| The integrated circuit industry is the foundation of the electronic information industry.In the context of intensified trade friction between China and the United States,it has brought new opportunities for the development of China’s integrated circuit industry.At the same time,in order to support the development of the integrated circuit industry,government guided funds have emerged.Government guided funds have become an important tool for solving corporate financing difficulties and cultivating strategic emerging industries,making key investments in the integrated circuit industry to promote its development.Previous research has focused on the operational performance of government guided funds themselves,with little attention paid to the role of government guided funds in investing in enterprises.However,the impact of government funds on enterprise performance is also noteworthy.Based on this,this article evaluates the performance of integrated circuit enterprises against the background of government guided fund investment.This article starts with case analysis from four aspects: control performance,financial performance,market performance,and innovation performance.30 evaluation indicators are selected,and a performance evaluation system is constructed using fuzzy analytic hierarchy process.SMIC International is used as the research object to conduct a comparative evaluation of the performance of government guided fund investments before and after.Research has found that SMIC has increased R&D investment after government guided fund investment,promoting the growth of the company’s R&D capabilities,achieving a significant increase in patent applications and authorizations,and improving the innovation performance of the company;The second is to inject capital into enterprises with the support of government guided funds,and introduce social capital to solve the financing difficulties of enterprises,enabling them to achieve financing "hematopoiesis",and also promoting the development of profitability,debt repayment ability,and development ability;Thirdly,with the support of government guided funds,there has been a guiding effect,which has improved the market performance of enterprises,expanded the domestic market,improved market competitiveness,and the stock market has also performed well;Fourthly,the control performance of integrated circuit enterprises under the support of government guided funds is not significantly effective,and its effect is only reflected in the stability of equity structure under the participation of large funds.Based on comprehensive research conclusions,the following inspirations are drawn: firstly,integrated circuit enterprises should seize the dividends of large funds,accelerate innovation and research and development,achieve enterprise upgrading,and ultimately promote the development of the entire industry chain;Second,IC enterprises should seize market opportunities,adjust strategic planning,improve their market value,enhance market competitiveness,and gain market share;The third is to develop leading enterprises,create a good development environment,play a role in promoting industry development.Through this study,we hope to provide ideas for the construction of a performance evaluation system for integrated circuit enterprises supported by government guided funds. |
