| Issue |
E3S Web Conf.
Volume 251, 2021
2021 International Conference on Tourism, Economy and Environmental Sustainability (TEES 2021)
|
|
|---|---|---|
| Article Number | 01095 | |
| Number of page(s) | 5 | |
| Section | Analysis of Energy Industry Economy and Consumption Structure Model | |
| DOI | https://doi.org/10.1051/e3sconf/202125101095 | |
| Published online | 15 April 2021 | |
Research on Evaluation of Working Capital Management Efficiency of Electric Power Listed Companies
1 STATE GRID HEBEI INFORMATION & TELECOMMMUNICATION BRANCH, No.10 Fuqiang street, Yuhua District, Shijiazhuang City, Hebei Province, China
2 North China Electric Power University, No. 2 Beinong Road, Changping District, Beijing, Chian
* Corresponding author: 969195747@qq.com
Power companies are mainly capital-intensive companies, and the efficiency of working capital management has a profound impact on the sustainability and stability of the development of power companies. This paper uses the DEA-CCR method to measure the working capital management efficiency of listed Chinese power companies from 2014 to 2019, and uses the Tobit regression method to analyze the factors that affect the working capital management efficiency. The results show: (1) The overall efficiency of working capital management of listed Chinese power companies is low, and there is still much room for improvement. (2) Decomposition of comprehensive technical efficiency results in pure technical efficiency and scale efficiency, both of which have an important impact on the overall working capital management efficiency of listed Chinese power companies. (3) Among listed electric power companies, the overall working capital management efficiency of central enterprises is lower than that of non-central enterprises. In response to the above conclusions, this article proposes measures such as reforming the working capital management system, optimizing the profitability of core businesses, and improving supply chain capital management to improve the working capital management efficiency of listed electric power companies.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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