国内零售企业库存水平影响因素的实证研究——基于沪深零售业上市公司的面板数据  

An Empirical Study of Inventory Turnover Performance of Retail Sector in China: Based on Public-listed Companies Data

作　　者：赵泉午[1] 黄志忠[2] 卜祥智[3] 

机构地区：[1]重庆大学贸易与行政学院,重庆400030 [2]南京大学商学院,江苏南京210093 [3]汕头大学商学院,广东汕头515063

出　　处：《管理工程学报》2010年第2期48-55,共8页Journal of Industrial Engineering and Engineering Management

基　　金：国家自然科学基金青年项目(70701022);教育部人文社会科学研究项目(09YJC630244)

摘　　要：本文系统考察了1996－2005年间国内零售企业库存管理现状,发现库存周转率与毛利率无相关关系,与固定资产比重和销售规模显著正相关,相对于销售增长,销售下降时销售增长率对库存周转率的影响更明显;东部地区零售企业库存周转率显著高于中西部地区。开展连锁经营会显著提高百货零售企业的库存周转率,而电器连锁和医药连锁等专业连锁零售企业库存周转率显著低于百货连锁零售企业。此外零售业库存周转率受公司相对于供应商的渠道力量和自身管理水平的显著影响。最后发现国内零售企业库存周转率随年度的变化主要是由宏观经济环境引起的,而不是管理水平的提高所致。This paper investigates Inventory Turnover Performance of Retail sector in china using financial data for 65 firms during period 1996～2005.We find that Inventory Turnover has no significant correlation with Gross Margin and has positive correlation with Capital Intensity and sales size of prior year.With respect Sales Ratio we find that Inventory Turnover changes more remarkably with sales contraction than with sales growth.Additionally we find Companies in East region have better inventory turnover than West and Middle region.Meanwhile we also find companies with chain stores have higher inventory turnover and companies selling electronic appliance and medicine have lower inventory turnover than companies selling general merchandise.And Management and power of channel both have significant effect on inventory turnover.Then we find macroeconomics factors（such as GDP growth） not improving management activities lead to variations of Inventory turnover among years.

关 键 词：库存周转率 毛利率 固定资产比重 销售增长率 连锁经营 

分 类 号：F253.4[经济管理—国民经济]