Research On Enterprise Performance Management From The Perspective Of Financial Flexibility

With the acceleration of globalization and the deepening of integration among global economies,enterprises are facing uncertainty in their business environment in the post pandemic era.How enterprises can effectively carry out reasonable production,operation,and investment and financing under adverse external environmental conditions has become a key research topic in the academic community.Financial flexibility is the ability to prevent adverse impacts and make effective investments when facing better investment opportunities.High financial flexibility enables enterprises to better respond to risks and seize opportunities,facilitate flexible response to investment opportunities and negative impacts,and provide guarantees for improving corporate performance.Therefore,having high financial flexibility is particularly important for the development of enterprises.Based on uncertainty theory,flexible organization theory,and pecking order financing theory,it analyzes from two aspects: industry analysis and company case studies.Industry analysis: first,analyze the financial characteristics of the software and information technology service industry,take the COVID-19 at the end of 2019 as the test factor,and conduct a quantitative and qualitative analysis of the financial flexibility level of the industry.Then,divide the industry into two groups according to the level of financial flexibility,and investigate the financial flexibility of enterprises with a high level of financial flexibility and enterprises with a low level of financial flexibility in the face of adverse shocks,Showing different levels of corporate performance.Company Case Section: Taking Guanglianda Company as an example,this study provides a detailed understanding of the company’s financial flexibility,explores from a perspective,and explores the factors that influence corporate performance from the perspective of financial flexibility.Research has found that:(1)at the industry level,when facing adverse impacts,companies with higher financial flexibility can maintain better corporate performance compared to companies with lower financial flexibility in the industry;(2)Guanglianda’s reasonable financial flexibility reserves have contributed to maintaining its core competitiveness and increasing the company’s performance in the fiercely competitive environment of the industry;(3)The financial flexibility of Guanglianda Enterprise Reserve includes increasing cash flexibility and increasing debt flexibility,which is manifested by maintaining a high level of internal available funds while keeping the asset liability ratio lower than the industry average;(4)Guanglianda actively reserves financial flexibility to promote corporate performance,and analyzes the influencing factors of this promotion effect.Analysis has found that Guanglian Da maintains high financial flexibility and has a positive impact on corporate performance through active fundraising strategies,active investment strategies,and releasing positive signals through allocation activities.(5)External environmental factors have both positive and negative impacts on Guanglian Da,but overall,the positive impact is greater than the negative impact.In order to reduce potential financial risks in the development process and cope with the unpredictable national environment,this article proposes countermeasures and suggestions on how to improve corporate performance through financial flexibility arrangements,including increasing cash reserves,maintaining moderate cash reserve flexibility,reducing corporate debt,maintaining moderate debt financing flexibility.With the aim of improving Guanglianda’s financial situation and enhancing corporate performance through the research and policy recommendations in this article.