本文選題：SDL公司 + 轉(zhuǎn)型期財務(wù)戰(zhàn)略�。� 參考：《青島科技大學(xué)》2017年碩士論文

【摘要】：目前我國正處于產(chǎn)業(yè)轉(zhuǎn)型的關(guān)鍵階段,許多傳統(tǒng)企業(yè)紛紛尋找新的發(fā)展機會,為了更好的適應(yīng)企業(yè)的發(fā)展,需要對財務(wù)戰(zhàn)略進(jìn)行及時地調(diào)整和完善。本文選取了處于轉(zhuǎn)型期的肥料生產(chǎn)商SDL公司作為研究對象,面對肥料市場日趨激烈的競爭和嚴(yán)重的產(chǎn)能過剩,SDL企業(yè)正試圖由傳統(tǒng)的肥料制造商向農(nóng)業(yè)服務(wù)商轉(zhuǎn)變,本文從企業(yè)所處的內(nèi)外部環(huán)境為出發(fā)點,針對企業(yè)目前的投資、籌資及收益分配戰(zhàn)略進(jìn)行了分析與探討,并根據(jù)發(fā)現(xiàn)的一些問題提出了調(diào)整建議及相應(yīng)的保障措施。首先通過對投資的分析,本文發(fā)現(xiàn)SDL公司對新投資項目投資步伐過快,新項目盈利能力較差,目前企業(yè)的營業(yè)收入仍以肥料制造為主;籌資方面,企業(yè)籌資方式較單一,新戰(zhàn)略的實施需要大量資金而且公司的業(yè)務(wù)特點決定了其長期資產(chǎn)較多,但SDL公司并沒有充分利用長期借款,而且短期籌資中對預(yù)收賬款的依賴較大;收益分配策略上,由于企業(yè)處于特殊的發(fā)展時期,對資金的需求量比較大,但是SDL公司以現(xiàn)金收益分配方式為主,且股利支付率逐年增高。針對SDL公司財務(wù)戰(zhàn)略的不足,提出如下建議:第一,放緩對農(nóng)業(yè)公司的投資步伐,投資時需要完善項目調(diào)研與評估機制,加大研發(fā)投入、提高主業(yè)競爭力;第二,重視對長期籌資的利用,充分利用國家政策優(yōu)勢爭取更多政府補助,重視利用多種間接籌資方式;第三,通過發(fā)放股票股利代替現(xiàn)金股利。最后,為確保財務(wù)戰(zhàn)略的順利調(diào)整,本文提出了相應(yīng)的保障措施,包括增強員工的財務(wù)戰(zhàn)略意識,完善財務(wù)戰(zhàn)略考核標(biāo)準(zhǔn),強化財務(wù)戰(zhàn)略與其他戰(zhàn)略的融合等。本文對SDL公司轉(zhuǎn)型期的財務(wù)戰(zhàn)略進(jìn)行研究,希望能夠幫助處于轉(zhuǎn)型期的企業(yè)正確分析其所處的內(nèi)外部環(huán)境,并在此基礎(chǔ)上制定符合企業(yè)總體發(fā)展戰(zhàn)略的財務(wù)戰(zhàn)略,從而促進(jìn)企業(yè)實現(xiàn)長遠(yuǎn)發(fā)展。
[Abstract]:At present, our country is in the key stage of industrial transformation, many traditional enterprises have to look for new development opportunities, in order to better adapt to the development of enterprises, it is necessary to adjust and improve the financial strategy in time. In this paper, SDL Company, a fertilizer producer in transition period, is selected as the research object. In the face of increasingly fierce competition in fertilizer market and serious overcapacity, SDL enterprises are trying to change from traditional fertilizer manufacturers to agricultural service providers. Starting from the internal and external environment of the enterprise, this paper analyzes and discusses the present investment, financing and income distribution strategies of the enterprise, and puts forward some adjustment suggestions and corresponding safeguard measures according to the problems found. First of all, through the analysis of the investment, this paper finds that the SDL company invest in the new investment project too fast, the profitability of the new project is poor, the operating income of the enterprise is still mainly made of fertilizer, and the financing method of the enterprise is relatively simple. The implementation of the new strategy requires a large amount of funds and the company's business characteristics determine its long-term assets, but SDL does not make full use of long-term loans, and in short-term financing, it relies heavily on the accounts received in advance. Because the enterprise is in a special period of development, the demand for capital is relatively large, but the SDL company mainly distributes cash income, and the dividend payment rate increases year by year. In view of the deficiency of SDL's financial strategy, the following suggestions are put forward: first, to slow down the investment in agricultural companies, to improve the research and evaluation mechanism of projects, to increase R & D investment, and to improve the competitiveness of the main industry. Pay attention to the use of long-term financing, make full use of the advantages of national policies for more government subsidies, pay attention to the use of a variety of indirect financing; third, by issuing stock dividends instead of cash dividends. Finally, in order to ensure the smooth adjustment of the financial strategy, this paper puts forward the corresponding safeguard measures, including strengthening the staff's financial strategy consciousness, perfecting the financial strategy assessment standard, strengthening the integration of the financial strategy and other strategies, etc. This paper studies the financial strategy of SDL Company in the transition period, hoping to help the enterprises in the transition period to correctly analyze their internal and external environment, and on this basis, to formulate the financial strategy in line with the overall development strategy of the enterprise. In order to promote the long-term development of enterprises.
【學(xué)位授予單位】：青島科技大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F426.72;F406.7

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