Study On The Efficiency Of Capital Pool Model Of S Company

With the deepening of economic globalization and the development of the market economy,a large number of group companies with multi-economic properties and diversification in management have emerged across regions and industries.However,some problems,like diversification of equity among group members,low utilization of funds,and financial risks Problems such as low levels of control have also ensued,and as a result,a growing number of groups have adopted centralized fund management to enhance coordination and control.The efficiency of centralized fund management and operation is of great importance in enhancing the value creation of the enterprise group as a whole and ensuring the achievement of the Group's strategic goals.S company,as a major equipment manufacturing enterprise that integrates R&D,production and sales,is characteristic of large scale of production and sales,a wide operating area,many internal organization members and a long industrial management chain.At the same time,affected by the characteristics of the industry,it possesses the qualities of large production inputs,long production cycle and high sensitivity to the changes in the overall operation of the relevant external economy and the same changes with the external environment.Therefore,if the impact of the external environment and random errors is not taken into consideration when analyzing and studying the efficiency of centralized management of S company funds,the results are unable to reflect the actual situation objectively and honestly.Therefore,the three-phase DEA that eliminates the influence of environmental factors and random errors is chosen to calculate and analyze the efficiency of capital management of S company.Taking S company as the research object on the basis of related theories and research status of centralized fund management,this article sums up the various modes of centralized fund management of enterprise group,and sorts out the background and operating status of S company's centralized fund management.It analyzes from the macro and micro levels by using the three-phase DEA model in combination with the characteristics of the industry,considering the impact of two environment factors,such as the overall economic performance and the company's history.At the macro level,according to the third-stage efficiency valuethat becomes more objective and realistic after eliminating environmental factors and random errors,this article ranks the S company before and after implementing the capital pool model;and at the micro level,the conclusions that centralized management of funds is conducive to improving the efficiency of capital management for S company,reducing capital costs,reducing idle funds,accelerating cash flow and achieve corporate value has been drawn by analyzing redundancy and insufficiency of input and output,which has got by using the three-phase DEA model after extracting the slack variable without environmental factors and random error impacts.Finally,based on the results of the three-phase DEA model,and affirming that the fund pool model has improved the efficiency of S company's fund management,it proposes to further improve the efficiency of centralized management of S company's funds.It is hoped that the study of this article will not only promote the strategic development of Company S,but also serve as a reference for the centralized management of funds of other enterprise groups in the same industry.