房地产类上市公司营运资金管理研究

房 地 产 类 上 市 公 司 营 运 资 金 管 理 研 究摘 要营运资金是流动资产与流动负债的差额，从计算公式可以看出营运资金具有较强的流动性，是企业最具有活力的资金，是企业营运情况好坏的重要环节，因此是短期财务管理的重点研究对象。房地产行业是典型的资本密集型产业，资金对于该行业的长远发展具有十分重要的意义。研究房地产行业的营运资本管理与盈利能力的关系有利于进一步制定更为合理的营运资本管理制度，从而更好地为房地产类公司的良好发展提供指引。本文选用了60家房地产上市公司2009-2018年的财务数据，对房地产行业营运资本管理政策和效率两个方面的特点，现状和相关性进行分析。最终得出筹资政策越激进，企业盈利能力越强的结论。在营运资本管理效率上，得出现金周期和盈利能力负相关的结论。最后，综合这些结论，提出了优化房地产行业营运资本管理的相关建议。关键词：房地产；营运资金管理政策；营运资金管理效率；盈利能力The Operating Theory of Essential Truth in JournalismAbstractWorking capital is the difference between current assets and current liabilities. From the calculation formula, it can be seen that working capital has strong liquidity, and is the most dynamic fund for an enterprise, and it is an important part of the good or bad operating conditions of the enterprise. The real estate industry is a typical capital-intensive industry, and the capital is of great significance for the long-term development of the industry. Studying the relationship between working capital management and profitability of the real estate industry is conducive to the development of working capital management and to further improve corporate proftbility. This article uses the financial data of 60 listed real estate companies from 2009 to 2018 to analyze the characteristics, status quo, and correlation of the two aspects of working capital management policies and efficiency in the real estate industry. Finally, the more aggressive the financing policy, The...