Financial Management Innovation:Influencing Factors,Mode Selection And Path Planning

Along with the economic globalization gradually,the competition between enterprises has become fierce and normalized.Financial management as the main means of value-added,its position in the enterprise management is also increasingly important.However,the traditional financial management has been unable to meet the basic needs of the modern enterprise development,and restricts the efficient development of the enterprise to a great extent.In this macro backdrop,the financial management innovation is more practicability and urgency.Pursuing innovation has become the enterprise eternal topic,and also become the major strategic intent of national economic development.In the modern concept of enterprise development,only by constantly innovation and changing management model and management ideas,the enterprise can occupy more market share and win the more space for the survival and development.At present,the academia has research focus on the field of technology innovation;the research on enterprise financial management is few relatively.Therefore,the research of enterprise financial management innovation has both theoretical and practical value and significance in today's society,which can guide the enterprise to obtain competitive advantage through the financial management innovation and improve the development quality and operation efficiency.In view of this,based on the adaptation theory,successful implementation of financial management innovation of domestic enterprises as the research object,this paper analyzes financial management innovation path through case analysis,combining with theoretical analysis and empirical analysis methods to promote the basic goal of enterprise financial management to work effectively.In this dissertation,the main research work and conclusions are as follows:Firstly,exploratory case study method is applied to identify Chinese enterprises'financial management innovation driving factors,and support factors or hinder factors,so as to lay a foundation on exploring the pattern and path planning of financial management innovation.First of all,based on process stages of case analysis,identify the influence factors of enterprise financial management innovation,and analyzes the mechanism of them.Secondly,using the ATLAS ti5.0 qualitative data analysis software,and use the qualitative data analysis to test financial management innovation factors.Finally,research hypotheses are put forward according to the qualitative data analysis,and empirical test the factors which influence on the financial management innovation.Research results show that the development strategy,financial management,and resource constraints are the main driving factors of enterprise financial management innovation;however,entrepreneurs,enterprise's own management ability,technical skills and capital ability can provide effective support for the implementation of the financial management innovation,when these abilities are insufficient,they will block the financial management innovation.Secondly,according to the clustering analysis on sixteen sample enterprises,construct an adaptation framework for the influence factors of financial management innovation and entrepreneur orientation,and also an adaptation framework for entrepreneur orientation and the financial management innovation model.This dissertation constructs a three layer adaptation model for the influence factors of financial management innovation,entrepreneur orientation and the financial management innovation model.Research results show that there are four types of entrepreneur orientation:negative responder,follower,positive responder and leader of financial management innovation;entrepreneurial orientation is the function of the influence factors of financial management innovation;the enterprise financial management mode is the function of entrepreneur orientation.Research results also show that the adaptive model has four:the fit model of the financial management innovation negative responder can express as resource constraints??negative responder??(no/less innovation + imitation innovation);the fit model of the financial management innovation follower can express as{(development strategy),financial management problems,resource constraints,management capability} ?? follower??imitation innovation(+Advanced innovation);the fit model of the financial management innovation actively responder ??{development strategy,financial management problems,resource constraints,entrepreneurs,management capability,technical capacity,capital capacity }??actively responder??advanced + radical innovation;the fit model of the financial management innovation leader??{development strategy,financial management problems,resource constraints,entrepreneurs,management capability,technical capacity,capital capacity} ??leader??radical innovation.Thirdly,this dissertation studies the problem of enterprise financial management innovation path planning.First of all,this dissertation discusses the static path of entrepreneurs with different types of financial management innovation and the dynamic domain.And then,this dissertation optimizes the financial management innovation path using dynamic optimization method,and analysis the the transition mechanism and mode of enterprise financial management innovation path.The conclusion of this study distinguished two types of the financial management innovation path transition mechanism:one is "no/less financial management innovation ? mutant financial management innovation path ? mutant+advanced financial management innovation path";another is "no/less financial management innovation path?advanced financial management innovation path ?mutant + advanced financial management innovation path".Fourth,this dissertation empirically test whether there is a split or not of research conclusions by using a single case study.The research conclusion shows that there is no dividing.Based on the above research process and the research conclusions,we can get the following enlightenments:Enterprise should strengthen the cultivation of entrepreneurs and personal leadership in the daily operation and management,as well as build an innovation-oriented corporate culture,and then strengthen the organization innovation consciousness and ability.Through this way,it will improve enterprise's entrepreneurial orientation,make the foundation for the implementation of advanced forms of financial management innovation model and ensure enterprise further achieved great development in highly uncertain environment.Enterprise should depend on both the mutant enterprise financial management innovation and gradual type financial management innovation to guarantee the opportunity to develop.In this dissertation,the main improvement and innovation is as follows:Firstly,based on process view,the financial management innovation process is divided into decision-making stage and implementation stage,and use exploratory case study method to identify driving factors and support factors of financial management innovation.On this basis,obtain qualitative data through the investigation,and use the qualitative data analysis to test financial management innovation factors(including drive and support/resistance factor).Finally,research hypotheses are put forward according to the qualitative data analysis,and empirical test the factors which influence on the financial management innovation.Research conclusion can help enterprises determine critical factors which need to focus in the decision-making and implementation practice of the financial management innovation.Secondly,introducing the entrepreneurial orientation construct,and build the adaptation model of enterprise financial management innovation model based on the theory of adaptation.First step,build adaptation framework for the influence factors of the financial management innovation and entrepreneurship orientation through exploratory case study.The second step,build adaptation framework for entrepreneurial orientation and the financial management innovation mode continue using exploratory case study.Finally,construct three layers of adaptation model for the influence factors of the financial management innovation,entrepreneurial orientation and innovation mode.Research conclusion can help enterprises identify the internal resources and external environment,so as to develop and implement financial management innovation model with its own actual situation.Thirdly,this dissertation discusses the enterprise financial management innovation path planning problem,and builds the static and dynamic dual mode from a dynamic perspective,so as to put forward a strategy for the transition path of enterprise financial management innovation.This dissertation describes financial management innovation static paths of different entrepreneurial orientation,and discusses the financial management innovation model of path planning using the dynamic optimization analysis.Further,this dissertation introduces time variable,and explores a optimal financial management innovation path within the feasible region.This dissertation finds that the mutant + gradual is the ultimate goal of financial management innovation path.Research conclusions can help provide theoretical guidance for enterprises planning financial management innovation path.In addition,this dissertation empirically tests whether there is a split of research conclusion using a single case study,and provided a vivid example for the financial management innovation mode selection and path planning.All in all,based on the successful typical Chinese enterprise financial management innovation practice,through the deep research,this dissertation studies the influence factors of Chinese enterprise financial management innovation,the mode selection of financial management innovation as well as the long term financial management innovation path,which will help disclose characteristics and rules,and share the creative cases in a larger scope,also help promote the enterprise financial management innovation,as well as improve the ability of Chinese enterprise financial management and promote the enterprises to grow sustainably and healthily.