Working Capital Management Evaluation Model Of Transportation Industry Listed Company

The company scale of transportation industry has gradually enlarged, thebusiness scope is continually expanding, the proportion of working capital isincreasing over recent years, working capital management efficiency is increasinglybecoming an important measure of the quality of the business. Establish workingcapital management evaluation model can reveal the level of transportation enterpriseworking capital management, optimize the management of working capitalmanagement, improve working capital internal structure and the competitiveness ofthe industry.Firstly, this thesis expounded transportation industry characteristics, workingcapital management status of transportation industry listed companies and workingcapital management theory, the theory of supply chain, channel theory. Secondly,Secondly, analysis the advantages and disadvantages of traditional working capitalmanagement evaluation index based on evaluation of the elements, establishworking capital management evaluation index system based on the theory of channels,build working capital management evaluation model transportation industry listedcompany. According to the selected evaluation index, choose listed public companiesfrom2007to2012of road transportation industry in A-share market as a sample, using KMO and Bartlett’s Test to test the feasibility of principal component analysis,after adoption, using SPSS19.0software, using principal component analysis, usingthe significant test screening, initial research variables, dimensionality reductionthrough a plurality of a certain relation between the variables, a few comprehensiveindex, using eigenvalue greater than1and the cumulative contribution rate in about80%of the both two methods to select the main component to build our transportationbusiness working capital evaluation model, and to test and analyze the workingcapital management evaluation model of transportation industry listed companies.Finally, propose rationalization measures to improve working capital managementperformance of transportation industry enterprise, by improving working capitalstructure, strengthening recovery efforts of accounts receivable, constructing a newindex system of working capital management, strengthening supply chainmanagement, to improve competitiveness and business performance levels oftransportation enterprise to provide certain theoretical and practical reference for thetransportation enterprise managers to improve working capital management performance.According to the Research results, the Principal component analysis model haspractical value to evaluate working capital management of transportation industrylisted company; the extracted five principal components covers the vast informationof indexes, largely reflects the working capital management condition oftransportation industry listed company; among the five main components, solvencyindicators and operational capability indicators has a largest proportion, indexesestablished based channels of theory has a significant role in the model.