Research The Degree That Working Capital Management Impact The Enterprise Performance

The Power Industry goes first on the basis of the improvement of the economy. Power industry plays the basic role in the instruction of the economy. In the development process, when Enterprises work hard on the sales performance, the importance of working capital management must be highly valued, in particular for those who have seasonal fluctuations or circulation. Working capital management is very important, who can avoid temporary work stiffly and fall into financial difficulties. Therefore, the listed company working capital management research has an important theoretical and practical significance, who can stand for the whole powering industry.Firstly, on the basis of analyzing working capital management concepts, the article analyzes features, concepts, structural management, risk management, allocation of management of working capital.Secondly, the article chooses 47listed Power companies as analysis samples. Through the Linear regression multiple Eviews statistical analysis software, the article analyzes the relations between working capital management and organizational performance of year 2005 to 2009 by using empirical research. The results of empirical research as follows:current assets/total assets has negative relations with operational performance; current liabilities/total liabilities has positive relations with enterprises performance; Liquidity ratio has positive relations with operational performance; cash transition period has negative relations with enterprises performance.Then, the article analyzes the real situation of listed power industry on the basis of empirical results and points out the reason that the relations between listed power companies and organizational performance is not very clear; the current electricity demand effect far outweigh its financial management effect; the current policy of the power industry is far outweigh its financial management for corporate performance. But as china's market economy reforms of the power industry gradually standardized and matured, the future operation management of funds for the power industry will become more apparently. As the importance of power companies, it is very important for us to give some suggestions for the improvement of the operational performances of our power companies.At last, this article give some useful advise and suggestions for the improvement of our power companies; Improving corporate governance structure; Optimize the operating capital structure of the company; Full use lever effect of long-term liabilities and reduce the financial risk; Improving the quality of listed companies through merging and restructuring.