Topic selection of financial management thesis (I) Research direction of financial basic theory
1, research on financial management objectives
2, the company's financial system design
3. Dividend theory and dividend policy
4. Research on some financial problems of enterprise bankruptcy.
5. Research on financial competitiveness of enterprises
6. Financial management under the network environment
7. Research on the principle and application of financial leverage.
8. Measurement of enterprise value creation: EVA or Tobin's Q?
9. Impact of low-carbon economy on corporate financial environment
10, the role orientation and quality requirements of the CFO
1 1. Research on the discipline construction of financial management.
12, investor finance theory
13, Research on the Quality of Financial Management
14, financial management model innovation
Research on corporate financial governance.
16, the application of option pricing theory in company value evaluation.
17, analysis and evaluation of enterprise financial core competitiveness
18, Research on Enterprise Financial Early Warning System
19, research on financial management system reform
20, financial management environment research
(B) the research direction of financing theory
2 1, corporate financing management
22, the enterprise moderate debt research.
23, the company working capital management
24. Leverage effect of company operation
25, the choice of the company's capital structure
26. Selection and comparison of corporate financing methods
27. Financial leverage and its application in financing decision-making.
28, financing management problems and optimization strategies.
29, SME financing research.
30. Research on financing preference of listed companies.
3 1, the present situation and innovative development direction of enterprise financial leasing in China
32. Comparative analysis of enterprise financing structure
33. Research on the influence of debt management on company value? Take a company as an example.
34. Comparison of refinancing methods and costs
35. Research on financing priority of listed companies.
36. Optimization of capital structure of listed companies.
37. Empirical Study on Corporate Governance and Financing Costs
38. Problems and optimization strategies in financing management of private enterprises.
39, supply chain financing research
40, corporate bond financing research
4 1, Empirical Study on Capital Structure of Listed Companies
42, financing constraints and accounting fraud
43. About financial leasing in China.
44. Research on refinancing of listed companies.
45. Research on M&A financing of listed companies
46, private enterprise financing dilemma and its countermeasures
47. Research on financing mechanism of small and micro enterprises
48, SME cluster financing research
49. E-commerce and SME financing
50. Development of small and medium-sized financial institutions and financing of small and medium-sized enterprises
(C) the research direction of investment theory
5 1, long-term investment decision evaluation index and its comparative analysis
52. Research on investment performance of listed companies
53. Research on investment decision-making of listed companies
54. Research on Market Value Management of Listed Companies
55. Research on the protection of the interests of small and medium-sized investors
56. Research on enterprise value evaluation method-taking listed companies as an example.
57. The relationship between investment decision, financing decision and dividend policy.
58, the financial feasibility analysis of investment projects
59. Summary of theoretical and empirical research on investor protection.
60. Research on the behavior of major shareholders after the share-trading reform.
6 1, Research on Investor Relations Management of Listed Companies
62. Research on the market reaction of listed company executives involved in the case.
63. Research on the effect of mergers and acquisitions.
64. Analysis of investment value of listed companies
65. Research on the influence of venture capital institutions on the investment and financing efficiency of listed companies
66, the company's investment opportunities and investment scale analysis.
66, the company's investment direction and investment area analysis
67. Research on the Application of Portfolio Theory in Stock Investment
68. China Venture Capital Research.
69. Research on Risk Control of Warrant Investment
70. Research on financial problems of project investment.
(D) Research direction of income distribution theory
7 1, Comparison and Selection of Dividend Policies
72. A Comparative Study on Dividend Policies of Chinese and Western Companies
73, stock options and manager incentives
74. Dividend policy of listed companies and its causes
75. Research on executive compensation governance of listed companies
76, the impact of equity incentives on corporate governance
77. Research on stock option incentive of listed companies.
78. Research on the Influencing Factors of Dividend Policy of Listed Companies
79. Earnings management and its identification.
80. Literature Review on Equity Incentive of Listed Companies
8 1, analysis of equity incentive effect of listed companies
82. Problems and Countermeasures in Dividend Distribution of Listed Companies —— Taking the Company as an Example
83. Comparative Analysis of Cash Dividends and Stock Dividends
84. Analysis of the impact of free cash flow on dividend policy.
85, salary incentives and the choice of managers' behavior
86. The relationship between dividend policy and stock price of listed companies.
87. Research on dividend policy and corporate governance of listed companies.
88. Research on dividend form and income quality of listed companies
89, enterprise managers incentive mechanism research.
90. Tax planning in the process of enterprise income distribution
Analysis of Financial Management Theory
Abstract: With the continuous improvement of China's market economy, enterprise financial management is becoming more and more important for the development of enterprises, which is related to their survival and development. Financial managers should master the relevant knowledge of financial management, strengthen the risk awareness of financial management, nip in the bud, and avoid heavy losses for enterprises.
Keywords: financial management risk control
I. Overview of financial management
(A) the meaning of financial management
Financial management refers to the management of assets purchase (investment), financing (financing), cash flow (working capital) and profit distribution under the guidance of certain laws and regulations. Financial management is an integral part of enterprise management. It is an economic management work to organize enterprise financial activities and handle financial relations according to financial laws and regulations and financial management principles. As the core of enterprise management, financial management plays a very important role in improving enterprise management level and economic benefits. Practice shows that the level of financial management has an important impact on the economic benefits of enterprises.
(B) the content of financial management
From the perspective of organizing enterprise financial activities, the contents of financial management include investment management, fund-raising management, working capital management, profit distribution and so on.
1, investment management
Investment and financial management is a broad concept, including both foreign investment and domestic investment. Foreign investment refers to the purchase of stocks and bonds of other enterprises, the purchase of government bonds and financial bonds, and direct investment in other enterprises; Internal investment refers to the investment in purchasing long-term assets within an enterprise, such as purchasing fixed assets and intangible assets.
The investment of enterprises can be divided into the following types according to different standards:
(1) Direct investment and indirect investment. Direct investment refers to the investment in which funds are directly invested in the production and operation of assets to obtain profits. Indirect investment, also known as securities investment, refers to the investment in financial assets such as securities in order to obtain dividend or interest income.
(2) Long-term investment and short-term investment. Long-term investment, also known as capital investment, refers to the investment that can be recovered after one year. Short-term investment, also known as current asset investment, refers to the investment that can be recovered within one year, such as accounts receivable, inventory, short-term securities and other investments.
2. Financing management
Financing refers to the behavior of enterprises to obtain funds in an appropriate way according to the demand for funds in production and business activities. Enterprises can raise funds through various channels and ways. Different sources of funds, the length of use period, additional terms and conditions, the size of capital cost and the degree of risk are different. The goal of fund-raising management is to raise the required funds with lower capital cost and less fund-raising risk while ensuring the production and operation needs of enterprises. The problem to be solved in fund-raising management is how to obtain the funds needed by enterprises, including who to raise funds, when to raise funds and how much to raise funds.
The sources of funds available for enterprises to choose, also known as financing channels. According to the different control rights of investors, it can be divided into equity funds and borrowed funds. According to the length of service life, it is divided into long-term funds and short-term funds.
3. Working capital management
Working capital management is the management of current assets and liabilities of enterprises. In order to maintain normal operation, an enterprise must have an appropriate amount of working capital, so working capital management is an important part of enterprise financial management.
To manage working capital well, we must solve two problems in working capital management: current assets and current liabilities:
First, how much should an enterprise invest in its current assets, that is, the management of the use of funds. It mainly includes cash management, accounts receivable management and inventory management.
Second, how to finance the current assets of enterprises, that is, the management of fund raising. Including the management of short-term bank loans and commercial credit.
It can be seen that the core content of working capital management is the management of fund utilization and fund raising.
4. Profit distribution
When making dividend decisions, many factors should be considered, such as the different tax rates of cash dividends and capital gains in the tax law, the future investment opportunities of enterprises, the source channels and costs of funds, the stability of stock prices, shareholders' preferences for current and future earnings, etc.
(C) the characteristics and importance of financial management
1, high sensitivity. Under the modern enterprise system, enterprises become market-oriented independent legal entities and market competition subjects. The goal of enterprise management is to maximize economic benefits, which is determined by the requirements of modern enterprise system for maintaining and increasing the value of capital investment, and is also the fundamental requirement of socialist modernization. Because, if an enterprise wants to survive, it must have income to pay its debts. If an enterprise wants to develop, it must increase its income. The increase of income means the corresponding increase of people, money and things, which will be fully reflected in the financial affairs of enterprises in the form of capital flow and have a great impact on the completion of financial indicators. Therefore, financial management is the basis and center of all management.
2. comprehensive. As a kind of value management, financial management is a comprehensive economic management activity. Because it is value management, financial management can timely and comprehensively reflect the operation of materials through the value form of fund receipt and payment and flow, and can manage materials through the value management form. In other words, financial management permeates all business activities, involving every link of production, supply and sales and all elements of people, money and things. Therefore, we should take financial management as a breakthrough and coordinate, promote and control the production and business activities of enterprises through value management. Other management, such as production management, marketing management, quality management, technology management, equipment management, personnel management, material management, etc. All adopt the method of physical measurement from a certain aspect to organize, coordinate and control a certain part of the enterprise's production and operation activities, and the management effect can only restrict this part of the enterprise's production and operation, and it is impossible to manage the whole enterprise's operation.
3, involving a wide range. First of all, as far as enterprises are concerned, financial management activities involve all aspects of production, supply and sales, and there is no phenomenon that various departments within enterprises are not connected with funds. All departments also accept financial guidance, and accept the supervision and restraint of financial management departments in terms of rational use of funds, saving capital expenditures and improving capital utilization. At the same time, the financial management department itself provides timely, accurate, complete and continuous basic information for enterprise production management, marketing management, quality management, human resource management and other activities. Secondly, the financial management of modern enterprises also involves various relationships outside the enterprise. Under the condition of market economy, enterprises are inextricably linked with various stakeholders in the process of market financing, investment and income distribution. It mainly includes: between enterprises and their shareholders, between enterprises and their creditors, between enterprises and governments, between enterprises and financial institutions, between enterprises and their suppliers, between enterprises and their customers, between enterprises and their internal employees, and so on.
Second, financial management risk and control
(I) Definition of enterprise financial management risk Enterprise financial management risk refers to that in various financial activities, due to various uncertain factors, the enterprise's financial income deviates from the expected income, so that the enterprise has the opportunity and may suffer losses. Enterprises are profit-making economic organizations, and they are always faced with risks and crises from all sides in the process of production and operation.
(B) enterprise financial management risk control
No matter what stage an enterprise is in, the prevention and resolution of financial risks is always an important issue. Controlling, preventing and resolving financial risks is the premise to ensure that enterprises are invincible in the fierce market competition. Therefore, to prevent financial risks of enterprises, we should mainly do the following work:
1, improve the adaptability of enterprises to the financial management environment.
Pay close attention to the external environment of enterprises at all times, actively formulate emergency plans, immediately adjust financial management methods, strengthen financial personnel's risk concept, improve financial personnel's sensitivity to financial risks and accurate professional judgment, and avoid financial risks brought to enterprises by changes in external environment to the maximum extent.
2. Straighten out various internal financial relations.
It is necessary to clarify the position, functions and responsibilities of various departments in enterprise financial management, and give them corresponding rights, so as to truly unify the responsibilities, rights and interests and make the internal financial relations of enterprises clear.
3. Improve the scientific level of financial management decision-making.
Guard against financial risks caused by decision-making mistakes. Whether the financial decision of an enterprise is correct or not is directly related to the success or failure of financial management. Enterprises must adopt scientific decision-making methods, fully consider various factors affecting decision-making, and use scientific decision-making models to make decisions, so as to avoid empirical and subjective decisions and reduce financial risks.
4. Determine a reasonable capital structure.
Capital structure is the proportional relationship between debt capital and equity capital, and the imbalance of capital structure is the most intuitive embodiment of various factors affecting financial risks. When the capital structure of an enterprise is optimal, the financial leverage benefits are the greatest. In addition, the following factors should be considered: (1) During the whole period of macroeconomic depression, enterprises should reduce their liabilities as much as possible; In the stage of economic recovery and prosperity, enterprises should increase their debts, seize opportunities and develop rapidly. (2) Be cautious in debt, so that the current ratio is not lower than 1: 1, and it is best to keep it in a safe area of 2: 1. The higher the current ratio, the stronger the short-term solvency, the greater the chance for current liabilities to obtain solvency, and the more secure the creditor's rights.
5. Make a scientific investment and capital plan.
When investing in new projects, it is necessary to accurately measure the project capital demand to prevent the fund gap before the project is completed. Strengthen cash flow management, reduce inventory backlog, speed up liquidity turnover and reduce liquidity occupation. At the same time, when making the annual budget at the beginning of the year, enterprises should predict the annual cash flow and budget funding gap, and make financing plans in advance, including financing channels and financing methods.
Third, the conclusion
Financial management has a very important and far-reaching impact on the economic benefits of enterprises. Therefore, enterprises should firmly establish the concept of financial management, attach importance to the importance of financial management to the development of enterprises, keep a clear head, and respond to possible financial risks at any time to avoid heavy losses for enterprises.
References:
[1] The third edition of the national unified examination syllabus and guide for the comprehensive level of business administration disciplines for people with the same academic qualifications.
[2] In 2008, the national unified examination guidance textbook for certified public accountants "Financial Cost Management".