Research On Optimization Of Asset Structure Of Household Electrical Appliance Enterprises For Value Enhancement

Asset is the basis of enterprise survival and development,and the source of enterprise income.Asset plays a different role in the production and business activities,the proportion of assets in total assets and the proportion between the assets constitute the structure of the asset of the enterprise.Reasonable asset structure can not only effectively reduce cost,reduce risk,improve business performance,but also maximize the value of enterprises.At present,China's household electrical appliance industry after nearly four decades of market accumulation,has become the world's manufacturing center of the household electrical appliance industry.But whether the asset structure of China's household electrical appliance industry is reasonable,whether will produce influence on the enterprise value,little theoretical and academic research.So this paper attempts to explore the relationship between the enterprise value and the asset structure of the listed companies in the home appliance industry,and provides relevant countermeasures for the appliance listed companies to optimize the asset structure,enhance the value of enterprises.Based on the above purpose,this paper chooses listed A share household electrical appliance companies in Shanghai and Shenzhen as the object of study,using the economic value added(EVA)as the evaluation index of the enterprise value,using the proportion of current assets,the proportion of currency funds,the proportion of accounts receivable,the proportion of inventory,the proportion of fixed assets,the proportion of long-term equity investments and the proportion of intangible assets as indicators of asset structure,establishes regression model,uses multiple regression method for empirical research.In this paper,we use Eviews8.0 software to carry out the correlation test and regression analysis for the collected sample data,and to explore the intrinsic relationship of household electrical appliance listed companies between the asset structure and the value of the enterprise.Through theoretical research and empirical analysis,this paper concludes that there is a significant positive correlation between the currency funds and the enterprise value,a weak negative correlation between the accounts receivable and the enterprise value,a significant negative correlation between the inventory and the enterprise value,a weak positive correlation between the current assets and the enterprise value,a weak negative correlation between the fixed assets and the enterprise value,a weak negative correlation between the long-term equity investment and the enterprise value,and a significant positive correlation between the intangible asset and the enterprise value.Finally,this paper puts forward the relevant countermeasures to optimize the asset structure and enhance the value of household electrical appliance enterprises from eight aspects based on the development of household electrical appliance industry and empirical research conclusions.