摘 要

目前随着市场规模的不断壮大，营运资金占比也越来越大，企业只有合理充分地利用营运资金，使营运资金的利用率达到最大，这有这样企业才能健康的发展。因此以体育用品制造业为例研究上市公司营运资金管理及对策。首先介绍了本文的目的与意义，并对营运资金管理进行合理的分类；其次根据传统的营运资金管理，结合关于供应链的营运资金管理，建立体育用品制造业的营运资金管理指标，采用SPSS软件利用主成分分析法，通过减少指标的思想，把多数没有关系的指标去掉，最终建立基于体育用品制造业营运资金评价模型。对15家上市公司进行主成分得分排名分析，分析出我国体育用品制造业半数以上的上市公司偿债能力较弱，而且投资活动的资金回收率也存在着比较大的问题，很多上市公司负债率较高，占资产的比重太大，一定程度上增加了企业的坏账，加剧了上市公司的营运风险。体育用品制造业上市公司只有利用闲置资源的整体效率和对利用营运资金的整体管理效率较高。最后根据体育用品制造业在营运上存在的问题，对上市公司提出预防坏账的准备，制定规范的营运资金管理制度，加强公司人员对营运资金管理意识以及要善于创新等对策，从而改善各上市公司营运资金的管理，加快经济的发展。

关键词：营运资金管理；体育用品制造业；主成分分析法；对策

A listed company working capital management and response
---- In the sports goods industry as an example.

ABSTRACT

At present, with the continuous expansion of the market scale, the proportion of working capital is also increasing. Only by rationally and fully utilizing working capital, the company can maximize the utilization rate of working capital, which enables such enterprises to develop healthily. Therefore, taking the sporting goods manufacturing industry as an example to study the management of working capital of listed companies and countermeasures. Firstly, the purpose and significance of this paper are introduced, and the working capital management is classified reasonably. Secondly, according to the traditional working capital management and supply chain-based working capital management, the supply chain management index of the sports goods manufacturing industry based on supply chain is established. The software uses the principal component analysis method to change the original overlapping indicators into a few independent indicators through “dimension reduction”, and finally establishes a working capital evaluation model based on the sporting goods manufacturing industry. The analysis of the main component scores of 15 listed companies analyzes that more than half of the listed companies in China's sporting goods manufacturing industry have weak solvency, and the capital recovery rate of investment activities also has relatively large problems. Many listed companies have debt ratios. Higher, accounting for a large proportion of assets, to some extent increased the bad debts of enterprises, and increased the operational risks of listed companies. Listed companies in the sporting goods manufacturing industry have higher efficiency in the overall efficiency of using idle resources and overall management of working capital. Finally, according to the problems existing in the management of the working capital of the sporting goods manufacturing industry, it is recommended that the listed company rationally arrange working capital, strengthen the risk management of accounts receivable, strengthen the awareness of the company's personnel on the management of working capital, and be good at innovation, so as to improve the listed companies. The management of working capital accelerates economic development.

Key words：Working capital management; sporting goods manufacturing; principal component analysis countermeasure

目 录

1 绪论 1

1.1 研究的目的与意义1

1.1.1 研究的目的1

1.1.2 研究的意义1

1.2 国内外相关研究综述2

1.2.1 国外研究综述2

1.2.2 国内研究综述2

1.3 研究的方法与内容4

1.3.1 研究方法4

1.3.2 研究内容5

2 营运资金管理相关理论概述7

2.1 营运资金管理7

2.1.1 营运资金管理的概念7

2.1.2 营运资金筹资策略7

2.1.3 营运资金投资策略8

2.2 供应链管理理论和渠道理论9

2.2.1 供应链管理理论9

2.2.2 渠道管理理论9

2.2.3 基于渠道的营运资金分类9

3 体育用品制造业营运资金管理影响因素10

3.1 体育用品制造业营运资金管理评价指标10

3.1.1 传统营运资金管理评价指标10

3.1.2 基于供应链的营运资金管理评价指标10

3.1.3 基于供应链的体育用品制业营运资金管理评价指标10

3.2 主成分分析法11

3.2.1 评价指标选择11

3.2.2 主成分分析12

3.3 模型的建立15

3.4 体育用品制造业营运资金管理影响因素16

4 体育用品制造业营运资金管理评价模型分析17

4.1 营运能力分析17

4.2 偿债能力分析18

4.3 管理效率能力分析18

4.4 分析总结19

5 体育用品制造业营运资金管理的结论与对策20

5.1 研究结论20

5.2 研究对策21

致谢22

参考文献23

1 引言

1.1 研究的目的与意义

1.1.1 研究的目的