Discussion Of The Working Capital Management Of Listed Companies

With the gradual establishment of China’s socialist market economic system and constant improvement of the modern enterprise system, a large number of enterprises to establish, increasingly competitive market, more and more business managers recognize the importance of working capital management. Working capital as a core part of the listed company’s funds management, performance management directly determines the future prospects of the listed companies. Working capital management is involved in all aspects of the day-to-day production and operation activities of listed companies. Therefore, the level of listed companies profitability large part depends on the level of working capital management. But now in China’s listed companies, working capital management widespread weaknesses. How to avoid a funding crisis in the enterprise development, and working capital management from a strategic level achieve high-efficiency and high-yield, has become the focus of widespread attention and in-depth study by listed companies in China. Therefore, the paper based on the working capital management of listed companies in China, systematic analysis and think accounting issues faced by the working capital management, trying to make modest working capital management for China’s listed companies. Through the analysis of the problems of the working capital of the listed company management and the causes,proposed related countermeasures, the article explores the existing problems of the working capital management of listed companies in China.The framework of this paper is based on recalling working capital management research at home and abroad, the paper is logically divided into four chapters analyze the working capital management of listed companies in China The first chapter, introduced overview of the theory of working capital management. First, outlined definition working capital and working capital management,think that working capital is current assets to current liabilities of the general term;secondly outlined the content and strategy of working capital management,including holdings strategy and financing strategy;finally,introduced three of the more popular current working capital management theory:zero working capital management theory, value chain oriented working capital management theory and based channels theoretical working capital management theory.The second chapter, mainly captured problems from three aspects of China’s listed companies in working capital management,including working capital structure is irrational, operational inefficiencies of working capital, the scarcity of research theory etc. The third chapter,analysis of these problems existing reasons which mainly derived from internal and external corporate.Last around China’s listed companies on working capital management problems and causes, to find a solution countermeasures, proposed a number of specific measures to strengthen the working capital management,including optimizing working capital structure, improve the operational efficiency of working capital, innovative working capital management mode and improve the external environment of the listed companies and to strengthen the working capital management system etc.In this paper, using standardized study, the theory with practice, the working capital management of listed companies in China Problems and financial management theory to combine research-By induction interpretation of the existence of the problem, in the analysis of the problem of the theory with the actual case combination, do a combination of theoretical and practical, combined with the actual situation of China’s listed companies, and finally by a summary of the research of scholars put forward specific proposals. Want to be able to provide practical advice policy management issues for the working capital of the listed companies in China.This research conclusions:(1)China’s listed companies facing working capital structure is irrational,operational inefficiencies of working capital management and working capital management theory lag prominent etc.(2) Working capital management listed companies in China main reason for these problems from the company external and internal, including national capital management system is not perfect and strict and lack theoretical research of working capital management, insensitive listed companies react to market changes and listed companies does not improve electronic information system etc.(3)Countermeasures to solve the listed companies in China working capital management is to optimize working capital structure,improve the efficiency of working capital management, innovative working capital management mode and improve the external environment of the listed companies and to strengthen the working capital management system etc.