Research On The Performance Of Enterprise Group's Working Capital Management

Working capital management is an important content of enterprise financial management,with the change of competitive environment and the transformation of enterprise's management philosophy,the importance of working capital management is increasing,and it is directly related to the success or failure of the entire business.Enterprise group is a more complicated economic organization than a single enterprise,its working capital management is more important,more complex and more special than that of single enterprise.With the development and expansion of enterprise groups,the problem of working capital management has become increasingly prominent,which has seriously affected the management performance of enterprise group working capital.Given the correct evaluation of working capital management performance to improve our working capital management of enterprise groups is important,this paper attempts to combine the characteristics of enterprise groups' and the basic financial management theory,based on the proposed establishment of working capital management performance conglomerate evaluate ideas,committed to build a rational comprehensive evaluation system,in order to obtain a more comprehensive and objective evaluation of the results.In the process of building a new comprehensive evaluation system,the design of the index system and the construction of the evaluation model is the core.In the index system,the paper adopts the method of analysis and comparison of traditional index,selected by the advantages and disadvantages,and modified them by combined with domestic enterprise group's working capital management features,and also complements the innovative part of the evaluation index,such as operating cash return rate,working capital growth efficiency,long-term liabilities accounted for working capital ratio,and stakeholder theory,3E efficiency theory to guide the establishment of economy,efficiency,effectiveness,safety,harmony evaluation of the five dimensions of architecture,so that the evaluation index system becomes clearer,richer and more comprehensive.In the selection of evaluation methods,using the statistical analysis methods--AHP,to establish a performance index calculation model,so that the users can obtain quantitative evaluation results to evaluate the performance more directly and the comparison will be more obvious.Paper selected the Enterprise Groups of domestic household appliance industry as the sample data and analyzed the performance of working capital management,and selected one typical enterprise group---Gree Electric appliances as an example of analysis and evaluation,to verify the feasibility of comprehensive evaluation system,meanwhile,made the basic objectives in line with expectations result.Finally,according to the present situation and characteristics of working capital management of domestic enterprise group,the suggestions are put forward to optimize the performance of working capital management.