The Evolution Path And Risk Prevention Of Internet Platform Enterprise Financialization

As China’s economy shifts to a stage of high-quality development,the Internet platform economy has become a new engine for economic growth.As a new organizational form and development subject under the platform economy,Internet platform enterprises have begun to show the development trend of financialization.Compared with the previous corporate financialization,its financialization behavior has new connotations and characteristics.Although Internet platform enterprises have brought a certain role in promoting economic development in the process of financialization,there are also certain problems and risks.Therefore,this paper studies the phenomenon and evolution path of Internet platform enterprise financialization.It not only provides a practical basis for optimizing the financialization behavior of platform enterprises but also provides a reference for regulating the financial development of platform enterprises.This paper uses a double case study method,and selects two typical platform companies,Alibaba and Suning,as the research objects of the case study.First of all,this paper defines the concept of Internet platform enterprises and their financialization.The relevant theoretical basis is sorted out.Secondly,it analyzes the development of Internet platform enterprise financialization from three perspectives of environment,status quo,and type,and introduces the selection basis and relevant background of the case.Then,it specifically studies the financial evolution process of Alibaba and Suning.Meanwhile,the general model of the evolution path of platform enterprise financialization is obtained by the method of comparison and induction: the financialization of platform enterprises is mainly divided into three stages,namely the initial stage and the development stage,and the mature stage.The financialization of Internet platform enterprises is mainly affected by the evolution of the macro market,policies,and their business territory.Combining their multiple resource advantages,their motivation to implement is gradually deepened.The strategic positioning has gone through market penetration strategy,concentric diversification strategy,and technology development strategy.While,the business development closely followed the strategic layout,experienced the expansion model of payment business,comprehensive business,and open platform,and finally formed a relatively complete financial ecology.The financialization of Internet platform enterprises has promoted the transformation of traditional finance,strengthened the construction of inclusive finance,and promoted the development of financial technology.However,it can easily lead to the excessive reliance on the parent company,blind expansion and monopoly of platform companies,creating new financial risks and bringing new challenges to regulators.Finally,this paper puts forward relevant suggestions from the perspective of Internet platform companies themselves and policy supervision: From the perspective of platform companies,the financialization of platform companies should focus on the development of their own main business,take squeeze out as the core to innovate financial products,keep the bottom line of supervision,and adhere to compliant development.;From the perspective of policy supervision,it is necessary toimplement multi-department supervision cooperation,strengthen behavior supervision and functional supervision,strengthen data information security andconsumer protection,and implement scientific and normalized supervision.