随着经济全球化的发展，市场竞争日趋激烈，对于达到一定规模的集团公司， 能否实现长久稳步发展，不仅取决于集团公司对外展示的规模、技术、品牌等因 素，同时也高度依赖其内部管控水平。财务管控作为战略管控的一种手段，其在 企业经营中的地位也越发重要。然而，旧的财务管控模式，已经无法满足集团化 发展的管理需求，管理模式不更新将制约企业的对外发展。为有效解决上述问题， 系统研究优化我国集团财务管控模式，更具有现实意义。在当今多变的发展环境 中，只有不断的创新理论，不断的变革技术，提高管控水平，才能够提升集团核 心竞争力，支持企业集团赢得更大的发展空间。现有理论的研究多集中在市场研 发创新领域，对企业集团财务管控模式的创新优化的研究较少，已有的研究缺乏 理论高度，不具备普适性。 ZF集团作为市级政府投融资公司，经过多年发展，逐步成为规模化、多元 化的大型企业集团公司。由于历史原因，ZF集团对子公司的财务管控“集权” 与“分权”二元模式并存，随着资产规模越来越大、业务越来越多元化，内部管 理幅度大幅增加，集团财务管控难度也越来越大。本文基于ZF集团财务管控的 二元化特征，借鉴国内外学者最新的研究成果，对ZF集团财务管控模式存在的 问题进行剖析，认为ZF集团财务二元管控模式制约了企业发展活力，投融资管 控风险较大，资本运作效果欠佳，财务信息化建设较为滞后，财务业绩考核缺乏 手段。造成财务管控问题的主要原因是集团发展战略定位不高、政府投融资体制 改革不彻底、财务团队管控能力不足等。针对这些问题，提出了促进集团发展战 略实现、提升集团整体经营效率、提高集团财务信息质量、确保集团运营合法合 规、保障集团国有资产安全的财务管控优化目标，并结合实际提出了强化集团财 务战略管控、引入财务共享服务机制、建立集团资金结算中心、打造统一的财务 管控平台、完善有效的业绩考核制度等具体优化措施，在此基础上，通过积极获 取集团决策层支持、加强财务人员团队建设、强化财务活动审计监督、引入平衡 计分卡评价体系等保障措施，能够有效解决ZF集团财务管控问题，逐步实现“集 权”的统一财务管控模式，以提升财务管控水平，更好地服务企业发展战略。本 文认为，ZF集团要充分抓好郑州国企改革机遇，引入新型财务共享服务理念， II 并采取循序渐进的策略，积极稳妥推进集团财务管控模式优化，提升企业财务运 作水平。本文的研究对具有一定规模的政府投融资公司财务管控模式实务工作 有现实指导意义，也为优化后的管控模式在同类型集团公司中的推广提供经验。 关键词：企业集团 财务管控 二元模式 优化分析 III Abstract With the development of economic globalization and increasingly fierce market competition, whether a group company with a certain scale can achieve long-term and steady development depends not only on the scale, technology, brand and other factors displayed by the group company, but also on its internal control level. Financial control, as a means of strategic control, plays an increasingly important role in enterprise management. However, the old financial management and control model has been unable to meet the management needs of the group development, and the failure to update the management model will restrict the external development of enterprises. In order to effectively solve the above problems, it is of more practical significance to systematically study and optimize the financial control mode of China's group. In today's changeable development environment, only continuous innovation theory, continuous change of technology, improve the level of control, can improve the core competitiveness of the group, support the enterprise group to win more development space. Most of the existing theoretical research focuses on the market research and development innovation field, and there are few researches on the innovation and optimization of the financial control model of enterprise groups. The existing research lacks theoretical height and is not universal. As a municipal government investment and financing company, ZF group has gradually become a large-scale and diversified enterprise group company after years of development. Due to historical reasons, ZF group coexists the dual mode of "centralization" and "decentralization" in the financial control of its subsidiaries. With the increasing asset size and diversified business, the range of internal management increases significantly, and the difficulty of financial control of the group is also increasing. This article, based on the duality of ZF group financial control characteristics, scholars at home and abroad for reference, the latest research results, the problems existing in the financial control mode of ZF group, think ZF group financial dual control mode has restricted the vitality of enterprise development, investment and financing to control the risk is bigger, the inefficiency of capital IV operation, financial informatization construction is relatively lag, financial performance appraisal lack of means. The main causes of the financial control problems are the group's development strategy positioning is not high, the government investment and financing system reform is not complete, the financial team control ability is insufficient. To solve these problems, put forward to promote group development strategy implementation, improve overall operating efficiency, improve the quality of group financial information, to ensure that the group operating legal compliance, to ensure the safety of group of state-owned assets of financial control, and puts forward strengthening group combined with the actual financial strategy control, introducing financial Shared services mechanism, establishing the group capital settlement center, build a unified financial control platform, perfecting the effective performance appraisal system and so on specific optimization measures, based on this, By actively obtaining the support of the group decision-making level, strengthening the team building of financial personnel, strengthening the audit supervision of financial activities, introducing the balanced scorecard evaluation system and other safeguard measures, the financial control problems of ZF group can be effectively solved, the financial control level can be improved, and the development strategy of the enterprise can be better served. This paper believes that ZF group should fully seize the opportunity of the reform of state-owned enterprises in zhengzhou, introduce the new concept of financial sharing service, and adopt the strategy of gradual progress, actively and steadily promote the optimization of financial control mode of the group, and improve the financial operation level of the enterprise. The research of this paper has practical guiding significance for the practical work of the financial control mode of government investment and financing companies with a certain scale, and also provides experience for the promotion of the optimized control mode in the same type of group companies. Key Words：Enterprise Group Financial control Binary mode Optimization analysis V 目 录 第一章 绪论 ........................................................................................................... 1 第一节 研究背景和意义 ................................................................................... 1 一 研究背景 ........................................................................................... 1 二 研究意义 ........................................................................................... 1 第二节 文献综述 ............................................................................................... 2 一 国外文献 ........................................................................................... 2 二 国内文献 ........................................................................................... 3 第三节 本文的研究内容及研究路线 ............................................................... 4 一 研究内容 ........................................................................................... 4 二 研究路线 ........................................................................................... 4 第四节 本文的研究方法与创新点 ................................................................... 6 一 研究方法 ........................................................................................... 6 二 创新点 ...................................