宝钢集团产融结合的效应分析

发布时间：2018-04-20 21:42

本文选题：产融结合 + 宝钢集团　；参考：《青岛大学》2017年硕士论文

【摘要】：当前我国正处在经济转轨的特殊历史时期,随着我国供给侧改革不停升温,传统产业和金融行业都面临转型升级的压力,企业集团纷纷选择产融结合作为提升集团运作效率和企业集团竞争力的重要手段。尽管产融结合成为企业集团实现跨越式发展的普遍选择,但其本身也是一把双刃剑,在实现资源的优势互补,带来降低交易成本,缓解融资约束等诸多利好的同时也加大了企业集团的经营风险和财务风险,这使得关注企业集团产融战略实施机制以及其对微观经济个体的影响这一问题更为关键和必要。宝钢集团作为我国产融结合的先驱者,其产融结合历程值得深入分析和研究。本文参考整理前人研究文献,运用归纳分析法、案例分析法以及实证研究法对宝钢集团产融结合历程及其效应展开研究,立足于我国产融结合当前状况,归纳总结出发展型、投资型、服务型三种产融型企业集团发展模式,并分模式分析其影响企业集团财务活动的作用机理,结合宝钢集团案例,划分出三个产融结合历程,之后对不同阶段宝钢集团产融结合进行历程分析、环境分析以及机制分析,比较不同阶段下产融结合对宝钢集团财务活动的影响,并基于DEA模型评价宝钢集团产融结合效率。本文基于宝钢集团产融结合案例的剖析总结成功经验,发现归纳宝钢集团产融结合存在产融结合模式选择具有阶段适应性,产融结合发展与商业模式创新相适应,产融结合与公司治理相配合的特点,并针对如何提高宝钢集团产融结合效率的问题从外部环境、集团层面两个角度提出建议,以期为我国产融结合研究提供参考。
[Abstract]:At present, our country is in a special historical period of economic transition. With the continuous heating up of supply-side reforms in our country, both traditional industries and financial industries are facing the pressure of transformation and upgrading. Enterprise groups choose the combination of production and finance as an important means to improve the efficiency of operation and competitiveness of enterprise groups. Although the combination of production and finance has become a common choice for enterprise groups to achieve leap-forward development, it is also a double-edged sword, which has brought about a reduction in transaction costs by complementing the advantages of resources. At the same time, it also increases the management risk and financial risk of the enterprise group, which makes it more important and necessary to pay attention to the implementation mechanism of the enterprise group industry and finance strategy and its influence on the microeconomic individual. Baosteel Group, as the forerunner of our domestic financial combination, deserves further analysis and research. Based on the current situation of China's domestic financial integration, this paper studies the process and effect of industrial and financial integration of Baosteel Group by using inductive analysis, case analysis and empirical research, based on the current situation of domestic combination of finance and industry, and summarizes the developmental type, which is based on the current situation of China's domestic combination of finance and industry. Three development modes of investment and service enterprise groups are analyzed, and the mechanism of their influence on the financial activities of enterprise groups is analyzed. In combination with the case of Baosteel Group, the three processes of combination of production and finance are divided. After that, the paper analyzes the history, environment and mechanism of the combination of production and finance in different stages of Baosteel Group, compares the influence of the combination of production and finance on the financial activities of Baosteel Group in different stages, and evaluates the efficiency of the combination of production and Finance of Baosteel Group based on DEA model. Based on the analysis and summary of the successful experience of Baosteel Group, this paper finds that the combination of production and finance has the stage adaptability, and the development of the combination of industry and finance is suitable for the innovation of business model. The characteristics of the combination of industry and finance and corporate governance, and how to improve the efficiency of the combination of production and finance of Baosteel Group from the external environment, group level two points of view, in order to provide a reference for our domestic financial combination research.
【学位授予单位】：青岛大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.31

【参考文献】