The Research Of Guangdong Enterprises Investment Behavior In The Period Of Industrial Transformation And Upgrade

In December2007, the10th second plenary meeting of Guangdong Province partycommittee was held, it uncovered the prelude of the full implementation of thetransformation and upgrade of Guangdong’s industry, so the period after December2007isset as the transformation and upgrading of industry. From the literature research, I found noresearch literature about industry transformation and upgrading of Guangdong enterpriseinvestment behavior, but the research for Guangdong enterprise investment behavior in thisperiod can provide the basis and the reference to test the effectiveness of Guangdong currentpolicies and measures in this period,and also for the government and enterprise,it plays alead role angles to better and faster realize the transformation and upgrading of Guangdongfrom different point of view. Therefore, the research of enterprise investment behavior inthe period of industry transformation and upgrading of Guangdong has a vital significance.In the article, I first look up the research literature of current Guangdong, foreign anddomestic other areas of the transformation and upgrade for industrial, and conclude todomestic and international enterprise investment behavior research, also explicitly point outthat this article studies enterprise investment behavior from three aspects: the enterpriseinvestment motivation, investment direction and the strength, the investment decision-makingmethod. Second, according to the research content, from the current Guangdong enterpriseinvestment environment analysis, and combined with the influence factors of enterpriseinvestment behavior theory study, puts forward the Guangdong enterprise investmentbehavior of related research hypotheses. And the third, based on the research hypotheses,design a questionnaire. According to the results of the survey, using a variety of statisticalanalysis method, and introducing SEM model to research enterprise investment behaviorinfluencing factors on the influence degree of quantitative values. Finally, according to theresults of analysis, Suggestes to promote the industry transition upgrade work developmentfrom the government and the enterprise two sides.According to the results of analysis, I get the main conclusions that enterprise investmentbehavior of Guangdong in the period of industry transformation and upgrading as follows:(1)the characteristics of Guangdong enterprise investment behavior: in investment direction andenforcement, Guangdong enterprise investment is influenced by the industrial guidance policyin this time, and is related with the understanding levels to the policy, the more theyunderstand the enterprise to policy, the greater the influence by the policy, and more tend toinvest to encouraged project; In the investment motivation, the period Guangdong enterprise investment motivation is profit target for the leading still, pay attention to improve marketshare and the implementation of the strategy of developing the company; The difference is,this period Guangdong enterprise response industrial policy investment motives obviously,but the past results (Pan ming xia,2009) indicate that the government recommended projectsare the lest valued by enterprises; In the investment decision-making method, this periodGuangdong enterprise used in the investment decision-making most frequently is the scienceof accounting method yields, followed by subjective judgment method, the method of staticpayback period, most scientific method (NPV, IRR method and dynamic capital is recovered)but row last; Also found that the higher degree of the managers, the use of investmentdecision-making method is more scientific;(2) In the enterprise investment behaviorinfluencing factors, using SEM model analysis, conclude the value of each factor to theenterprise investment behavior influence degree, from these values, we can see that thebiggest influence is policy environment, economic environment factors and the influence ofthe enterprise itself influence little;(3) most of the enterprises understand somewhat aboutgovernment policy, but in general, the depth of understanding is not enough;(4) most ofGuangdong enterprises have begun to recognize some of the important policies for enterprisedevelopment is very important, such as the making of the brand, technology research anddevelopment and the application of information technology, etc, and are more positiveconform to the needs of the investment environment and increase investment in these aspectsof the investment;(5) the policy in the period for enterprise investment is helpful, the mosthelpful to some is also the most need to solve the difficulties of the enterprises.I hope that this research conclusion may provide certain reference for the realization ofGuangdong industry transformation and upgrading better and faster.