An Empirical Research On Impact Factors Of The Performance In Working Capital

In enterprise's financial management , the working capital management occupy avery important position. In enterprise, the working capital's revolving is strongest, thefund profitability is based on the level of working capital management plane. In ourcountry, we are late to research the conten of working capital management,the relatedarticles are few, and mainly concentrate in the fundamental research, the articles aboutpractical is very few. But traditional working capital management theory only focuson their own, can not reflect the capital's circulation, separated the realation betweenworking capital and flow process, has not been able to adapt modern businessmanagement's demand. According to the new working capital theory, enterprise must establisha supply chain management system which bond supplier,manufacturer and consumer, transformthe enterprises'traditional relationship into a strategy partner relationship, thus reduce the exteriortransaction cost, enhance the advantage of competitive. So study the combination of workingcapital management and supply chain management has very important theory value and practicesignificance, which can enhance enterprises'survival and competitive capability.This article's foundations are supply chain management,sitribution channels,analyse the material factor and influence mechanisem which make important affect tothe performance of working capital management, then make some statistic model toconfirm the analyse results. My innovation are bond the supply chain managementand working capital management, analyse which factors may affect the performanceof working capital management that based on the new classification of workingcapital. according to these conclusion, establish some model and select manufacturindustry's data from Shenzhen stock exchange and shanghai stock exchange toconfirm the conclusion. The result indicated: the business process isn't correspond the conclusion, because manufacture industry are labor-intensive enterprise, thischaracter's affect are so significant that the result can not correspond the conclusion;in the multiple linear regression, the supplier management level, the quality ofreceivable account, the credit of strategy partner, supplier quantity and the sustomer'sconcentration degree make remarkable influence to the working capital management.And the quality of receivable account has make the most major influence to theperformance of working capital. This conclusion show us that the enterprise can raisetheir level of working capital management by raise their supply chain managementlevel, choose excellence strategy partner, enhance the level of suppliers andcustomers'management. These have guiding significance to enhance the enterprises'level of working capital management.