上市公司营运资金管理和企业绩效的相关性研究

发布时间：2017-12-27 14:09

本文关键词：上市公司营运资金管理和企业绩效的相关性研究　出处：《山西财经大学》2016年硕士论文　论文类型：学位论文

【摘要】：随着计划经济向市场经济的转型,企业发展的目标也发生了翻天覆地的变化,由原先的市场竞争转化为内部管理的提升,其中最为突出的是营运资金的管理。营运资金管理在现代企业管理中占据着非常重要的地位,营运资金管理的效果影响着企业的运行方式和未来发展能力,关系到企业的成败,很有必要强化营运资金的管理,为此,财务管理人员每天花费在上面的时间至少为70%,在企业管理中也取得了明显的效果。在很多营运资金管理和企业绩效的相关研究文献中,研究结果表明营运资金与经营绩效有相关关系,而在这些研究中,营运资金代表指标局限于单个项目和现金周期等几个固定的指标,很少有基于渠道的研究指标。从其渠道方面研究营运资金与企业绩效的关系,能够完善理论界营运资金研究的不足,同时也为当今企业的营运资金的管理提供新的思路。于是,本文在基于渠道研究的基础上,增添了自己的见解,把经营活动营运资金单独划分出来,研究它与企业绩效的相关性,找出最适合当代企业的营运资金管理方法。通过大量阅读有关营运资金的文献和财务管理教材,收集了一些关于有关管理理论和实证研究方法的资料,提供了本文的研究思路和方法。本文选用的资料是以2010-2014年的沪深两市A股1686家制造业上市公司的财务和非财务数据作为研究样本,根据样本数据,对变量进行了描述性统计分析、Pearson相关分析和线性回归分析等实证分析。该篇文章总体分为五个部分,从一到五部分,分别是绪论章节、相关的基础理论、研究的方法和设计、实证分析和本篇文章的结论和展望章节,从文献-理论-实证到得出研究结论的研究过程,很好的诠释了本文研究的整个进程。本文在企业绩效指标体系的构建上加入了自己想法,增加了几个能够反映企业绩效的变量,构建综合性较强的综合绩效指标。将综合绩效指标作为被解释变量在实证分析研究与经营活动营运资金的相关关系,同时结合文献分析和理论分析,得出经营活动营运资金周转期与企业绩效呈负相关关系,据此寻找出适合我国企业发展状况的经营活动营运资金管理方法。
[Abstract]:With the transformation from planned economy to market economy, the goal of enterprise development has also undergone tremendous changes. From the original market competition to the upgrading of internal management, the most prominent one is the management of working capital. Working capital management plays a very important role in the modern enterprise management, working capital management influences the enterprise operation mode and future development ability, related to the success or failure of the enterprise, it is necessary to strengthen the management of working capital, therefore, financial management fees on time each day at least 70%, obviously the results have been achieved in the enterprise management. In the literature a lot of working capital management and corporate performance, the results of the study show that working capital is related to business performance, but in these studies, working capital indicators are limited to a few individual items and cash cycle fixed index index based on few channels. Studying the relationship between working capital and enterprise performance from its channels can improve the shortage of working capital research in theoretical circles, and also provide new ideas for the management of working capital in today's enterprises. Therefore, based on the channel research, this paper adds its own view, and divides the business operation fund separately, and studies its correlation with enterprise performance, and finds out the most suitable method for working capital management of contemporary enterprises. Through reading a lot of literature about working capital and financial management textbooks, we collected some information about management theory and empirical research methods, and provided the research train of thought and method in this paper. The information is based on 2010-2014 in Shanghai and Shenzhen two A shares of 1686 listed companies in the manufacturing sector of the financial and non-financial data as the research sample, based on the sample data, the variables are descriptive statistical analysis, empirical analysis of Pearson correlation analysis and linear regression analysis. This article is divided into five parts, from one to five parts, namely introduction chapter, the related basic theory and methods of research and design, empirical analysis and conclusion of this article and the outlook section, the literature research process from theory to empirical conclusions, a good interpretation of the paper study on the whole process. This paper adds some ideas to the construction of enterprise performance index system, adds several variables that can reflect the performance of enterprises, and constructs a comprehensive comprehensive performance index. The comprehensive performance indicators as explanatory variables related to the analysis and research of the business activities of the working capital in empirical analysis, combined with literature analysis and theoretical analysis, the business activities of the working capital turnover period and enterprise performance is a negative correlation between working capital management methods to find out the development status for Chinese enterprises.
【学位授予单位】：山西财经大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F275

【参考文献】