本文關(guān)鍵詞：建筑業(yè)營運資金管理與公司績效的實證研究　出處：《天津財經(jīng)大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

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【摘要】：建筑行業(yè)是我國國民經(jīng)濟的支柱產(chǎn)業(yè),在我國國民經(jīng)濟中占據(jù)著舉足輕重的地位。在實踐調(diào)查中,營運資金管理在企業(yè)日常管理中的作用不容小覷,而鑒于建筑業(yè)的營運資金管理存在著各種各樣的問題,如應(yīng)收賬款回收周期長、流動資金不足等,而這些問題很有可能使得企業(yè)陷入財務(wù)困境之中,所以對建筑業(yè)營運資金管理進行研究有著非常重要的意義。借助實證分析方法,對建筑業(yè)營運資金管理與公司績效的關(guān)系進行實證研究,以期在實證研究結(jié)果的基礎(chǔ)上,為提高建筑業(yè)營運資金管理水平提出建議,并進而提高公司績效。主要工作內(nèi)容如下： 首先,介紹營運資金管理的相關(guān)理論基礎(chǔ),對營運資金的概念、構(gòu)成、作用、政策等問題進行了闡述。 其次,對建筑業(yè)的概況進行整體分析,并在上述營運資金管理的理論基礎(chǔ)上,分析了我國建筑業(yè)營運資金管理的現(xiàn)狀特點。 再次,選取建筑業(yè)2007年—2011年在滬深市A股上市的公司的數(shù)據(jù)為研究對象,借助Eviews7.0統(tǒng)計軟件對數(shù)據(jù)進行多元線性回歸,對建筑業(yè)營運資金管理與公司績效的關(guān)系進行了實證研究。研究結(jié)論是：1.我國建筑業(yè)企業(yè)的流動資產(chǎn)比率與公司的績效呈顯著的負相關(guān)關(guān)系,我國建筑業(yè)企業(yè)過高的流動資產(chǎn)比率,說明我國建筑業(yè)企業(yè)資金閑置,盈利性不足；流動負債比率與公司績效呈顯著正相關(guān)關(guān)系,近兩年逐步增加的流動負債比率,說明我國建筑企業(yè)充分享受利息抵稅的好處,降低成本,進而提高公司績效；流動比率與公司績效呈顯著負相關(guān)關(guān)系,我國建筑企業(yè)流動比率越高,說明閑置的資金得不到投資機會,影響公司績效。2.應(yīng)收賬款周轉(zhuǎn)率與公司績效正相關(guān)并不顯著,我國建筑產(chǎn)品生產(chǎn)周期長,在大量存在賒銷的情況下,有些應(yīng)收賬款不能及時收回,會對公司績效造成不良影響；存貨周轉(zhuǎn)率與公司績效呈顯著負相關(guān),此結(jié)論是由于我國建筑企業(yè)的存貨管理環(huán)節(jié)較為薄弱,采購貨物有很大的盲目性,庫存量大,這種情況非常普遍；應(yīng)付賬款周轉(zhuǎn)率與公司績效成正相關(guān)關(guān)系,并不顯著,此結(jié)論源于我國企業(yè)普遍存在著拖欠工程款的現(xiàn)象,并非單是因為享受商業(yè)信用。 最后,提出改善我國建筑業(yè)上市公司營運資金管理水平的建議。
[Abstract]:The construction industry is a pillar industry of China's national economy, plays an important role in our national economy. In the investigation, the role of working capital management in the daily management of enterprises should not be underestimated, and working capital management in view of the construction industry there are a variety of problems, such as accounts receivable recovery cycle is long. The lack of liquidity, and these problems are likely to make the enterprise into financial distress, so the construction industry working capital management research has very important significance. Through empirical analysis method, the relationship between construction funds management and the corporate performance empirical research, which based on the results of empirical research that suggestion is put forward to improve the construction industry working capital management level, improve company performance. The main contents are as follows:
First, it introduces the theoretical basis of working capital management, and expounds the concept, composition, function and policy of working capital.
Secondly, the overall situation of the construction industry is analyzed. Based on the theory of the above working capital management, the status quo of working capital management in China's construction industry is analyzed.
Again, the selection of building industry in 2007 to 2011 in Shanghai and Shenzhen A shares listed company data as the research object, using the data of multiple linear regression statistical software Eviews7.0, the relationship of the construction industry, working capital management and performance of the empirical research. The research conclusion is: there is a significant negative relationship between liquidity ratio and company 1. of China's construction enterprises in the performance of China's construction industry enterprises of high liquidity ratio, shows that China's construction enterprises idle funds, lack of profitability; current liabilities ratio and corporate performance is a significant positive correlation, nearly two years to gradually increase the current debt ratio, that China's construction enterprises to fully enjoy the interest to tax benefits, reduce costs, and improve the performance of the company; there was a significant negative correlation between the liquidity ratio and corporate performance, the liquidity ratio of construction enterprises in China is high, the idle The funds are not investment opportunities, affect the company's performance.2. accounts receivable turnover rate is positively correlated with corporate performance is not significant, China's construction products long production cycle, in the presence of a large number of credit conditions, some accounts receivable can not be recovered, will cause adverse effects on the performance of the company; was negatively related to inventory turnover and the company's performance, this conclusion is due to inventory management of construction enterprises in China is relatively weak, the procurement of goods has great blindness, a large amount of inventory, this situation is very common; the accounts payable turnover and corporate performance has a positive correlation is not significant, this conclusion is based on Chinese enterprises generally exist in the the project is not a single phenomenon, because they enjoy the commercial credit.
Finally, some suggestions are put forward to improve the management level of the operating capital of the listed companies in China's construction industry.

【學(xué)位授予單位】：天津財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F426.92

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