The Analysis Of Internal Capital Market Operation Mechanism And Efficiency From Refocusing Strategic Perspecrive

With the rapid development of diversification strategy, a large number of enterprise groups have become one of the main forms of enterprise organization. However, in recent years, the emergence of a large number of enterprise groups in the global capital market due to excessive diversification lead to capital operation, capital chain rupture case. More and more companies began to rationally look at the risk of diversification strategy, the group’s business development more cautious, and even began to focus more on the core industry, by a high degree of diversification on the road to the development of nuclear.It should be noted that the presence of the internal capital market business groups will also be affected by strategic change, adjusting the internal capital works to assist in achieving strategic goals. Because of the external capital market is not mature, the role of internal capital markets will become more prominent, and enterprise groups in China is different from the overall foreign-listed company, the main structure of the internal capital market is more complex, so our enterprise group internal capital markets mechanism should not copy the experience of Western countries, and to be considered based on the actual situation of our country, but this aspect of academic research is still relatively vacant.This paper reviews the domestic and foreign related literature, based on the special economic market environment and business enterprise groups operating characteristics, in the theoretical level from the perspective of the nuclear strategy of the internal capital market operation mechanism. The mechanism is based on the environment of the capital market in the enterprise group, and it concludes the reasonable mode of the operation of internal capital market and the economic consequences caused by the operation of the internal capital market. At the same time, the new hope group as an example of the operation mechanism, through the analysis of its internal capital market environment, a new hope that the internal capital operation of the main interests, in-depth study of the internal capital operation of the new hope group, and the operation mechanism of the internal capital market operation mechanism in the practice of the new hope group, and from the perspective of market reaction and financial indicators.