Research On ZX Enterprise Financial Flexibility

With the rapid development of communication technology,the communication industry has become one of the fastest growing industries in the world.The internal competition in the communication industry is fierce,the domestic market is changing rapidly,the enterprise's own financial risk and the operational risk brought by the market make the enterprise face a significant increase in uncertainty.Therefore,enterprises need to pay attention to the reserves of financial flexibility when making financial decisions,so as to help enterprises actively cope with the crisis and grasp investment opportunities to maintain and improve their position in the industry.Based on the financial data of ZX enterprise from 2004 to 2018,this paper studies the financial flexibility of ZX enterprise by means of combining theory with cases and mean regression model.The study found that ZX enterprise has target financial flexibility,but the financial flexibility reserve is lower than the average level of the industry for a long time,indicating that the enterprise is unable to dynamically adjust its financial flexibility.Through further research on the circular links of financial activities of enterprises,it is found that there are problems of single financing channels,low investment benefits and poor working capital management ability in financing,investment and operating activities of enterprises,but the flexible management of income distribution is more reasonable.The above research shows that ZX enterprise's understanding of financial flexibility is still in a state of passive acceptance,without active adjustment.The main reasons are that the property right nature of state-owned holding enterprises misjudgment of business strategy and unreasonable profit distribution structure lead to low demand for financial flexible reserve.Therefore,it is suggested that enterprises should pay more attention to financial flexibility,strengthen the flexible management of financial activities,and change management methods to improve the governance mechanism.