Research Of The Mutual Transformation's Influence Factors Between Value Creation And Risk In Enterprise Cash Flow Operation

Enterprise cash flow management services in enterprise value creation, cash flow is a key driver of enterprise value creation(Chen zhibin,2002). However, the principle of two contradictory tells us:cash flow not only the value created a character, it also appeared on the reverse side of the-risk. In practice, one can use cash flow to create value for enterprises, but also bears the risk of cash flow. Cash flow value creation for sexual and risks like a pair of twin brothers are inseparable. Furthermore, the two characteristics' status of cash flow, in certain situations or under the influence of some factors, often appears to change. In the financial crisis, the fact that many once use cash flow to create value fell into cash flow risk whirlpool, symbolise both out of cash flow value creation and risk change. This study aims to explore factors affecting the change of cash flow value creation and the risk in our country enterprise.In order to achieve those objectives, based on the full review related research material, on the basis of the first to enterprise cash flow value creation and risk, appeared on theoretical analytic transformation and lay a theoretical foundation for the full text. Then, this paper adopts case study method, first collect enterprise practices of our country experienced the change of cash flow value creation and risk, then conduct detailed information of arrangement, analysis and summary, finding factors behind. Finally, dug up these influence factors classify.This study forms the factors from three aspects:the enterprise management level, market level, government level. Among them, the enterprise management level is internal, predominate, basically include 11 categories like financing mode, marketing mode, management pattern, the defects and the innovation, technology:product quality, cost, cost management, internal control, asset reorganization, industrial transformation and upgrade of industry, enterprise investment, merger:specialized or diversity. Market level and national and government level are external. The market level include five categories like production cost fluctuations, partners with scattered, market rumours together, the capital market signals and market supervision; Government level include three categories like the national macro-control, government financial support, national policy.