The Influencing Factors Analysis Of Management Efficiency About Real Estate Listed Companies’ Working Capital

With the development of our country’s economy rapidly and the level of opening to the outside world deepening,China’s real estate industry booming,gradually become a pillar industry of our country’s economic growth.Front of the huge development potential,however,is faced with a series of challenges,how in the fierce competitive environment at home and abroad have the core competitiveness,achieve the goal of enterprise financial management as a whole,is a key problem facing the real estate enterprises.Working capital management is an important part of the enterprise financial management activities,so the efficiency of the management directly affects the enterprise financial goals realization.At present,the research on working capital management performance of the latest research results such as Wang Zhuquan put forward based on the sources of working capital management performance evaluation system.Working capital to the system be classified into business operations of financial management of working capital and working capital,working capital and business activities are divided into three channels procurement,production,marketing.Real estate enterprise belongs typical capital-intensive industry,has a large footprint,their working capital turnover period is long,strong industry relevance,affected by the policy and regional big characteristics,so based on the viewpoint of channels for real estate enterprises working capital management performance measure is more appropriate.In this paper,according to previous research experience combined theoretical analysis and empirical research method,to our country real estate listed companies as the research object.This paper adopts the method of combining theoretical analysis and empirical analysis,to our country real estate listed companies as the research object,first embarks from the theoretical level,combining with the particularity of real estate enterprise working capital turnover process and the risk of working capital management,analysis the influence factors of the real estate listed companies working capital turnover efficiency and put forward the assumption,in working capital turnover period(by)is as explained variable,inventory turnover,deferred revenue turnover,accounts receivable turnover ratio,liquidity ratio and cash ratio as explanatory variables,and then build a model,using the data to verify the hypothesis.The empirical test and analysis results show that the inventory turnover ratio and current ratio and cash ratio has significant influence on working capital management efficiency,accounts receivable turnover and deferred revenue turnover no significant impact on working capital management efficiency.This paper discusses the influence of various factors on the working capital and inspection,to reveal the changes of various factors and the relationship between working capital management efficiency,to analyze its reasons,and according to the research conclusion and the theory of channels,to establish and improve the operation of the real estate industry capital operation recommendations to management mechanism,improve the level of real estate industry working capital management in order to achieve the purpose of,and lay a foundation for the realization of the enterprise overall financial goals.