Research On The Influence Of The Financialization Of Garment Manufacturing Enterprises On Their High-quality Development

During the 14th Five-Year Plan period,China’s economic and social development needs to shift from the pursuit of high-speed growth to high-quality development.Enterprises are in the micro dominant position in economic development.Only when enterprises have vitality,high-quality economic development can have a source.Therefore,we must strengthen the understanding of the importance of high-quality development of enterprises.However,as the international market "two-way extrusion" and COVID-19 outbreak "double attack",our country manufacturing enterprise production cost is higher and higher,with a kinds of instability risk factors,make the development of extensive mode can produce marginal benefit less and less,combined with the innovation ability is not strong,manufacturing enterprise living space becomes more serious.In order to cope with the increasingly fierce market competition,many manufacturing enterprises have to seek new growth points of interests.In this context,many manufacturing enterprises make cross-border finance and constantly make financial investment,forming a vicious circle of more return and more investment.The financialization tendency of manufacturing enterprises is increasingly apparent,and the real economy is "hollowing out".This obviously does not meet the requirements of high-quality development in China.However,few scholars combine specific cases to analyze the impact of enterprise financialization on the development of enterprises with high quality.Therefore,starting from the main performance of high-quality development of enterprises,this paper studies the impact of enterprise financialization on high-quality development of enterprises from multiple dimensions,and puts forward targeted policy suggestions,which has distinct significance of The Times and practical significance.This paper first sorts out and defines the relevant literature and theories of enterprise financialization and high-quality development at home and abroad.Second,select the Hai lan Home,Hongdou Stock and Jiumu Wang for case study object,the present situation of domestic manufacturing enterprises financialization,process,motivation and financialization and correlation between manufacturing enterprise quality development of comparative analysis,from the perspective of value creation and value management,the three manufacturing enterprises financial investment on enterprise high quality development influence comprehensive evaluation.The study found that the profit-driven capital and management risk preference stimulate enterprises to increase financial investment,leading to the further amplification of unrelated diversification behaviors and the "crowding out" effect on the main business,which is not conducive to the high-quality development of enterprises.In addition,in view of the fact that different financial investment degree of Hailan Home,Hongdou Stock and Jiumu Wang cause different financial and non-financial indicators and eva trends,the following conclusions and suggestions are drawn:Enterprise financialization is actually a "double-edged sword";moderate financialization can effectively mobilize the liquidity of enterprise funds and improve the efficiency of assets;Excessive financialization will affect the value creation ability and value management ability,which is not conducive to the high-quality development of enterprises.In this regard,enterprises should pay attention to it,curb excessive financialization,consider long-term development,adhere to the original intention of financial service industry,and actively play the synergistic effect.Government departments should apply the remedy to alleviate the phenomenon of "real to virtual".