战略需求导向下的资金集中管理模式变革研究——基于美的集团的纵向案例分析  

Under the Guidance of Strategic Demands——A Longitudinal Case Study Based on Midea Group

作　　者：刘建勇[1] 张宁[1] 高浪洲 Liu Jianyong;Zhang Ning;Gao Langzhou(School of Economics and Management,China University of Mining and Technology,Xuzhou221116)

机构地区：[1]中国矿业大学经济管理学院,徐州221116

出　　处：《珞珈管理评论》2024年第3期143-168,共26页Luojia Management Review

基　　金：国家社会科学基金“并购重组业绩补偿承诺的负面效应与监管策略研究”(18BGL068);“‘双向’产融结合对实体企业技术创新的影响机理与治理策略研究”(21BJY145)。

摘　　要：基于美的集团纵向单案例,分析企业资金集中管理模式随战略需求变化而动态调整的实施效果。研究发现,从机会成长阶段—规模成长阶段—优化升级阶段,美的集团战略需求呈现出“异地扩张—产业扩张—国际化与多元化扩张”的变化态势,其资金集中管理模式经历了“结算中心异地结算模式—数据大集中模式—财务公司”的动态调整,资金集中管理模式对应职能也在动态调整中完成了“异地资金管理能力—跨业务协调能力—金融发展能力”的叠加。美的集团根据战略需求变化动态调整资金集中管理模式是资金集中管理活动成功的关键,这一研究发现对战略需求影响资金集中管理模式的理论解释提供了案例依据,也为集团企业的资金集中管理模式选择提供了启示。Based on a longitudinal single-case study of Midea Group,this paper analyzes the theoretical logic and implementation effects of dynamic adjustments in centralized capital management models in response to changes in strategic demands.The study reveals that Midea Group's strategic demands during the stages of opportunity growth,scale growth,and optimization and upgrade exhibit a changing trend of“expansion in different locations,industry expansion,internationalization and diversified expansion.”The centralized capital management mode of the company undergoes dynamic adjustments from offsite settlement model for clearing centers,large-scale data concentration model for clearing centers,to financial company model and the corresponding functions of fund concentration management are also overlaid during this dynamic adjustment,encompassing remote fund management capability,cross-business coordination capability,financial development capability.Midea Group's dynamic transformation of fund concentration management mode in accordance with changes in strategic demands is identified as a key factor in the success of fund concentration management activities.This research provides case evidence for the theoretical interpretation of how strategic demands influence the centralized capital management models and offers insights for the selection of centralized capital management models in corporate groups.

关 键 词：战略需求 资金集中管理 结算中心异地结算模式 结算中心数据大集中模式 财务公司模式 

分 类 号：F275[经济管理—企业管理]