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论文编号：	7608
作者编号：	2120132720
上传时间：	2015/6/16 20:35:37
中文题目：	国有企业集团资金集中管理模式研究
英文题目：	Study on the management mode of state-owned enterprise group centralized funds
指导老师：	陈国欣
中文关键字：	中国石化；资金集中管理；大型企业
英文关键字：	SINOPEC; centralized management of funds; large enterprises
中文摘要：	近年来，国内外学者围绕着大型国有集团化企业的资金管理问题展开了一系列的讨论与研究。从已有的研究成果来看，资金集中管理模式主要包括集中管理与分散管理两种，而现实情况是，资金集中管理逐渐被国内外各大集团化企业采用。这是否说明资金集中管理是一种更为成功的管理模式呢？在实际操作中发现，尽管资金集中管理模式存在提高资金运作效率，优化资源配置，平衡资金头寸，调剂资金余缺，强化资金控制，有效防范财务风险，降低财务成本等多方面的优点。但是，过度集权很可能引发严重问题，导致集团整体资金链断裂，且带来内部分配不均衡，打击各分子公司的积极性等不良后果。因此集权与分权的关系处理不当，风险控制的薄弱，融资渠道狭窄引发的“钱荒”，银企关系不协调，以及人员能力与态度的缺失，都会导致资金集中管理无法起到预期的效果，并带来诸多问题与弊端。基于此，综合分析资金集中管理的优势以及存在的缺陷和不足，探究和挖掘影响其有效运行的重要因素，扬长避短，有效避免管理过程中的缺点和问题，具有较高的理论与实践意义。本文结合中国石化实施资金集中管理的典型案例，从理论与实践两个角度分析中国集团化企业资金集中管理所存在的优势与劣势，并据此探究了影响资金集中管理成功运行的关键影响因素。以期望在理论与实践的基础上不断总结，找出一条适合中国国情的集团化企业资金管理模式，建立适应当前经济环境的企业资金集中管理制度，促进中国当前企业财务管理的发展和进步。首先，本文针对国内外的研究文献进行梳理和归纳，寻找出研究相对薄弱的领域，突出本文研究的理论与实践价值意义与必要性。其次，围绕影响资金集中管理有效运行的关键因素展开理论分析。依据资金集中管理过程及其优劣势，将主要影响因素划分为管理模式与制度、组织机构和账户设置、内部资本市场和管理流程、银行与企业关系、软件技术平台以及人员能力和态度六个方面，并分析每个因素对资金集中管理影响的作用机制。接下来，引入中国石化实施资金集中管理的典型案例，从实践的角度进一步分析资金集中管理的优缺点及其主要影响因素。最后，通过结合理论分析与中国石化案例分析，本文得出了实施资金集中管理过程中需要重点关注的因素。虽然资金集中管理模式存在诸多优点，但是从实践分析来看，该模式也存在一定的问题。本文研究不仅在理论上进一步丰富了对资金集中管理模式的研究，运用价值链理论，深化了对资金集中管理模式的了解与认识，同时结合集团化企业的具体实施情况，指明了需要重点注意的六个主要影响因素，以期帮助集团化企业有效发挥资金集中管理优势的同时，也可以一定程度避免其带来的弊端，对中国集团化企业实施资金集中管理具有较强的借鉴意义。
英文摘要：	In recent years, scholars around the large group of fund management companies launched a series of discussions and research. From the existing research,the funds centralized management model includes two centralized management and decentralized management , while the reality is gradually being centralized fund management group of major domestic and foreign enterprises to adopt . Does this mean that centralized management of funds is a more successful management model? In practice, we found that, although centralized management of funds can improves the capital efficiency, optimize resource allocation, balance fund positions, transfers funds surplus and deficiency, strengthen capital controls to prevent financial risks effectively, reduce financial costs and other advantages. However , the excessive centralization is likely to lead to serious problems, leading to the Group's overall funding strand breaks , and bring internal distribution uneven combat the adverse consequences of each molecule 's enthusiasm and so on. Therefore, the relationship between centralization and decentralization of improper handling , risk control is weak, narrow channels of financing caused by "money shortage" incongruous relationship between banks and the lack of staff capacity and attitude will lead to centralized management of funds can’t play the desired effect and bring many problems and drawbacks. Based on this, a comprehensive analysis of the advantages of centralized management of funds and the defects and shortcomings,explore and excavate the important factors affecting its effective operation ,weaknesses, effective management process to avoid the shortcomings and problems with high theoretical and practical significance. In this paper, combined with a typical case of China Petrochemical implementc entralized management of funds , both from the point of view of the theory and practice of Chinese enterprises centralized fund management group existing strengths and weaknesses, and accordingly explores the key factors influencing the successful operation of centralized management of funds . To expect on the basis of theory and practice , constantly sum up , to find a suitable for China's group of companies fund management, the establishment of enterprises to adapt to the current economic environment, centralized capital management system, and promote China's current corporate financial management development and progress. Firstly, the study of literature at home and abroad to sort out and summed to find out areas of research is relatively weak , highlighting the significance of the theoretical and practical value and necessity of this study. Secondly , a key factor in the effective operation of centralized management of funds launched around the impact theory. Based on centralized fund management process and its advantages and disadvantages , the main factors are divided into management models and systems , organization and account settings , six aspects of management processes and internal capital markets , banking and business relationships , software technology platform and the ability and attitude of staff and analyze the impact of each factor on the centralized fund management mechanism . Next, the introduction of a typical case of China Petrochemical implement centralized management of funds , from a practical point of view to further analyze the advantages and disadvantages of centralized management of funds and the main factors . Finally ,through a combination of theoretical analysis and China Petrochemical cases , we draw a factor in the implementation of centralized capital management process need to focus on . Although there are many funds centralized management advantages, but from a practical analysis, this model also has some problems. In this paper, not only in theory, to further enrich the study of centralized capital management model , the use of value chain theory , deepen the understanding of centralized management of funds and knowledge , combined with the implementation of the specific group of enterprises , and pointed out the need to focus attention six main factors in order to help the group of enterprises effectively play the advantages of centralized management of funds , but also can avoid certain extent evils , with a strong reference to the Chinese group of enterprises to implement centralized management of funds.
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