The Working Capital Management Of Listing Corporation Performance

As the importance of working capital management is more and more get the enterprise value, now scholars of the research is also increasing. Level of working capital management efficiency to a certain extent, has a deep effect on operating performance of enterprises, the financial management of the enterprise also pay more and more attention to enterprise’s working capital management policy, this paper adopts the concept of narrow sense for working capital or net working capital, so this article research content including current assets management also includes the current liabilities.This article is to select the environmental protection industry listed companies as research samples, because on the one hand, the environmental protection industry is a sunrise industry has developed rapidly in recent years, in the third plenary sess ion of the 18, highlights for the determination of the ecological environment construction in our country, to fully the development of the perfect legal laws and regulations in C hina to promote the construction of ecological security. A series of policy has brought the enormous impetus to the development of environmental protection industry, on the other hand in the management of working capital and corporate performance to the industry involves less research scope, through the study of this article can also fill the vacancy.This paper adopted the method of empirical analysis on the relationship between the working capital management and enterprise performance is studied: on the one hand, through the analysis of the descriptive statistics for each index to reflect the environmental protection for nearly 10 years of working capital management of listed companies management level and its working capital policy choice, on the other hand, through the establishment of regression analysis model of working capital management and enterprise performance, use accounts receivable turnover days, the accounts payable turnover days, the inventory turnover days, current assets accounted for the proportion of total assets and current liabilities to total assets ratio of index on behalf of the enterprise working capital management efficiency, such as the return on assets to reflect the business performance of the enterprise, through SPSS analysis and calculation to further identify which factors have a significant impact to the enterprise management performance.Through the analysis in this paper, finally draw the conclusion: the industry inventory turnover days have a weak negative correlation relationship with return on capital, enterprise inventory turnover days, the less, e nterprise’s business performance is better; The proportion of liquid assets to total assets and return on capital have significant negative correlation, illustrate the current assets of an enterprise ownership levels influence on enterprise performance is in the opposite direction; The proportion of current liabilities to total assets and return on capital have significant positive correlation. According to the results of the empirical analysis in this paper, some for our country’s environmental protection industry improve the efficiency of working capital management and corporate performance of listed company’s advice, hope to be able to in the work of the practice of working capital management has some practical significance.