Research On Performance Evaluation Of Working Capital Management Of Real Estate Enterprises

Working capital management is a crucial part of the daily business activities.It affects capital turnover and operating efficiency of enterprises.With the development of enterprise practice,the study of working capital management has been constantly innovated from single factor evaluation to channel management and then to the combination of value management and comprehensive evaluation.The rapid development of China's economy has boosted the highly overheated development of the real estate industry.The real estate industry is facing the development opportunity,and it is also facing the challenge of many problems such as the increased financial risk and the backwardness of management.In order to gain competitive advantage,real estate enterprises must take working capital management seriously,so as to improve the operating efficiency of working capital and enhance the profitability of enterprises.This study aims to explore the mode and characteristics of working capital management in real estate enterprises;and this study aims to evaluate the efficiency and effectiveness of working capital management in enterprises,and summarize relevant experiences accordingly.This paper firstly combed the working capital management and performance evaluation at home and abroad related literature material,determine to real estate enterprises working capital management efficiency as the research direction.According as the theory of channel management,this paper combines with the characteristics of real estate enterprise product carefully to select the evaluation index,establishing management working capital of three dimensional analysis framework,and according to the three dimensional distribution of working capital management,summarizes the four types of enterprise working capital management.On the basis of 3d analysis framework,entropy method and grey correlation analysis method are used to evaluate the performance of working capital management.Finally,three giants of China's real estate industry--Evergrande,country garden and vanke were selected as the case companies to identify the types of working capital management.And the quantitative evaluation results of the performance evaluation system were used for analysis,which verified the rationality of the company classification and system in this paper.In this study,the possibility of success exists in different types of working capital management.But,only the type of balance is the way to sustainable development.Enterprises with different types of working capital management must attach importance tothe repair of short plates and their characteristics.Performance evaluation of working capital management must be built from classification recognition to comprehensive evaluation.