Research On The Causes And Economic Consequences Of Haixin Shares' Financializatio

For the past few years,some Chinese enterprises have turned from entity to financialization and service,and financial investment outside their main business is widespread in the entity enterprises,resulting in the potential phenomenon of moving from real to imaginary.In entity enterprise cost rising,under the condition of decreasing profit,some Chinese entity enterprise began to vigorously develop industrial management of financial business,will be one of the company’s main revenue source,the company gradually moved away from traditional industries concentrated development direction,is not conducive to China’s economic structure transformation and high quality development.The report of the19 th National Congress of the Communist Party of China put forward the establishment of market economy system,and put the focus of economic development on the real economy.Therefore,this thesis is of great significance to the study of the financialization of real enterprises.Therefore this thesis mainly conducts a case study on Haixin Stock,which has obvious financialization behavior characteristics in entity companies.Firstly,it summarizes domestic and foreign literature on corporate financialization and has a preliminary understanding of research methods.Secondly,it introduces the definition and theoretical basis of financialization.Then it introduces the basic situation of the financialization of Haixin shares and its current situation and path analysis.At the same time,the financialization motivation is analyzed from the reservoir theory and the investment substitution theory,in order to understand the purpose of the financialization of Haixin shares,and the financial analysis method is used to study the economic consequences of its financialization.Finally,the thesis draws corresponding conclusions and suggestions.The conclusion shows that the economic consequences under the reservoir motivation are positive.The financial development of Haixin can maintain the liquidity of the enterprise’s own funds,alleviate financing constraints,disperse operational risks,release the reservoir effect,and support the realization of the enterprise’s strategic planning.Due to speculative motives,the economic consequences are negative.Excessive financialization of Haixin has not had a positive impact on the company’s main business development.By contrast,with the continuous improvement of the company’s financialization,the company has invested more and more in financial assets,ignoring the development of its main business In the long run,although company’s financial activities have created high short-term profits for the company,the long-term losses to the entity operation of the company have been irretrievable,resulting in the decline of the main business research and development ability,long-term assets are squeezed out and the long-term development ability is reduced,and the benefits and disadvantages of the financialization have not been realized.Therefore,relevant suggestions are put forward based on the above conclusions.Firstly,Haixin should attach importance to industrial development,and secondly,it should appropriately participate in financial investment activities,but it should not ignore industrial development simply because of seeking financial benefits.Finally,the company must maintain strict risk control in the process of financialization and enhance risk handling ability.The government must strengthen its support for the real industry,improve the business environment of the whole society and reduce the burden of industrial development from the perspective of the real operation.At the same time,the government should strengthen the supervision over the financialization of enterprises and guide enterprises to make appropriate financial investment.