(Luận văn thạc sĩ) impact of goods distribution system on financial performance the case of minh thai co , ltd

VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL *************** PHAM VAN NHUNG IMPACT OF GOODS DISTRIBUTION SYSTEM ON FINANCIAL PERFORMANCE: h THE CASE OF MINH THAI Co., LTD MASTER THESIS HA NOI - 2021 VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL *************** PHAM VAN NHUNG IMPACT OF GOODS DISTRIBUTION SYSTEM ON FINANCIAL PERFORMANCE: THE CASE OF MINH THAI Co., LTD TÁC ĐỘNG CỦA HỆ THỐNG PHÂN PHỐI HÀNG h HÓA ĐẾN HIỆU QUẢ TÀI CHÍNH: TÌNH HUỐNG TẠI CƠNG TY TNHH MINH THÁI Major: Financial Management Code: 8340202.01QTD MASTER THESIS Supervisor: PhD.Mai Anh HA NOI - 2021 DECLERATION I hereby declare that this is my graduation thesis The results in my graduation thesis are true and have never been published in any other study I hereby declare that this Master thesis entitled “IMPACT OF GOODS DISTRIBUTION SYSTEM ON FINANCIAL PERFORMANCE: THE CASE OF MINH THAI Co., LTD ” was carried out by me for the degree of Master of Financial Management under the guidance and supervision of PhD Mai Anh – Head of Office of Academic Affairs of International School, Vietnam National University, Hanoi The interpretations put forth are based on my reading and understanding of the original texts and they are not published any where in the form of books, monographs or articles The other books, articles and websites, which I have made use of are acknowledged at the respective place in the text For the present thesis, which I am submitting to the University, no degree or diploma or distinction has been conferred on me before, either in this or in any other University h Hanoi, August 2021 Pham Van Nhung ABSTRACT Thesis Title: Impact of goods distribution system on financial performance: case of Minh Thai Co., Ltd Pages：67 University：International School - Vietnam National University Date：August, 2021 Degree：Master Researcher：Pham Van Nhung Advisor：PhD Mai Anh The thesis focuses on researching and examining the effects of the goods distribution system on the financial performance of Minh Thai Co., Ltd in the period 2018 - 2020, as well as the means to achieve innovation and financial performance Data used in the analysis in the thesis in addition to the company's report data, there are also 150 questionnaires to conduct the survey at Minh Thai Co., Ltd This study proves that internal factors are directly related to the financial performance of the company and indirectly related to the distribution system The company needs to have solutions to h improve the problems affecting the distribution system to improve financial efficiency This study wishes to contribute to understanding the premises and results of distributed systems by providing empirical evidence on distribution forms at Minh Thai Co., Ltd to improve financial performance Keywords: Financial performance; Distribution system ACKNOWLEDGEMENT During the time of preparing and completing my thesis, I received numerous support and encouragement from many people This is hereby to express my sincere gratitude to them First and foremost, I would like to give my sincere thanks to the lecturers, especially to my supervisor Dr Mai Anh for their devoted attention, lessons and guidance, which have equipped me with key knowledge and essential skills throughout the course More importantly, everything I have learned here would undoubtedly help me tremendously in my work Second, I wish to express my gratefulness to my colleagues at Minh Thai Co., Ltd for their enthusiastic support and creating favorable conditions for me to have more useful information to complete this thesis I would also like to thank International School - Vietnam National University, for useful supports during studying and researching to complete this paper This course has equipped and improved and added a lot of knowledge about the different areas In addition, the course also helps me to have a relationship, have the opportunity to share h information and learn from other students in the program Sincere thanks Pham Van Nhung CONTENTS DECLERATION ABSTRACT ACKNOWLEDGEMENT LIST OF TABLES LIST OF FIGURES LIST OF ABBREVIATIONS CHAPTER 1: INTRODUCTION 1 Background of the study 1.2 Questions of thesis Objectives and scope of thesis 1.4 Research Methods 1.5 The structure of study 11 CHAPTER 2: LITERATURE REVIEW 12 2.1 Financial performance 12 2.1.1 Definition of financial performance 12 h 2.1.2 The indicators for evaluating the financial performance 13 2.1.3 The meaning of financial performance 16 2.2 Distribution Systems 16 2.2.1 Definition of Distribution Systems 16 2.2.2 Distribution System and Distributor 17 2.2.3 Functions and Role of Distribution System 17 2.3 Relationship of Distribution system and financial performance in business activities 19 CHAPTER 3: RESEARCH METHODS 21 3.1 Research Methods 21 3.2 Hypotheses 21 3.3 Designing questionnaire 22 3.4 Sample and Data Collection 23 3.5 Analyzing data plan 23 3.6 Reliability analysis by Cronbach’s alpha 25 3.7 Exploratory factor analysis (EFA) 25 3.8 Regression analysis 26 CHAPTER RESULTS AND FINDINGS 28 4.1 Overview about Minh Thai Co Ltd 28 4.2 Analysis of financial performance of Minh Thai Company Limited in the period of 2018 - 2020 30 4.2.1 Analyze business results 30 4.3 Research results and analysis 39 4.3.1 Data description 39 4.3.2 Reliability analysis and scale 4.4 Exploratory Factor Analysis 4.4.1 Exploratory Factor Analysis of Affecting Factors Scale 4.4.2 Exploratory Factor Analysis of the financial performance Scale 4.5 Regression Analysis 10 4.5.1 Regression Analysis 10 4.5.2 Research model and hypotheses tested result 14 CHAPTER IV: RESULTS AND FINDINGS 16 5.1 Assessment of the financial performance through the distribution system at Minh Thai Co.,Ltd 16 5.2 The affecting factors on the performance of finance activities at Minh Thai Co.,Ltd 16 h 5.3 Suggestions to improve the financial performance at Minh Thai Co.,Ltd 17 5.3.1 Improve the inventory 17 5.3.2 Improve the operating expense 17 5.3.3 Improve the average collection period 18 CONCLUSION 20 REFERENCES 21 APPENDIX A: QUESTIONAIRE – VIETNAMESE VERSION 23 APPENDIX B: QUESTIONAIRE – ENGLISH VERSION 25 LIST OF TABLES Table 3.1 Hypotheses Table 3.2 Encoded Data Table 4.1 Minh Thai’s key performance indicator in the period of 2018-2020 Table 4.2 Revenue growth of Minh Thai Company Limited from 2018 – 2020 Table 4.3 The revenue stucture from sale of Minh Thai Co.,Ltd from 2018 – 2020 Table 4.4 Profit growth of Minh Thai Co., Ltd in the period of 2018 – 2020 Table 4.5 Structure of the company's profit before tax from 2018 – 2020 Table 4.6 The ability to generate profits of Minh Thai Co., Ltd from 2018 – 2020 Table 4.7 The performance of using asset of Minh Thai Co.,Ltd from 2018 – 2020 Table 4.8 The influence of factors on the efficiency of using fixed assets of the company in the period of 2018-2020 Table 4.9 The influence of factors on the efficiency of using short-term assets of the company in the period of 2018-2020 h Table 4.10 The profitability of Minh Thai Co.,Ltd in the period 2018 – 2020 Table 4.11 The influence of factors on the profitability of assets at Mainh Thai Co.,Ltd in the period 2018-2020 Table 4.12 The influence of factors on the ratio on sales at Minh Thai Co.,Ltd in the period 2018-2020 Table 4.13 The influence of factors on the profitability of equity at Minh Thai Co.,Ltd in the period 2018-2020 Table 4.14 The indicators of financial performance at Minh Thai Co., Ltd in the period 2018 – 2020 Table 4.15 Descriptive Analysis Table 4.16 Reliability of scale Table 4.17 Exploratory Factor Analysis of affecting factors to the financial performance at Minh Thai Co.,Ltd Table 4.18 Reliability statistics and exploratory factor analysis of affecting factors to the financial performance, 2nd time Table 4.19 Exploratory Factor Analysis of the Financial performance Scale Table 4.20 Partial correlation of regression coefficients – 1st time Table 4.21 Partial correlation of regression coefficients – 2nd time Table 4.22 Adjusted R square Table 4.23 ANOVA analyzing Table 4.24 The result of regression coefficients model – 2nd time Table 4.25 Hypotheses Tested Results Table 5.1 The financial performance at Minh Thai Co.,Ltd LIST OF FIGURES Figure 2.1 Dupont analysis model Figure 2.2 Financial coefficient tower model Figure 3.1 Hypotheses Figure 4.1 Overview of the distribution system of Minh Thai Co., Ltd Figure 4.2 Research module result LIST OF ABBREVIATIONS Return on Assets ROE Return on Equity ROS Return on Sales ACOP Average Collection Period CPVs Critical Profit Variables INV Inventory SAG Sales growth OPEX Operating expense ACOP Average collection period FP Financial performance h ROA CHAPTER 1: INTRODUCTION 1 Background of the study In order to stand firmly in the market and constantly develop under increasingly competitive conditions and scarce resources, a business needs to make effective use and evaluate their efficiency in using resources Among businesses, financial resources are always number one The financial resources to ensure the business operations to achieve the goals Or understand correctly, financial resources are the ability to mobilize capital to meet the business’ activities and the ability to ensure financial safety of the business From the perspective of capital management, the financial structure of the business is the ratio between Debt and Equity A financial structure is considered optimal when the average cost of capital is lowest, and at the same time the maximum value of the business Corporate financial efficiency is the efficiency of mobilizing, using and managing capital in business (Truong Ba Thanh and Tran Dinh Khoi Nguyen, 2001) In order to assess whether the financial structure of a business is optimal or not, whether to bring maximum value in financial performance or not, it is necessary to have targets to measure and evaluate financial indicators and financial performance logically The relationship between distribution system and financial performance of a business was h very positive and getting a lot of attention from academics Anderson et al (1997) suggests that the good performance of the distribution can reduce costs, increase revenue and efficiency and effectiveness of business assets used Better distribution system can assist the business in maintaining its relationship with customers by reducing cycle time required (Lambert and Pohlen, 2001) Other studies supporting the relationship between distribution and financial performance concluded that the cost of inventory and the quality very big influence on retail agencies (Schramm-Klein and Morschett, 2006) Meanwhile, research Shang and Marlow (2005) concluded that the financial performance of manufacturing firms increased due to their distribution system are improved Thus, the company can have more benefits from the improvement of logistics performance Some problems in the distribution network might occur, such as, production, inventory locations, and the placement of the warehouse Therefore, the decision- making process should take into account all the factors and improve coordination with all entities in order to improve business performance, the author chooses the topic: Impact of goods distribution system on financial performance: case of Minh Thai Co., Ltd” in order to propose suggestions to further improve the business results of the business as a research topic for my graduation thesis Regression analysis was conducted at the second time with result as following (see table 4.12 and table 4.13) Adjusted R-square value indicates that 72.3% of the variance in the financial performance at Minh Thai can be explained by three variables, namely INV, OPEX and ACOP Sig values of 000 and 001 It confirms that these three variables are reliable to determine effective level Hypotheses H2, H3 and H4 were all supported The regression function can be written as following Financial Performance = 0.677INV + 0.792OPEX + 0.641ACOP Positive coefficients indicate that financial performance has positive relationship with components including inventory (INV), Operating expense (OPEX) and Average Collection Period (ACOP) 4.5.2 Research model and hypotheses tested result From above analysis, theoretical model was investigated at Minh Thai Co.,Ltd and reconstructed with one dependent variable (FP) and three independent variables (INV, OPEX and ACOP) The new model was illustrated in following figure Figure 4.1 Research module result Inventory h Sales growth H1- not supported H2- supported The financial performance Operating expense H3- supported Average Colletion Period H4 - supported The hypotheses results are presented below: 14 Table 4.25: Hypotheses Tested Results Hypotheses Result H1: The SAG component has positively impact on the financial performance That means the higher/lower financial performance of Minh Thai Not Supported Co.,Ltd evaluates by the sales growth factor H2: The INV component has positively impact on the financial performance That means the higher/lower financial performance of Minh Thai Supported Co.,Ltd evaluates by the inventory H3: The OPEX component has positively impact on the financial performance That means the higher/lower financial performance of Minh Thai Supported Co.,Ltd evaluates by the operating expense h H4: The ACOP component has positively impact on the financial performance That means the higher/lower financial performance of Minh Thai Supported Co.,Ltd evaluates by the average colletion period In conclusion, by data selected from staffs at Minh Thai Co.,Ltd, this research built a regression model in which three components of affecting factors on the financial performance here (INV, OPEX and ACOP) have statistically positive impact on financial performance (FP) All hypotheses were supported by this result except hypothesis of sales growth components 15 CHAPTER IV: RESULTS AND FINDINGS This chapter answered research questions by providing assessment the factors of distribution system have been impacting on the financial performance at Minh Thai Co.,Ltd Besides, it will also give some suggestions to further improve the financial performance of company in the future 5.1 Assessment of the financial performance through the distribution system at Minh Thai Co.,Ltd This research is conducted to evaluate the financial performance at Minh Thai Co.,Ltd through the distribution system The main elements of finance were demonstrated to be highly reliable with four components extracted from exploratory factor analysis namely (1) sales growth, (2) inventory, (3) operating expense and (4) average collection period However, component sales growth did not show reliable statistically impact on the finance, so it was discarded from regression function The financial performance can be accessed through the distribution system scores These scores are INV, OPEX and ACOP are calculated by the mean of finance components Results of distribution scores are illustrated in following table: Table 5.1 The financial performance at Minh Thai Co.,Ltd h Mean score Minimum score Maximum score INV 3.6754 3.11 5.00 OPEX 4.1020 3.70 5.00 ACOP 3.6836 3.64 5.00 As table 5.1 indicated that, effectiveness scores for three components of financial practices at Minh Thai ranges from 3.6754 to 4.1020 Staffs assessed Minh Thai’s the financial performance at a fairly high level 5.2 The affecting factors on the performance of finance activities at Minh Thai Co.,Ltd The regression function which illustrates the influence factors of inventory, operating expense, average collection period on the efinancial performance at Minh Thai Co.,Ltd was written part 3.5.1 as following: FP = 0.677INV + 0.792OPEX + 0.641ACOP All hypotheses for these components were supported It was clear that three influence components together determine impact level on the financial performance at MinhThai 16 Co.,Ltd Although level of each factor’s impact is different, they are all important factors which are needed attention and further improvementthrough distribution system 5.3 Suggestions to improve the financial performance at Minh Thai Co.,Ltd 5.3.1 Improve the inventory - Control inventory levels: Owning a large amount of inventory augments the expenses and significantly increases overhead costs Minh Thai should precisely determine the needs for products that the company requires Try as much as you can to limit the annual list and reduce investing many resources on slow or never selling products Wit a managed list, Minh Thai Co.,Ltd can grant access to the distributor’s inventory data Purchase orders are generated by Minh Thai Co.,Ltd whenever needed It may remove data-entry mistakes, thereby managing the timing of purchase orders more effectively Besides, Minh Thai’s Co.,Ltd inventory manager is responsible for all of company’s products that are readily available on the ground and in transit too The inventory manager also specializes in performing changes and adjustments, such as return orders Furthermore, the inventory manager is able to assure that the products have been received, while also implementing inventory reporting methods h Derivery time: Purchase orders have different time ranges for delivering the products after placing an order A great way for managing inventory is to manufacture lead reports to better understand the amount of time required to replenish the products in the stock Delivery time is another effective way of managing the inventory turnover as well as delivery turnaround and this incorporates how often company weigh and measure the inventory investments as well as the estimated duration it takes Minh Thai Co.,Ltd should establish a system that can track “work-in-progress,” it can enable businesses to change and adjust the order amounts before the inventory gets diminished in sales and in turnaround too It means, better inventory management can reduce the chances of overstocking (leading to dead stock) or under-stocking It starts with improving operational visibility so Minh Thai Co.,Ltd can make better business decisions and boost cost efficiency 5.3.2 Improve the operating expense In order to improve the operational efficiency (and reduce costs overall), Minh Thai Co.,Ltd needs to get input from its staffs They’re the ones who know most about the 17 everyday processes and can lend some valuable insights into what might work, what might not and what needs to be improved Getting staff’s input also helps company get their buy-in and boosts employee morale as they feel more valued For improving the operating expense, Minh Thai Co.,Ltd should pay attention to: - Assess of facilities to reduce the operational expenses, examine company’s current processes and technology - Improve operational visibility: Company's visibility processes is about being able to access accurate, real-time data whenever company needs to and quickly pinpoint the products that require the most attention This data could be on any divisions of Minh Thai Co.,Ltd, from the asset performance and inventory levels, current supply and demand and supplier certifications The company's operations are more visible, the easier and quicker it can be to make changes to distribution system - even at short notice Creating a smart, connected system is one way to ensure complete visibility and boost efficiency at the same time - Reduce energy consumption: Energy consumption is often second to labour costs when it comes to operational expenses After your thorough assessment of the facility, h start making production decisions based on demand This can help company save on energy costs without compromising output, quality or customer satisfaction Some easy ways to reduce energy costs include: + Installing energy-efficient lighting + Overhauling or replacing old heating, ventilating and Air Conditioning systems + Training the staffs to be more mindful when it comes to energy efficiency + Setting a schedule for when high-powered machinery should run - Consolidate data: The more time company’s staffs are spending looking for data, the more time they’re not spending on their other tasks Tackle this by consolidating data into one location Combine this with technology, Minh Thai Co.,Ltd will see productivity, operations efficiency and costs improve 5.3.3 Improve the average collection period - Updated information is secret key An effective accounts receivable management practice should keep customer information up to date This saves time when trying to contact delinquent accounts It might even prevent the need for more expensive debtor location techniques, such as skip-tracing, down the road 18 - Simple and Timely Invoices: Company should try to make it as easy as possible for customers to make payments Minh Thai Co.,Ltd may send out reminders during the week prior to a contractually due payment date Others might provide simple electronic invoices or electronic payment functionality And customers are more likely to pay when the process is easy and lacks confusion - Payment Policy and Terms in the contract: Minh Thai Co.,Ltd should apply reasonable sales policies and forms: In the contract, company needs to draft a clear payment policy to limit problems arising from customers' debts, requires customers to the customer signs an agreement, stipulating the debt payment and clearly stating the penalty if the customer pays late; penalty interest should be charged for late payments to encourage customers to pay on time In addition, company can apply a payment discount policy to encourage goods to pay for purchases before the due date to avoid the risk of incurring receivables Company's average collection period should be writen on the terms and provisions laid out in the contract The contract requires that a customer makes payments every 30 days, then it follows that the average collection period will tend toward 30 days If the contract further stipulates h that a late fee is not assessed until the account is seven days delinquent, then it is likely that average collection periods will fall between 30 and 37 days and no more In order to achieve high efficiency in debt collection, company’s staffs must always be friendly with customers, firmly grasp the operation situation as well as other information about customers; At the same time, maintain a professional debt collection style, selfcontrol and focus, while handling, you must know how to make a request for repayment in a frank and serious manner 19 CONCLUSION In a nutshell, it can be said that the financial performance through distribution system at Minh Thai Co Ltd is quite good In overall, most of customers who are in business relationship with Minh Thai shared their satisfaction while using distribution service of company, especially in terms of product availability and flexibility of distribution policies However, there are many spaces for improvement as fundamental for company’s sustainable growth It can be said that Minh Thai has not pay enough attention to their business strategies instead of applying the massive strategy with the simple purpose of selling as many products as resulting financial performance is humble and there are their big gaps between different channels of distribution h 20 REFERENCES Denzin, N K., & Lincoln, Y S (2011) The SAGE Handbook of qualitative research ( 4th ed.) Los Angeles: Sage Publications Franklin, M I (2012) Understanding Research: Coping with the Quantitative-Qualitative Divide London/New York Routledge Gubrium, J F and J A Holstein (2009) Analyzing Narrative Reality Thousand Oaks, CA: Sage Kelly, M (2005) Primary and Secondary Data McKinnon Secondary College Kersting, W.C (2012) Distribution System Modelling and Analysis, Third Edition Taylor & Francis Group Pernecky, T (2016) Epistemology and Metaphysics for Qualitative Research London, UK: Sage Publications Rosenthal, Gabriele (2018) Interpretive Social Research: An Introduction Göttingen, Germany: Universitätsverlag Göttingen Schutt, R (2006) Investigating the Social World Sage Publications, p423- h 426,412-416 Sonntag, M (n.d) Product Distribution Strategy: The Ultimate Guide [Infographic] Retrieved 11th May 2010, from: https://www.repsly.com/blog/consumer-goods/everything-you-need-to-know-aboutproduct-distribution Tarver, E (2020) What Are Some Ways to Make a Distribution Channel More Efficient? 11th Retrieved May 2010, from: https://www.investopedia.com/ask/answers/071315/what-are-some-ways-makedistribution-channel-more-efficient.asp http://tapchitaichinh.vn/nghien-cuu-trao-doi/cac-chinh-sach-quan-tri-va-hieu-qua-taichinh-cua-doanh-nghiep-127557.html https://dnbvietnam.com/tu-van/cac-chi-so-danh-gia-doanh-nghiep.html https://phantichtaichinh.com/khai-niem-chuc-nang-vai-tro-cua-tai-chinh-doanhnghiep/ 21 https://voer.edu.vn/m/phan-tich-va-danh-gia-hieu-qua-tai-chinh-doanhnghiep/91f5433b https://www.sav.gov.vn/SMPT_Publishing_UC/TinTuc/PrintTL.aspx?idb=2&ItemID =1668&l=/noidung/tintuc/Lists/Nghiencuutraodoi https://docs.oracle.com/en/cloud/saas/financials/21a/ocuar/oracle-fusion-receivablesreports.html h 22 APPENDIX A: QUESTIONAIRE – VIETNAMESE VERSION Code: NVP… PHIẾU KHẢO SÁT CÁC YẾU TỐ TÁC ĐỘNG ĐẾN HIỆU QUẢ TÀI CHÍNH CẢU CƠNG TY TNHH MINH THÁI Anh/Chị vui lịng hồn thành gửi lại bảng câu hỏi vòng tám tuần Anh/Chị giữ giao trực tiếp cho người vấn Công ty TNHH Minh Thai muốn, anh/chị gửi lại trực tiếp qua đường bưu điện phong bì cung cấp Thông tin anh/chị cung cấp sử dụng cho mục đích thống kê xử lý cách tin cậy nghiêm ngặt theo quy định pháp luật Thông tin cá nhân vị trí Anh/Chị giữ kín kết công bố Cảm ơn giúp đỡ bạn Phần I: THÔNG TIN CHUNG Họ tên Anh/Chị (khơng bắt buộc): Giới tính: Tuổi: □ 25 tuổi □ 36-40 tuổi Bộ phận công tác: □ Nam □ Nữ □ 26-30 tuổi □ 31-35 tuổi □ 40 tuổi h □ Phòng kế hoạch tài □ Phịng tư vấn bán hàng □ Phịng hành nhân □ Phịng Marketing □ Phịng chăm sóc khách hàng □ Bộ phận kiểm soát chất lượng kho bãi Trình độ chun mơn □ Cao đẳng □ Đại học □ Trên đại học Thời gian công tác Anh/Chị công ty □ Dưới năm □ 1-3 năm □ – năm □ Trên năm Phần II: CÁC YẾU TỐ TÁC ĐỘNG ĐẾN HIỆU QUẢ TÀI CHÍNH TẠI CƠNG TY TNHH MINH THÁI Hãy cho biết mức độ đồng ý Anh/chị tác động yếu tố sau đến hiệu tài chsinh công ty TNHH Minh Thái cách đánh dấu  vào thích hợp bên 1= Hồn tồn khơng đồng ý; 2= Khơng đồng ý; 3= Đồng ý phần; = Đồng ý; = Hoàn toàn đồng ý N0 CÁC YẾU TỐ I – TĂNG TRƯỞNG BÁN HÀNG Khối lượng hàng hoá giao dịch Số tiền thu từ việc bán hàng Thời gian xử lý đơn hàng 23 5 10 11 12 13 14 15 16 17 18 19 20 21 h 22 23 Thời gian vận chuyển chi phí liên quan đến bán hàng Tiêu chí chăm sóc khách hàng đối tác II – QUẢN LÝ HÀNG TỒN KHO Số lượng hàng tồn kho hợp lý Giá trị hàng tồn kho hợp lý Chi phí quản lý hàng tồn kho hợp lý Chi phí thuê kho bãi hợp lý Chi phí kiểm kê hàng tồn kho hợp lý III - QUẢN LÝ CHI PHÍ HOẠT ĐỘNG Chi phí Marketing quảng cáo Chi phí phát triển mở rộng thị phần Chi phí vận chuyển hợp lý Chi phí giải khiếu nại phù hợp Chi phí sai sót giao hàng IV - QUẢN LÝ KỲ THU TIỀN BÌNH QUÂN Thời điểm khoản phải thu phù hợp Chi phí quản lý kỳ thu tiền bình qn Chính sách chi phí thu nợ tốn Chi phí cập nhật để thu khoản phải thu từ nợ Chi phí xử lý Biến động khoản phải thu Tỷ lệ trích lập dự phịng phải thu khó địi V – HIỆU QUẢ TÀI CHÍNH Hiệu tài chíinh cơng ty mức Anh/Chị hài lịng với hiệu tài công ty Phi 24 tg APPENDIX B: QUESTIONAIRE – ENGLISH VERSION CODE: NVP… QUESTIONAIRE FACTORS IMPACT ON THE FINANCIAL PERFORMANCE AT MINH THAI Co.,LTD Please complete and return this questionnaire within eight weeks You may keep it to hand to the Minh Thai Co.,Ltd interviewer or, if you prefer, return it directly by post in the prely-paid envelope provided The information you provide will be used solely for statistical purposes and will be treated in strict confidence in accordance with the laws Neither individual nor their position will ever be identified in the published results Thank you for your help PART I: GENERAL INFORMATION Full name (non-compulsory): □ Male Gender: Age: □ Female □ < 25 years old □ 26-30 years old □ 36-40 years old □ 31-35 years old □ > 40 years old Working Department: h □ Financial & Planning Deprtment □ Sales consulting department □ Administration and HR Department □ Marketing Department □ Customer care Department □ Warehousing and Quality Control Department Education □ College □ Undergraduate □ Graduate How long you work for company? □ < year □ 1-3 years □ – years □ > years PART II: THE FACTORS AFFECT ON THE FINANCIAL PERFORMANCE AT MINH THAI Co.,Ltd Please tell us your agreement level for following statements about the factors impact on the financial performance by tick in the appropriate box below = strongly disagree, = somewhat disagree, = neither agree nor disagree, = somewhat agree, = strongly agree N0 FACTORS I – SALES GROWTH Volume of goods in handling Revenue earned from sales Time of order processing is suitable 25 N0 FACTORS Time of delivery and payment are suitable Criterias for carring relationship between company and its partners are suitable II – INVENTORY Quantity of inventory is suitable Value of inventory is suitable Cost of inventory is reasonable Cost of renting warehouse is suitable 10 Cost of checking inventory is suitable 11 III – THE OPERATING EXPENSE PERCENTAGE Cost of Marketing and Advertisement 12 Cost of Developing and expanding the market share 13 Transportation cost is suitable 14 Cost of handiling complaint is suitable 15 Cost of mistakes in delivery h IV-THE AVERAGE COLLECTION PERIOD: 16 Time of Receivables is suitable 17 Cost of managinge average collection period 18 Cost of Debt collection and payment policies 19 Cost of Updating to collect receivables from debtor 20 Cost of Processing Fluctuations in receivables 21 Amount of Provision ratio for bad debts 22 V – THE FINANCIAL PERFORMANCE The financial performance of the company is fairy good 23 Are you satisfied with the company's financial performance? Questionnaire includes pages 26 APPENDIX C: DURBIN – WATSON TABLE h 27 APPENDIX D :THE DISTRIBUTION RESULT OF CHI- SQUARE ALPHA Chi-Square Alpha α 0.990 0.975 0.950 0.900 0.100 0.050 0.025 0.010 0.005 3.93E-05 0.0100 1.57E-04 0.0201 9.82E-04 0.0506 3.93E-03 0.1026 0.0158 0.2107 2.71 4.61 3.84 5.99 5.02 7.38 6.63 9.21 7.88 10.60 0.072 0.115 0.216 0.352 0.584 6.25 7.81 9.35 11.34 12.84 0.207 0.297 0.484 0.711 1.064 7.78 9.49 11.14 13.28 14.86 0.412 0.554 0.831 1.145 1.610 9.24 11.07 12.83 15.09 16.75 0.676 0.872 1.237 1.635 2.204 10.64 12.59 14.45 16.81 18.55 0.989 1.239 1.690 2.167 2.833 12.02 14.07 16.01 18.48 20.28 1.34 1.65 2.18 2.73 3.49 13.36 15.51 17.53 20.09 21.95 1.73 2.09 2.70 3.33 4.17 14.68 16.92 19.02 21.67 23.59 10 2.16 2.56 3.25 3.94 4.87 15.99 18.31 20.48 23.21 25.19 11 2.60 3.05 3.82 4.57 5.58 17.28 19.68 21.92 24.72 26.76 12 3.07 3.57 4.40 5.23 6.30 18.55 21.03 23.34 26.22 28.30 13 3.57 4.11 5.01 5.89 7.04 19.81 22.36 24.74 27.69 29.82 14 4.07 4.66 5.63 6.57 7.79 21.06 23.68 26.12 29.14 31.32 15 4.60 5.23 6.26 7.26 8.55 22.31 25.00 27.49 30.58 32.80 16 5.14 5.81 6.91 7.96 9.31 23.54 26.30 28.85 32.00 34.27 17 5.70 6.41 7.56 8.67 10.09 24.77 27.59 30.19 33.41 35.72 18 6.26 7.01 8.23 9.39 10.86 25.99 28.87 31.53 34.81 37.16 19 6.84 7.63 8.91 10.12 11.65 27.20 30.14 32.85 36.19 38.58 20 7.43 8.26 9.59 10.85 12.44 28.41 31.41 34.17 37.57 40.00 21 8.03 8.90 10.28 11.59 13.24 29.62 32.67 35.48 38.93 41.40 22 8.64 9.54 10.98 12.34 14.04 30.81 33.92 36.78 40.29 42.80 23 9.26 10.20 11.69 13.09 14.85 32.01 35.17 38.08 41.64 44.18 24 9.89 10.86 12.40 13.85 15.66 33.20 36.42 39.36 42.98 45.56 25 10.52 11.52 13.12 14.61 16.47 34.38 37.65 40.65 44.31 46.93 26 11.16 12.20 13.84 15.38 17.29 35.56 38.89 41.92 45.64 48.29 27 11.81 12.88 14.57 16.15 18.11 36.74 40.11 43.19 46.96 49.64 28 12.46 13.56 15.31 16.93 18.94 37.92 41.34 44.46 48.28 50.99 29 13.12 14.26 16.05 17.71 19.77 39.09 42.56 45.72 49.59 52.34 30 13.79 14.95 16.79 18.49 20.60 40.26 43.77 46.98 50.89 53.67 40 20.71 22.16 24.43 26.51 29.05 51.81 55.76 59.34 63.69 66.77 50 27.99 29.71 32.36 34.76 37.69 63.17 67.50 71.42 76.15 79.49 60 35.53 37.48 40.48 43.19 46.46 74.40 79.08 83.30 88.38 91.95 70 43.28 45.44 48.76 51.74 55.33 85.53 90.53 95.02 100.43 104.21 80 51.17 53.54 57.15 60.39 64.28 96.58 101.88 106.63 112.33 116.32 h 0.995 n 90 59.20 61.75 65.65 69.13 73.29 107.57 113.15 118.14 124.12 128.30 100 67.33 70.06 74.22 77.93 82.36 118.50 124.34 129.56 135.81 140.17 101 75.46 78.19 82.35 86.06 90.49 126.63 132.35 137.57 143.82 148.18 102 83.59 86.32 90.48 94.19 98.62 134.76 140.36 145.58 151.83 156.19 103 91.72 94.45 98.61 102.32 106.75 142.98 148.37 153.59 159.84 164.20 104 99.85 102.58 106.74 110.45 114.88 151.02 156.36 161.60 167.85 172021 105 107.98 110.71 114.87 118.58 123.01 159.03 164.39 169.61 175.86 180.22 28