Analysis Of The Impact Of Financial Sharing On Enterprise Working Capital Management

Since the end of the 20 th century,China's market has ushered in rapid development.In order to seek value creation,Chinese enterprises have begun to acquire more market share through a large number of mergers and acquisitions.With the rapid expansion of the mass,the complex organizational structure and slow operation efficiency of the enterprise group need to be solved urgently.In 2013,the Ministry of Finance issued the "Code for the Work of Enterprise Accounting Informatization",which clearly pointed out that large enterprise groups with a large number of molecular companies can build a financial sharing system based on information technology to achieve resource integration and improve operating capabilities.At present,many enterprises in China have established financial sharing systems,which have effectively improved their operating capabilities and brought considerable benefits to them.This article takes China's manufacturing industry benchmark Midea Group as the research object,and based on financial sharing from the perspective of working capital management,explores the process of Midea Group's construction of an innovative financial sharing system,and from process reengineering theory,channel management theory,and value Network theory studies the ways in which the financial sharing system affects working capital management capabilities,and studies the implementation effect of the financial sharing system through working capital management performance.The research found that: financial sharing can effectively integrate corporate resources and reduce operating costs;financial sharing in-depth various modules to promote the unification of group standards;financial sharing connects member unit business units to achieve supervision of working capital;financial sharing system promotes industrial interconnection and collaboration Body production.This all directly affects the operating turnover efficiency of the enterprise group,rationalizes the operation and circulation channels,and greatly improves the working capital management ability.In this regard,based on the study of financialsharing,this article puts forward four suggestions for group companies: to improve the efficiency of working capital by reengineering embedded financial sharing processes;to unify module standards to accelerate working capital circulation;to build a financial sharing system that deepens business units to strengthen working capital Supervision;building an interconnected community based on working capital.The research in this paper advocates the practice of enterprises seeking value creation based on the financial sharing system,which has enriched the literature on the impact of the financial sharing system on the working capital management ability to a certain extent,and has a reference role for the construction of the financial sharing system for enterprise groups.