Research On Working Capital Management Of Chinese Gem Listed Companies

Since the 30 s of last century,working capital has been concerned by financial practitioners.The so-called working capital management refers to the management of the current liabilities and current assets of the enterprise.If a company wants to maintain its normal operation and operation,its working capital must be abundant.By working capital management,the enterprise can effectively improve enterprise value,risk management level and operation capacity.It occupies the central position of the enterprise financial management system.Compared with other industries,the research on working capital of domestic GEM listed companies started late,so far,no mature research system has been formed.This paper starting from the actual situation,make a systematic research on the status of working capital management of GEM listed companies and its impact on the business development,and to understand the company's current working capital management in the existing problems,in order to improve and optimize the working capital management system,supporting the development of the system and its future development to provide some constructive countermeasures and suggestions to further improve the comprehensive management level of enterprises.The empirical research method is adopted in this paper,finally selected sample data in this study during the period from 2013 to 2016 as the GEM listed companies related data,and through regression analysis under the influence of working capital management policy and operational efficiency of the enterprise value management to make a systematic study.It is found that there are links between enterprise value and many factors,including: working capital efficiency management policy,cash cycle,inventory cycle,accounts payable turnover,accounts receivable turnover period and so on.Finally,according to the conclusions obtained from regression analysis,we put forward effective countermeasures and suggestions to further improve the working capital management of enterprises,so this article has certain research value and significancet.