Effect Of Coal Companies Working Capital Policy On Corporate Performance

The financial management of enterprises includes a lot of content,and working capital management is a very important one.Many scholars have studied the importance of working capital management from different perspectives.Two scholars in the United States have conducted research on the financial managers of more than 1,000 large enterprises in the United States.The results show that financial managers put a third Of the time spent on the management of working capital.In order to survive and develop sustainably,good working capital management is a prerequisite,so it is very meaningful to study the working capital policy deeply.The purpose of this paper is to study the effect of working capital policy and working capital policy on corporate performance impact.This year the market competition is more and more intense,especially in the coal industry,due to a large amount of gold into the coal market,leading to the development of the coal market chaos,and many enterprises to expand the scale to increase profits,the operator of the internal management of enterprises is not enough attention,The management of working capital is not enough science.At present,the overall form of the coal industry is not optimistic,has formed the situation of oversupply,in this economic form,many small coal mines have bankruptcy,and large coal enterprises in order to invincible in the competition must change the development strategy,Fine management,improve the profit margins of enterprises.Based on the classification of the traditional working capital policy,this paper summarizes three new working capital policies,namely positive working capital policy,zero operating Capital policy and negative working capital policy.Then,using the method of descriptive statistics to analyze the investment policy and financing policy of working capital of coal enterprises,the author makes an analysis on the internal structure of working capital investment policy and financing policy,and analyzes the coal enterprises listed in China in recent ten years The company's working capital policy.The empirical analysis mainly adopts the multiple linear regression method to select the alternative variable according to the traditional working capital investment and financing policy,study the effect of the working capital policy on the performance of the coal listed company,on this basis,add the new variable of the working capital policy,Focusing on the impact of new variables on corporate performance,which is an innovation in the impact of working capital policies on corporate performance.Finally,based on the conclusion of descriptive statistical analysis and empirical analysis and the characteristics of coal enterprises at present,the paper puts forward some valuable suggestions to improve the development of coal enterprises in China.