Case Study On The Impact Of Industry Finance Combination On Enterprise Innovation

In recent years,our country insists on promoting the supply side structural reform as the main line,emphasizes that revitalizing the real economy is one of the important tasks,and has made remarkable achievements in "three go,one drop and one supplement".However,the problem that the capital in the financial field is out of the real and out of the virtual,which is out of the goal of the country to revitalize the real economy,makes the development of the combination of industry and finance once face a bottleneck.The combination of industry and finance refers to the mutual cooperation between industrial capital and financial capital,mutual benefit and win-win situation;the way to achieve this is to take the equity relationship as a bridge,and combine it by means of equity participation,holding and personnel participation.In the context of high-quality economic development,the new and old driving forces are accelerating the transformation.How to deepen the integration of industry and finance,make finance better serve the real economy,boost the transformation and upgrading of economic structure,and nurture new driving forces for economic development has become a hot topic of discussion.Looking back on the previous studies,scholars at home and abroad have studied the combination of industry and finance from a wide range and perspective.This paper explores the impact of industry finance integration on enterprise innovation from the micro level,that is,taking Aerospace Science and technology group as the research object,through the theoretical analysis and practical test of the impact of industry finance integration on enterprise innovation,to prove the impact of industry finance integration on enterprise innovation.In this paper,literature method is used to sort out the theory of industry finance integration and enterprise innovation,interview method is used to collect and analyze the relevant personnel in charge of the case company's industry finance integration;financial index analysis method and case analysis method are used to collect and analyze a large number of financial data related to the case company's industry finance integration.From the definition of the combination of industry and finance,the main body of the combination of industry and finance and the development mode of the combination of industry and finance,the relevant concepts are defined;from the resource-based theory,the theory of internal capital market,the theory of diversified operation,the theory of transaction cost,the impact of the combination of industry and Finance on enterprise innovation is summarized and analyzed;From the three aspects of the importance of the combination of industry and finance to enterprise innovation,the motivation analysis of the development of the combination of industry and finance,and the path of the combination of industry and finance influencing enterprise innovation,this paper analyzes the theory of the influence of the combination of industry and Finance on Enterprise Innovation;Taking the industry finance combination of Aerospace Science and technology as an example,this paper analyzes the factors that affect enterprise innovation from four aspects: the impact of industry finance combination on R & D investment,the impact of industry finance combination on innovation output,the mechanism of industry finance combination on Enterprise R & D innovation,and the economic consequences of industry finance combination on Enterprise R & D innovation.This paper finds that the R & D activities of Aerospace Science and technology group are a long-term investment process.With the increasing demand for capital,manufacturing enterprises are gradually infiltrating into the financial industry with high profit margin when it becomes difficult to operate the main business.Thus,compared with other enterprises,the industry finance combined enterprises can better allocate resources to ensure the smooth R & D activities of enterprises Easy to carry out.The combination of industry and Finance with efficient capital utilization and turnover ensures sufficient and uninterrupted R & D investment,thus promoting the quality and quantity of innovation output.All in all,this paper analyzes the impact of the combination of industry and Finance on enterprise innovation.The combination of industry and finance is helpful to alleviate the financing constraints of R & D innovation,the growth of R & D innovation ability of enterprises and the inhibition of financing constraints on innovative R & D,further enriching and improving the research literature in related fields,and providing reference for other enterprises that want to promote enterprise innovation with the combination of industry and finance in the future.