SDL公司转型期的财务战略研究

发布时间：2018-05-27 17:21

本文选题：SDL公司 + 转型期财务战略　；参考：《青岛科技大学》2017年硕士论文

【摘要】：目前我国正处于产业转型的关键阶段,许多传统企业纷纷寻找新的发展机会,为了更好的适应企业的发展,需要对财务战略进行及时地调整和完善。本文选取了处于转型期的肥料生产商SDL公司作为研究对象,面对肥料市场日趋激烈的竞争和严重的产能过剩,SDL企业正试图由传统的肥料制造商向农业服务商转变,本文从企业所处的内外部环境为出发点,针对企业目前的投资、筹资及收益分配战略进行了分析与探讨,并根据发现的一些问题提出了调整建议及相应的保障措施。首先通过对投资的分析,本文发现SDL公司对新投资项目投资步伐过快,新项目盈利能力较差,目前企业的营业收入仍以肥料制造为主;筹资方面,企业筹资方式较单一,新战略的实施需要大量资金而且公司的业务特点决定了其长期资产较多,但SDL公司并没有充分利用长期借款,而且短期筹资中对预收账款的依赖较大;收益分配策略上,由于企业处于特殊的发展时期,对资金的需求量比较大,但是SDL公司以现金收益分配方式为主,且股利支付率逐年增高。针对SDL公司财务战略的不足,提出如下建议:第一,放缓对农业公司的投资步伐,投资时需要完善项目调研与评估机制,加大研发投入、提高主业竞争力;第二,重视对长期筹资的利用,充分利用国家政策优势争取更多政府补助,重视利用多种间接筹资方式;第三,通过发放股票股利代替现金股利。最后,为确保财务战略的顺利调整,本文提出了相应的保障措施,包括增强员工的财务战略意识,完善财务战略考核标准,强化财务战略与其他战略的融合等。本文对SDL公司转型期的财务战略进行研究,希望能够帮助处于转型期的企业正确分析其所处的内外部环境,并在此基础上制定符合企业总体发展战略的财务战略,从而促进企业实现长远发展。
[Abstract]:At present, our country is in the key stage of industrial transformation, many traditional enterprises have to look for new development opportunities, in order to better adapt to the development of enterprises, it is necessary to adjust and improve the financial strategy in time. In this paper, SDL Company, a fertilizer producer in transition period, is selected as the research object. In the face of increasingly fierce competition in fertilizer market and serious overcapacity, SDL enterprises are trying to change from traditional fertilizer manufacturers to agricultural service providers. Starting from the internal and external environment of the enterprise, this paper analyzes and discusses the present investment, financing and income distribution strategies of the enterprise, and puts forward some adjustment suggestions and corresponding safeguard measures according to the problems found. First of all, through the analysis of the investment, this paper finds that the SDL company invest in the new investment project too fast, the profitability of the new project is poor, the operating income of the enterprise is still mainly made of fertilizer, and the financing method of the enterprise is relatively simple. The implementation of the new strategy requires a large amount of funds and the company's business characteristics determine its long-term assets, but SDL does not make full use of long-term loans, and in short-term financing, it relies heavily on the accounts received in advance. Because the enterprise is in a special period of development, the demand for capital is relatively large, but the SDL company mainly distributes cash income, and the dividend payment rate increases year by year. In view of the deficiency of SDL's financial strategy, the following suggestions are put forward: first, to slow down the investment in agricultural companies, to improve the research and evaluation mechanism of projects, to increase R & D investment, and to improve the competitiveness of the main industry. Pay attention to the use of long-term financing, make full use of the advantages of national policies for more government subsidies, pay attention to the use of a variety of indirect financing; third, by issuing stock dividends instead of cash dividends. Finally, in order to ensure the smooth adjustment of the financial strategy, this paper puts forward the corresponding safeguard measures, including strengthening the staff's financial strategy consciousness, perfecting the financial strategy assessment standard, strengthening the integration of the financial strategy and other strategies, etc. This paper studies the financial strategy of SDL Company in the transition period, hoping to help the enterprises in the transition period to correctly analyze their internal and external environment, and on this basis, to formulate the financial strategy in line with the overall development strategy of the enterprise. In order to promote the long-term development of enterprises.
【学位授予单位】：青岛科技大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.72;F406.7

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