联想控股价值创造型财务管理案例研究

发布时间：2017-12-27 15:19

本文关键词：联想控股价值创造型财务管理案例研究　出处：《哈尔滨商业大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着时代的发展,竞争日益激烈的市场和财务管理理论的发展对企业财务管理模式提出了帮助企业持续经营的新要求,财务管理管理目标也从股东价值最大化转变为企业价值最大化,这里的价值指的是顾客对企业提供的服务或商品的估值,即顾客所能接受的商品价格就是这个商品的内在价值,企业为了达到企业价值最大化,可以通过创新服务满足顾客需求以提升顾客对商品的价值认知,或者可以通过降低成本来提升价值空间最终实现企业价值最大化的目标。因此,在开展财务管理工作时需要以顾客价值为导向,关注价值创造和为了创造价值所投入的资本成本之间的关系,只有当企业创造的价值完全弥补了资本成本、机会成本和风险折扣时,企业才真正创造了价值。我国财务管理理论界对价值创造和财务管理之间的关系进行深入研究,明确财务管理创造价值的具体路径,为价值创造型财务管理研究指明了方向。但理论界对价值创造型财务管理的实务研究较少,需要继续研究填补这方面的欠缺。以联想控股股份有限公司(以下简称联想控股)的财务管理模式为研究背景,分析其特色的价值创造型财务管理模式。联想控股通过财务预算活动、经营活动、投资活动、筹资活动和风险控制活动创造价值,引入衡量企业价值的绩效评价体系和与绩效相匹配的激励体系,其对联想价值创造型财务管理的结果进行评价并推进企业持续进行价值创造活动。本文分析了联想价值创造型财务管理的目标,总结了联想控股通过在企业内部明确价值创造的概念,将财务活动融入业务活动中为企业创造价值的成功经验,并由此提出在企业中推行价值创造型财务管理的建议,希望由此为我国企业构建以价值创造为目标的财务管理模式提供参考。
[Abstract]:With the development of the times, the development of increasingly fierce competition in the market and financial management theory put forward new requirements to help enterprises sustainable management of enterprise financial management, financial management goal has changed from maximizing shareholder value maximization of enterprise value, value here refers to the customer for the enterprises to provide goods or services valuation the intrinsic value, namely the customer can accept the price for this commodity is, enterprises in order to achieve the maximization of enterprise value, can meet the needs of customers through innovative services to enhance customer perceived value to the goods, or by reducing the cost to enhance the value of space and ultimately achieve the goal of maximizing corporate value. Therefore, in carrying out financial management to customer value oriented, pay attention to the relationship between value creation and value creation in order to put the cost of capital, only when the enterprise value is completely make up the capital cost, opportunity cost and risk discount, enterprises can truly create value. The theory of financial management in China has made an in-depth study of the relationship between value creation and financial management, and made clear the specific path of value creation in financial management, and pointed out the direction for the research of value creation financial management. However, there are few practical studies on the practice of value creative financial management in the theoretical circle, and we need to continue to study the deficiency in this field. Based on the financial management mode of Lenovo Cmi Holdings Ltd (hereinafter referred to as Lenovo Holdings), this paper analyzes its characteristic value creation financial management mode. Lenovo holdings by financial budget activities, business activities, investment activities, financing activities and risk control activities to create value, the introduction of the performance evaluation system to measure the enterprise value and match the performance of the incentive system, the Lenovo value creation financial management results evaluation and promote enterprise's sustainable value creation activities. This paper analyzes the Lenovo value creation financial management objectives, summed up the Lenovo holdings through the concept of creating clear value in the enterprise, the financial activities into successful experience to create value for the enterprise business activities, and thus puts forward the value of creative enterprises in the implementation of financial management recommendations, in the hope for Chinese enterprises to build the value creation mode of financial management as the goal to provide reference.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.671

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