基于企业成长视角的资本运营新探

On the Capital Management Based on Enterprise Growth

企业的资本包括货币资本、实物资本、人力资本、技术资本、信息资本与知识资本。资本营运是指企业生产要素参与企业经营运转的过程。按照参与企业经营管理方式不同,资本可分为管理型资本、生产型资本、研发型资本。企业所处的财务阶段对资本的运营会产生直接的影响。财务周期分为紧缩期、扩张期、稳定期、衰退期。资本的运营应顺应每个财务阶段的特点,制定相应的资本的运营策略。

Enterprise capital including monetary capital, physical capital, human capital, technology capital, information capital and intellectual capital. Operating capital refers to the enterprise production factors participate in the process of business operation. In different ways according to participate in enterprise management, capital can be divided into management, productive, research and development of capital. Enterprise＇s stage of financial capital operation will produce direct impact. The financial cycle is divided into deflation, expansion, stability and recession. Capital operation should conform to the characteristics of each stage of financial, formulate corresponding capital operation strategy.