Research On Centralized Capital Control Of Enterprise Groups From The Strategic Perspective

Centralized management and control of group capital is an important means for the group to uniformly allocate capital resources and control capital risks,and is the main mode of group capital management and control at present.Effective centralized management and control of capital can control the group's business behavior better,activate the group's stock capital,speed up capital flow,and expand the group's settlement scale and enhance its financial reputation.But at the same time,if the centralized management of group capital is out of control,it will enlarge the risk and make the whole group face the risk challenge.Therefore,in the process of strategic upgrading and development of enterprise groups,how to prevent the risks brought by centralized capital management and control,and how to improve the support for the group strategy are important problems faced by enterprise groups.In order to accurately understand the current situation of enterprise group in the centralized management and control of capital,this paper puts forward effective measures that can be operated and used for reference,and studies the centralized risk in the centralized management and control of group capital by combining theory with cases.Firstly,based on the summary of domestic and foreign literature,this paper introduces the relevant theories of strategy and group capital centralized management and control,expounds that strategy will have an impact on the characteristics and mode selection of group capital centralized management and control,and proposes that the implementation of centralized management and control of group capital is the combination of income and risk.Secondly,taking the capital centralized management and control of DH group as an example,this paper analyzes the background and current methods of capital centralized management and control of the case group from a strategic perspective.Using the combination of AHP and efficiency coefficient method,this paper constructs the performance evaluation system of centralized capital management and control from three dimensions of capital liquidity,safety and efficiency,finds out that DH group has the dilemma of capital management and control,and summarizes that the failure of capital management and control is mainly due to the inadaptability of group capital management and control objectives and group strategy,the mismatch of investment decision-making mechanism and strategic planning Excessive dependence on short-term financing,lack of strategic orientation of capital budget,information system can not meet the strategic needs and other reasons.Finally,combined with the characteristics of information data,system intelligence and business globalization,the paper puts forward some optimization suggestions.