High-tech Enterprise Cash Flow Management Study

The high-tech enterprise is the backbone of knowledge-economy, the engine of economy increment and the focus of market competition in the 21st century. But owing to the three characteristics of high-tech enterprises, such as high investment, high risk and high development, the issue of its value management becomes the nodus of the current financial management.Enterprise value is a function of the amount, timing and uncertainty of future cash flow, which the assets in existence can create. So the thesis put forward that concrete and operative cash flow management (CFM) is an effective approach to achieve the abstract objective of enterprise valuation maximum. Furthermore, the thesis creatively established modern financial systems focused on cash flow.On the basis of analyzing the current situation of CFM in high-tech listed corporations, the thesis brings forward the methods of CFM including due-bang financial analysis system after introducing into the cash flow, cash flow forecast and the achievement evaluation based on the cash flow. Furthermore, the thesis systematically dissertates that, in the high-tech enterprises' rudimental businesses, such as operation activity, investment activity and financing activity, how to availably make CFM decisions which should accord with the principle of valuation creating. Lastly, from the point of CFM, the paper probes into the feasible approach that can promote the durative development of high-tech enterprises. The research results have vital significance to strengthen financial management of high-tech enterprises and improve its development.