The combination of the myth of Ge why peel financial services 3u8547

The combination of Myth: why GE Capital finance business the sina finance opinion leader (WeChat public kopleader) columnist Chen Guanglei in twenty-first Century, many large enterprise groups in the domestic regulators allow and support have been involved in the financial industry, and the name of "combination in various segments of the financial expansion. However, the combination of real estate so beautiful? Does this enthusiasm for the financial industry really promote the development of enterprises and even the macro economy? This series of case study aims to provide some useful exploration through the combination of domestic and international production and financing. First, from the internal capital market to systemically important financial institutions Ge (General Electric., Co, GE) was founded in 1892, is a leading diversified multinational company, business scope covers medical, aviation and new energy and other fields. With the development of the financial industry in the United States, the development of GE’s financial business is synchronous. As one of the innovators of the organizational structure of the Ge type "M" structure for the development of the financial industry in the United States is not mature early to create internal capital market (Internal Capital, Markets, ICM) to create conditions. Alchian (1969) through the observation of financial transactions among every department of General Electric, the internal capital market investment (Investment Funds Market) concept, the evolution of the internal capital market (Internal Capital, Market, ICM) and become an important business diversification characteristics of American companies. This is also a disguised form of financial behavior and the United States in 1933, the Glass Steagall Act (Glass-Steagal Act of 1933, also known as the banking act of 1933) on the strict supervision of financial services is directly related to the. In 1980s the deregulation tide swept the United States and Britain and other developed countries (such as the impact of the financial big bang the British city of London (Big Bang)), many non-financial enterprises began to provide "non bank" (nonbank banks) business eroding Bank Law "the provisions of the" 1933 commercial banks provide financial services. In particular, with the development of the traditional internal capital markets mature Ge as a typical. In CEO Welch (Welch) directly under the leadership of General Electric to make inroads into the financial industry, especially consumer financial services, financial services not only provide more than 13 of the profits for the group, and is one of the world’s leading financial institutions, and in commercial real estate and aircraft leasing business in the leading position (see Figure 1). Before the outbreak of the global financial crisis in 2008, general electric business revenue and net profit growth rate from the financial business are more than the overall growth rate. For example, in 2003-2007, General Electric’s operating income and net profit from financial services grew by 88.82% and 122.94%, respectively相关的主题文章:

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