工业企业资金成本与资金链松紧量化研究——基于工业企业损益表视角

今年多方反映企业资金链紧、资金成本高、对企业利润影响明显。那么,资金成本对利润影响程度如何?企业资金链松紧度如何?本文选择71家样本工业企业,比较研究了资金成本等各成本项目对工业企业利润影响程度,从成本视角提出了工业企业资金链松紧度量化判断模型。研究表明:(1)工业企业资金成本在上升,对利润增长的影响程度有增加,但远不及原材料、用工成本等主营业务成本的影响;(2)基于成本视角提出的资金链松紧值G’处于"适度"区间的下轨,但已连续3个月回升,正走出"紧"区间。

Currently,it has been reported that the profit of industrial enterprises has decreased significantly because of tight capital chain and high capital cost.But how much the influence and how tight the capital chain is? This paper,based on the data of 71 industrial enterprises,conducts an empirical study on the relationship between cost items and profit.At the same time,it puts forward a calculating model of capital chain tension judgment,from the perspective of enterprise’s cost.It concludes that,compared with other factors like raw materials and labor cost,the increase of industrial capital cost has a less negative effect on the profit of enterprises.The capital chain index of G’,based on the perspective of cost,falls within the low region of a moderate range,but has increased for 3 months,coming out of the higher region