上市公司营运资本管理政策与企业业绩相关性研究毕业论文.docVIP

毕业论文 （2010届） 上市公司营运资本管理政策与企业业绩相关性研究 摘 要 良好的营运资本管理是公司得以生存的必要条件，营运资本政策是营运资本管理的重要内容，营运资本管理目标的顺利实现，同时也对企业经营业绩产生重要影响。合理确定企业营运资本管理政策的重要意义还在于，追求营运资本最大利用水平的同时，又要保证流动资产的必要存量，以保持企业良好的偿债能力，将企业经营过程中的财务风险降低到最低水平。因此，对酿酒行业营运资金管理政策与企业业绩的研究有着重要的意义。 本文通过对酿酒行业上市公司2007-2009年数据为样本，通过描述性分析的方法揭示酿酒行业上市公司营运资本管理政策现状及原因。同时，分别采用相关性分析和典型案例分析的方法，对营运资本管理政策与企业业绩相关性进行实证研究，得出两者之间呈正相关关系。最后提出我国酿酒行业上市公司营运资本管理政策的三个改进意见，分别是树立正确的营运资本控制理念，强化企业内部管理；正常确定资金需求量，合理确定营运资本管理政策；提高营运资本的周转效率，特别是控制存货的周转。 关键词：酿酒行业；营运资本；管理政策；企业业绩Abstract Good working capital management is the company survival of the necessary conditions for working capital policy is the important content of working capital management, Working capital management objectives to ensure the smooth implementation, but also on an important impact on business performance. In order to determine reasonable working capital enterprise policy significance is that in the pursuit of working capital biggest use the same standards, and to ensure the liquidity necessary stock, in order to maintain the solvency, enterprise good will in the process of enterprise management of financial risk reduction to a minimum level. Therefore, in liquor-making industry operating funds management policy and enterprise performance is of great significance to the study. This paper selected Part of liquor-making industry listed company’s data the years 2007-2009 for samples, use descriptive analysis method reveals liquor-making industry working capital policies status and reason. At the same time, we adopt the correlation analysis and typical case analysis, working capital management policy and enterprise performance correlation for empirical research, both are positively related; Finally, listed companies in liquor-making industry, working capital management policies of the three improvements, namely to establish a correct concept of working capital controls, strengthen internal management; normal to determine the demand for funds, set reasonable working capital management policy;