Research On The Impact Of Implementing Financial Shared Service Model On Financial Performance Of Group Enterprises

In 2005,ZTE,Sichuan Changhong,Huawei and China Development Bank responded to the financial management model reform trend and were the first companies in China to implement financial sharing services.The financial sharing service center has chosen to implement the financial sharing service model because of its characteristics of reducing the company's management costs and accelerating operational efficiency.At a time when corporate financial activities are increasingly complex and growing in size,the efficiency of financial data processing and cost savings cannot be ignored.Along with the new financial sharing management model featuring cloud computing,it can reengineer business processes and improve the efficiency of financial business processing for group companies in the era of big data.Domestic and foreign scholars have carried out a lot of theoretical research on financial sharing services,and the construction of financial sharing service centers is the focus of current scholars.In the past,most scholars only analyzed the financial shared service model,implementation significance and methods through theoretical analysis and case studies.There are not many empirical analysis articles.This study analyzes and demonstrates the role of financial sharing services in group companies from the perspective of financial performance.This research mainly analyzes the subject through the combination of theoretical research and empirical analysis.Firstly,it introduces and reviews the definitions of financial sharing and financial performance related definitions at home and abroad,and combines relevant research methods and theoretical knowledge to analyze the impact mechanism of financial sharing services on the financial performance of group companies.Financial sharing services mainly improve operating results and operations.Efficiency is two aspects to increase the financial performance of the group's enterprises,and propose corresponding research hypotheses.Selected 33 domestic CSI listed companies that have implemented financial sharing services before 2015 as samples,using stata15.0 software for Tobin q value,earnings per share,operating cost ratio,net profit growth rate,working capital turnover rate,Descriptive statistics,correlation analysis and panel data regression for financial performance indicators such as current asset turnover rate,financial data indicators for the year before implementation,the year of implementation,the first year after implementation,the second year after implementation,and the third year after implementation Empirical analysis analyzes the impact of financial sharing services on the financial performance of group companies.The construction of financial sharing services is not a short-term process,and it is constantly revised and improved.Therefore,it has been found that there is a transition period of at least three years to show the implementation benefits.The financial performance duringthe transition period has gradually increased,reaching a significant level in the third year after implementation.Finally,the following suggestions are made for companies that have implemented or plan to implement financial sharing services.First,optimize the capital structure of the group;second,optimize the shareholding structure;third,improve internal control and strengthen risk management;fourth,actively play the guiding role of relevant government departments.