On Combination Between Industry and Finance,Ownership Percentage and No-Efficiency Investment of Shipping Enterprises

Public shipping companies in 2010—2016 are investigated and the investment efficiency model for the shipping enterprises is built. The effect of combining between industry and finance on non-efficiency investment of shipping enterprises are studied with WLS（Weighted Least Square） analysis. The analysis indicates that the development of combination between industry and finance have significantly improved the situation of undercapitalization but had little effect on over-investment. The countermeasures suggested is for government to formulate macro policy encouraging shipping companies to invest overseas, accelerating development of industry-finance cooperation platform, so as to promote effective investment. Shipping enterprises are expected to make the best of the mechanism of industry-finance combination in avoiding non-efficiency investment. It is expected that more modes of industry-finance combination will be developed, which will provide more powerful finance support and impose stronger restraint on over-investment.