随着全球经济低迷，金融危机越发加重，国内和国际的市场竞争日益激烈，阀门
制造企业已经很难通过提高售价来保持盈利，因为要提高售价会影响销售，降低竞争
力。我国阀门制造企业近年来虽然在规模上不断增长，然而仍然存在着不少问题，如
盈利能力较弱，竞争力不足等，阀门企业要求提高市场竞争力的需求越来越强烈。对
阀门制造企业而言，在外部资源越来越难以获取的情况下，从企业内部发掘提升竞争
力的潜力成为必不可少的选择。因此阀门制造企业有必要提高经营管理水平和运营效
率，营运资本管理是加强阀门制造企业管理的重要一环。
本文系统分析阀门制造企业营运资本管理现状及影响因素，采用理论结合实际的
方法，基于在目前已有的对营运资本管理研究文献的基础上，结合阀门制造企业自身
的特点及影响因素，提出了以适中的营运资本持有方案为主的管理方案，并以 R 阀
门制造公司为例，介绍 R 公司实施营运资本管理的状况，分析 R 公司实施营运资本
管理带来的效果，进一步验证了该方案的有效性。希望本文的研究能够为阀门制造企
业在营运资本管理体系建设及实施方面提供一定的借鉴作用。
关键词：阀门制造企业 营运资本 营运资本管理
作 者：徐 莉
指导教师：罗正英英文摘要 阀门制造企业营运资本管理研究
II
The Research on Working Capital Management for Valve
Manufacturing Enterprise
Abstract
Since China's reform and opening up, Chinese valve manufacturing industry has
established a solid foundation. The total manufacturing and manufacturing technology
level of Chinese manufacturing industry has greatly improved. At present, China valve
manufacturing industry ranks fourth in the world, just behind the United States, Japan and
Germany.
As the global economic downturn, the financial crisis intensified, domestic and
international market competition is increasingly fierce. Valve manufacturing enterprises is
hard by raising the prices to remain profitable, because higher price will weaken the
competitiveness and falling sales. Although on the economic benefit and scale increasing,
Chinese valve manufacturing enterprises still lack of competitiveness and their profitability
is not strong. In the case of external resources is more and more difficult to obtain, the
enterprise improving the internal performance and enhance the potential competitiveness is
an essential choice. To improving management level and operating efficiency is very
necessary and urgent for a manufacturing enterprise. Working capital management is one
of the key links in order to strengthen the management of valve manufacturing enterprises.
This paper combines theory with practice based on the existing research literature on
the basis of the working capital management. According to the characteristics of the
manufacturing enterprise itself and its influence factors, this paper put forward that
manufacturing industry should adopt moderate working capital policies. At the same time
this paper takes R manufacturing enterprise as a living example to demonstrate the validity
of the approach and provides a certain reference value to other related manufacturing
enterprises in working capital management. Hope this research can make proposals for
valve manufacturing enterprises in the implementation of working capital management
system construction.
Key words: Valve Manufacturing Enterprise, Working Capital, Working Capital
Management
Written by：Xu Li
Supervised by：Luo Zhengying
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