A Study Of The Effect Of Agricultural Listed Companies’ Working Capital Management On Business Performance

As we all know,our country is a large agricultural country, agricultural has a basic position in economic and social development. On the one hand, our country has a large number of agricultural population, agricultural development is the foundation of social stability;on the other hand agriculture provides the basis for other industries, the progress of agriculture also benefit to the progress of the whole national economy.In recent years, domestic and international food prices continue to rise, led the related downstream food also have high prices, the CPI that is closely to living begin to rise from 2007, and the agricultural listed companies,stronger than the ordinary agricultural enterprises both in development ability and profit ability, is a representative of the advanced agricultural productivity in our country.Under such a background agricultural listed companies as suppliers, its level of working capital management and performance is directly related to the people’s daily lives,the development level of agricultural industry in China,and the stability in our country. What’s the relationship between the agricultural listed companies working capital management level and the level of corporate performance? How to improve the performance of agricultural listed companies through the analysis of operational indicators? In this paper, using a combination of theoretical analysis and empirical analysis to the current situation of the agricultural listed companies, and use the regression analysis and factor analysis method in SPSS software, through the selection report data of 33 agricultural listed companies from 2009 to 2013,to make a description between the agricultural listed companies working capital management and performance, and through the factor analysis method to comprehensive evaluation of sample company’s performance,and finally based on analysis of data gives some specific suggestions on the development of agricultural listed companies.This paper consists of five chapters:the first chapter mainly reviewed about the major review of domestic and foreign research on working capital management, clarified the background of our research and significance, illustrated the research method and expected innovation.The second chapter introduced the related theory of working capital management, contained the concept, composition and characteristics of working capital. The concept and type of assets structure of listed companies; And summarized the relevant theories of enterprise performance evaluation system, includes the concept and the content of the performance evaluation system of ROE.The third chapter described the current situation of the agricultural listed companies in our country firstly, and then gave the related statistical description, presented the characteristics of agricultural listed companies working capital management in our country.The fourth chapter is mainly an empirical analysis. Mainly used the report data of the 33 listed agricultural companies, and standardized the data. Using regression analysis to analyze the various financial indicators and the correlation of agriculture listed company performance; Using factor analysis to find working capital related indicators hidden or interacted in common factors,so as to evaluate the level of working capital management of sample companies more fully and accurately, in the end, ranked the sample companies by factor scores.In the fifth chapter, gave some targeted suggestions to promote the development of agricultural listed companies according to the regression analysis and factor analysis results,and from their own level and at the government level two aspects.