我国企业集团财务公司管理模式创新及应用研究
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摘要
国外财务公司的发展已有200多年的历史,在社会经济生活中扮演着重要角色。大型跨国公司一般都有以财务公司为主体的附属金融机构为其提供特定金融服务,全球500强企业中已有2/3以上拥有自己的财务公司。在我国,财务公司作为经济体制改革和金融体制改革的双重产物,还是金融领域中的一支新生力量,财务公司的经营管理、发展模式、行业监管等各方面的理论与实践仍处于不断探索、研究的过程中。现代经济全球化、一体化的发展趋势促进企业集团多元化、巨型化,对金融服务的多样性要求和专业性要求日益提高；另一方面中国金融市场的国际一体化进程日益加快,金融市场全面开放,这使得财务公司面临来自国际、国内金融机构激烈的竞争,财务公司的发展面临着前所未有的挑战。在这一发展潮流中,财务公司的一些痼疾也越发明显,资金来源单一、业务范围狭窄、核心竞争力的缺乏等问题使财务公司的发展处于进退两难的尴尬境地。这样通过管理模式及业务创新实现持续发展变成财务公司的一种内在动力。
那么财务公司如何实现准确定位,在服务集团发展的同时获得自身长足的发展?如何发挥自身的比较优势,进行金融产品创新及风险控制,培育自身核心竞争力?如何评价目前的财务公司经营效率和竞争力?财务公司的未来发展趋势和方向如何?这些问题都值得我们认真思考并提出可行的方案。财务公司作为心中国金融系统的一份子,对其发展模式及产品创新的研究也有助于丰富我国金融市场产品和服务品种,有助于推进我国整个金融体系的改革和发展。
本文从我国企业财务公司的发展历程出发,结合作者的实际工作及财务公司行业普遍遇到的现实问题,对企业集团财务公司的经营管理模式和金融产品创新问题展开研究,主要工作概括如下：
(1)分析了财务公司产生的理论基础,并对财务公司职能定位、发展方向、金融业务创新、竞争力评价等问题进行了文献综述。
(2)对我国企业集团财务公司的产生的经济背景及发展历程进行了分析,指出了我国财务公司发展中存在的主要问题,这也正是本文重点研究的内容。随后通过与西方发达国家及地区财务公司经营管理模式的比较分析,提出发展我国财务公司的借鉴之处。
(3)从价值链管理的角度分析了影响资金集中管理效果的关键因素,并用结构方程方法对这些要素的重要性进行了实证研究,为企业集团实施资金集中管理提供了思路。
(4)从资金结算业务流程的角度对企业集团及财务公司资金集中管理模式分别进行了比较研究,在此基础上设计了两种衍生财务公司资金集中管理模式：代理银行模式和虚拟银行模式,并在现实工作中由笔者实施电子结算业务系统开发将代理银行模式进行了实践应用。
(5)对财务公司业务创新的范围与方向进行了研究,重点对资产证券化及票据业务进行了创新设计,其中票据业务由笔者在实践中加以推广与应用。
(6)从财务公司行业的实情出发,结合行业特点,构建了财务公司竞争力评价指标体系,以能源电力行业财务公司为样本进行了实证分析,并由此引导财务公司行业开展对标管理活动。
最后,总结了全文的工作,并指出了今后进一步研究的方向。
The foreign finance companies have had a history of 200 years and play a significant role in social and economic life. Big multinationals establish subsidiary institutions such as finance company to offer special financial service for them. And now moren than two-thirds of multinationals have established finance company. In China finance company is a product of the economic and financial system reform and acts as a new force in financial fields. The theory and practice on management, development module and supervision of finance company is in the course of studies and explorations. The various and special demands for financial service of the groups, and the increasingly open global financial market have given much pressure to finance companies. Facing serious challenge and competetion, finance company has the driving force to innovate.
But how to realize the sustainable development in the process of serving the groups? How to make full use of comparative advantages and cultivate core competetions through the innovation? How to evaluate the comprehensive strength and efficiency of finance company? What is the trend and advancement for finance company in the future? All these problems are worthy of our consideration. So it is of great practical significance for us to study on the management module and product innovation of finance company. It is bennificial to cultivate competetions of finance company and attract attention of supervision institution to make better circumstance and policy for finance company. At the same time finance company acts as one member of the whole financial system, whose developments are also useful to rich Chinese finnancial market and promote reform and development of the whole finnancial system.
Under such background I made a study on the throry, manangement module and some product innovation of finance company in the paper. The main research works were as follows:
(1) First I analysized the theoretical foundation of finance company. The main research problems about advancement, innovation and competition compraisal were also involved.
(2) Then I introduced the the background of finance company in China and pointed out the main problems in the process of finance company development, which was also the main conten of the research. Based on the comparation of finance company in China with finance company in advanced countries and zones, I gave some advice in order to benefit from the experience.
(3) In this chart I analysized the key factors of FCM from the angle of valuechain management, and used the method of SEM to make an empirical research on these key factors to give some thoughts for group implecating FCM.
(4) Based on the comparation of FCM model of finance company and group, I designed two new FCM models:the agent bank model and the virtual bank model, and applied the agent bank model into practice.
(5) I made some innovation on the asset secutities and notes business and also applied them into practice having gotten economic effects and profits. It is instructive and significative for finance company industry in such business.
(6) I created a comprehensive competetion index system of finance company based on the characters and facts of finance company industry, and then selected finance company from energy and electronic power industry as samples to make an emprical studies.
Finally, I summarized the work of the full text, and pointed ou the direction that would be studied further in the future.
那么财务公司如何实现准确定位,在服务集团发展的同时获得自身长足的发展?如何发挥自身的比较优势,进行金融产品创新及风险控制,培育自身核心竞争力?如何评价目前的财务公司经营效率和竞争力?财务公司的未来发展趋势和方向如何?这些问题都值得我们认真思考并提出可行的方案。财务公司作为心中国金融系统的一份子,对其发展模式及产品创新的研究也有助于丰富我国金融市场产品和服务品种,有助于推进我国整个金融体系的改革和发展。
本文从我国企业财务公司的发展历程出发,结合作者的实际工作及财务公司行业普遍遇到的现实问题,对企业集团财务公司的经营管理模式和金融产品创新问题展开研究,主要工作概括如下：
(1)分析了财务公司产生的理论基础,并对财务公司职能定位、发展方向、金融业务创新、竞争力评价等问题进行了文献综述。
(2)对我国企业集团财务公司的产生的经济背景及发展历程进行了分析,指出了我国财务公司发展中存在的主要问题,这也正是本文重点研究的内容。随后通过与西方发达国家及地区财务公司经营管理模式的比较分析,提出发展我国财务公司的借鉴之处。
(3)从价值链管理的角度分析了影响资金集中管理效果的关键因素,并用结构方程方法对这些要素的重要性进行了实证研究,为企业集团实施资金集中管理提供了思路。
(4)从资金结算业务流程的角度对企业集团及财务公司资金集中管理模式分别进行了比较研究,在此基础上设计了两种衍生财务公司资金集中管理模式：代理银行模式和虚拟银行模式,并在现实工作中由笔者实施电子结算业务系统开发将代理银行模式进行了实践应用。
(5)对财务公司业务创新的范围与方向进行了研究,重点对资产证券化及票据业务进行了创新设计,其中票据业务由笔者在实践中加以推广与应用。
(6)从财务公司行业的实情出发,结合行业特点,构建了财务公司竞争力评价指标体系,以能源电力行业财务公司为样本进行了实证分析,并由此引导财务公司行业开展对标管理活动。
最后,总结了全文的工作,并指出了今后进一步研究的方向。
The foreign finance companies have had a history of 200 years and play a significant role in social and economic life. Big multinationals establish subsidiary institutions such as finance company to offer special financial service for them. And now moren than two-thirds of multinationals have established finance company. In China finance company is a product of the economic and financial system reform and acts as a new force in financial fields. The theory and practice on management, development module and supervision of finance company is in the course of studies and explorations. The various and special demands for financial service of the groups, and the increasingly open global financial market have given much pressure to finance companies. Facing serious challenge and competetion, finance company has the driving force to innovate.
But how to realize the sustainable development in the process of serving the groups? How to make full use of comparative advantages and cultivate core competetions through the innovation? How to evaluate the comprehensive strength and efficiency of finance company? What is the trend and advancement for finance company in the future? All these problems are worthy of our consideration. So it is of great practical significance for us to study on the management module and product innovation of finance company. It is bennificial to cultivate competetions of finance company and attract attention of supervision institution to make better circumstance and policy for finance company. At the same time finance company acts as one member of the whole financial system, whose developments are also useful to rich Chinese finnancial market and promote reform and development of the whole finnancial system.
Under such background I made a study on the throry, manangement module and some product innovation of finance company in the paper. The main research works were as follows:
(1) First I analysized the theoretical foundation of finance company. The main research problems about advancement, innovation and competition compraisal were also involved.
(2) Then I introduced the the background of finance company in China and pointed out the main problems in the process of finance company development, which was also the main conten of the research. Based on the comparation of finance company in China with finance company in advanced countries and zones, I gave some advice in order to benefit from the experience.
(3) In this chart I analysized the key factors of FCM from the angle of valuechain management, and used the method of SEM to make an empirical research on these key factors to give some thoughts for group implecating FCM.
(4) Based on the comparation of FCM model of finance company and group, I designed two new FCM models:the agent bank model and the virtual bank model, and applied the agent bank model into practice.
(5) I made some innovation on the asset secutities and notes business and also applied them into practice having gotten economic effects and profits. It is instructive and significative for finance company industry in such business.
(6) I created a comprehensive competetion index system of finance company based on the characters and facts of finance company industry, and then selected finance company from energy and electronic power industry as samples to make an emprical studies.
Finally, I summarized the work of the full text, and pointed ou the direction that would be studied further in the future.
引文
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