资管新规实施对涉海企业主业发展的影响分析OA

As the Belt and Road Initiative and the strategy for building a strong maritime nation advance,the marine economy has gradually become a new growth engine for China's economic development,and the marine enterprises are the main battlefield for the high-quality development of China's oceans.Promoting the development of the main business of marine enterprises is of great significance to optimizing the structure of the marine industry and achieving high-quality development of the marine economy.Using the implementation of the New Asset Management Regulations(NAMR)as a quasi-natural experiment,this paper examines the impact of NAMR on the core business development of marine enterprises.Based on a sample of listed marine enterprises in China from 2012 to 2023,it is found that the NAMR significantly curbs marine enterprises' financial investments and induces a substitution effect that fosters their focus on core business operations.Heterogeneity analysis reveals that the positive effect of NAMR on core business development is more pronounced among firms with superior financing capabilities and those located in financially developed regions.This research tests the positive role played by financial regulation in the implementation of the strategy of a strong marine power,and at the same time provide important insights for dealing with the relationship between financial investment and the development of the main business of marine enterprises,which is conducive to the optimization of the allocation of resources in the marine economic sector.