技术与创新管理2024，Vol.45Issue(4)：400-414,15.DOI:10.14090/j.cnki.jscx.2024.0406
供应链融资对营运资金管理效率的影响
The Impact of Supply Chain Finance on Working Capital Management Efficiency
摘要
Abstract
An empirical analysis was conducted to explore the impact of supply chain financing on the efficiency of corporate working capital management.The study provides strategic recommendations for reducing financing costs and enhancing capital utilization rates,contributing to the high-quality devel-opment of enterprises.The research utilized panel data from manufacturing companies listed on the A-share market from 2010 to 2022 and employed quantitative analysis methods.It probed the impact of supply chain financing levels in procurement,production,and marketing channels on the period of working capital turnover from a channel management standpoint.The empirical results indicate that in the procurement channel,supplier trust dependency are negatively correlated with the working capital turnover period,while the ratio of short-term accounts payable is positively correlated with it.In the production channel,the levels of capital occupation during production and salary occupancy levels with-in the supply chain both negatively impact the working capital turnover period.In the marketing chan-nel,customer credit dependency and the ratio of short-term accounts receivable are negatively correla-ted with the working capital turnover period.Moreover,the study finds that at an overall level,supply chain credit dependency negatively affects the working capital turnover period,whereas the degree of supply chain capital occupation has a positive effect.Therefore,the rational use of supply chain finan-cing can significantly improve the efficiency of working capital management.Further research reveals that the analysis of property rights nature,whether it is a high-tech enterprise,and the heterogeneity of market status are of great significance for understanding the effect of supply chain financing on the effi-ciency of working capital management.关键词
供应链融资/营运资本/营运资金管理/营运资金管理效率/渠道管理理论Key words
supply chain financing/working capital/working capital management/working capital man-agement efficiency/channel management theory分类
管理科学引用本文复制引用
徐鹿,孟雪..供应链融资对营运资金管理效率的影响[J].技术与创新管理,2024,45(4):400-414,15.基金项目
哈尔滨商业大学教师"创新"项目(20GLE391) （20GLE391）
