Corporate Group Funds Centralized Management Research

With the continuous improvement of the market economy in our country,more and more enterprises have existed in the form of groups and have become increasingly large.The role played in social and economic activities has become increasingly important.Abundant capital flow is the foundation of the company's business development.It runs through the entire process of business operations from beginning to end,providing a steady stream of momentum for the development and expansion of enterprise groups.It is also a solid guarantee for enterprises to achieve their ultimate strategic goals,and is also an enterprise group.The bond that connects subsidiaries at all levels.From the perspective of the development trend of enterprise groups in various countries,after the development of large-scale enterprise groups to a certain extent,their internal business management models are transformed from decentralized self-government to intensive management and control.Centralized management and control of funds is an important starting point and step-by-step approach to achieve an intensive management and management model.The enterprise group implements centralized management and control of funds at all levels of subsidiaries,striving to achieve balance of internal and external financial resources of the group,making full use of the surplus funds of wealthy companies within the group,and supplementing the cash flow of capital-poor enterprises through internal unified adjustments.Improving the efficiency of the use of funds and effectively lowering the Group's overall external financing costs,thereby reducing the Group's overall scale of interest-bearing liabilities and capital use risks,is of great significance to the long-term development of enterprise groups,and is also an important result of the centralized management and control of funds by enterprise groups.As a non-banking financial institution within an enterprise group,financial companies have both the attributes and licenses of financial institutions and are different from traditional financing institutions such as external commercial banks.They have unparalleled advantages in the centralized management and control of funds by enterprise groups.The unique role that can be played is unmatched.First,as a non-banking financial institution supervised by the China Banking Regulatory Commission,financial companies have the advantages of congenital financial institution licenses,and can provide depository,lending,settlement,financial leasing,securities investment,bond issuance and underwriting,insurance,etc.Financial services overcome various drawbacks of the original settlement center or fund center model.Second,the financial company,as an internal subsidiary of the enterprise group,serves the internal member units of the enterprise group,obeys the goal of unified management and overall interest maximization of the enterprise group,and can strictly implement all strategic plans formulated by the headquarters of the enterprise group.It is conducive to the goal of centralized management and control of corporate groups' funds.This article first summarizes the theories and research results of domestic and foreign enterprise groups in terms of capital concentration management and control.Starting from the theory of internal capital markets and the theory of integration of production and finance,the pros and cons of different modes of centralized fund management and control work are analyzed and the financial company is a large enterprise in China.The Group's funds centrally control the inevitability of an ideal platform,and then further introduced the basic models and measures for the centralized management and control of funds based on financial companies,and the development and supervision systems of financial companies.Secondly,in conjunction with my recent work experience in the centralized management and control of funds of enterprise groups,I introduced the development history and current status of G-Group's centralized management and control of funds,elaborated on the existing problems and explored the causes of the problems.Through the discussion of relying on financial companies to manage the centralized management mode of funds for the platform,it explores methods and measures for further deepening the management and control of funds in modern large-scale enterprise groups,and puts forward corresponding methods and recommendations.