Research On Centralized Management Of Funds Under The Treasury Mode Of Enterprise Group ——Taking P Group As An Example

With the gradual deregulating of financial supervision and the emerging of information technologies,it has been an inevitable choice for enterprises to promote industrial upgrading and transformation.The demand of internal fund management of enterprises is climbing during this progress,whereas occasions still exist like inefficient use of funds,high cost of financing and the inability to effectively allocate capital resources in China.What requires us is to improve and upgrade the funds management system continuously.Under this circumstance,enterprise groups that representing strong capabilities concerning capital and technical resources,need to actively adjust their own centralized fund management model to improve the scale efficiency,which will prepare themselves a strong financial support for the long-term development.Centralized management of funds under the treasury mode,aiming to implement the macro strategy,is based on the continuously upgrading and versatile fund centralized management system.By making use of advanced management systems and technological methods,enterprise groups obtain benefits to further improve the efficiency of fund management.Nowadays,the study in China is an attempt in the application stage with obvious deficiencies and unfulfilled advantages.Therefore,it is of great significance to study the centralized management of funds under the treasury mode.This thesis first defines the concepts of “centralized management of funds” and “treasury management”.Starting from the theory review about principal-agent,internal capital market and so on,the thesis discusses characteristics,application scope and pros＆ cons about several models existing.Secondly,the thesis elaborates the current situation and main problems of this mode in Chinese enterprises.Thirdly,the basic situation of P group as the research object is introduced and the current status of this mode is summarized.By analyzing this mode from multiple dimensions from financial data to indicators,the thesis summarizes problems according to the results of effect analysis and field investigation.In the end,specific solutions to the problems existing in this mode in Chinese enterprise groups are put forward according to the analysis of the status quo and the case study.In sum,this thesis provides reference for some enterprise groups which need to be standardized and improved.