供应链视角下家电行业上市公司营运资金绩效评价研究
发布时间：2018-09-05 18:58
【摘要】：营运资金被称之为公司“流动的血脉”。家电行业作为与国民生活密切相关的传统行业,在经历了近30年的快速发展之后,受宏观经济增速放缓和国家政策调控的影响,行业内部产品功能差异度降低品牌聚集度高,利润空间被不断压缩,行业内部竞争加剧使得公司的利润增长更多的需要通过抢夺市场份额来实现。公司营运资金绩效水平普遍偏低,传统的营运资金管理方式和绩效考核依据已无法满足现代化公司的管理需求并且严重阻碍了公司的发展。将供应链的相关思想引入针对家电公司的营运资金管理中,来评价公司的营运资金绩效,不仅打破了传统的营运资金管理思维的壁垒,对于帮助公司应对家电行业了解自身营运资金绩效水平,应对愈发激烈外部竞争环境也具有非常重要的意义和价值。本文以国内外文献研究为基础,运用理论分析、行业研究和案例研究相结合的方法,将我国家电行业上市公司的营运资金绩效评价纳入供应链的视角进行研究。本文的理论分析在着重探究了供应链和营运资金之间的内在联系的基础上,考察了供应链视角下的营运资金内涵、管理特点以及绩效评价方法。行业研究方面,选取我国2013-2015年沪深两市家电行业A股上市公司财务报告数据作为研究样本,基于供应链的视角从业务层面对营运资金的管理活动进行了分解,从流动性、风险性以及协调性三个维度设计了评价指标,利用熵值法对所有评价指标的权重进行了赋权,推导出各上市公司的营运资金绩效的排名情况,并由此分析了绩效排名结果。在案例分析中,本文以万和电气为例进行分析。将万和电气的营运资金绩效和第四章中所计算出的家电行业平均绩效水平进行对比,结合公司的业务流程剖析该公司在行业中所处的营运资金绩效水平,提出相应的优化建议。
[Abstract]:Working capital is known as the "blood of the company". The household appliance industry, as a traditional industry closely related to national life, has experienced rapid development for nearly 30 years. Under the influence of the slowing down of macroeconomic growth rate and the regulation of national policies, the functional difference of products within the industry reduces the degree of brand aggregation. The profit space is being compressed continuously, the industry internal competition intensifies causes the company's profit growth to need by grabs the market share to realize. The performance level of company working capital is generally low, the traditional working capital management method and performance evaluation basis can not meet the management needs of modern companies and seriously hinder the development of the company. Introducing the supply chain theory into the working capital management of household appliance companies to evaluate the performance of the working capital not only breaks the barriers of the traditional thinking of working capital management. It is also of great significance and value to help companies to understand the performance level of their own working capital and to cope with the increasingly fierce external competition environment. Based on the domestic and foreign literature research, this paper applies the method of theoretical analysis, industry research and case study to study the performance evaluation of working capital of the listed companies in China's household appliances industry from the perspective of supply chain. Based on the theoretical analysis of the internal relationship between supply chain and working capital, the connotation, management characteristics and performance evaluation method of working capital in the perspective of supply chain are investigated. In terms of industry research, the financial report data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2015 are selected as the research samples. Based on the perspective of supply chain, the management activities of working capital are decomposed from the business level and liquidity. The evaluation index is designed in three dimensions of risk and coordination. The weight of all evaluation indexes is weighted by entropy method, the ranking of working capital performance of listed companies is deduced, and the result of performance ranking is analyzed. In the case study, this paper takes Wanhe Electric as an example to analyze. This paper compares the working capital performance of Wanhe Electric with the average performance level of household appliance industry calculated in Chapter 4, analyzes the working capital performance level of the company in the industry combined with the business process of the company, and puts forward corresponding optimization suggestions.
【学位授予单位】：南京航空航天大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.6;F406.7
[Abstract]:Working capital is known as the "blood of the company". The household appliance industry, as a traditional industry closely related to national life, has experienced rapid development for nearly 30 years. Under the influence of the slowing down of macroeconomic growth rate and the regulation of national policies, the functional difference of products within the industry reduces the degree of brand aggregation. The profit space is being compressed continuously, the industry internal competition intensifies causes the company's profit growth to need by grabs the market share to realize. The performance level of company working capital is generally low, the traditional working capital management method and performance evaluation basis can not meet the management needs of modern companies and seriously hinder the development of the company. Introducing the supply chain theory into the working capital management of household appliance companies to evaluate the performance of the working capital not only breaks the barriers of the traditional thinking of working capital management. It is also of great significance and value to help companies to understand the performance level of their own working capital and to cope with the increasingly fierce external competition environment. Based on the domestic and foreign literature research, this paper applies the method of theoretical analysis, industry research and case study to study the performance evaluation of working capital of the listed companies in China's household appliances industry from the perspective of supply chain. Based on the theoretical analysis of the internal relationship between supply chain and working capital, the connotation, management characteristics and performance evaluation method of working capital in the perspective of supply chain are investigated. In terms of industry research, the financial report data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2015 are selected as the research samples. Based on the perspective of supply chain, the management activities of working capital are decomposed from the business level and liquidity. The evaluation index is designed in three dimensions of risk and coordination. The weight of all evaluation indexes is weighted by entropy method, the ranking of working capital performance of listed companies is deduced, and the result of performance ranking is analyzed. In the case study, this paper takes Wanhe Electric as an example to analyze. This paper compares the working capital performance of Wanhe Electric with the average performance level of household appliance industry calculated in Chapter 4, analyzes the working capital performance level of the company in the industry combined with the business process of the company, and puts forward corresponding optimization suggestions.
【学位授予单位】：南京航空航天大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.6;F406.7
【参考文献】
相关期刊论文 前10条
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