Moving Toward or Away From Each Other:The Current Concerns and Countermeasures of Real Enterprises Development with Financialization
In recent years,the financialization phenomenon of non-financial enter-prises in China has become widespread,which resulting in risk and challenges.Based on the sample data of publicly traded companies and their partially controlled financial institutions from 2001 to 2022,systematically studies the internal mecha-nisms,current status and trends of participating financial institutions of industrial enterprises.The results show that,the number of financial institutions partially controlled by the publicly traded companies has increased rapidly,mainly in capital intensive industries.These financial institutions are mainly banks and other finan-cial institutions.Specifically,the financial(accounting)companies of enterprise groups are more favored by industrial enterprises.There are practical problems in the operation process of industrial enterprises with financial institutions,such as relatively higher financial cost,the crowding-out effect on industrial investment,and the trend from real to virtual economy.Therefore,real enterprises should first clarify their functional positioning of financial services to the real economy with the concept of"industry oriented and finance instrumentalized",and support real busi-ness through innovative financial services and application of financial technology;Secondly,it is essential to establish and improve internal risk management and con-trol systems within real enterprises,fully implement regulatory requirements in the process of real enterprises financialization,and resolutely avoid systemic financial risks;Thirdly,the development direction of financialization of real enterprises is to improve integration efficiency,enhance the overall operational efficiency of produc-tion and financing,diversify financing capabilities,reduce financing costs,and final-ly improve the quality and efficiency of financial services for the real economy.
Financialization DevelopmentIndustrial EnterprisesFinancial Institu-tionsIndustrial Companies with Financial Institutions
国家科技期刊平台
NSTL
万方数据
