Research On The Influence Of Financial Ability Of Enterprises On Cross-industry Transformation

Cross-industry transformation is an important strategic action taken by enterprises in order to gain competitive advantage,and it is also a dramatic change activity.It brings not only development opportunities and space for the survival of enterprises,but also considerable risks.Many enterprises' transformation activities end in failure.The reason for the failure of cross-industry transformation is not only because of the wrong choice of transformation direction and operation mode,but also because of the financial aspects.Financial ability can improve the value of enterprises,avoid financial risks,and ultimately enhance the competitiveness of enterprises by coordinating financial resources and allocating financial activities,which plays an important role in the selection and implementation of cross-industry transformation.It is of great significance for the development of enterprises to study the financial ability of cross-industry transformation.First of all,based on the research on the theories of enterprise transformation,cross-industry transformation and financial ability,this paper puts forward three dimensions and eight indexes of enterprise transformation evaluation,four dimensions and ten indexes of financial ability,and establishes the financial ability index system of enterprise transformation.Secondly,it constructs the conceptual model of financial capability and cross-industry transformation,and puts forward the research hypothesis of this paper.Thirdly,this paper makes an empirical study on the impact of financial capacity on the cross-industry transformation of enterprises.Select 52 manufacturing cross-industry transformation listed companies,collect the relevant data of each three years before and after the transformation.Through descriptive,correlation and multiple linear regression analysis,it is found that cross industry transformation helps enterprises to improve their competitiveness and gain competitive advantage.After the cross-industry transformation,the financial strategic management ability,financing ability and investment ability of enterprises have been improved and financial risk control ability has been improved The financial strategic management ability,financing ability,investment ability and financial risk control ability all play a positive role in the realization of cross-industrytransformation goals from different aspects.Finally,according to the regression results,the paper puts forward suggestions for improving the financial ability of enterprises in the process of cross-industry transformation,including five aspects: enterprise financial strategy,financing activities,investment activities,financial risk control and financial resource management.