Research On The Financial Risk Of The Financialization Of Homa Appliances

China’s economy has entered a stage of high-quality development,in which the real economy plays an important supporting role.At present,there are many problems facing our economies’ real sectors,such as declining growth rate and intensified competition.So that the corporate entities flocked to increase their financialization to cope with the fragile growth force,and invest substantial industrial capital into financing and real estate with higher-margin,Physical enterprises have shown a trend of financialization.However,financialization is a "double-edged sword",helping real enterprises improve efficiency but also accompanied by financial risks.Only by better use of financialization,real enterprises can achieve sustainable development.In-depth analysis of the reasons for enterprises’ financialization and the financial exposure that may be caused by enterprises’ financialization have become topics of practical significance and urgent research in China.This paper takes Homa Appliances as an example,starting from the analysis of the degree of financialization of Homa Appliances to clarify its financialization development process.Combined with the Pecking Oder Theory,the reasons for the implementation of financialization by Homa Appliances were analyzed.Based on the theory of risk management,the paper uses the investment risk,financial risk and other related indicators to identify financial risks and correspond to relevant financialization behaviors;Then,the degree of financial risk is evaluated using the entropy and TOPSIS method.Finally,the reasons for the financial risks caused by the financialization of Homa Appliances are analyzed from multiple angles,and targeted suggestions are put forward.Based on the above research,it is concluded that in the financialization process of Homa Appliances,the early financial investment return is higher than that of the manufacturing industry,which improves the efficiency of capital use and reduces the financial risk;but the large-scale loss in the later financial business reduces the profit and operation stability of the enterprise,and increases the financial risk.Based on the case of Homa Appliances,this paper analyzes the changes and causes of the financial risks of entity enterprises,provides ideas and help for the financial investment of the same entity enterprises and avoids the financial risk,and enriches the case of the financial risk of enterprises.