Research On The Financing Strategy Of Pharmaceutical Retail Chain Enterprise Y From The Perspective Of Life Cycle

With the rapid growth of the domestic economy,the competition in the pharmaceutical retail industry is becoming increasingly fierce.In order to occupy a place in the market,more and more enterprises begin to pay attention to financial management,and the most important link is the issue of fund raising.The production and operation,capital operation and long-term development of enterprises are always inseparable from financing.Financing has become an extremely important basic activity of corporate financial management,so it is necessary to look at corporate financing activities from a strategic perspective.At the same time,the development of enterprises is cyclical,and the choice of financing strategy needs to match the stage of the life cycle of the enterprise.The case study object selected in this paper is Company Y.Company Y is a large-scale retail chain enterprise mainly engaged in pharmaceutical business.This paper studies the financing strategy selection of drug retail chain Y enterprise from the perspective of enterprise life cycle,and puts forward corresponding countermeasures and suggestions.The text structure of this article is as follows: First,by systematically integrating and summarizing relevant literature at home and abroad.Secondly,through theoretical analysis,deeply explore the financial status of different stages in the life cycle of enterprises,and the corresponding financing strategy selection,as the research basis of this paper.Thirdly,based on the theory of enterprise life cycle and financing strategy theory,the growth process of Company Y is divided by cash flow combination method and comprehensive financial index analysis method,and it is concluded that Company Y has been in the growth stage since 2009.Analyze the internal and external environment of Company Y,discuss the appropriateness of financing methods,the rationality of financing structure,the controllability of financing risks and the comparison with peers during the growth period of Company Y,and conclude that the financing strategy of Company Y is successful.It has achieved a relatively good implementation effect and actively promoted the development of Y company.According to the research of this paper,it is found that: First,the choice of financing method of Y company is in line with the theory of life cycle,which is more appropriate.Second,in terms of financing structure,Company Y adopts a financing structure arrangement that focuses on external financing and supplements internal financing;the financing sequence is in line with the theory,but the external financing structure is not reasonable enough,its financing structure is too concentrated,and adjustment flexibility Small,weak ability to deal with risks.Third,in terms of financing risk,Company Y’s overall financing risk is within the controllable range,but there are short-term debt repayment risks in individual years.This article puts forward relevant suggestions for Y company’s current financing strategy: reasonable control of the proportion of various financing methods;taking into account the reasonable allocation of long-term and short-term funds,optimizing the direct and indirect financing structure;strengthening the supervision of debt repayment indicators.And summarizes the experience of Y company’s financing strategy as follows: adopt a financing strategy that matches the life cycle;maintain good corporate credit;introduce strategic investors in a timely manner;major shareholders play a good role in corporate governance.