Research On China's Military Enterprise Equity Financing The Necessity And Feasibility

Military enterprise is shut in the defence and security department of the national economy and people's livelihood national strategic enterprise,in the aspects such as national economy,science and technology,people's livelihood has an important position.Military enterprise is the supply of military equipment supplies unit,military science and technology progress in China,and promote sustained economic steady development in China.The scientific research project technical difficulty is high,the product structure is complex,raw materials and production equipment as well as the expensive price determines the sustainable development requires a lot of money.The military enterprise of our country has a tradition of wholly state-owned property,in the era of planned economy,the financial allocation is a main source of funds in the development of enterprises.Along with our country reform and opening-up and market economy development gradually,military industrial enterprises are also attempt to bank loans,finance companies and other financing channels.Since 2000,according to the state of war industry enterprise shareholding system reform,the investment system reform and policy guidance,military industrial enterprises gradually began to blend in developing market economy,the development of multiple financing methods.At present,in addition to the traditional financing channels,the nearly hundred military enterprise through restructuring listed in our country,with equity financing way to solve the problem of insufficient capital enterprise development.This paper based on the public goods theory,the analysis of the current environment of economic development of national defense product attributes,the military industry group and the definition of military enterprise,and war industry group in China and the United States military enterprise development course review;Then combined with 10 large military industry group,has listed the actual situation of military enterprise and the market environment,expounds the necessity and feasibility of development of military enterprise equity financing;Finally puts forward Suggestions for the optimization of equity financing,in order to make the military industry enterprises to better participate in market competition,to improve its strength.