Analysis On Some Financial Problems Of The Enterprise Group

Recently, with the realization of assets reorganization, industry alliance and cross-industry cooperation, lots of enterprise groups emerge. While in China, the enterprise groups have some financial problems, which cause low profitability, loss of assets, lack of sustained management and developing capacity, even bankruptcy. So, it is meaningful to analyze the financial problems of enterprise groups in both macroscopic layer and microscopic layer.The paper first analyzes the characteristics of enterprise group. It points out that the enterprise group is different from ordinary economic association. The enterprise group is an economic organization mainly established by capital. And there is an influential key enterprise in it, on which core layer, tightness layer, tightness layer and loose layer are established. The characteristics of enterprise group include consistence of many independent artificial person, co-existence of many layers, multi-ligament coupling, management, multi-nation competition, combination of industry and finance, and etc. And there are three kinds of models: stock rights model, contract model, and combination of former ones.The structure of financial control in enterprise group is a sub-system of company's control structure. As an important aspect of company's control, its purpose is to resolve the beneficial conflicts caused by entrusted agent. The heart of financial control's structure is to clearly divide the rights and responsibility of share-holder commission, directorate, board of supervisors and managers, for keeping the balance of different interest sides and ensuring the efficient run of financial system.The financial strategy of enterprise group belongs to the whole strategy of group, and it restricts as well as supports the realization of the whole strategy. The correct and efficient financial strategy is able to help its enterprise achieve the advantage of continuous competition and the increase of stockholder's value. In management form, the financial strategy of enterprise group have has types: expansion, maintenance, adjustment and stable development .And, according to its matter, it can also be categorized as other three types: investment, raising fund and dividend distribution.The financial control of enterprise group is group's company-oriented. Its purpose is to help the chain of group's capital develop for realizing the maximum value in some ways. There are three types of financial control: unitarianism, decentralization and combination of both.In modern enterprise's financial management, capital management has more and more important role. It is the heart of financial management. So, if the capital can be controlled, majority of subsidiary companies can be controlled. There are many models of capital management, which all have their advantages. So, the groups should choose the most suitable model, according to groups'management environment and their financial control model.The paper compares and analyzes the financial management structure, financial strategy, financial model and capital's centralized management in enterprise groups, for achieving the maximum value. And we hope the paper can help different types of enterprise group to manage their finance efficiently.