|
Enterprise Group is the the innovative advanced form of business organization to adapt to the modern highly developed productive forces, it is faster than any previous form of an organizational development, and should play a role in the social and economic life. Japan's postwar economic re-emergence, South Korea's economy took off in the short term, are proof of this. Enterprise groups in the pursuit of economies of scale and economies of scope effect as well as the monopoly of the drivers of competitive advantage, the result of innovation monomer organizational structure of large enterprises. The particularity of the organizational structure of the Group is that: the flexibility to take the Group's internal market transactions or ACC two trading activities means the lowest transaction costs, thereby improving the efficiency of resource allocation. Enterprise Group access to external resources, the allocation of internal resources is reflected in the financial operations are concentrated. Enterprise groups in China, the late appearance of horizontal economic integration began in 1980, the birth of the first enterprise group - Group of steam, and then after a series of developments, the overall strength of the enterprise group is significantly enhanced. Beginning in 1999, the State asked the big companies, large group strategy to play a driving role in economic structural adjustment, improve economies of scale, and to accelerate the development of new products, enhance its international competitiveness. Group's financial management system, but with strong economic and social functions of the enterprise group, our Enterprise Group management theory is lagging behind, as Enterprise Group Management core content more Saussurea phosphorus angle, this Enterprise Group constitutes an obstacle to the further development of our country. I combine the past three years, on the theory of the firm, the theory of corporate organization, financial management theory, select the financial operations of the enterprise group related issues were discussed. The thesis is divided into two parts preface and foreword briefly described the background and basic ideas of writing, the text of four chapters fourteen sections, respectively, from the general theory of enterprise groups, the basic theory of the financial operations of the Group, the specific content and organization to build aspects to be elaborated. The first chapter describes the general theory of enterprise groups. Enterprise Group as a product of the modern enterprise system innovation, it still has the basic functions of the enterprise generates motivation is concerned, it is a monomer of large enterprises to obtain economies of scale and economies of scope effect, formed on the basis of market transactions internalization in Enterprise Group remains the market and the dual administrative coordination means, in essence, it is a business organization to the market organization gradually progressive intermediate institutional organization, is composed of a number of independent legal interests of the community, its boundaries uncertainty, under certain conditions, through the coordination of market coordination alternative within the Group, while reducing organizational costs without increasing the city lt; WP = gt; field of transaction costs, so that the economic running costs to a minimum. The enterprise group is constituted by a number of corporate hierarchy and openness organizational structure characteristics; From a legal point of view, the group as a whole does not have legal personality; their economic characteristics of the performance of international financial integration and market diversification of operations, production. Set from the organization point of view, the independent and dependent two basic organizational model Enterprise Group, coupling bond into equity-type, contract type and mixed type three. Special organizational structure characteristics of the enterprise group decided that its management should adhere to the strategic level, coordinated and systematic principle. The second chapter of the financial operations of the Group theoretical analysis. First, the financial operations to select a specific financial environment constraints, the specific financial subjects financial system, follow certain principles, use of necessary financial operation means and methods to achieve the established financial goals to take the sum of a series of financial behavior. The financial operations emphasizes the management process under certain conditions, including organizational setting to achieve your financial goals. Second, the financial system is a system of rules, and the key is the problem of the division of financial privileges total in terms of completely centralized financial system, financial system controlled dispersion, decentralized financial management system, and a fully decentralized financial system four types. Select the Group's financial management system should consider the funding relationship between the member companies, the costs and benefits of centralization and decentralization, organizational status, the group size and geographic distribution, and other factors. Again, the corporate financial operations of the Group target is to optimize the Group's long-term capital appreciation, both to overcome the tendency of the simple pursuit of economic efficiency, taking into account the characteristics of the Group's strategic. To achieve this goal, we must adhere to the principle of incentive as a means, as a condition to the principle of fairness in order to ensure the principle of flexibility. Finally, from the socio-cultural, political, legal, economic and corporate organizations to explore the factors of the environmental impact of the financial operations of the enterprise group. The third chapter, several specific content of the financial operations of the Enterprise Group. First, the need and the means of achieving the Group's financial control analysis: First, to establish and improve the financial decision-making mechanism of the subordinate member units, members of the corporate financial evaluation system and monitoring mechanism. Financial control of the content including special events in major funding of member companies, investment matters, day-to-day financial activities as well as mergers and acquisitions, liquidation, bankruptcy and other financial matters. Second, analysis of the Group's internal transfer pricing issues. Intra-group transfer pricing depends on the one hand, the Group's strategy, on the other hand to determine the characteristics of the management process, internal price choice of two basic types of cost and market pricing method. Multinational corporations, for example, the internal transfer pricing aimed at reducing the income tax, less customs duties, and enhance the competitiveness of the member companies in the international market, to reduce or prevent risks, to ensure the smooth return of overseas profits or capital. Finally, explore the capital management of the enterprise group. Enterprises lt; WP = 4 gt; significant characteristic of the Group's capital management business for production based around the production and operation of the scale of this goal, and to fully rise of the potential of tangible and intangible capital. Enterprise Group capital operation mainly through control of the operation to achieve a wide range of horizontal or vertical integration, not simply the scale, not only in order to obtain some direct capital gains, but in the super-normal growth of the Group's capital strength through capital operation to expand business areas, thus enhancing the overall competitiveness of the Group and the revenue stability. The fourth chapter discusses the organization of the financial operations of the Enterprise Group build. This is the focus of the paper. Enterprise Group set its internal organization is concerned, there are two kinds of independent and dependence. But no matter what kind of mode, must have a specific department to perform specific financial operations, including the Group's internal financial controls, transfer pricing, and capital operations, the Group's financial operations organization to build the stage of development must be combined with the Group, the scale of the situation, management layer level, the member companies of the tightness and externally through?
|