Study Value Creation Based Cash Flow Management

With the rapid development of China’s socialist market economic system and improvement of the strength of the economic marketization are enhanced rapidly,this requires our country listed company in the process of cash flow management,not only should strengthen its internal management,more should pay attention to the enterprise and the market. As the degree of market competition is intense,enterprise financial management goal is by previous profit maximization is converted into present value maximization,which puts forward higher requirements on the cash flow management is. Cash flow management is not an isolated activity,it is at the core of the business activities of enterprise assets,is also a form of enterprises operating results,in the daily operation management and enterprise financial management plays an irreplaceable role. Especially in recent years,numerous enterprises in the rapid rise of rapid decline,coupled with the financial crisis caused by a series of consequences,make the enterprise cash flow management in the core status of enterprise management,the management of cash flow and value creation organic union,to make enterprises in an impregnable position in the market economic system.From at home and abroad for cash flow management,and study of value creation,we see not hard,independent of the cash flow management and value creation research has reached a quite mature. Although there are many scholars to value creation thinking into the enterprise cash flow management,but not completely the value creation into the cash flow management model,to make both cannot be combined at a deeper level. And this article is to draw lessons from this line of thinking,has been clear about the new mode of cash flow management based on value creation.In this paper,the main research method is the combination of the theoretical research and case study method,through the research and literature review methods of internal data,access to more than 50 of the literature. Again,according to the literature to obtain in the cash flow management and value creation under the guidance of the theory,from the cash flow of the tactical and strategic management two aspects,SN company belongs to the retail industry,industry characteristics,the present situation,the particularity of SN company and SN company’s research and analysis of financial strategic planning, etc, to strengthen cash flow management to achieve the goal of maximizing the value for the company.This study aims to through the optimization of the management of cash flow,as much as possible to the value of cash flow in SN company in the industry management,make the largest contribution to the development of retailing. Domestic and foreign research on cash flow management and value creation has a lot of,but the SN company industry specifically for cash flow and value creation research rarely, combine the research is very little. Due to the cash flow of the retail industry, complicated structure,and sensitive to the factors of the market,its cash flow management has its own particularity. Master this article through to the SN company cash flow management of value creation,exploration,provide important basis for cash flow management in retailing.