H银行基于财务柔性的企业价值管理研究

发布时间：2018-01-04 04:14

本文关键词：H银行基于财务柔性的企业价值管理研究　出处：《哈尔滨工业大学》2015年硕士论文　论文类型：学位论文

【摘要】：商业银行在引入了股份制改造之后,对其经营管理必定需要提出更高的需求,要形成以创造价值、实现价值最大化为核心理念的管理模式。然而面对不确定的市场环境,商业银行的企业价值管理需要更加灵活,来应对瞬息万变的市场变化。此时,财务柔性理论便应运而生,并已在国外银行和国内一般企业中得到了应用。与企业价值管理活动相对应,财务柔性分为筹资活动柔性、投资活动柔性、经营活动柔性和分配活动柔性。本文正是在借鉴国内外学者研究的基础上,运用财务柔性的理论对H银行的企业价值管理方法进行优化设计,从而有效地提升H银行的企业价值。首先,本文阐述了所选择的案例企业H银行的概况,分析了其企业价值管理活动现状和企业价值管理效果现状,进而从财务柔性的视角提出了H银行筹资活动财务柔性储备不足、经营活动财务柔性获取不足和投资活动财务柔性释放过度的问题,并从宏观和微观两方面对存在问题进行原因分析。其次,本着系统性、有效性和针对性的设计原则对H银行的组织机构和财务制度作了调整与修改,进而从筹资活动、经营活动和投资活动三方面对基于财务柔性的企业价值管理进行设计。在每一类设计的过程中,均解决了以下三个子问题:一是财务柔性对该项财务活动有哪些影响,二是财务柔性水平的衡量和评价,三是如何结合H银行的实际情况对企业价值管理进行优化。然而,仅仅是任何单一方面财务柔性的提高都不能提升整体的企业价值,只有考虑筹资柔性、经营柔性、投资柔性内在的逻辑性和关联性,找到内在的平衡点,才能综合运用财务柔性有效地提升H银行的整体价值。最后,为使得所设计的优化方法得到最佳效果,提出了一系列保障措施。通过转变传统价值管理理念、提高财务人员的管理水平和修正与优化财务柔性评价体系使得基于财务柔性的企业价值管理更加客观。
[Abstract]:After introducing the reform of joint-stock system, commercial banks must put forward higher demand for their management and form to create value. However, in the face of uncertain market environment, the value management of commercial banks needs to be more flexible to cope with the changing market. The theory of financial flexibility came into being, and has been applied in foreign banks and domestic enterprises. Corresponding to enterprise value management activities, financial flexibility is divided into financing activity flexibility, investment activity flexibility. Based on the research of domestic and foreign scholars, this paper uses the theory of financial flexibility to optimize the enterprise value management method of H bank. In order to effectively enhance the enterprise value of H bank. First, this paper describes the selected case of H bank, analyzes the current situation of enterprise value management activities and enterprise value management effect. From the perspective of financial flexibility, this paper puts forward the problems of insufficient financial flexible reserve for financing activities of H bank, insufficient acquisition of financial flexibility for operating activities and excessive release of financial flexibility for investment activities. And from the macro and micro aspects of the reasons for the problems. Secondly, in line with the systematic, effective and targeted design principles of H Bank's organizational structure and financial system have been adjusted and modified. Then it designs the enterprise value management based on financial flexibility from three aspects of financing activities, business activities and investment activities. It has solved the following three sub-problems: first, what impact financial flexibility has on this financial activity, and second, how to measure and evaluate the level of financial flexibility. The third is how to optimize the enterprise value management according to the actual situation of H bank. However, the improvement of financial flexibility in any single aspect can not enhance the overall enterprise value, only consider the financing flexibility. Management flexibility, investment flexibility inherent logic and relevance, find the internal balance point, in order to comprehensively use financial flexibility to effectively enhance the overall value of H bank. Finally. In order to get the best effect of the optimized method, a series of safeguard measures are put forward, and the traditional value management concept is changed. Improving the management level of financial personnel and modifying and optimizing the evaluation system of financial flexibility make enterprise value management based on financial flexibility more objective.
【学位授予单位】：哈尔滨工业大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F830.42;F832.33

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