and takes Haier Zhijia as the case study object.First of all,through combing the past research literature,this paper defines the concept of combination between industry and finance and innovation performance,analyzes several modes and implementation motivation of combination between industry and finance,as well as the influencing factors and metrics of innovation performance,and then finds out the relationship between combination of industry and finance and innovation performance.Moreover,this paper takes the resource-based theory,the capability-based theory,the transaction cost theory and the synergetic effect theory as the basis of the research on the combination between industry and finance and the innovation performance.Secondly,before the case analysis,this paper introduces the combination of white goods industry and Haier Zhijia,highlighting the advantages and characteristics of Haier Zhijia different from other household appliances enterprises.Next,this paper focuses on the Haier Zhijia production and finance combined with the impact of innovation performance analysis.First,it is found that Haier Zhijia implements the combination of production and finance in order to alleviate the financing constraints and produce synergistic effects.Second,enterprises provide long-term and stable capital supply to innovative projects by increasing internal and external capital investment and reducing financing costs.Moreover,Haier Zhijia trains and encourages R&D personnel,establishes innovation platform,increases acquisition and cooperation,thus enhances self-R&D ability.The above two points fully prove that Haier’s ccombination between industry and finance has a positive impact on the performance of innovation process.Third,after combing Haier Zhijia patents,innovation awards,green innovation and other aspects,we find that the combination between industry and finance can increase the performance of innovation activities.At last,this paper draws a conclusion that the combination between industry and finance does have a positive impact on the innovation performance of enterprises.And while enterprises vigorously develop the combination between industry and finance,they should also innovate the mode of it,reasonably guard against the risks that financial development may bring,and make the financial industry innovation breakthrough.Through the research of this paper,we hope to bring realistic reference value to the implementation of the combination between industry and finance in China’s enterprise groups,and further promote the combination between industry and finance to help innovation input and innovation output,so as to improve the overall innovation performance of enterprises.It also provides theoretical reference for future research,and practical advice for relevant departments to support and supervise the combination between industry and finance,improve the mode of it,and control financial risks.