【作者】 李军；

【导师】 王竹泉；

【作者基本信息】 中国海洋大学 ， 会计学， 2010， 硕士

【摘要】 2008年末美国次贷危机引发金融危机,全球经济进入萧条期,有人形象的比喻成“冬眠”,什么样的企业可以顺利度过冬眠,决定企业生死存亡的关键要素是什么?现金流是其中必不可少的一个。现金流管理是企业财务管理的核心内容,而财务管理的水平和质量直接影响的企业的经营,因此,现金为王,无可厚非。现金流管理本身拥有庞大的理论和实践体系,而对跨国企业而言,业务类型多样,组织机构众多,内外部环境复杂,影响因素多样,因此跨国企业的现金流管理非常复杂。随着经济发展的不断深入,越来越多的中国企业走出去,同时跨国企业也更加重视中国市场,纷纷在中国设立机构。而大家所面临的现金流管理问题基本类似的,主要有以下几点：从企业管理角度看,很多企业就问题看问题,从现金流的角度解决现金流问题,现金流的运行结果是公司整体运营的结果体现,现金流出现问题通常都不是其自身的问题而是企业的运营和管理的问题。因此只就现金流本身的问题制定解决方案,是治标不治本的。同时,从财务管理角度看,很多跨国企业现金流安全性水平不高,目前相当多的跨国企业尚未达形成有效的决策约束机制,资金流动缺乏有效的控制和监督,甚至很多资金存在体外循环的现象,在财务管理方面产生严重的失控。同时,当前很多跨国企业的现金流流动性不足,现金流动性决定了企业资金资本的效率,决定跨国企业营运资金的需求量,因此流动性不足会导致企业整体运营效率低下。本文针对这些问题,在总结分析当前理论界主要观点的基础上,总结了跨国企业现金流管理的复杂性和特殊性,从而得出跨国企业现金流管理的核心目标就是安全性和流动性。从这两个目标出发,结合个人的实际工作经验,本文从战略和战术两个方面给出了解决方案。战略上,企业首先要审核现金流问题所体现的管理问题,改变现金流管理观念,提升企业战略流程管理,从而改善企业的运营和财务管理,从本质上改善现金流问题。战术上,针对跨国企业现金流管理所涉及的核心内容给出了解决方案,包括跨国企业应收账款管理,如何有效实施跨国企业资金集中管理,以及如何从提升资金内控体系的角度提升企业的现金流管理水平。这两部分内容也是本文的主要创新点。更多还原

【Abstract】 End of 2008, the crisis of second mortgage arise the financial crisis. And the global economy depression is coming accordingly. Somebody call it Hibernation. But which is the key elements for a corporation to survive the hibernation? I think CASH FLOW is an essential one.Cash flow management is the core of financial management, and financial management directly affects the enterprise management quality. Therefore, cash is king that is totally correct. Cash flow management has a huge system of theory and practice, and the multinational companies management which affected by many different elements is complicated.So multinational cash flow management is very complex problem.With the economic development, more and more Chinese enterprises to set up subsidiary on abroad, while many multinational enterprises pay more attention to the Chinese market and set up offices in China. But I think the cash flow management problems we face is probably similar, which is mainly the following points:From the corporate point of view, cash flow is the result of company’s overall operating. It reflects the problem of its own business operations and management. Therefore any solution focus on cash flow itself is a temporary solution. And from the financial management perspective, and the cash flow security level of many multinationals is not very good. At the same time, the capital liquidity of most company can’t meet the management demand.In this article, it is summarized the main points of the current cash flow management theory and my practical experience, I concluded that the core objective of multinational cash flow management is the safety and liquidity. From these two goals, combined with my practical experience, I give the solution from a strategic and tactical points. From strategy point, the company must change the concept of cash flow management. To improve internal management processes first and then solve the cash flow problem. From tactics points, to multinational companies, the cash flow management should focus on accounts receivable management, supply chain management, multinational capital centralized management approach, and how to improve financial internal control system to enhance the cash flow point of management. These two parts are the main innovation of this article.更多还原