Capital Management Of Evergrande Real Estate Company From The Perspective Of Value Chain Theory

In recent years,the real estate industry has developed stably and has become an important industry supporting a country’s national economy.However,this industry is a capital intensive industry.For an enterprise,sufficient working capital is the basic guarantee for its own survival and development.Therefore,the management of capital chain can not be ignored by each enterprise.A large number of studies show that in the past,the capital chain management of enterprises mostly focused on the research on the best holding capital and turnover speed of a project,which was seriously divorced from the integrity of the business itself.Such a management model can not adapt to the needs of today’s rapidly developing enterprises.Based on this background,the value chain theory can combine the enterprise’s business process with its own capital chain management to play a synergistic effect.It is a remedy for the traditional management and improves the competitiveness of the enterprise in the industry.This paper selects Evergrande real estate company as the case object,relying on the value chain theory,analyzes the current situation of the enterprise’s fund management,explains its problems and causes in fund management,and puts forward improvement countermeasures.Firstly,the background and significance of this research are analyzed from the perspective of value chain theory,and some theories of fund management are traced back..Secondly,using the research method of comparative analysis,through the analysis of the enterprise’s financial data from 2016 to 2020,this paper analyzes the current situation of the enterprise’s fund management,and finds the following problems:high debt risk,lack of planning for the use of funds,slow return of funds and so on.Further analysis shows that the internal causes are narrow financing channels,imperfect cost control system,low capital budget and control quality.Finally,according to the existing problems and the specific operation of Evergrande real estate company,the countermeasures are put forward from the aspects of broadening financing channels,standardizing cost management and capital budget,accelerating the application of information technology and building risk index system.On the one hand,this research will help enterprises improve working capital management,strongly support enterprises to better participate in market competition and maximize corporate value.On the other hand,we also hope that it can provide reference and support to other companies in the industry.