The Design Of "Cash Pooling" Managemet To JZ Group

Since China's reform and opening up,our country has appeared more and more cross-regional enterprises even multi-national business depends on economic globalization and regional economic integration.Because many characteristics exist in group like many members of the enterprise,distributed widely and industry span,many problems have emerged especially in the field of the financial management.By reason of proliferation of funds and lag of cash flow,the enterprise groups in our country exist the low capital usage efficiency and the difficulty risk management wildly.Based on our current background,the enterprise groups in our country commonly adopted the centralized management of capital and the group headquarters control the capital of whole group which can improve the efficiency of capital and supervise the capital of the whole group.In the wake of the complex,ever-changing inside and outside environment,the centralized management of capital can only solve the proliferation of funds and the problem of bank deposits and loans.According to the low capital usage efficiency,more and more groups bring in the “Cash Pooling” management to enhance the management of capital and reduce the cost.JZ Group,as a set of natural plants,chemical synthetic drugs,antibiotics,chemical and biological agents,bio-engineering products,functional food development,production and operating high-level integrated pharmaceutical company,which diversified its business to the pharmaceutical manufacturing,health food and real estate.In order to enhance the management of funds,JZ group applicate the centralized management of capital to realize the centralized management of financial department and the group headquarters dispatch the directors which can realize the united distributing of capital.At the same time,those problems that account system of dispersion,the low capital usage efficiency and the low risk management ability still exist.Therefore,my thesis centers on transaction cost theory,the internal capital market theory and the Combination of theory which analyzes the problems that exists in the centralized management of capital in the JZ group,and put forward the necessity,goal and principle to bring in the “Cash Pooling” management to enhance the centralized management of capital.And project the business process of the “Cash Pooling”management of JZ group to put forward the suggestion and supporting measure.All of these have reference value and significance of practice for enhancing the centralizedmanagement of capital in the JZ group and financial management.There are four parts in this thesis,the first part is the introduction and mainly expounded on the research background and concluded the theory sense and practice sense,reviewed literatures at home and abroad about the centralized management of capital and the “Cash Pooling” management,and full described the ideas and methods of this thesis.The second part is the basic theory of centralized management of capital for enterprise group.It analyzed the connotation,advantage and the traditional model of centralized management of capital and the theoretical foundation of centralized management of capital which included transaction cost theory,internal capital market and combined with the theory.The third part is the analysis of the problems which exist in the centralized management of capital in the JZ group that based on the business development and organizational structure.The fourth part is the improvement of the centralized management of capital in the JZ group which plans to bring in “ Cash Pooling” management for JZ group.It analyzed from two aspects: the necessity and implementation strategy which designed the key business process and choose the appropriate commercial bank to improve and enhance the financial management business.At last,in order to come up with the supporting measure,the thesis wholly analyzed from the four aspects: The aspect of ideology,the aspect of technology,the aspect of institution,and the aspect of team.