Study On The Performance Of Enterprise Commercial Credit

Commercial credit is the enterprise credit and payment and the formation of corporate debt,as reflected in the financial statements of accounts receivable,bills receivable and prepayments. The commercial credit can not only improve the competitiveness of enterprises,expand market share,increase sales revenue, improve business performance, may also be due to the opportunity cost,the cost of bad debts,increase management costs,resulting in corporate cash flow difficulties,the deterioration of the operating results and financial condition. How to avoid the disadvantages and maximize business credit play a positive effect on improving corporate performance,each enterprise is especially the core problem of small and medium-sized enterprises in the use of commercial credit when considering.The previous research on business credit mainly focus on quality and risk management of the commercial credit credit,but little research about the influence of commercial credit on the performance of enterprises, the relevant data in the primary and middle board manufacturing listing Corporation as samples,the basis principle the net assets yield level was significantly improved in terms of commercial credit,but to the realization principle of the enterprise operating cash flow based on the significant negative influence of the students. The results show that(1) assets of poor quality business credit form,the future formation of non-performing assets can be large,enterprise credit management level needs to be improved;(2) some enterprises may have the use of commercial credit of fictitious profits,whitewash financial behavior,corporate profits with "water" may great.In order to release the positive effect of commercial credit on the performance of enterprises,improve enterprise performance level,on the one hand,enterprises should formulate and improve the credit policy,including the development of accurate sales conditions according to the principle of optimal credit policy,credit analysis, accurate and timely collection policy. On the other hand, to strengthen the daily management of commercial credit,real-time monitoring and analysis of accounts receivable situation,found problems in manner to take countermeasures to prevent deterioration. Strengthen the daily management of commercial credit should include: real-time tracking of accounts receivable,accounts receivable aging analysis,and the establishment of mechanisms for bad debts. In addition,perfecting the information disclosure system of the market,strengthen enterprise financial audit,strengthen supervision and punishment,effectively prevent financial fraud.The first part mainly discusses the background and significance of enterprise commercial credit performance study,the main research contents and methods,the definition of related concepts,including the definition of commercial credit,enterprise performance and small manufacturing,innovation point of this paper and the status quo of research at home and abroad..The second part introduces the commercial credit of both positive and negative effect on enterprise performance theory and enterprise performance evaluation theory,which provides important theoretical basis for the theory of theoretical analysis and empirical test on the performance of the manufacturing of small plates.The third part analyzes the characteristics of small and medium-sized board manufacturing business credit,the influence factors and the influence on the performance of enterprises.The fourth part in 2004 in the 34 medium-size Enterprise Stock Market listed manufacturing enterprises as the research object,we construct the panel data of commercial credit to the enterprise net assets yield model,panel data model and the influence of commercial credit to enterprises operating cash flow of enterprises,commercial credit based on accrual basis and cash basis effect the performance index system formed by whether there are differences.The fifth part draws the conclusion of this paper,and put forward the optimization of enterprise credit behavior of commercial credit advice.