Research On The Financial Performance Of Chinese Energy Enterprise Based On The Industry And Finance Combination

The industry and finance combination has gradually become the direction of reformation and development for Chinese economic system.Theoretical and empirical studies indicate that the combination of industry and finance has great influence on reducing costs of transaction,eliminating asymmetry ofinformation,loweringfinancing constraints,achieving the improvements of transaction efficiency and investment efficiency.However,at the present stage,the process ofChinese industry and finance combination is still at the stage of primary development,and there is very little research on the financial performance of enterprises.Therefore,this paper takes the energy enterprise as the research object and studies the influence of the industry and finance combinationon the financial performance of energy enterprises.In this paper,through the research on the status quo,relevant theories,motivations,patterns and specific forms of the industry and finance combination,then analyzes the specific forms and process of the industry and finance combination of energy enterprises in China,analyzes the impact mechanism of industry and finance combination to financial performance of energy enterprises and so on.It is believed that the number of enterprises engaged in the industry and finance combination among the energy enterprises is increasing,and the specific forms of the industry and finance combination are diversified.However,since most energy enterprises just have started to form a industry and finance combination in recent years.Through the mechanism and descriptive analysis that theindustry and finance combination will have an impact on the financial performance of energy enterprises.Then,for the empirical research part,the use of factor analysis method to calculate the energy performance index of energy enterprises,the use of multiple regression model to study whether the industry and finance combination will have an impact on the financial performance of energy enterprises;and to analyze the correlation between the degree of industry and finance combination and financial performance.Descriptive statistics and matching samples T test on the industry and finance combination of more than 5 years and less than 5 years of energy enterprises in the financial performance,financial costs and operating results were analyzed;the independent sample T test is used to analysis of the financial performance differences of energy enterprises between participating in diversified financial institutions and single financial institutions.And then put forward the corresponding empirical conclusions,combined with theoretical empirical analysis for the future of energy enterprises tothe process ofthe industry and finance combination.