供應(yīng)鏈視角下家電行業(yè)上市公司營運(yùn)資金績效評價研究
發(fā)布時間：2018-09-05 18:58
【摘要】：營運(yùn)資金被稱之為公司“流動的血脈”。家電行業(yè)作為與國民生活密切相關(guān)的傳統(tǒng)行業(yè),在經(jīng)歷了近30年的快速發(fā)展之后,受宏觀經(jīng)濟(jì)增速放緩和國家政策調(diào)控的影響,行業(yè)內(nèi)部產(chǎn)品功能差異度降低品牌聚集度高,利潤空間被不斷壓縮,行業(yè)內(nèi)部競爭加劇使得公司的利潤增長更多的需要通過搶奪市場份額來實(shí)現(xiàn)。公司營運(yùn)資金績效水平普遍偏低,傳統(tǒng)的營運(yùn)資金管理方式和績效考核依據(jù)已無法滿足現(xiàn)代化公司的管理需求并且嚴(yán)重阻礙了公司的發(fā)展。將供應(yīng)鏈的相關(guān)思想引入針對家電公司的營運(yùn)資金管理中,來評價公司的營運(yùn)資金績效,不僅打破了傳統(tǒng)的營運(yùn)資金管理思維的壁壘,對于幫助公司應(yīng)對家電行業(yè)了解自身營運(yùn)資金績效水平,應(yīng)對愈發(fā)激烈外部競爭環(huán)境也具有非常重要的意義和價值。本文以國內(nèi)外文獻(xiàn)研究為基礎(chǔ),運(yùn)用理論分析、行業(yè)研究和案例研究相結(jié)合的方法,將我國家電行業(yè)上市公司的營運(yùn)資金績效評價納入供應(yīng)鏈的視角進(jìn)行研究。本文的理論分析在著重探究了供應(yīng)鏈和營運(yùn)資金之間的內(nèi)在聯(lián)系的基礎(chǔ)上,考察了供應(yīng)鏈視角下的營運(yùn)資金內(nèi)涵、管理特點(diǎn)以及績效評價方法。行業(yè)研究方面,選取我國2013-2015年滬深兩市家電行業(yè)A股上市公司財務(wù)報告數(shù)據(jù)作為研究樣本,基于供應(yīng)鏈的視角從業(yè)務(wù)層面對營運(yùn)資金的管理活動進(jìn)行了分解,從流動性、風(fēng)險性以及協(xié)調(diào)性三個維度設(shè)計了評價指標(biāo),利用熵值法對所有評價指標(biāo)的權(quán)重進(jìn)行了賦權(quán),推導(dǎo)出各上市公司的營運(yùn)資金績效的排名情況,并由此分析了績效排名結(jié)果。在案例分析中,本文以萬和電氣為例進(jìn)行分析。將萬和電氣的營運(yùn)資金績效和第四章中所計算出的家電行業(yè)平均績效水平進(jìn)行對比,結(jié)合公司的業(yè)務(wù)流程剖析該公司在行業(yè)中所處的營運(yùn)資金績效水平,提出相應(yīng)的優(yōu)化建議。
[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.
【學(xué)位授予單位】：南京航空航天大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：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.
【學(xué)位授予單位】：南京航空航天大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F426.6;F406.7
【參考文獻(xiàn)】
相關(guān)期刊論文 前10條
1 周利芬;;價值鏈視角的現(xiàn)代物流營運(yùn)資金管理分析[J];會計之友;2016年11期
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