营运资本管理与企业绩效关系问题探析——以万科为例

On the Relationship between Working Capital Management and Enterprise Performance:Taking Vanke as an Example

营运资本作为企业日常经营的重要部分,是企业生存延续的保障。房地产行业作为国民经济的支柱产业,其营运资本管理水平的高低对国民经济的影响举足轻重。以万科企业股份有限公司为研究对象,利用其2016-2020年的财务报告数据,选取相应财务指标,从营运资本管理政策及效率两方面分析营运资本管理效率与绩效的关系,并与同行业企业碧桂园、中国恒大做对比分析。发现万科存货占用资金较大,存在营运能力波动较大等问题;提出整个房地产行业应加强资金链管理、去库存、降本增效等建议,提高企业绩效。

Working capital,as an important part of the daily operation of an enterprise,is the guarantee of the survival and continuation of the enterprise.As the pillar enterprise of national economy,the level of working capital management has a significant impact on the national economy.Taking Vanke Enterprise Co.,Ltd.as the research object,this paper uses its financial report data of 2016-2020,selects the corresponding financial indicators to analyze the relationship between performance and working capital management policies and efficiency,and compares it with the same industry such as Biguiyuan and China Evergrande.The paper finds that Vanke inventory occupies a large amount of capital and has great fluctuation in operation capacity.It also puts forward suggestions for the whole real estate industry to strengthen capital chain management,inventory reduction,cost reduction and efficiency increase,so as to improve the performance of the enterprise.