Baosteel Group's Analysis Of The Effects Of Industry And Finance

The current economic in china is in a special period of economic transition.Along with the booming of supply-side reform,the traditional industry and financial industry are facing with high pressure of upgrading,financial-industrial combination become a common choice to improve the scope and competition of the industry under this situation.But it is also a double-edged sword,on the one hand,it brings lower transaction costs and eases the financing constraints,on the other hand,it also increased the enterprise group management risk and financial risk at the same time.all above that makes it more critical and necessary to focus on enterprise group strategy implementing production mechanism and influence on micro-economic.As a domestic pioneer of financial-industrial combination,the melting process of Baosteel Group Corporation is worth analyzing and researching in-depth.Refer to predecessors' research result,this paper uses the inductive analysis,case analysis and empirical approach to study the melting process of Baosteel group and its effects.Based on the current situation of domestic financial-industrial combination,this paper summarizes three model of financial-industrial combination in enterprise group developments period,respectively service model,developmental model and investment model,above that this paper analysis the impact mechanism to enterprise group of each model.According to the case of Baosteel,divides it developmental history into three melting process,and studies the melting process,environmental analysis and mechanism analysis about different process of Baosteel.Comparing the different impacts of stages of financial-industrial combination in Baosteel,this paper uses the DEA model to evaluate the melting efficiency of Baosteel.Based on the above research result and sum up the successful experiences of Baosteel,first of all,this paper finds out the model selected adaptation of financial-industrial combination of Baosteel has the phase which meets the demand of industry development.Second,the development of financial-industrial combination should be harmony with business model innovation,whatsmore the choice of financial-industrial combination should be matched with the corporate governance and this paper gives some suggestions on how to improve the efficiency of melting issue of Baosteel from two aspects: the external environment and the group level to provide some references for the research of financial-industrial combination.