Short-term Debt For Long-term Investment Or Industry-Finance Combination?

The violent pandemic exacerbated the turmoil in the global economic situation.As one of the driving forces of the world economy,my country is inevitably entering the stage of economic adjustment.The industry is receiving increasing attention from all parties as the most important investment and financing issue for business operations...However,because the level of local financial markets open to the outside world is relatively low and there is a single funding channel in most parts of my country,many companies in our country are investing and Financing maturity does not match.Domestic scholars call this type of corporate alienation behavior.It is "short-term loans and long-term investments".Under the influence of the macro environment at home and abroad,This kind of "short-term loan and long-term investment" behavior of enterprises has greatly expanded the financial risks of the enterprise.At the end of 2019,many real estate enterprises fell into a shortage of capital and led to bankruptcy.At present,the academic research on the behavior of "short-term loan and long-term investment" of enterprises began with the study of the Delong Department.The focus of the research is mainly on the research on the existence of "short-term loan and longterm investment",and less attention is paid to the impact on it.Research on business performance issues.Therefore,one of the focuses of this article is to focus on the impact of "short-term loans and long-term investments" on business performance [1].The second focus of the thesis is to study the impact of the industry-finance integration model adopted by non-financial listed companies on the "short-term loan and long-term investment" of enterprises and the research on the operating performance of the enterprise.The integration of industry and finance refers to the mutual investment between physical enterprises and financial enterprises,and then develops into a form of industrial organization.my country’s policy attitude towards the integration of industry and finance has gone from prohibition to acquiescence.By 2010,my country has issued some policy support.It can be seen that my country’s current policy attitude towards industrial capital and other financial capital has also gone through.change.But for now,with the current growth of my country’s real economy,companies still urgently need to mature the capital market and broaden other corporate financing channels and channels.The introduction of relevant policy support and protective measures for the integration of industry and finance will definitely promote my country.Mutual integration and deeper development between emerging industry capital and capital of other financial enterprises.Government agencies have announced policies to encourage financial institutions to participate directly in entity companies.This has allowed more companies with a certain amount of capital to join financial institutions.According to statistics,from 2005 to the end of 2017,the number of listed companies investing in financial institutions in my country increased from 179 to 764,accounting for 23.30% of all unlisted companies.Occupy.Rapid development is seen [2].In contrast to the rapid development of the real integration of industry and finance,current research on industrial and financial integration focuses primarily on corporate financing and investment,and academia clearly studies.I have been combined with property rights due to lack of research on the relationship between industrial and financial integration and "short-term lending and long-term investment" in companies in my country,and the impact on the economic interests of companies.The immature institutional background of the theory associated with the country’s financial markets Natural differences investigate the impact of short-term and longterm investment on the economic interests of Chinese companies,and the combination of industry and finance.It has a strong guiding importance for the enterprise and can also improve existing relevant theoretical systems.This article uses screening data from all A-share listed companies from 2007 to 2017 as a sample and combines theory and empirical methods to combine corporate "short-term loans and long-term investments" with industry and finance...The impact of performance,based on my country’s special economic and financial system,analyzes the different performance of companies with different ownership under "short-term lending and longterm investment" and a combination of industry and finance,and derives: Increasingly research conclusions:(1)Impact of short-term loans and long-term investment on business performance.As a result of empirical research,it has been proved that "short-term lending /long-term investment" temporarily meets the financing needs of companies,but does not improve the business performance of companies and has a certain negative impact.About the performance of the company.(2)Research on the mechanism of impact of corporate industry and financial integration on short-term lending and long-term investment.The empirical results show that the combination of industry and finance exacerbated the negative impact of short-term lending and long-term investment on performance.The integration of industry and finance will mitigate the negative impact of short-term lending and long-term investment on performance.(3)Threshold analysis is used to conduct empirical testing of the impact of industry-financial integration on performance.Empirical results show that the integration of industry and finance has significant heterogeneity in the performance of companies of different nature.On the other hand,in the case of non-state-owned enterprises,the security ratio of industrial-financial integration is 40%.Financial consolidation can no longer mitigate the negative impact of short-term lending and long-term investments on business performance.On the other hand,for state-owned enterprises,the combination of industry and finance,which has a low ratio of industry-financial integration of 35%,is important,but exacerbates the negative impact of short-term lending and long-term investment on business performance.The effects of deterioration disappear when it exceeds35%.In short,state-owned enterprises have greater potential than non-state-owned enterprises in terms of the depth of industrial and financial integration.The treatise focuses on investment and financing issues that companies are concerned about.Studying this issue can provide theoretical guidance for a company to become bigger and stronger.