Business Culture,Financial Constraints And Corporate Financial Performance

Although the formal system is improving day by day,there is still a big space for development,so the informal system like culture can not be ignored for economic development and enterprise management activities."Difficult financing,expensive financing" has become an important factor restricting our economic development and enterprise survival.However,the rapid development of Chinese enterprises in recent years indicates that there may be a special internal mechanism to cope with the external environment,and the business culture that has always valued integrity and cooperation may provide new ideas to improve corporate performance by easing financing constraints.In accordance with the research idea of "business culture → financing constraints→ corporate financial performance",this paper takes Hui-shang culture as the background,selects i Flytek as a case study,and studies the internal relationship between business culture,financing constraints and financial performance.By analyzing the relationship between government and business in the time-honored Hui-shang culture,the orientation of benevolence,integrity,justice,unity and cooperation,and the innovation in Hui-shang culture in the new era,the formation mechanism of the influence of the business culture on financing constraints is summarized based on the theories of the relationship between government and enterprise,signal transmission,social capital,etc.Then analyze the influence path of its unique business culture on financial performance from the financing constraints of four internal and external financing modes.This paper draws a conclusion: Under the strong Hui-shang cultural atmosphere,enterprises gradually form a set of unique ethical codes and standards for business activities,such ethical standards require enterprises to operate with integrity,constantly explore and innovate,and establish brand image;We will build social networks and expand channels for information communication and resource sharing.Under the influence of this culture,the problem of regional information asymmetry is alleviated,which increases the financing channels,reduces the financing cost and strengthens the financing ability of enterprises.With stable sources of internal and external funds,enterprises will have the motivation and confidence to carry out R&D,innovation,project investment and other activities,so as to improve enterprise output,make it full of vitality and improve enterprise performance.