Research On The Impact Of Financial Flexibility On The Value Of Medicine Manufacturing Listed Companies

The pharmaceutical manufacturing industry has gradually developed into an emerging pillar industry in China,which is closely related to economy,politics,and people’s lives.In recent years,while the pharmaceutical manufacturing industry has created a large amount of social wealth,it has also been frequently affected by internal and external environments.The increasingly complex economic environment has endowed the meaning of financial flexibility to reserves.A reasonable amount of financial flexible reserves can help companies make flexible decisions and adapt to complex and changeable economic environments;corporate value reflects the company’s effective use of resources in two aspects: tangible resources and intangible resources.And the ability of reasonable allocation is an important indicator to reflect the competitiveness of the company in the industry.Therefore,it is necessary for the company to maintain appropriate financial flexibility,enhance risk resistance,stabilize corporate value,and enhance industry competitiveness in order to achieve sustainable and healthy development.Starting from theory and practice,this paper analyzes the role of financial flexibility in the field of pharmaceutical manufacturing,explores the impact of reserve financial flexibility on corporate value,and promotes pharmaceutical manufacturing to better respond to changes in the economic environment,which has both theoretical and practical significance.On the basis of relevant theories and literature reviews,this paper studies the impact of financial flexibility on corporate value through the combination of empirical analysis and case analysis.In terms of empirical research,the entropy method was used to measure the financial flexibility of listed companies in the pharmaceutical manufacturing industry,and multiple regression was performed using industry panel data.The analysis found that the overall level of flexible reserves in the industry was low,and some companies had excessive reserves;The enterprise value of listed companies in industry has an inverted U-shaped impact,only a moderate reserve of financial flexibility can achieve the goal of increasing corporate value,especially under the influence of economic policy uncertainty,excessive reserve financial flexibility will affect the industry.The enterprise value of listed companies has a negative impact.In terms of case analysis,Changchun High-tech as a representative company conducted a specific case analysis,which further verified the industry rules,the listed companies in the industry can alleviate the uncertain environment on the basis of reasonable management,investment,financing and distribution activities by reserving financial flexibility.impact on firm value.Finally,based on the research findings,suggestions are proposed from both micro and macro levels to enhance the company’s value through the rational use of financial flexibility.