Research On Enterprise Working Capital Management From The Perspective Of Stakeholders

As a listed waterproof building materials company,Dong Fang Yuhong has become a leader in the waterproof building materials industry after years of development.With the expansion of Dong Fang Yuhong’s scale,the accounts receivable are also "rolling bigger and bigger";with the introduction of a number of energy-saving and environmental protection policies,the rise in international crude oil prices and the tightening of policies in the downstream real estate industry,Dong Fang Yuhong is facing financial difficulties.The pressure is also increasing.Working capital is the basis for ensuring the normal operation of an enterprise and occupies an extremely important position in the operation of an enterprise.At present,most of the research on enterprise working capital management is analyzed from the perspective of supply chain and channel relationship,and like supplier and customer relationship,shareholders,creditors and other groups also play an important role in the management of working capital.An enterprise is a community of interests composed of multiple capitals invested by various stakeholders.The traditional working capital management model cannot fully and specifically reflect the impact of enterprise stakeholders on working capital.Therefore,introduce stakeholders into working capital management,study the working capital operation from the perspective of each stakeholder,and optimize working capital management on the basis of comprehensive analysis.In this way,the understanding of stakeholders can be strengthened,and in-depth research on existing working capital management can also be carried out,and the research methods of working capital management can be expanded.By sorting out relevant theories and literature,this paper determines to conduct research on the management status of Dong Fang Yuhong’s working capital from five perspectives: shareholders,creditors,suppliers,employees and customers.The study found that at the shareholder level,Dong Fang Yuhong has related transactions,and it is necessary to strengthen the disclosure of related party transaction information and ensure the interests of small and medium shareholders;from the perspective of creditors,Dong Fang Yuhong’s operating cash flow is insufficient,which may weaken The company’s solvency needs to pay attention to the management of cash flow;at the supplier level,the company’s accounts payable turnover period is extended,which may reduce the company’s credit and is not conducive to the maintenance of supplier relationships.Therefore,Dong Fang Yuhong needs to pay attention to accounts payable.from the perspective of employees,the company’s incentive measures are not in place,and the production efficiency of in-process products is low,so employee incentives are a matter that Dong Fang Yuhong needs to pay more attention to;From this point of view,a large number of accounts receivable are generated,and the slow payment speed is the top priority for Dong Fang Yuhong to solve urgently.It is necessary to speed up the collection speed of accounts receivable by strengthening customer information management and other means.