产业链视角的农业企业营运资金融资结构分析

发布时间：2018-02-11 06:17

本文关键词： 农业龙头企业营运资金产业链融资结构　出处：《会计之友》2017年11期 　论文类型：期刊论文

【摘要】：营运资金融资结构指配置于流动资产上的各类资金的比重关系,研究营运资金融资结构对于企业合理配置资金、把控偿债能力、提高营运资金管理效率具有重要意义。从产业链视角研究农业龙头企业营运资金融资结构,有助于认识农业龙头企业在产业链条中的地位,揭示其资金配置的倾向性问题。文章通过对上市农业产业化国家重点龙头企业2000—2014年15年共730公司年的数据进行考察,发现农业龙头企业总体处于被上下游占用资金的角色,对上下游资金的依存度集中于轻度和中度,且产业链下游环节的依存度高于上游环节,部分农业龙头企业上下游融资存在双向弱势;通过相关性分析验证了营运资金各融资渠道间的替代关系,通过回归分析验证了农业龙头企业上市初期的长期资金融资偏好。
[Abstract]:Working capital financing structure refers to the configuration in liquid assets on the various types of funds proportion relationship, research financing structure of working capital for the enterprise to control the rational allocation of funds, solvency, has important significance in improving the efficiency of working capital management. From the perspective of agricultural leading enterprises working capital financing structure of industrial chain, help to understand the status of agricultural leading enterprises in in the industry chain, reveals the tendency of the problem of capital allocation. Based on the list of national key agricultural industrialization leading enterprises 2000 - 15 years, in 2014 a total of 730 years of data investigation, found that the leading agricultural enterprises in the overall funds be on the downstream role of upstream and downstream capital dependence on light and moderate, dependency and the industry chain downstream link is higher than the upstream, downstream part of agricultural leading enterprises financing through the relevant weak two-way; The analysis validates the substitution relationship between the financing channels of working capital, and verifies the long-term financing preference of the leading agricultural enterprises through the regression analysis.

【作者单位】：中国农垦经济发展中心;北京农学院经济管理学院;
【基金】：北京市属高等学校高层次人才引进与培养计划项目(CIT&TCD201304094)
【分类号】：F302.6;F324

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