The Research On Fund Security And Risk Control Of Enterprise Group

The enterprise group, as a result of the highly developed social production and market economy, has become one kind of organizational forms which was widely used by large-scale enterprises in the world. The organization form, take capital as the link and take "investment-risk-income" as the principle, is generally one has a stronger competitive trans-regional, cross-ownership and cross-sector legal united entity. Then, the core of enterprise group for business management is how to control and use all subsidiary companies'cash flow to guarantee security and fluidity of cash and efficiency of keeping cash.From the point of enterprise group's internal governance and safeguard cash, using theoretical research and empirical analysis, based on risk control, the frame of enterprise group's cash security was set up. In theory, the paper summarized the fundamental principles and relationships of enterprise group's financial management and internal control, and analyzed the existing cash problems of China's enterprise groups. Meanwhile, combining cash security and financial control, the paper proposed studies of framing enterprise group's cash security and expounded each element in details. In empiricism, on the basis of the multi-factor analytic hierarchy, the model of the system of enterprise group's cash security and risk prevention has established. And then, applying the model to practice, we evaluate the goal group's system of cash security and risk prevention comprehensively. Moreover, the paper processed enterprise group's common laws through searching large numbers of documents and materials, and coordinated a series of analysis of cases. Take the common laws as the clues, some serious problems on enterprise group's cash security and must be solved have been investigated.The paper establishes the criteria for classifying about enterprise group's financial mode of operation by analyzing enterprise group's types, essences and the cash flow features. And divides it into five modes: uniform receipts and expenditure, allocation of spare, setup clearing house, setup in-house banking and finance company. Furthermore, combining theories and cases of financial safety of operation, we discuss and analyze the group's financial features of operation and root causes of risk emphatically. And safe capital flow is of the most importance for enterprise's survive and development. Capital management of enterprise should start from drawing up the plan to operating, financing and investing in order to accelerate capital operation and reduce financial risks. Uniting ERM, the basic concept of capital risk management of our country's enterprise group should include setup objectives, risk identification, risk assessment, risk response and monitoring activity.While constructing the model, the paper chooses basic indexes and assistant indexes to weight security management and risk prevention. Empowering these indexes, and the indexes furtherly evaluate the quality of capital security management and risk prevention system. At the same time, we improve the key factors in system for the purpose of improving it. And the key factors are macro factors (including exchange rate, interest rate and inflation) and micro factors (including improved key factors of cash flow and capital structure, improved factors of profit, cost, and effect development and so on). Improved process is risk analysis-risk of warn and evaluation-risk control-information feedback and evaluationOn account of the key factors, which have impact on enterprise group capital security, the frame of comprehensive financial risk management is constructed. And the frame is composed of warning system, safe guard and control system and feedback system. The warning system sounds warning for potential financial risks and suggests managers precautionary measures; Safe guard and control system weights the risk's nature and size through recognizing and analyzing extant financial risk, and suggests prevention and control of financial risk. And these suggestions on prevention and control of financial risk refer to financing risks, investing risks, capital operating risks and profit distributing risks; feedback system include judgment system and correction system on financial risk management, analyzes timely financial risks occurred in the enterprise, summarizes experience and lessons and puts forward effective ways and measures to cover the shortage consisting in warning system and control system.Ensuring capital security of large-scale enterprise group is not only a current urgent task in national economy, but also the key to the success of economic reform. There will be certain directive significance on the reform of Chinese enterprise groups, if their fund security issues are solved. In addition, building a healthy financial system in large-scaled enterprise group is also an important access to enhance the cohesion, resist the market risk, build the market confidence, encourage large-scaled international investment flow into domestic. The research of this paper enrich the content of the study in enterprise groups and financial control through this paper.