Research On The Motivation And Performance Of Industry Chain Integration Of COSCO Shipping Group

After the economic crisis in 2008,the international economic situation continued to be sluggish,the world’s major trading countries experienced a significant economic downturn,the international trade market shrank rapidly,and the maritime industry,which relied on the development of international trade,suffered a huge impact.The supply and demand in the maritime market was unbalanced,excess capacity,and freight rates plummeted.Meantime,the international credit crisis has made corporate financing difficult,and the pressure of the capital chain has further squeezed the living space of shipping companies,many small and medium-sized shipping companies are difficult to survive.In order to alleviate the financing difficulties and balance the shipping market,the world’s major shipping companies have chosen alliances,mergers and acquisitions,etc.to integrate the industrial chain,hoping to solve the problem of excess capacity of enterprises and improve the competitiveness of enterprises.The integration of the industrial chain has become the development trend of the maritime industry,bringing profound changes to the maritime market structure.At present,"state-owned enterprise reform" and "de-capacity" have become hot topics in the economy.The traditional industries in the country have overcapacity.How to resolve the problem of overcapacity has become an important factor restricting the country’s economic development.The reform of state-owned enterprises,the "One Belt and One Road",and the transformation strategy of new and old kinetic energy are actually major measures for the country to create demand,build a new driving force for long-term development,and resolve excess capacity.In this context,COSCO SHIPPING Group strengthens the deepening and complementarity of industrial chain ties through industrial chain integration,improves the allocation of maritime resources,and enhances the competitiveness of maritime industry clusters.Marine companies will further integrate into the world economy and further enhance maritime enterprises in the international arena.The market’s voice and comprehensive strength.Based on the background of the maritime industry,this paper analyzes the industry chain integration motivation,implementation process and performance of COSCO SHIPPING Group from the perspective of industrial chain integration.combining enterprise growth theory,social network theory,industrial organization theory and synergy effect theory.This paper firstly introduces the basic situation of COSCO Group and China Shipping Group and the industrial chain integration process of COSCO Shipping Group.On this basis,it analyzes the motivation of COSCO Shipping Group’s industrial chain integration.This paper believes that COSCO Shipping Group will cross-share The motivation for industrial chain integration with the merger and reorganization of enterprises is mainly market-oriented operation +government promotion,including:the maritime industry environment,the situation and policies of state-owned enterprise reform,the globalization of national strategy and the internal factors of enterprises.Then,this paper uses the event research method and the balanced scorecard method to analyze the impact of industry chain integration on short-term performance and medium-and long-term performance.This paper selects the four listed companies that COSCO Shipping Group mainly involves:COSCO Haikong,COSCO Pacific,CSCL and China Shipping Development as research objects.Through performance evaluation,this paper believes that the change in stock price excess returns reflects investors in the short term.The prospects for the integration of COSCO Shipping Group’s industrial chain are promising.Then we use the balanced scorecard evaluation method to analyze the financial dimension,customer dimension,internal process dimension,learning and growth dimension.The results of the medium and long-term performance analysis of the four dimensions show that after the integration of the industry chain,COSCO Shipping Group will deploy a global strategy,integrate the superior resources of the enterprise,create a "6+1" industrial cluster.and give full play to the scale effect,value-added effect and cluster effect,and the top three.The gap between large shipping companies has narrowed significantly,the competitiveness of globalization has improved significantly,and the Group’s voice in the international trade market has increased significantly.Finally,this paper analyzes and summarizes the full text,sums up the revelation and prospects and deficiencies.