Analysis Of The Internal Capital Market Operation Mechanism And Operation Effect Under The Specialization Strategy

With the rapid development of the market economy and under the support of the government's policies,China's group companies are increasingly expanding their scale through diversification.The traditional external capital market financing platform is increasingly unable to meet the Group's growing capital needs.At this time,the group companies usually rely on the internal capital market,through internal trading,internal lending,internal guarantees and other internal capital market operations to obtain a steady stream of financial support,in order to achieve the effect of reducing financing constraints,improving capital allocation efficiency and reducing transaction costs.However,the operation of the internal capital market does not always bring about the creation of value.Many groups have caused the capital chain to break due to cross-industry operations and decision-making mistakes,which eventually led to the collapse and collapse of the entire group of companies.These failed cases alert the entrepreneur to pay more attention to the internal and external environment and return to specialization in a timely manner to form operating advantages and enhance core competitiveness.Therefore,under the professional development model,whether the operation of the internal capital market of the group company can be effectively operated under the guidance of the strategy,and it is a question worthy of studying to bring considerable economic benefits to the group company.This paper mainly uses the literature review method,case study method and normative research method to construct a strategically oriented internal capital market operation framework,which mainly includes a strategy-oriented internal capital market operation mechanism and a strategy-oriented internal capital market operation.effect.In addition,this paper uses Vanke Group as an example to introduce in detail the operation of the internal capital market under the specialization strategy of China Vanke Group,and finds that its internal capital market operating efficiency is in line with the changes in its economic effects,and effectively draws an effective internal The conclusion that capital market operation can benefit the development of the company.