The Study On Enterprise Cluster Governance And It's Investment And Financing Coorporation

In recent years, the advantages of clustering through competitive (or low) costs have been on a decline.Conflicts in the demand and supply of capital have consequently rendered it imperative that an enterprise upgrade its industrial status on the basis of innovation and technology. On the base of conducting one cluster- governance theory, this study addresses local co-operations amongst clusters of enterprises from a financial management perspective.Co-operations between financing and investment can reconfigure financial resources of the clusters, enhance financial capabilities of the enterprises involved, and help an enterprise achieve the scope or range of investment and financing. However, the classic financial management theory fails to account for such financing and investment co-operations across the enterprises because of its conventional wisdom or assumption that financing and investment activities normally occur within the boundaries of an entity. This paper, addresses the motivation for a cluster of enterprises to develop cooperation by the approaches of mathematical models, theoretical analysis and case analysis,then, constructs a theory framework about cluster governance to guide the investment and financing cooperation. Finally, the corresponding investment and financing mechanisms of cooperation are advised.In result, facing the common crises, the enterprises should cooprate each other,so that they can get new profit chance.Exploring financing difficulty and failures in technological innovations for clustering enterprises from the view of cluster governance, mining industrial clustering effect from finance point, this paper has a strong novelty, as the four followings:Firstly, this thesis builds up the basic theory frame of cluster governance and enriches the efficiency theory of cluster. Cluster governance theory is a unity composed inherently by governance concept, and connotation of subject and object, management objectives and governance logic elements. A notion of interaction, cluster governance originates from the idea of nurturing competitive strengths. Civil chambers of commerce, that is, self-regulated organizations with elitist advocacies and government support, should become the entity of governance in the clustering of enterprises. Enterprise relationship is the object of cluster governance, and cluster surplus maximization is cluster governance target. The interwoven operation of price, authority and trust is the logic of enterprise cluster's operation. In the end, the basic frame is built up which is based on governance concept, guided by governance objective, threaded by governance logic. And under the basic frame, governance subject arranges the governance object, and the basic frame has the horizontal linkage and longitudinal linkage.Secondly, this thesis proposes that credit and financing cooperation is the strategy tool which builds up financing mechanism from the angle of organization form transition of borrowers. Financing cooperation enhances the financing capability by enlarge the enterprise size. On account of chain of clusters, concentrations of clusters and enterprises clustered by means other than chains and concentrations, this thesis proposes that A chain of clusters (e.g., clustering through chambers of commerce) is a suitable mode of collaborative financing through horizontal credit cooperation; concentrations of clusters (e.g., clustering around a core enterprise) are effective for collaborative financing through vertical credit cooperation; whereas enterprises clustered by means other than chains and concentrations could opt for collaborative financing on the basis of voluntary participation and mutual benefits and interactions. Compared to structural reformations of financial institutions, these innovations in the organizational mode of financing are pro-active and of greater practical value for an enterprise to move beyond the dilemma in cluster financing.Thirdly; this thesis claims that technology innovation cooperation is the strategy choice to enhance the status of cluster industry, taking up the slack of individual enterprise's R&D capability and R&D resources with the help of "resultant force". Technology innovation is essential to upgrading the cluster industry and enterprise transition. R&D is the source of technology innovation, and the limitation of R&D capability and R&D resources make it is essential to make technology innovation cooperatively. Common technology can be researched by government, enterprise and school. Competent technology can be researched by enterprises which has longitude linkage based on "cluster industry technology innovation center".Finally, this thesis claims that inter-enterprise's investment and financing cooperation widens the boundary of finance. Enterprises' iner-cluster investment and financing cooperation is some kind of border crossing finance activities which bring about the financial perspective from internal to external, from microcosmic towards madhyamika.