营运资本管理效率对企业盈利水平和盈利质量的影响研究

Working Capital Management Efficiency Impact on Corporate Earnings Level and Earnings Quality Research

以制造业上市公司为研究对象,利用其在2000—2009年间的有关财务数据,对其营运资本管理效率与盈利水平和盈利质量之间的关系进行了深入研究,结果显示,缩短现金周期能够提高盈利水平,适当延长应收账款周转期能够有助于改善公司的净资产收益率和总资产报酬率,因此,应充分重视营运资本管理效率对企业经营活动及现金净流量的影响。

Taking the manufacturing listed companies as the research object, using its relevant financial data during 2000-2009, the working capital management efficiency and quality of earnings and earnings were studied, the results show that shortening the cash cycle can improve the level of earnings, the appropriate extension of the accounts receivable turnover period can help to improve the company＆#39;s return on equity and total assets return rate. Therefore, we should take attention to working capital management efficiency of enterprise operation activities and cash flows.