【作者】 郭东东；

【导师】 吕长江；

【作者基本信息】 吉林大学 ， 工商管理， 2004， 硕士

【摘要】 随着我国资本市场逐步成熟，证券市场的规范化，上市公司如何有效的加强对应收帐款的管理，收回货款，及时转换为现金成为企业理财所关注的热点。本论文介绍了应收帐款的理论综述，概述了应收帐款的内容及形成原因、应收帐款管理的必要性及其对企业的影响、应收帐款的管理途径、确定适合的信用标准、信用条件、完善收帐政策及强化应收帐款的日常管理，分析了我国上市公司应收帐款的特点，通过对我国上市公司应收帐款的描述统计分析计算，2001年我国上市公司应收帐款巨额增加，应收帐款的增长速度高于主营业务的增长速度，应收帐款占总资产的比重过大，帐龄老化及坏帐准备的提取比例增大，高于往年，上市公司应收帐款关联交易发生额过大，信息披露不规范。通过对影响我国上市公司应收帐款相关因素的实证性分析，对我国证券市场的规范提出了若干政策性建议。本课题研究的目的在于上市公司应收帐款的不断增加，加速了资产质量的恶化，并严重影响着公司的再生产能，应收帐款是影响企业财务状况的重要因素之一，它对企业的生产经营有着极大的影响。加强应收帐款的管理是企业正常地进行生产经营，降低财务风险的保障。本文采用行业分析和样本实证研<WP=43>究相结合的方法，对我国应收帐款的问题进行比较深入的研究探讨，并得出了若干结果和政策性建议，这些结果和建议无论是结资本市场的管理者、投资者还是证券监管部门作为借鉴和参考都将有利于我国股市的健康发展。本文主要的研究了中国上市公司应收帐款的特点及应收帐款周转率与净资产收益率、总资产周转率、主营业务收入增长率、资产负债率的相关关系。本文通过对我国2001年应收帐款的描述性统计分析计算，认为我国上市公司应收帐款增长速度高于主营业务收入的增长速度，应收帐款的平均增幅达246.63%，而同期的主营业务收入平均增幅仅为36.04%，从行业来看，应收帐款增长最多的是批发零售贸易业，平均增长达2059.57%。我国上市公司应收帐款占主营业务收入的比重过高，均值为38.21%，即上市公司每销售100元的产品，就有约为40元的产品是赊销的。我国上市公司应收帐款占总资产的比重过大，均值为11.07%，不少公司的总资产的50%表现为应收帐款和其他应收帐款,上市公司的应收帐款占总资产的比重过大，给企业带来了较大的经营风险。我国上市公司应收帐款帐龄老化问题严重，根据深沪两市的样本分析计算，帐龄在一年以内的应收帐款均值为60.90%，一年以上的为39.10%，而在国际上的通行做法，一年以上的应收帐款就应视为坏帐。我国上市公司应收帐款坏帐准备的提取比例<WP=44>大幅增加，历史上达到了最高，均值为193.52。我国上市公司关联交易中应收帐款发生额过大、信息披露不规范。通过对上述数据的描述性统计分析与对影响我国上市公司应收帐款的因素实证分析，个别行业的应收帐款周转率与各别指标（净资产收益率、总资产周转率、主营业务收入增长率、资产负债率）存在正相关关系，尤其家具行业回归模型对样本数据的拟合程度最好，总体回归效果很明显。通过对深沪两市应收帐款数据的分析计算，我国上市公司应收帐款大量增加，占总资产比重过大，应收帐款管理松懈，帐龄老化，我们应明确应收帐款帐龄的认定标准及计提坏帐准备的比例，缩减盈余管理空间，由于财政部新的规定，对坏帐准备的计提与计提比例由企业自定,具有较强的机动性，没有“度”的限制。而且也不能用单一的净资产收益率10%指标作为新股发行与配股的指标，避免有的上市公司。为了达到10%的配股及格线，大比例增加应收帐款来提高帐面利润，以达到配股圈钱的目的。我们应该借鉴国外经验尝试新的管理—应收帐款证券化管理，使我国上市公司的应收帐款走一条健康的发展的道路。更多还原

【Abstract】 With the increasing maturity of China’s capital market and standardization of securities market, It has become a focus for a corporate to finance that the listed company strive to manage accounts receivable effectively, collect sales revenues and timely convert to cash.In this paper the overall theory description of accounts receivable is introduced. The contents and causes of accounts receivable are summarized. The necessities of accounts receivable management and influences to corporate are related. The way to manage accounts receivable, credit standard, credit condition, collecting accounts policy and daily management of accounts receivable are confirmed. The characteristic of accounts receivable in listed company is analyzed. Through the descriptive statistical analysis calculation of account receivable in listed company, we know about many problems. Such as, the amount of accounts receivable in listed company has increased greatly. The increase speed of accounts receivable is higher than that of main business. The proportion of accounts receivable occupying total assets is much higher. The aging grows older and the drawing proportion of allowance for uncollected accounts is much bigger. The amount of traction in relation to accounts receivable is much higher. The information exposure is not regulated. After the analysis of related factors that affected accounts receivable in listed company, some constructive suggestions that help norm securities market in our country are provided. The increasingly growth of listed company’s accounts receivable has accelerated the deterioration of assets quality and has affected the company’s reproductive capability. Accounts receivable is one of the main factors that affected the company’s financial position. It has great influence to the regular operation. Strengthening the management of accounts receivable is to ensure the regular production operation and lower the financial risks. This article will deeply study the problem of accounts receivable using the means of <WP=46>combination of line analysis and model practical research and also offer some results and constructive suggestions which will benefit the development of stock market in our country to the managers in capital market and investors and securities supervisors as a reference.This paper mainly studies the characteristics of accounts receivable in listed company and relationship among accounts receivable turnover, rate of return on net assets, total assets turnover, increase rate of main business and rate of assets and liabilities.Through the descriptive statistic analysis and calculation of accounts receivable in our country in 2001,we think the average increase rate of accounts receivable is higher than that of main business revenues. The average increase extent of accounts receivable is 246.63%, while that of main business revenues is only 36.04%. From the line, accounts receivable in the wholesale and retail trade increase the most, average increase is 2059.57%. The proportion of accounts receivable in listed company in our country accounting for the main business revenue is higher, the average is 38.21%, That is, there will be forty yuan worth of product is to be through sales on credit every one hundred yuan worth of product in listed company. The weight of accounts receivable in listed company in our country accounting for total assets is bigger. the average is 11.07%. Half of the total assets in most companies are accounts receivable and other accounts receivable. The high weights of accounts receivable bring great operation risks to the company. The aging of accounts receivable in listed company in our country is sever. According to the analysis and calculation to the sample in the Hu-Shen markets, the average accounts receivable aging within one year is 60.90%, while that of more than one year is 39.10%. According to international regulation, accounts receivable more than one year is regard as bad accounts. The drawing proportion of allowance for uncollected accounts has increased greatly.更多还原