基于自由现金流管理视角的创值动因解析模型研究

Analyzing Model of Value-Creation Factors from the View of Free Cash Flow Management

以创值为目标、(自由)现金流为对象的现金流创值财务学要解决的主要问题是企业如何从(自由)现金流的角度进行财务管理从而实现价值最大化的目标。本文借鉴拉巴波特模型和杜邦分析系统的思想构建自由现金流管理视角的创值动因解析模型,为企业精细化地进行现金流管理提供一个有价值的分析工具。依据创值动因解析模型的分析结果,企业可以有针对性的采取相应的财务管理措施,实现价值创造。

With the goal of creating values and target of cash flows,finance for value-creation based on cash flow(FVCF)mainly handles with how to do financial management to realize the maximizing of values from the aspects of free cash flows management.With the help of Rappaport model and Dupont analyzing system,an analyzing model of value-creation factors from the view of free cash flow management is set up to act as valuable tool for corporations to do financial management in a finer way.Based on the analysis results from the model,corporations can accordingly adopt proper financial management methods to realize value creation.