D. Research On The "cash Pool" Fund Management Model Of Multinational Groups

With the continuous development of economic globalization,making economic interdependence,mutual penetration greatly enhanced,all kinds of barriers to hinder the free flow of production factor around the word Increasingly weakened,multinational companies as an important Driving force of the economic globalization was born,its development has had a huge impact on the world economy pattern.It is not only a "barometer" of the national economy,but also a"litmus test" of policies to attract foreign investment and a "weathervane" to predict the economic trend.Since the 1980s,with the continuous deepening and improvement of reform and opening-up,China,as an important part of the world economic system,has been favored by global multinational companies,and their branches have started to spread all over China.We all know fund is important guarantee for enterprises to survive and development,if there is no sufficient funds to support,the enterprise is unable to grow,so improve use efficiency and reduce the use-cost of fund is an issue that every enterprise must give full attention,especially multinational company which facing a bigger test and more difficult problem.Since the business development level of each component organization is certainly not the same,which causes the demand for fund is different.If they have the same amount of fund and adopt decentralized management,it is easy to cause use efficiency is too low and use cost is too high.Therefore,more and more transnational groups adopt the centralized management mode of fund,unified allocation,unified adjustment of surplus and shortage,which can not only alleviate the problem of capital turnover quickly and effectively,but also significantly improve the utilization rate of fund,reduce financing costs,integrate internal resources,and control corporate financial risks.This thesis summarized the existing advantages and disadvantages of several kinds of fund management model,with large multinational companies D group as the research object,through analysis of the current fund management mode of this enterprise to introduce to cash pooling.This model can not only strengthen the group company’s control over the cash flow of each subsidiary,make fund together,reduce idle fund and improve use efficiency.Moreover,it can make use of the advanced management methods and tools of the bank,combine with professional financial software to serve the enterprises to achieve excellent result.The thesis mainly introduced the D group how to use cash pooling,as well as the points should pay attention to in use process.Finally,the shortcomings and improvements of the cash pooling are analyzed.It is hoped that more group companies can learn from the experience and establish an efficient and safe fund management system to promote the stable and healthy Development of enterprises.