中国石油企业集团资金管理效益模型研究

中石油、中石化、中海油等大型石油企业集团国内外业务的资金用量均十分巨大，科学有效地调配使用资金所产生的效益将十分可观。文章借用大型企业集团所采用的公司资金运作的分析思路，对此进行了研究。为提高财务公司日归集资金的使用效率，设计了静态资金运营规划模型，可用之对日归集资金的调配、使用的效率效果进行预测；为有效进行财务公司资产负债结构调整效率效果预测，以商业银行行为方式模型为基础，对相关参数做出调整，设计了动态资金运营规划模型。该模型通过对财务公司总资产、收益性资产与总资产的比例以及集团成员企业存款与总资产的比例三类变量的选择，达到预期利润最大化的目标。通过对内部资金转移价格的设定，达到优化内部资金预期使用效率的目的，以辅助管理者进行资金决策。

THE MODEL APPROACHES FOR CAPITAL MANAGEMENT EFFECTIVENESS OF PETROLEUM CORPORATIONS IN CHINA

The state-owned large oil companies such as CNPC, SINOPEC and CNOOC are dealing with huge amount of capital for their domestic and oversee business everyday. To make effective allocations of the capital for the whole corporation by means of scientific quantitative models will certainly lead to large amount of capital profit. A model approach was made in this paper according to the analysis methods of the capital operation and allocation of those large-scale corporations. For improving the utilization efficiency of the daily accumulated capital, a static model has been programmed for rational allocation of the capital and for prediction of the efficiency and effectiveness of the capital utilization of the financial company of a corporation. Based on the behavior models of the commercial banks, a dynamic model for capital operation plans has been developed. By applying the dynamic model, the objective for the expected profit maximization can be reached by rational selection among the total asset, the ratio of the benefit asset to the total asset, and the ratio of the deposit of the sub-companies to the total asset. The effective utilization of the capital can be realized by means of pricing the capital transaction. In this way, a company's executives will surely get good assistance in capital management in virtue of these two models.