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The Empirical Analysis of the Impact of Channel Management Over Working Capital Management Performance

Author: WangXingHe
Tutor: WangZhuQuan
School: Ocean University of China
Course: Accounting
Keywords: Channel Management Working capital management performance Customer aggregation Supplier aggregation
CLC: F275
Type: Master's thesis
Year: 2010
Downloads: 703
Quote: 5
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Abstract

Working capital management in financial management theory and practice of corporate financial management plays an important role in foreign countries, working capital management research far beyond the corporate sector, stood supply chain perspective. In contrast, the level of domestic enterprises and foreign working capital management compared to a considerable gap exists, one important reason is the lack of advanced theory. Wang Zhuquan etc. (2007) proposed that in the working capital into working capital from operating activities and working capital financing activities on the basis of further working capital from operating activities in accordance with its relationship with the channel marketing channels are divided into working capital (receivables inventories of finished goods receivable, notes receivable - Receipts in advance - Taxes payable), the production channels working capital (in product inventories Other receivables - Accrued payroll - Other payables) and procurement channels working capital (inventories of materials prepaid account models - accounts payable, notes payable), and as a basis to establish channels of working capital management based performance evaluation system. According to this new concept of working capital management, channel management has become the focus of working capital management. Every enterprise must establish on from suppliers (and even suppliers suppliers), down to the end consumer channel control network, capture the overall flow of working capital. Professor Wang Zhuquan advocated the working capital management and supply chain management, customer relationship management and channel management philosophy is a combination of working capital for the future management of the new direction, and how to improve channel management and to improve working capital management performance become a new research topic . Normative analysis and empirical analysis through a combination of methods, the paper points from the perspective of marketing channels, channel management, production channels and purchasing channels of influence working capital management performance of each channel factors influencing factors such enterprises through management, to improve working capital management performance purposes. In-depth analysis of marketing channels, purchasing channels, production channels working capital management performance factors, based on the paper selected sample of 520 listed companies manufacturing data for each channel operating capital and operating activities of the working capital turnover was the dependent variable to various channels working capital management performance factors as the explanatory variable, using SPSS statistical software for multiple linear regression analysis. Empirical analysis shows that supplier aggregation, supplier credit management, product management, customer aggregation, customer credit management and other five explanatory variables and the proportion of financial personnel, total assets of two control variables such as working with business activities capital turnover period there was a significant linear relationship, in which aggregation supplier, customer aggregation, the proportion of financial personnel, total assets and operating activities of working capital cycle negatively correlated. This result improve working capital management performance of important guiding significance, first, improve supplier and customer aggregation aggregation, enhanced with suppliers and customers cooperation, attention to the role of supply chain management; Second, actively improve processes, reduce the production process in the product on a scale and speed of the product turnover rate, reducing the funds used in the product; Third, strengthen the supplier and customer credit management. In addition, through empirical analysis, financial staff ratio and marketing channels, production channels and business activities working capital cycle has a significant negative correlation between improved financial officers of all employees in the proportion of help to improve working capital management performance, which from a side said that the financial daily business activities in the enterprise is playing an increasingly important role.

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