Research On The Correlation Between The Efficiency Of Working Capital Management Of Listed Companies And Corporate Performance

With the growth of the national income and the development of urbanization,the quality of people's life got highly improvement,but the problem such as obesity group,aging population increase comes,it is a development opportunities for pharmaceutical manufacturing enterprise,but also created many challenges.Now our medicine manufacturing enterprise have many problems,such as low concentration and high barriers to entry,the investment risk,vicious competition,etc.Manufacturing industry's achievements need to improve.Working capital is an important force for the survival and development of enterprises,Are the focus of attention of academia and enterprises,people found that it is not enough to just stay in the traditional theoretical research,more and more scholars start from the empirical aspects to explore the relationship between working capital management and enterprise performance.In this study,we use empirical research method to establish relationship,Study the internal relationship between the two,hope to provide relevant recommendationsIn theoretical research,this paper research on working capital connotation,the development history and the relationship between working capital and corporate performance in detail,at the same time the development of our country medicine manufacturing industry status and industry management activity characteristic has carried on the preliminary understanding,rapid development but slowdown,market disruption,policy impact,etc.Second,the analysis of the industry situation of working capital,combined with 2010 to 2015,the flow of the listed companies in the industry assets,current liabilities,and liquidity ratio data analysis,it can be seen working capital structure of pharmaceutical manufacturing industry there are some unreasonable place,working capital management efficiency is relatively low.In the empirical research,combined with the analysis of theory,using multiple linear regression method to study the pharmaceutical manufacturing industry in our country the channels,operating activities and financial activities and total turnover period of working capital in the correlation between corporate.The empirical results show that Working capital management turnover period of pharmaceutical enterprises is negatively correlated with corporate performance,improve the velocity of working capital helps to improve enterprise performance The influence of purchasing channel working capital management is more significant,The working capital management level within the industry marketing channels on the larger gap.Finally,,Based on the empirical research,this paper puts forward some suggestions on how to speed up the process of pharmaceutical enterprise group,strengthen the management of working capital and improve the working capital structure.