Harbin Pharmaceutical Group Financial Coordination Effect Of Internal Capital Markets Research

The middle of the20th century, the United States appeared a big merger boom, the rise of some diversification as the leading enterprise group, the enterprise from a single management mode towards the diversification of development in the process of the formation of the internal capital market. For our country, the deepening of reform and opening up and socialist market economy progress to promote the diversification development of the enterprise. Some studies have shown that, compared with the external capital market, the internal capital markets have buffer financing constraints, reduce the financing cost, also is advantageous to the configuration of the internal resources. Also provided for establishing the supervision system for enterprise headquarters completely inside information, these are the advantages of external capital market does not have. Relevant internal capital market and financial coordination effect of internal capital market impact on the value of the enterprise become academia and practice research hot topic. So, the study of the efficiency of internal capital market in China, the enterprise financial coordination effect of internal capital markets research has important significance.Based on enterprise group to introduce the function of internal capital markets under the premise of comprehensive characteristics of internal capital markets, analysis of the emergence of the internal and external capital market capital market mechanism, and then discusses the internal capital market of Harbin pharmaceutical group of function and the success of the operation. For cash pool and yongjiaxian sanjing pharmacy in the importance of internal capital market of Harbin pharmaceutical group conducted a major study. For this, the research object of this article is specified for Harbin pharmaceutical group’s internal capital markets, financial coordinate effect of premise is that the ability of internal capital markets play a success. Avoid the now ubiquitous distortion of the internal capital market alienation phenomenon, the truth is the condition of internal capital market cross subsidy and interests rob is widespread, and the risk of enterprise group and financial crisis also increase gradually, the emergence of probability low level of corporate governance will also exert a negative impact to the function of financial coordination effect.Combined with the research of internal capital markets of Harbin pharmaceutical group. The focus of this article lies in perfecting the capital market and corporate governance under the premise of enterprise group how to using the financial coordination effect of internal capital markets to manage the enterprise internal conflict of interest between the components, strengthen the competitiveness of the enterprises, improve the efficiency of resource allocation and business level to promote stable and healthy development of enterprise group.