| Many large coal enterprises in China have many problems such as numerous branches,complex organizational structure,difficult control of capital flow and diversification of capital risks.China’s enterprise groups appear relatively late.Most of the group’s member units operate independently.The group’s funds are distributed and managed.This management method has brought the group’s capital turnover rate to a low level,unable to exert its overall advantages and synergies,and it is difficult issues such as optimal allocation of resources for the group.L Group is a traditional large-scale state-owned coal enterprise group.As the coal industry continues to decline,L Group began to seek transformation and upgrading.How to optimize the centralized management of funds is of great practical significance for the L Group to safely pass the transformation and upgrading period.This paper is a case study of L Group,mainly study the problem of centralized management of funds of group finance companies.The content can be divided into six parts.The first part introduces the research background and significance of this paper,related research,research methods and paper structure at home and abroad.The second part elaborates the basic theory and characteristics of centralized fund management and the functional orientation of the financial company.The third part introduces L Group and its financial company and analyzes the current situation of centralized management of L Group finance company.The fourth part analyzes the problems existing in the centralized management of L Group funds and the possible causes of the problems.The problems are as follows: the financial company has low capital collection,the accounts receivable is overdue,the bill assets are out of supervision,and the financing costs are the risk of default on credit assets is increased and the degree of informatization is low;the specific reasons for the above problems are that the willingness of member units to cooperate with funds is not high and the amount of funds that can be collected is small,the credit policy for credit customers is lacking,and the tracking of accounts receivable is not in place,the use of bills is extremely large,and each member unit manages its bills independently,the financing channel is not diverse and the industry situation continues to decline,the information construction is not emphasized,and the corresponding information management system is lacking.The fifth part proposes the optimization strategies for the above problems of the centralized management of L Group finance company,including: mobilizing the enthusiasm of member units and seeking financial innovation;improving the credit rating process of credit customers and strengthening the track of accounts receivable,establish a bill pool to centrally manage the group’s bill assets to achieve mutual circulation of bills within the group;optimize financing channels while improving the fund risk management system to reduce capital risks;attach importance to information talent training while improving the information system,and realize financial information and group organic integration of other information.The sixth part is the summary of the paper,which explains the research conclusions,main innovations and limitations of the research.This paper adopts the research methods of literature research and case analysis.The main innovations are as follows.First,there is a certain new perspective in the research perspective,and the research focuses on the centralized management of funds in the coal industry finance company.Second,the enterprise group conducted an exploratory study using the bill pool to centrally manage the bills receivable,and to some extent supplemented and developed the existing research results of the centralized management of the enterprise group funds. |
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