| More and more enterprise groups have gradually converted from extensive capital management to centralized capital management.As A non-banking financial institution subordinating to enterprise groups,financial companies are an effective model of centralized capital management for enterprise groups,is also the general tendency that enterprise group carry out the centralized management of the fund.Financial companies can provide various kind of financial services for enterprise groups,by effectively reducing the cost of fund use,improving the level of centralized management of enterprise groups' funds,finally realize the optimal allocation of funds of the enterprise groups and form up the capital scale economic advantage,further improve enterprise groups' controlling ability over funds and efficiency in fund utilization,therefore enhance the core competitiveness of enterprise groups.Compared with foreign countries,the development history of financial companies in our country is relatively short,it's influenced by their own level of capital management,enterprise group intervention,national regulatory policy and many other factors,so there are still many problems existing in the process of centralized management of funds.In order to better understand the operation of centralized management of funds in financial companies,this paper has obtained rather good research results by taking Group A Finance Company as the research object,combing the theory of centralized capital management of financial companies with specific cases.First of all,based on the relevant theoretical basis,this paper analyzes the concept of finance company and its necessity and superiority the funds central management as enterprise group by reading the relevant literature on the funds central management of finance company.Secondly,this paper takes A Group Finance Company as the object of case study,and compares the various business data for the same period of other finance companies with similar asset size,At the same time,this paper draws on the industry statistics and industry development reports provided by China National Association of Finance Companies,and finds problems in the process of funds central management,such as low fund concentration,insufficient support for the group entity industry by the credit business,low profit level,and poor talent structure.Thirdly,this paper analyzes the reasons for the problems found in the process of funds central management of A Group Finance Company,such as the lack of effective management and control of the Group,the insufficient innovation of financial service capabilities,the lack of stable sources of medium and long-term funds,the excessive liquidity,and the lack of differentiated management on human resources.Finally,this paper proposes specific improvement measures for existing problems,such as strengthening management,control and assessment of the Group,improving innovation capability of financial service,expanding the stable sources of medium and long-term funds,developing financial services to extend the industrial chain,improving the risk management mechanism of liquidity,optimizing the compensation structure and so on.Through the research on the funds central management of A Group Finance Company,the author hopes that this paper can improve the central management level of A Group Finance Company,providing favorable guarantee for the ultimate realization of the development strategy of A Group Finance Company,and provide some reference for the funds central management of other group finance companies. |
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