Research on the Performance of Working Capital Management of Agricultural Enterprises Based on the Channel Theory

【Objective】 Taking agricultural enterprises as the research object, combining the current situation of the working capital channel management of agricultural enterprises, this project aims to study how to improve the performance of the working capital management of the agricultural enterprises according to the theory of channel management.【Method】Based on the theoretical analysis, this paper put forward the hypothesis that the turnover period of purchasing, production and marketing channels of agricultural enterprises was negatively related to the comprehensive performance of enterprises, and an analytical model was established on the basis of theoretical analysis. According to the historical data of 56 sample companies from 2010 to 2015, the data were sorted out by using measurement software, and the data were analyzed by SPSS software. Besides, the principal component factor analysis (PCA) was used to analyze the relationship between the turnover period of each channel and the comprehensive performance of the enterprise by using Eviews software. 【Result】The multiple linear regression model was constructed and it was concluded that the working capital period of the procurement channel was positively related to the performance level of the agricultural enterprise, however, there was a negative correlation between the turnover period of working capital of production channel and marketing channel and the comprehensive performance of enterprise, that was, the shorter the turnover period of working capital, the higher the level of corporate performance.【Conclusion】Combining with the current situation management, the paper has put forward the methods and suggestions for the agricultural enterprise working capital channel management: to strengthen procurement channels to promote the supplier business model operation, to improve production channels to perfect internal business processes, to adjust marketing mode to better the working capital management performance in agricultural enterprises.