中国石油天然气集团公司资金集中管理的问题与对策研究
|
摘要
随着我国市场经济体制的建立和经济体制改革的不断深化,许多大型企业集团不断涌现并日益成为社会经济活动的重要主体,其资金分配和资金管理逐渐成为研究的焦点,加强资金集中管理已成为大多数企业集团的共识。为此,许多企业集团将实施资金集中管理作为解决有关管理难题的一个重要手段,期望通过资金集中管理实现对企业集团资金的有效管理和控制,从而充分利用和发挥企业集团的资源优势,达到优化资金收支结构、降低资金成本、防范经营风险、增强企业盈利能力的目的。
本文基于回顾资金集中管理的基础理论以及资金集中管理模式的前提下,对中石油资金集中管理模式中的不同组织形式进行了比较剖析,紧接着本文用分析研究的方法对中国石油集团资金管理所面临的挑战及存在的问题进行了一个全面的探讨。在这个基础上,本文继续对中国石油集团资金集中管理体系进行重点剖析,集中分析了中国石油集团的资金集中管理模式中的架构问题,即:以结算中心和财务公司为核心组织形式,以账户管理制度、资金计划制度、封闭结算制度、资金头寸管理制度为制度保障,以信息平台为实现手段。通过财务集中管理,对银行存款、票据、债务进行集中运行和管理,并通过内部货款封闭运行、强化外部货款回收、推行透支管理、上门收款和加油卡等方式实现资金的安全高效运行,实现资金计划、流程和资源等协同运作,最终应对资金管理面临的挑战以及解决资金管理存在的问题。此外,本文分析了资金集中管理所产生的经济效益和制度创新价值。
最后提出中国石油资金集中管理的未来实践展望,即实行资金集中管理,以财务公司为平台逐步实现全球结算集中,构建统一资金池,建立统一融合的管理信息系统,利用有效可行的金融工具统一管理全集团的金融风险,根据发展战略向金融企业优化配置金融资本。
Along with the foundation of China’s market economy system and its continuing reformation, there has been the bloom of large enterprise group that tends to become the principal part of socio-economic activity day by day. As the funds management of large enterprise group has become a research focus, strengthening funds centralization management becomes their consensus. Therefore, many enterprise groups implement funds centralization to resolve relevant funds management problems, expecting realize effective control of the funds in whole group so that the group can optimize resources allocation, reduce cost, prevent operation risk and enhance profitability.
Based on the centralized fund management theory and the centralized fund management mode, under the premise of oil in the centralized fund management organization form, then compared with the methods of analysis and research of China national petroleum corporation fund management challenges and problems of a comprehensive discussion. On this basis, the paper continues to Chinese petroleum corporation centralized fund management system, analyzes on the analysis on the Chinese petroleum corporation in the centralized fund management framework to settle problems, namely: the core of financial center and organizational form, account management system, capital planning system, closed settlement system, capital management system for the institutional guarantee for the position, information platform for realizing method. Through the financial management of bank deposit, bills, debt centrally operation and management, and through the internal operation, strengthen external payment closed payment collection, collection and management, door-to-door overdraft on card, etc. To realize safe and efficient operation of funds, funds plan, processes and resources, finally take the cooperation funds management challenges and solve problems existing in the management of funds. In addition, this paper analyzes the centralized fund management produce economic benefits and system innovation value.
Finally the centralized fund management of China petroleum, namely the practice of implementing the centralized fund management, financial companies as a platform to achieve global settlement, gradually building unified pool, establish unification fuses the management information system, using effective financial tools and unified management of financial risk, according to the subsidiaries of financial enterprise development strategy to optimized configuration of financial capital.
本文基于回顾资金集中管理的基础理论以及资金集中管理模式的前提下,对中石油资金集中管理模式中的不同组织形式进行了比较剖析,紧接着本文用分析研究的方法对中国石油集团资金管理所面临的挑战及存在的问题进行了一个全面的探讨。在这个基础上,本文继续对中国石油集团资金集中管理体系进行重点剖析,集中分析了中国石油集团的资金集中管理模式中的架构问题,即:以结算中心和财务公司为核心组织形式,以账户管理制度、资金计划制度、封闭结算制度、资金头寸管理制度为制度保障,以信息平台为实现手段。通过财务集中管理,对银行存款、票据、债务进行集中运行和管理,并通过内部货款封闭运行、强化外部货款回收、推行透支管理、上门收款和加油卡等方式实现资金的安全高效运行,实现资金计划、流程和资源等协同运作,最终应对资金管理面临的挑战以及解决资金管理存在的问题。此外,本文分析了资金集中管理所产生的经济效益和制度创新价值。
最后提出中国石油资金集中管理的未来实践展望,即实行资金集中管理,以财务公司为平台逐步实现全球结算集中,构建统一资金池,建立统一融合的管理信息系统,利用有效可行的金融工具统一管理全集团的金融风险,根据发展战略向金融企业优化配置金融资本。
Along with the foundation of China’s market economy system and its continuing reformation, there has been the bloom of large enterprise group that tends to become the principal part of socio-economic activity day by day. As the funds management of large enterprise group has become a research focus, strengthening funds centralization management becomes their consensus. Therefore, many enterprise groups implement funds centralization to resolve relevant funds management problems, expecting realize effective control of the funds in whole group so that the group can optimize resources allocation, reduce cost, prevent operation risk and enhance profitability.
Based on the centralized fund management theory and the centralized fund management mode, under the premise of oil in the centralized fund management organization form, then compared with the methods of analysis and research of China national petroleum corporation fund management challenges and problems of a comprehensive discussion. On this basis, the paper continues to Chinese petroleum corporation centralized fund management system, analyzes on the analysis on the Chinese petroleum corporation in the centralized fund management framework to settle problems, namely: the core of financial center and organizational form, account management system, capital planning system, closed settlement system, capital management system for the institutional guarantee for the position, information platform for realizing method. Through the financial management of bank deposit, bills, debt centrally operation and management, and through the internal operation, strengthen external payment closed payment collection, collection and management, door-to-door overdraft on card, etc. To realize safe and efficient operation of funds, funds plan, processes and resources, finally take the cooperation funds management challenges and solve problems existing in the management of funds. In addition, this paper analyzes the centralized fund management produce economic benefits and system innovation value.
Finally the centralized fund management of China petroleum, namely the practice of implementing the centralized fund management, financial companies as a platform to achieve global settlement, gradually building unified pool, establish unification fuses the management information system, using effective financial tools and unified management of financial risk, according to the subsidiaries of financial enterprise development strategy to optimized configuration of financial capital.
引文
1资料来源:国务院国有资产监督管理委员会、中国财务公司协会网站http://www.sasac.gov.cn/n1180/index.html: http://www.cnafc.org/index/index.asp
2英国皇家银行学会(CIB).现金流量管理.刘霄伦等.中信出版社. 2002: 1~10
3吴丛生.国际财务管理:理论与中国实务.北京大学出版社. 2006; 1~3
4 Tony de Caux. Understanding International Corporate Treasury. BRC Press, 2009: 65~78
5郭震峰.现代企业集团资金集中管理手段.财经界. 2010, (1: 215~216
6张瑞君等.从价值链管理的视角构建财务业务一体化核算模式.会计研究. 2004, (12): 45~48
7杜胜利,王宏淼.财务公司.北京大学出版社. 2001: 74~95
8袁琳.资金集中结算:制度完善与风险控制.会计研究. 2005, (90): 57~62
9孙静芹.集团公司资金集中管理研究.中国经济出版社. 2004: 25~43
10王之君等.集团资金管理模式研究.中央财经大学学报. 2006, (11): ~92
11王玲.集团公司资金集中管理模式探析.会月刊. 2004, (12B): 21~22
12陈月明.企业集团财务问题研究.东北财经大学出版社. 2007: 65~73
13汤谷良,曹再华. GE公司“现金池”落地中国的案例思考.财务与会计. 2006, (3): 9~12
14资料来源:价值中国网http : //www.chinavalue. net/Article/ Archive/ 2005/12/14/16271.html
15于革委.基于内部资本市场理论的我国企业集团资金集中管理.绿色财会,2007, (7): 18~21
16王国樑.国石油天然气股份有限公司资金管理案例精选.中国财政经济出版社. 2007
17科斯(Coase , Ronald).“The Nature of the Firm”, 1937, In the Firm, the Market, and the Law, the University of Chicago Press. Chicago. 1988: 33 ~55
18高寒松.国有企业进行资产重组是培养我国跨国企业的捷径.管理世界. 1999, (6): 27~28
19王万宾.内部市场化与市场内部化——大型国有企业组织制度创新模式的比较与选择.新华文摘. 1998, (11): 56
20杨雄胜,陈丽花.集团公司财务管理.人民出版社. 2007: 13~34
21徐联初,肖晓光.信息不对称条件下的银企关系问题与产权因素.金融研究. 2001, (8): 48~56
22 G. B. Richardson.“The Organization of Industry”. Economic Journal. 1972, (82): 883~896
23 Alchian, A.“Corporate Management and Property Rights”. Economic Policy and the Regulation of Corporate Securities, Washington D.C. American Enterprise Institute. 1969
24 Oliver E. Williamson.“The Limits of Organization”. Journal of Business. 1975, (48): 452~453
25 Oliver E. Williamson. Markets and Hierarchies: Analysis and Antitrust Implications. Free press, New York. 1975: 369~403
26 RH Gertner, DS Scharfstein and JC Stein. Internal Versus External Capital Markets. Quarterly Journal of Economics. 1994, (109): 1211~1230
27张维迎.所有制、治理结构及委托-代理关系——兼评崔之元和周其仁的一些观点.经济研究. 1996, (9): 3~15
28张丹,刘杰.财务公司在产融结合中的作用.辽宁经济. 2005, (1): 53~53
29赵文广.企业集团产融结合——理论与实践.经济管理出版社. 2004: 62~80
30谢杭生.产融结合研究.中国金融出版社. 2000: 35~39
31傅艳.产融结合简析.中南政法大学学报. 2004, (1): 69~71
32崔建华,龚瑜.我国企业集团内部资本市场.企业导报. 2010, (1): 83~84
33 Myers, S.C. & Mjluf, N.S. Corporate Financing and Investment Decisions When firms Hazve information That Investors do Not Have . Journal of Financial Economics. 1984, (13): 184~221
34何召滨.浅谈企业集团资金集中管理的实现形式.财务与会计. 2010, (1): 53~54
35郑鸣等.台湾金融控股公司内部资本市场效率实证研究.台湾研究-经济. 2007, (2): 38~43
36 Jeffery Struzenski. Centralize Treasury Management to Reduce Risk, Increase Control. Financial Executive. 2006, (3): 34~46
37毛仲玖.企业集团资金集中管理初探.中国财政经济出版社. 2005
38常莉.关于企业集团资金管理模式的探讨.黑龙江对外经贸. 2007, (12): 113~115
39王炳志.企业集团资金集中管理模式及实施策略.商业时代. 2008, (7): 47~48
40夏静波.集团公司资金集中管理模式的比较与选择.北方经济:综合版. 2010, (1): 89~90
41刘生发.资金集中管理模式探讨.现代会计. 2009, (5): 33~35
42张强.现金管理经典案例评鉴.中信出版社. 2010, (1): 199~215 74~95
43严兵德.浅析集团公司资金的集中管理.中国集体经济. 2010, (6): 156~157
44金志刚.中国财务公司在产融结合中的功能.武汉工程职业技术学院学报. 2008, (3): 69~72
45王浩明,张翼.集团企业资金管理.清华大学出版社. 2006, (12): 22~29
46胡豹,黄祖辉.银企金融交易:信息不对称及其对策.中国软科学. 2003, (2): 54~57
47向志鹏,饶雪花,常菊.集团企业资金集中管理的利弊分析.科技经济市场. 2009, (8): 64~65
48 Walton, K. Treasury Systems: Meeting the Business Requirements of a Centralised Treasury. Treasury Management International. 1995, (4): 36~43
49 Jay Kane, Automating Treasury Management to Maximize Liquidity. Financial Executive. 2006, (10): 23~29
50邵军,刘志远.企业集团内部资本市场最优规模设计.现代财经. 2006,(4): 32~36
51 Gray, R, Barrett K. Cash Management. InterACT, 1995, (10): 13~18
2英国皇家银行学会(CIB).现金流量管理.刘霄伦等.中信出版社. 2002: 1~10
3吴丛生.国际财务管理:理论与中国实务.北京大学出版社. 2006; 1~3
4 Tony de Caux. Understanding International Corporate Treasury. BRC Press, 2009: 65~78
5郭震峰.现代企业集团资金集中管理手段.财经界. 2010, (1: 215~216
6张瑞君等.从价值链管理的视角构建财务业务一体化核算模式.会计研究. 2004, (12): 45~48
7杜胜利,王宏淼.财务公司.北京大学出版社. 2001: 74~95
8袁琳.资金集中结算:制度完善与风险控制.会计研究. 2005, (90): 57~62
9孙静芹.集团公司资金集中管理研究.中国经济出版社. 2004: 25~43
10王之君等.集团资金管理模式研究.中央财经大学学报. 2006, (11): ~92
11王玲.集团公司资金集中管理模式探析.会月刊. 2004, (12B): 21~22
12陈月明.企业集团财务问题研究.东北财经大学出版社. 2007: 65~73
13汤谷良,曹再华. GE公司“现金池”落地中国的案例思考.财务与会计. 2006, (3): 9~12
14资料来源:价值中国网http : //www.chinavalue. net/Article/ Archive/ 2005/12/14/16271.html
15于革委.基于内部资本市场理论的我国企业集团资金集中管理.绿色财会,2007, (7): 18~21
16王国樑.国石油天然气股份有限公司资金管理案例精选.中国财政经济出版社. 2007
17科斯(Coase , Ronald).“The Nature of the Firm”, 1937, In the Firm, the Market, and the Law, the University of Chicago Press. Chicago. 1988: 33 ~55
18高寒松.国有企业进行资产重组是培养我国跨国企业的捷径.管理世界. 1999, (6): 27~28
19王万宾.内部市场化与市场内部化——大型国有企业组织制度创新模式的比较与选择.新华文摘. 1998, (11): 56
20杨雄胜,陈丽花.集团公司财务管理.人民出版社. 2007: 13~34
21徐联初,肖晓光.信息不对称条件下的银企关系问题与产权因素.金融研究. 2001, (8): 48~56
22 G. B. Richardson.“The Organization of Industry”. Economic Journal. 1972, (82): 883~896
23 Alchian, A.“Corporate Management and Property Rights”. Economic Policy and the Regulation of Corporate Securities, Washington D.C. American Enterprise Institute. 1969
24 Oliver E. Williamson.“The Limits of Organization”. Journal of Business. 1975, (48): 452~453
25 Oliver E. Williamson. Markets and Hierarchies: Analysis and Antitrust Implications. Free press, New York. 1975: 369~403
26 RH Gertner, DS Scharfstein and JC Stein. Internal Versus External Capital Markets. Quarterly Journal of Economics. 1994, (109): 1211~1230
27张维迎.所有制、治理结构及委托-代理关系——兼评崔之元和周其仁的一些观点.经济研究. 1996, (9): 3~15
28张丹,刘杰.财务公司在产融结合中的作用.辽宁经济. 2005, (1): 53~53
29赵文广.企业集团产融结合——理论与实践.经济管理出版社. 2004: 62~80
30谢杭生.产融结合研究.中国金融出版社. 2000: 35~39
31傅艳.产融结合简析.中南政法大学学报. 2004, (1): 69~71
32崔建华,龚瑜.我国企业集团内部资本市场.企业导报. 2010, (1): 83~84
33 Myers, S.C. & Mjluf, N.S. Corporate Financing and Investment Decisions When firms Hazve information That Investors do Not Have . Journal of Financial Economics. 1984, (13): 184~221
34何召滨.浅谈企业集团资金集中管理的实现形式.财务与会计. 2010, (1): 53~54
35郑鸣等.台湾金融控股公司内部资本市场效率实证研究.台湾研究-经济. 2007, (2): 38~43
36 Jeffery Struzenski. Centralize Treasury Management to Reduce Risk, Increase Control. Financial Executive. 2006, (3): 34~46
37毛仲玖.企业集团资金集中管理初探.中国财政经济出版社. 2005
38常莉.关于企业集团资金管理模式的探讨.黑龙江对外经贸. 2007, (12): 113~115
39王炳志.企业集团资金集中管理模式及实施策略.商业时代. 2008, (7): 47~48
40夏静波.集团公司资金集中管理模式的比较与选择.北方经济:综合版. 2010, (1): 89~90
41刘生发.资金集中管理模式探讨.现代会计. 2009, (5): 33~35
42张强.现金管理经典案例评鉴.中信出版社. 2010, (1): 199~215 74~95
43严兵德.浅析集团公司资金的集中管理.中国集体经济. 2010, (6): 156~157
44金志刚.中国财务公司在产融结合中的功能.武汉工程职业技术学院学报. 2008, (3): 69~72
45王浩明,张翼.集团企业资金管理.清华大学出版社. 2006, (12): 22~29
46胡豹,黄祖辉.银企金融交易:信息不对称及其对策.中国软科学. 2003, (2): 54~57
47向志鹏,饶雪花,常菊.集团企业资金集中管理的利弊分析.科技经济市场. 2009, (8): 64~65
48 Walton, K. Treasury Systems: Meeting the Business Requirements of a Centralised Treasury. Treasury Management International. 1995, (4): 36~43
49 Jay Kane, Automating Treasury Management to Maximize Liquidity. Financial Executive. 2006, (10): 23~29
50邵军,刘志远.企业集团内部资本市场最优规模设计.现代财经. 2006,(4): 32~36
51 Gray, R, Barrett K. Cash Management. InterACT, 1995, (10): 13~18