Research On Centralized Mode And Operational Mechanism Of Capital Management In A Expressway Group

The capital management is the primary element of enterprise financial management, as well as the core component of business management. Nowadays, it is a very common phenomenon that the enterprise groups have large size but with weak profitability and inferior management, and the advantages of resources usually are neglected. With respect to capital management, there are some severe problems such as capital decentralizing, insufficient supervision and low usage rate. Refer to the developing history and experience of famous enterprise group in this world, it is a inevitable way for our groups to promote the abilities of capital coordination, control and sharing that the centralized capital management must be implemented.A expressway group is a large-sized exclusively state owned enterprise, and is founded with the approval of provincial government. The company is mainly engaged in the investment, construction, management, maintenance and operation of the expressways, and runs finance, real estate and material businesses, with about 200 independent accounting unit in all levels, the service spreading all the nation. Because expressway is the capital intensity industry, there is more space for expressway groups to enhance profitability by capital management innovation. At present, the capital management A group is in low efficiency, and the deposit and the bank loan are both high. The insufficient capital management capacity has already restricted the development of the group, and it is the pressing affair to enhance capital management and reduce the financial expenditure.Based on the theories of centralized capital management, by analyzing the present status of capital management in A group, this article points out the existing problems and necessities to implement centralized capital management. By comparing the five methods of centralized capital management that are generally applied in the domestic enterprise groups, this article chooses capital settlement center as the implementation mode. Based on the industrial characteristics, business environment, and the management present situation of A group, it elaborates the operational mechanism such as the frame construction, institution establishment, software system construction, the core module of software of the capital settlement center. Moreover, by combining the reality, it proposes the concrete procedure of implementation, and formulates the centralization and decentralization strategies of different stages in detail. Finally, it analyzes the probable problems and put forward the Countermeasures.