Effect Evaluation Of L Capital Operation In Capital Pool

With the continuous development of international economic integration,the development level and size of business groups and the continuous expansion of business areas,the management of its funds and the use of cost and so put forward new challenges.L Group is an oversized chemical enterprise group.As a large state-owned group,L Group has been the capital management as the focus of daily management.In 2014,L Group,the introduction of capital pool management model,at the same time,centralized management of funds on the line,on the basis of the Group to achieve the co-ordination of the funds operating system.Although the centralized management of funds has achieved some results,but it is undeniable that the model there are many deficiencies.These shortcomings reduce the effect of centralized management of funds,the system needs to be further improved.There are few studies on the optimization and improvement of the funds centralized management project of large-scale group,so this article has some guiding significance.In this paper,L enterprise group as the case study object,from the perspective of capital operation and management of the Group's self-management of the management of funds to evaluate the framework.In this paper,the author uses the theory of transaction cost and its extension theory of capital concentration as an internal capital market theory as the research means,using the analytic hierarchy process and the efficiency coefficient method to analyze the security,profitability and liquidity of fund management operation This paper analyzes the problems and causes of L Group's centralized management of funds in risk control,fund raising cost,capital liquidity and profitability and information system construction in three aspects.In view of the above analysis,the improvement suggestions proposed in this paper include:strengthening the risk management based on risk management structure and system,continuing to improve the efficiency of capital use,and strengthen the whole process of capital management of information management three aspects.I believe L Group through the above three aspects of optimization,will make its centralized management of funds more perfect.At the same time,the practice of centralized management of funds on other large state-owned group of funds management also has a reference.