Research On The Influence Of Financial Flexibility On Value Of Companies

In recent years,China's economic level has gradually entered a critical period of transition,the relevant enterprises are also eager to find a management level can be put up,and the investment environment to improve the program,trying to change the economic growth method.In the rapid development of market changes,enterprises survive and develop the road is very difficult,constantly looking for enterprises to maximize the value of all kinds of investment opportunities and business activities.An important manifestation of business results is the value of the business,belonging to the long-term indicators,and want to maximize the value of the best way to achieve the correct implementation of a financial strategy.When the market funds are not sufficient enough,and the uncertainty of the market continues to increase,it requires the company's management to choose a more reasonable financial policy,making the enterprise can have a stronger risk resistance,Can be sustained and healthy development.It is an indispensable condition to study the specific level of financial flexibility in China,and it is an indispensable condition to study the investment behavior of enterprise management,and it is of certain significance to the management of accurate and effective investment.Capital structure theory is a bifurcation of the emerging emerging financial flexibility,financial flexibility on the value of the enterprise more and more significant,financial flexibility has also been a lot of experts and scholars at home and abroad gradually attention.And a company's financial flexibility has a close relationship with the following aspects:investment strategy,financing means,equity allocation and so on.There are game behaviors among the various stakeholders of the enterprise,which affects the level of financial flexibility of the enterprise.This is also through the combination of the current market competition,the external economic environment and the related industrial policies.With the current changes in China's capital market environment more and more turbulent,in order to enable enterprises to face the situation in the future when the situation can be timely and effective treatment,which requires companies must have sufficient financial flexibility,the financing of enterprises And financing to promote the role of the results will lead to changes in corporate value.In addition to the application of the principal-agent theory and the free cash flow hypothesis,this paper introduces the theory of real option and information asymmetry,and lay a solid theoretical foundation for the later studies.The From the level of enterprise growth and the nature of property rights and other aspects of its financial flexibility to a sufficient measure of financial flexibility will be how to affect the value of the enterprise,specifically that is,the enterprise is also a financial flexibility,financial flexibility Whether the difference will affect the financial flexibility of the enterprise and affect the value of the enterprise.Finally,the article also puts forward the countermeasures to enhance the enterprise's value.At the same time,the paper puts forward the countermeasures to enhance the enterprise's value.And recommendations:companies should keep the financial flexibility in the appropriate level,should not be too high should not be too low.In addition,we can also improve the enterprise credit evaluation mechanism,through the diversified business development ideas,etc.,so that enterprises to further access to financial flexibility.