^(*)ST公司营运资本管理研究——以^(*)ST金岭为例

Research on Working Capital Management of^(*)ST Company--Taking^(*)ST Jinling Co.as an Example

^(*)ST公司通过非盈余管理手段实现规范摘帽,能从根源上提升企业经营能力,激发企业活力。营运资本作为企业日常生产经营的重要部分,为^(*)ST企业的持续经营提供了保障。以金岭矿业作为研究对象,从营运资本结构、要素和渠道三个方面分析其在戴帽前后的营运资本管理情况。研究表明,改善营运资本结构、加强对营运资本要素和渠道的管理,有利于促进^(*)ST公司摘帽。对相似的^(*)ST公司提出了建议,通过非盈余管理手段,提升营运资本管理水平,帮助戴帽企业摆脱困境。

Geting rid of special treatment by means of non-earnings management measures can improve operation ability of^(*)ST companies and stimulate the vitality of^(*)ST companies.As an important part of the daily production and operation of the enterprise,working capital provides a guarantee for sustainable operation of^(*)ST enterprises.This paper takes Jinling Mining as the research object,and analyzes its working capital management before and after the special treatment from three aspects:working capital structure,elements and channels.The research shows that improving the structure of working capital and strengthening the management of working capital elements and channels are conducive to promoting^(*)ST companies to get rid of special treatment.This paper also puts forward suggestions for similar^(*)ST companies to help them overcome difficulties.