Study On The Influencing Of Combined Industry And Financial Sector For The Industrial Structure Adjustment

With the deepening of the reform and opening up, China's economy entered the fast track of development,the production level of industrial sector for promotion, technology innovation, industrial sectors in the evolution from lower level to a higher level. The financial industry also got great progress in the reform and opening up, the financial system is gradually perfect, the financial sector has more professional. The development of industrial capital in the financial sector is more open, makes the increasingly close links between industry and finance, industry capital the penetration of the financial sector makes it have a greater influence on financial institutions. In the case of trade barriers gradually eliminate, the combination of industrial capital and financial capital will be more closely, with harmony between industry and finance industry has become more common, with harmony degree will be bigger.At present,there are a series of problems in the process of the industry sector development, the production efficiency is low, and backward production capacity is more, such as lack of core competitiveness are restricts the economic development in our country, the adjustment of industrial structure upgrade is imperative. The purpose of this paper is to through the research of industrial capital and financial capital integration process, analyze its influence on industrial structure changes. This paper collected for scholars both at home and abroad with melting and the study of the theory of the industrial structure adjustment, from the aspects of impact mechanism analysis with melting is a way to promote the adjustment of industrial structure. On Chinese melts after combining the development process of the status quo analysis and the adjustment of industrial structure, and research for the influence of industrial structure adjustment through the company's financial activity, bonding strength and corporate earnings yield with melting three aspects. Finally empirical study under the VAR model framework, by Johansen co-integration analysis and Granger causality test yield bond strength, company financial activity, the level of earnings would have a role to industrial structure adjustment ratio change, and three with melting adjustment ratio in a long time interval has the stable relationship, through the impulse response function and variance decomposition to more specific judgment when the independent variable after the impact, a period in the future, for the influence of the ratio of industrial structure adjustment, and with financial strength, the company financial activity, corporate earnings level respectively for the influence degree of the industrial structure adjustment ratio of concrete.Through the empirical analysis in this paper to produce melt bonding strength, the company financial activity, the company earnings level can influence on the ratio of industrial structure adjustment, illustrates with melting and industrial structure adjustment is the influence relationship between each other. So in order to change the economic growth mode in our country, industry to a higher level of evolution, realize the industrial structure adjustment, promote the fusion of industrial capital and financial capital penetration, increasing with melting level is an effective way.