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论文编号：	10993
作者编号：	2120172922
上传时间：	2019/6/17 9:20:43
中文题目：	基于财务战略矩阵的企业财务战略研究——以保利发展为例
英文题目：	Research on Financial Strategy of Poly Developments based on Financial Strategy Matrix
指导老师：	覃家琦
中文关键字：	保利发展； 财务战略；财务战略矩阵
英文关键字：	Poly Developments ；Financial Strategy；Financial Strategy Matrix；
中文摘要：	我国市场经济体制建立后，房地产行业成长速度高歌猛进，作为支撑我国国民的重要产业之一，房地产行业产值占 GDP 的比重越来越大，对国民经济增长、金融稳定、吸纳就业都有重要促进作用，对我国经济的发展做出了突出的贡献，显然，房地产行业在市场中的成长，对国民经济的增长有举足轻重的影响。所以无论是政府还是民间都在持续关注房地产企业是否能够健康发展。近几年，随着宏观经济下行压力突出、国家去库存政策不断推进，房地产行业面临不小的挑战，房地产行业经营环境所面临的波动性进一步加剧。在这样的大环境背景下，房地产企业确立正确的战略是自身可否继续保持好竞争能力的关键。 财务战略矩阵作为一个分析企业资源运用的工具，将公司价值创造力理论和可持续增长理论相结合，因此，运用财务战略矩阵对企业财务战略进行剖析并在这基础上不断改进，有助于企业达到战略目的。目前关于财务战略和财务战略矩阵的研究更多的是关于理论的探讨和分析，而且财务战略矩阵理论在企业实际经营中的应用研究较少，房地产行业更是如此。因此本文首先从国内外相关研究综述着手，分别列举了财务战略理论及财务战略管理理论，确立了研究角度及方法。利用PEST模型描述了目标企业——保利发展控股集团股份有限公司（“保利发展”）所处的经营环境后，本文以其2013-2017年财务数据为基础，构建了保利发展的财务战略矩阵，对保利发展的价值创造状态和资金状态进行深入分析。最后，本文从财务战略矩阵的角度出发，结合企业在筹资战略、投资战略和股利分配战略上的实施效果进行综合评述并提出改进建议。通过对保利发展的案例分析，本文对财务战略矩阵在实际应用中，尤其是房地产企业中的应用起到了推动和丰富作用。
英文摘要：	In recent decades, real estate industry has developed rapidly and become one of the pillar industries of China’s economy. With the output value of the real estate industry accounts for a larger proportion of the GDP, it has stimulated the national economic growth, financial stability and creation of job opportunities, and has made great contributions to China’s economic development. It goes without saying that the development of real estate companies has an important impact on the development of China’s economy. As such, whether the real estate companies is developing healthily has drawn both public and private attention on a continuous basis. In recent years, with the downward pressure on macroeconomics and the continuous advancement of national destocking policies, the real estate industry is facing huge challenges, and the volatility faced by the real estate industry’s business environment is further aggravated. In the context of such environment, the establishment of the proper strategy for real estate companies is the key to the ability to remain competitive on a continuous basis. As a tool for analyzing the use of enterprise resources, the Financial Strategy Matrix integrates the enterprise value creativity and sustainable growth theory. Therefore, by using the Financial Strategy Matrix to analyze a company’s financial strategy and making continuously improvements on such basis, the company will be assisted in achieving its strategic goals. The current study on financial strategy and the Financial Strategy Matrix is more focused on the theory discussion and analysis, and the application of such theory in the actual operation of companies is rarely studied, especially in the real estate industry. Therefore, this paper begins with a review of relevant domestic and foreign studies, introduces the financial strategy theory and financial strategy management theory, and establishes the research content and methods. After analyzing the operating environment of the target company, Poly Developments Holding Group Co., Ltd. (“Poly Developments”), this paper constructs the Financial Strategy Matrix of Poly Development based on its financial data from 2013 to 2017, and makes an in-depth analysis of the value creation status and capital status of Poly Development. Lastly, from the perspective of the Financial Strategy Matrix, this paper combines the implementation effect of the company’s financing strategy, investment strategy and profit distribution strategy to make a comprehensive evaluation and propose improvement suggestions. Through the case study of Poly Development, this paper has promoted and enriched the application of Financial Strategy Matrix in practice, particularly in real estate companies.
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