Research On The Influence Of The Operational Capital Management Of Listed Companies In Textile And Apparel Industry On The Value Of Enterprises

Since the rise of national capital textile industry in 1921,China has become the world's largest producer and exporter of textiles and garments.The textile and garment industry has become one of the pillars of its traditional economy.In the 21 st century,China has moved from a "large textile nation" to a "strong textile country," but the process of progress does not happen overnight.This is bound to face various difficulties.According to the survey,high stocks are the main reason in the closed textile and garment industry.This shows that for a company,a reasonable working capital arrangement is very important.If the company's working capital is short,it will affect the entire production and business activities of the company.Businesses need sufficient working capital just as humans need enough water.Only if the working capital is sufficient and they work well,the company can produce normally and continue.Based on the above factors,this study constructed a performance appraisal system for working capital management.Descriptive statistics and correlation analysis were performed on both explanatory variables and explanatory variables.Then,empirical regression was used to prove the existence of current operating fund management level and corporate value.Kinds of links.Finally,draw conclusions based on the regression results and propose management suggestions that are beneficial to the industry.This study selects the empirical data of listed companies in China's textile and apparel industry from 2007 to 2016 as sample data.In the first chapter of the study,the background,significance,and content of the research are described.The second chapter elaborates the related concepts of working capital and domestic and international Literature review forms its own analytical thinking;Chapter 3 selects variables,proposes hypotheses,and constructs models;Chapter 4 describes descriptive analysis of sample data,Pearson correlation analysis,and multiple regression analysis;Chapter 5 uses empirical results.The empirical conclusions are given and suggestions are given on the feasible direction of future working capital research.The results of the study show that,as a whole,China's textile and apparel industry listed companies have varying levels of management of their working capital.There is a significant positive correlation between earnings per share,growth rate of net profit,cash recovery rate of total assets,and corporate value.This shows that the earnings per share,growth rate of net profit,increase in cash recovery rate of total assets,and the value of the company will increase accordingly..There is a significant positive correlation between the working capital turnover period and the corporate value of the procurement activities.This is because listed companies in the textile and apparel industry occupy the supply chain's upstream supplier funds and the management level of the working capital for procurement activities is too high,resulting in a decline in corporate creditworthiness.Industrial listed companies should pay suppliers' payment in a timely manner or within a reasonable period of time,increase the working capital turnover period for procurement activities,and increase the value of the company.There is no correlation between the working capital turnover period of production activities and the company value.There is a significant negative correlation between the working capital turnover period of marketing activities and the corporate value,which means that the shorter the working capital turnover period of marketing activities,the greater the corporate value.