Corporate Financial Value Chain And Its Management Study

The 21st century is the era of knowledge economy, in the face of economic globalization, enterprises in the fierce market competition must grasp the opportunities to meet the challenges. Analysis, to obtain and maintain competitive advantage in business development in the pursuit of value-added and realize the value of value creation is the strategic objectives of the modern enterprise. In the middle of 1980, the rising of the value chain theory study is gradually integrating into the financial management activities, forming a new financial management content based on value chain. Based on this, the main contents of this paper are following:Firstly, this paper points out the relationship between the enterprise's value chain and enterprise financing, financial process, financial value creation after summarizing the enterprise's value chain management theory. On the basis of previous studies, this paper analyzes the necessities and possibilities of studying financial value chain, and explains the meaning, characteristic and significance of enterprise's financial value chain.Secondly, this paper puts forward the ideas to describe, analyze, optimizatize and reorganize enterprise's financial valued activities, integrating the enterprise's value chain analysis approach and financial process reengineering approach. Thirdly, in order to harmonize the operation of the financial value chain, we need to take effective to manage financial value chain, including financial department restructuring, financial value chain relationship management, evaluation of the financial value chain and financial value chain management performance evaluation.Lastly, this paper selects the real estate companies in Shanghai and Shenzhen stock exchange to do empirical analysis on enterprise finance value creation. It is mainly to choose the financial indexes to substitute the value of enterprise's financing and corporate profits and to do linear regression analysis to test the value of the financial activities impacts on corporate profits.