The Capital Management Problems And Countermeasures On YR Highway Construction Project

In recent years, the long-lag of the highway network has become a bottleneck limiting t he development of national economy seriously, so the highway construction was booming e verywhere. The highway construction projects have the features of large-scale capital invest ment, long construction period, and long payback period. The building of highway costs a lo t of money, human resource and material resource. Along with the highway construction boo m, a series of questions has occurred in the fund management process of the highway constr uction projects, such as:the unreasonable fund structure, the loss, misappropriation and inter ception of the funds and so on. These problems affected the operational efficiency and effect iveness of funds management of the highway construction projects seriously, and limited the sustainable development of the highway construction companies. Therefore, finding the fun d management problem of the highway construction projects, analyzing the causes of these problems and proposing targeted measures and suggestions is of theoretical and practical sig nificance for improving the fund management efficiency and effectiveness of highway const ruction projects and promoting the sustainable development of highway construction compa nies.The YR highway construction projects used as the specific case, combined with the fun ds management theory, stakeholder theory, asymmetric information theory, the paper discuss ed the main problem existing during the three stages of highway construction projects——t he period before construction projects, the period during projects construction and the perio d of the project final stage. The paper also analyzed the causes of these problems, and propo sed measures and suggestions to improve continuously the fund management of the highwa y construction projects. The main Content of the article as follows:Chapter1is introduction, including the background and significance of this study, the r esearch status, content and ideas, research methods, and innovation. Chapter2is the basis of the study, including the fund management theory, stakeholder theory, asymmetric informati on theory, the internal control theory and principal-agent theory. Chapter3is the analysis of the problems and the causes of fund management of YR highway construction project. First, a brief description of highway projects on construction of the "Eleventh Five-Year" period. And analysis of highway project construction funds, capital demand, capital investment peri od, the gearing ratio and the rate of return "two high". Of YR highway construction projects, from pre-construction, during the construction and completion of final accounts of the three phases proposed a series of problems that exist in the management of funds, the①projects upfront capital management issues, such as the financing structure is irrational, funds are not available;②project construction period capital management issues, such as project constru ction fund to use non-standard, and financial officers fund management is not strong risk aw areness, etc.;③the accounts of the project construction phase of capital management issues, such as project accounts settlement funds audit and review of unreasonable, not in place. F inally, on the basis of the above researches, this paper analysis the causes of the YR highwa y construction projects management issues from both internal and external dimensions of th e YR highway construction projects. Chapter4is countermeasures and suggestions to impro ve the YR highway construction projects management issues. This chapter puts forward corr esponding countermeasures and suggestions to solve the problems of highway funds manag ement from three stages of the completion of the project pre-construction, during project co nstruction and project accounts. Chapter5is conclusions and outlook. This chapter briefly d iscusses the full text and summarizes several important conclusions of the article.Through this research, we hope to understand deeply the status and the problems of the financial management of the highway construction projects in China, in order to upgrade th e management level of the highway construction projects.