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论文编号：	12128
作者编号：	2320180715
上传时间：	2020/12/12 22:20:52
中文题目：	SQY公司财务战略研究
英文题目：	Research on Financial Strategy of SQY company
指导老师：	李莉
中文关键字：	软件公司；财务战略；筹资策略；投资策略；营运资本管理策略
英文关键字：	software company; financial strategy; financing strategy; investment strategy; working capital management strategy
中文摘要：	近几年，我国软件行业发展迅猛，又因其本身所具备的高技术含量、高附加值的特征，使其成为我国提升产业结构的重要新兴产业之一。国内软件企业的发展起步晚于欧美。正因为行业起步较晚，因此在人才储备、行业经验、行业体量甚至是财务战略上都与国际先进水平有较大差距，要想迎头赶上，在国际社会中占领一席之地，需要比欧美等国家更快的发展速度，因为软件行业是知识密集型产业，所以决定软件行业发展前景的最为关键的几个要素主要是财务支持、人才、产品、适销客户等，而更为重要的是公司战略，有了明确的战略才能更加明确知道公司需要何种资源以及如何将所有关键资源有效整合到一起，而战略又可进一步细分为经营战略、人才战略、财务战略三大方面，而后两者人才战略和财务战略是为经营战略服务的，同时也是决定经营战略是否成功的重要因素。财务战略则主要通过筹资、投资、营运资本管理以及收益分配四方面内容最终达成业财融合的理想状态，去支持甚至推动公司整体战略的最终落地和实现。但目前行业内普遍在财务战略方面存在各种问题，严重阻碍行业发展。 本文使用先进的财务理论结合SQY公司的实际情况分析发现SQY公司财务战略中筹资、投资、营运资本管理以及收益分配方面出现的问题，对原有财务战略进行了优化设计，并达到最终改善SQY公司财务状况并提高其持续经营能力的目的。SQY公司是软件行业内中小企业的典型代表，它的财务战略问题在软件行业具备显著的代表性，对同行业内企业财务战略优化具有深刻的借鉴意义。 本文主要结论是：在筹资策略方面，可先考虑最优资本结构，最优资本结构可提升企业竞争力。若因轻资产的经营模式导致无法获得银行的企业贷款，资本结构调整空间有限，则考虑先债权筹资后股权筹资的优序筹资方式，债权筹资可多考虑运营资金筹资、购买写字楼的按揭贷款，股权筹资要找受到行业内认可的专业的投资机构；在投资策略利用先进的NPV计算指标做投资决策、完善投资决策机制，大额投资需经过科学详细的论证。在收益分配策略方面基层员工和中层领导人员按贡献大小分配，高管利益与公司利益做捆绑，解决“代理问题”。
英文摘要：	In recent years, the rapid development of China's software industry, and because of its own high-tech content, high value-added characteristics, it has become one of the important emerging industries to enhance the industrial structure. The development of domestic software enterprises started later than that of Europe and America. Because the industry started late, there is a big gap with the international advanced level in terms of talent reserve, industry experience, industry volume and even financial strategy. In order to catch up and occupy a place in the international community, it needs to develop faster than other countries such as Europe and the United States. Because the software industry is a knowledge intensive industry, the development prospect of the software industry is most important The key elements are mainly financial support, talents, products, marketable customers, etc., and the more important is the company strategy. Only with a clear strategy can we know what resources the company needs and how to effectively integrate all the key resources. The strategy can be further subdivided into three aspects: business strategy, talent strategy and financial strategy, and the latter two talents Strategy and financial strategy serve the business strategy, and they are also the important factors that determine the success of the business strategy. The financial strategy mainly achieves the ideal state of industry and finance integration through financing, investment, working capital management and income distribution, so as to support and even promote the company's integration The final landing and Realization of sports strategy. However, there are various problems in financial strategy in the industry, which seriously hinder the development of the industry. This paper uses advanced financial theory combined with the actual situation of sqy company to find the problems in financing, investment, working capital management and income distribution in the financial strategy of sqy company, optimizes the original financial strategy, and finally improves the financial situation of sqy company and improves its sustainable operation ability. Sqy company is a typical representative of small and medium-sized enterprises in the software industry. Its financial strategy problems are significantly representative in the software industry, which has a profound reference significance for enterprises in the same industry to optimize their financial strategy. The main conclusion of this paper is: in terms of financing strategy, the optimal capital structure can be considered first, and the optimal capital structure can enhance the competitiveness of enterprises. If the enterprise loan cannot be obtained due to the asset light business model, and the space for capital structure adjustment is limited, the priority financing method of debt financing first and then equity financing is considered. Debt financing can consider working capital financing and mortgage loan for purchasing office buildings. Equity financing should seek professional investment institutions recognized by the industry; advanced NPV should be used in investment strategy To make investment decision and improve investment decision-making mechanism, large investment needs scientific and detailed demonstration. In terms of income distribution strategy, grass-roots employees and middle-level leaders are distributed according to their contributions, and the interests of senior executives are tied with the interests of the company to solve the "agency problem".
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