I 摘要 为了顺应国际经济一体化的步伐、促进全球经济有效交流以及做到一个大国 为推动世界经济发展应有的担当，我国逐渐深入经济全球化格局当中,尤其在面 对亚太地区时，我国表现出积极协作态度与东盟各国签订了一系列互惠友好合作 协议并且成立了中国-东盟自由贸易区等经济合作区，将经济合作提升到了一个 新高度。在这种经济发展形式下，云南作为我国面向南亚、东南亚的经济交流辐 射中心，义不辞地承担着与周边国家开展国际经济合作的重任。与此同时，云南 企业为迎合国家国际化战略发展规划，也正在为企业顺利“走出去”全力做着准 备，力争在国际化发展战略上尽快形成突破。 我国和发达国家的先进企业管理理念相比有着一定的差距，再加上由于一些 历史原因以及我国一些企业的自身问题，致使我国某些企业的战略管理，尤其是 财务战略管理方面得不到足够的重视，进而使得企业在“走出去”的相关准备以 及跨国后的业务运营方面都遇到大量的问题。财务战略作为企业的一种经济“粮 草”战略从头至尾都融入到企业的整个发展过程中，如何有效的让财务战略为企 业跨国发展保驾护航提供充足有效的经济支持，让出国的企业队伍不“断粮受 饿”；如何在“战机”来临时，支持保障企业这只军队有充足的战斗力去抓住机 遇，赢得先机，最终赢得整嘲战争”，成为了越来越多学者，公司高层乃至所 有财务人员所关注的事情。 本文通过研究云南 YD 建筑有限公司近几年的财务情况，结合公司自身的内 外部财务战略环境特点，以企业财务核心能力为财务战略研究视角，搭配上企业 生命周期分析模型、财务指标分析体系、SWOT 环境分析模型的分析和运用，建 立出一套较为严谨、符合云南 YD 建筑有限公司跨国财务需求的财务战略机制。 为未来公司制订合理的跨国财务战略提供新的思路，并为建立公司可持续增长的 财务战略体系奠定理论基矗 根据对云南 YD 建筑有限公司跨国财务战略的相关分析研究，本文指出,该 公司的越南跨国经营并不是一个短期的小项目，而是为了顺应国家发展战略所作 出的跨国经营战略部署。该公司作为云南省省属国有重要骨干企业 YN 集团国企 改革中的混合所有制企业代表，其未来的越南跨国经营效果不仅与公司未来的发摘要 II 展方向和道路紧密相连，还将涉及到 YN 集团在未来的跨国经营战略的制定和部 署，甚至关联到云南省对于相关跨国业务的政策方针的制定和规划，因此与该公 司跨国经营战略相配套的跨国财务战略的构建十分重要。考虑到该公司跨国经营 经验不够丰富，国企混改转型完成时间不长等公司实际情况，本文提出了云南 YD 建筑有限公司在跨国财务战略的投融资方面应以完成任务为前提、配合公司 跨国经营战略实施为基础，通过循序渐进的方式让公司在进入新的海外市场后能 够打牢基储站稳脚跟并最终形成符合公司自身特点的跨国财务战略指导体系， 为后续不断扩大的经营规模做好准备的发展建议和具体实施规划方案，并在文章 最后根据本文对所分析出的关于云南 YD 建筑有限公司跨国经营财务战略的具 体选择方案和在未来的实施规划提出了相关的保障措施以及保障建议，进一步完 善了本文对于该公司跨国经营战略方案的研究性、指导性、完整性与可操作性。 关键字：企业战略 财务战略 跨国经营Abstract III Abstract In order to adapt to the pace of international economic integration and promote global economic and effective communication, and do a great power to promote world economic development should bear, and gradually in-depth economic globalization pattern in our country, especially in the face of the asia-pacific region, collaboration showed a positive attitude in China and asean countries signed a series of mutual friendly cooperation agreement and set up the China - asean free trade area economic cooperation zones, such as the economic cooperation to a new height. In this form of economic development, Yunnan, as China's radiation center of economic exchanges facing South and Southeast Asia, is shouldering the important task of carrying out international economic cooperation with neighboring countries. At the same time, in order to meet the national development plan of internationalization strategy, Yunnan enterprises are also making full preparations for the smooth "going out" of enterprises, and strive to make a breakthrough in the internationalization development strategy as soon as possible. Compared to the advanced enterprise management concept between China and developed countries have a certain gap, and due to some historical reasons and its problems of some enterprises in our country, the strategic management of some enterprises in our country, especially the financial strategic management is not enough attention, leading enterprises in the "going out" related preparation and international business operations after a lot of problems. As an economic "grain" strategy of an enterprise, financial strategy has been integrated into the whole development process of the enterprise from beginning to end. How to effectively make the financial strategy escort the multinational development of the enterprise, how to provide sufficient and effective economic support, so that the team of enterprises going abroad do not "starve"; How to support and guarantee enterprises' sufficient combat capacity to seize the opportunity, win the first opportunity and finally win the whole "war" when the "fighter plane" comes? It has become the concern of more and more scholars, company executives and even all financial personnel.Abstract IV In this article, through the study of yunnan YD architecture co., LTD., the financial situation of recent years, combining with the characteristics of company's own internal and external financial strategic environment and financial strategy research perspectives on enterprise financial core ability, enterprise life cycle analysis model on collocation, financial index analysis system, analysis and use of SWOT analysis model, to establish a set of more rigorous, conform to the yunnan YD construction co., LTD., multinational financial demand mechanism of financial strategy, and through the quantitative and qualitative research methods for the implementation of the strategy of the proper planning and protection. It provides a new way of thinking for future companies to formulate reasonable transnational financial strategy, and lays a theoretical foundation for the establishment of the company's sustainable growth of financial strategy system. According to the relevant analysis and research on the transnational financial strategy of Yunnan YD Construction Co., LTD., this paper points out that the transnational operation of YD Vietnam is not a short-term small project, but the transnational operation strategy deployment made by YN Group in order to comply with the national development strategy. As yunnan provincial backbone state-owned enterprise YN group representatives of mixed ownership enterprise in the reform of state-owned enterprises, the company's future Vietnam transnational operation effect is not only closely connected with the company's future development direction and path, in the future will also involve YN group of transnational operation strategy and deployment, even associated with yunnan province for the relevant policy formulation and planning of the multinational business. Given enough experienced international operation of the company, and state-owned companies such as mixed change transformation completed time is not long actual situation, this paper argues that yunnan YD construction co., LTD., in terms of investment and financing of the multinational financial strategies should pass through the gradual way let the company into a new overseas markets after a foothold to play basic jobs, and ultimately form multinational financial strategic guidance system in accordance with the company's own characteristics, to be prepared for the subsequent constantlyAbstract V expanding business scale. Finally, this paper analyzes the specific choice of yunnan YD Construction Co., Ltd. multinational operation financial strategy and the implementation plan in the future put forward relevant safeguard measures and Suggestions, and then improve the research and operability of the company's multinational operation strategy in this paper. Keywords: Enterprise strategy Financial strategy Transnational operation目 录 VI 目 录 摘要............. I Abstract.........III 第一章 绪 论.1 第一节 选题背景....... 1 第二节 研究内容及意义.......................... 2 一、研究内容.2 二、研究意义.2 第三节 文献综述....... 3 一、国外相关研究........................3 二、国内相关研究........................4 三、文献评述.5 第四节 研究思路及方法............................ 6 一、研究思路.6 二、研究方法.6 三、技术路线图............................7 第二章 基础理论与概念.........10 第一节 财务战略概述.............................. 10 一、财务战略的概念..................10 二、财务战略与企业战略的关系.............................11 三、财务战略的研究视角..........14 第二节 跨国财务战略概述...................... 16 一、跨国财务战略的概念..........16 二、跨国财务战略与本土财务战略的差异............ 17 三、跨国财务战略构建的影响因素.........................20 四、跨国财务战略构建原则......28 五、跨国财务战略构建内容......30目 录 VII 第三节 跨国财务战略管理流程.............. 32 一、跨国财务战略分析..............33 二、跨国财务战略选择..............34 三、跨国财务战略实施..............36 四、跨国财务战略保障..............37 第三章 云南 YD 建筑有限公司情况介绍及跨国财务战略分析.........38 第一节 公司情况介绍.............................. 38 一、公司基本情况介绍..............38 二、公司生命周期介绍..............39 三、公司财务能力介绍..............40 第二节 公司跨国经营战略介绍.............. 44 一、跨国经营战略介绍..............44 二、跨国经营战略实施规划介绍.............................46 三、跨国经营战略总结..............47 第三节 公司内外部财务环境分析.......... 48 一、机会分析..............................48 二、威胁分析..............................50 三、优势分析..............................51 四、劣势分析..............................53 五、SWOT 矩阵分析................. 54 第四节 公司跨国财务战略目标构建...... 55 一、公司财务核心能力判断......55 二、基于企业财务核心能力的跨国财务战略目标构建.......................57 三、基于跨国财务战略目标的跨国财务战略实施规划构建...............58 第四章 云南 YD 建筑有限公司跨国财务战略选择.............................61 第一节 公司投资战略选择...................... 61 一、投资因素考量......................61 二、投资方式选择......................61 三、投资项目选择......................62 第二节 公司筹资战略选择...................... 63 一、筹资因素考量......................63目 录 VIII 二、筹资渠道选择......................65 第三节 公司收益分配战略选择.............. 67 一、收益分配因素考量..............67 二、收益分配方式选择..............68 第五章 云南 YD 建筑有限公司跨国财务战略实施规划.....................69 第一节 投资战略实施规划...................... 69 一、投资项目实施进度规划......69 二、投资项目实施收益规划......70 三、投资项目实施成本规划......70 四、投资战略实施总规划..........71 第二节 筹资战略实施规划...................... 72 一、筹资战略实施规划的相关变量.........................72 二、筹资资金缺口判断..............73 三、筹资战略实施规划..............74 第三节 收益分配战略实施规划.............. 74 第六章 云南 YD 建筑有限公司跨国财务战略保障.............................76 第一节 跨国财务战略保障问题分析...... 76 第二节 跨国财务战略实施保障措施...... 77 一、完善跨国财务战略监督体系.............................77 二、规范跨国财务战略实施过程 ...........................78 三、加强跨国财务战略人才队伍建设及人员素质培养.......................79 第七章 结论与展望.................81