Capital turnover refers to cyclicalCapital cycle。The motive of capital is to seizesurplus value, but the surplus value must be obtained through the circular movement of capital, soIndustrial capitalAfter completing a cycle, it will immediately start a new cycle, and this process will be repeated continuously.From the advance of capital in a certain formProduction processandCirculation processIt is a turnover of industrial capital until capital is multiplied and reverted in the same form.Capital inProduction fieldThe time ofProduction time, capital inCirculation fieldTime is called capitalCirculation time, which together constitute the industrial capitalTurnaround time。[1]
Capital turnover andCapital cycleBothIndustrial capitalSports, includingCirculation processAnd the production process, the production and realization of surplus value.The turnover and circulation of capital are closely linked.Turnover is a cycle that goes on repeatedly. If the cycle of capital is regarded as a cyclical process, it is capital turnover.
Difference between the two
The study of capital cycle focuses on the three stages of a turnover and the following stepsMonetary capital、Productive capital、Commodity capitalThese three forms and how they perform the function of capital, focusing on a single cycle;The study of capital turnover focuses on the speed of continuous circulation, that is, the length of each turnover time, the number of turnover times per year, and the impact of turnover speed on the amount of capital andResidual valueImpact.
Times Time
The turnover of industrial capital once went through a certain period of time.Start from a functional form of capital, such asMonetary capitalStart to move until the capitalValue proliferationLater, it returned in the form of monetary capital, completing a capital turnover.The time it has experienced, including the capital positionProduction fieldProduction time, plus capitalCirculation fieldOfCirculation time, calledCapital turnover time。differentIndustrial sectorThere are different turnaround times;Even in the same industry sector, different enterprisesProduction conditionsThe difference between the advanced level and transportation conditions will also make the turnover time different.
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Difference
Capital turnover
becauseCapital turnover timeincludeProduction timeandCirculation time, the former includesDuring labor, receivednatural forceTime andMeans of productionThe time of reserve, the latter includes the time of sale and the time of purchase, so there are many factors affecting capital turnover.The length of the working period depends on the nature of the product itself, production scaleProduction technologyHorizontalMechanization degree、Labor organizationRationalization andbusiness managementLevel and other factors.Generally speaking,heavy industryProduct ratiolight industryThe labor period of the product is long.Time andReserves of means of productionTime, mainly in industries related to biological growth, chemical change or waiting for drying, such as planting, breedingWine making industry, tanning industry, bleaching industry, ceramic industry, wood industry, etc.The application of new scientific and technological achievements in modern biology, chemistry and physics in production has greatly shortened the time in this regard.The factors affecting the circulation time areMarket distance、Transportation, telecommunication conditions andcredit system 。InformativeSatellite propagation,Microwave communicationApplication of technology, aviationcontainer transportandexpresswayThe development of credit card and the popularity of credit card have shortened the circulation time to a certain extent.The best-selling or unsalable products also have a great impact on the length of circulation time.
fixed capitalIt is reflected in plant, machinery, equipment, tools, etcLabor materialsOf the productive capital.It's inMaterial formAll of them participate in production, maintain the original form for a long time, and continue toProduction processPlay a role in;And inForm of valuePart by part, however, is transferred to the product until the physical form no longer plays a role in completing its first cycle.The circulation form of fixed capital is notuse valueFormal circulation is not the change of material form, but the transfer of value, and the transferred value should be taken asdepreciation chargeSave inMonetary capitalIn form, material renewal is not carried out until the value is completely transferred, that is, the centralized monetary capital is transformed intoProductive capital。
working capitalIt consists of raw materials, fuelsAuxiliary materials, packaging materials, etcObject of laborAnd labor force.The unchanged part of the product will complete its material form change in one production process, and the value will be transferred to the product at the same time;The variable part isvalue of labor powerAlthough it is not transferred to the product, it will be produced again in a production processProduct valueA part of.
It can be seen that the turnover speed of fixed capital and working capital is different. The turnover speed of fixed capital is slow and the turnover speed of working capital is fast.The turnover speed of each part of the fixed capital is also different. Common tools are turnover once every two or three years, machines are turnover once every five or eight years, and the turnover time of factory buildings is longer.The proportion of fixed capital in the total prepaid capital is large, and the capital turnover is slow;On the contrary, if the proportion of working capital is large, the capital turnover will be fast.
Turnaround time
Capital turnover timeIt is another important factor affecting the speed of capital turnover.Because the time of capital turnover, that is, the duration of capital turnover, is also composed of many parts.In a big way, it consists ofProduction timeAnd circulationTime compositionThe time of production and circulation of capital itself has many components.The turnover time of each component of different capital is different, which will affect the capitalMovement speed。Specifically, it includes: First,During labor, means certainProduction departmentInterrelated working days and hours required to provide a product.The length of working period will affect the speed of capital turnover.(Many textbooks in China have changed the working period intoWorking hours, this isinaccurateOf.Labor time determines the value of commodities. The number of workers should be included in the calculation of labor time, while the number of workers is not included in the calculation of labor period.)Second, non working time is another part of production time.Non working time includesLabor processThe time of normal interruption is normalDowntime, natural action time and storage time of means of production.To shorten the turnover time and accelerate the turnover speed, not only the labor time should be shortened as far as possible, but also the gap between production time and labor time should be shortened as far as possible.Third, circulation time, including purchase time and sale time.The main factors affecting the length of circulation time areMarket supply and demand, the distance between the manufacturer and the market, and the transportation andInformation conditionsEtc.In order to shorten the circulation time, it should be changedTransportation conditionsStrengthen the marketInformation collection, improveProduct market competitionForce, etc.
Annual surplus value
Capital turnover
Capital turnover speed vssurplus valueThe production of has a great impact.It first affects the amount of capital prepaid.The turnover speed is several times faster, which is equivalent to increasing the amount of capital several times. Therefore, as long as the turnover speed is accelerated, it can replace the increase of capital and save moneyPrepaid capitalRole of.Secondly, it affects the production of surplus value.stayResidual value ratioIn case of confirmation,Annual residual valueIt is directly proportional to the speed of capital turnover, that is, the number of times of capital turnover per year.If the turnover speed of a capital is slow, that is, the turnover times are small, it will bringTotal surplus valueAlso less;Fast turnover, that is, more turnover times, the total amount of surplus value brought by a year is also more.The total residual value of one year is the same as that of prepaid capitalVariable capitalThe proportion of the quantity of is calledrate of annual surplus value, which is equal to the product of surplus value rate and capital turnover speed.What capital seeks is to reflecttime factorAnnual residual value rate andprofit marginTherefore, capitalists always try their best to shortenProduction timeAnd circulation time to speed up capital turnover and save prepaid capital in order to capture more surplus value.
In order to speed up the turnover of capital and pursue a higher annual surplus value rate, the capitalists, on the one hand, adopt new technologies, on the other hand, they also adopt measures to speed up the machine speed and speed upConveyor beltOperation and implementation day and nightShift systemAnd other measures to strengthen the exploitation of employed workers.As a result, the trend of unlimited expansion of production andConsumption capacityThe contradiction between relatively narrow and small, andbourgeois classThe contradiction with the working class is more acute.
First,Socialist enterpriseOnly by accelerating the turnover of funds can we save advance funds and increase profits.
Second, to speed up capital turnover, we must shortenProduction timeAnd circulation time.The main approach is to improve production technology andlabour productivity, timely reserve, reduce blind production, balance production and marketing, develop transportation, communication andcredit system , improveFixed capitalUtilizationEtc.
Capital turnover time
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CapitalProduction timeAnd circulation time.It contains the totalcapital valueOne ofCyclicThe total process is the interval time from one cycle to the next.SpecificallyMonetary capitalConvert toProductive capitalThe circulation time, plus the production time from production capital to commodity capital, plus the circulation time from commodity capital to monetary capital.Capital turnover timeyesPrepaid capitalThe amount has a great impact, and the turnover time is shortened, which can save the amount of prepaid capital.The shorter the capital turnover timereenterThe next turnover will be faster, without the need to invest additional prepaid capital during the waiting period before the turnover cycle ends.Capital turnover time versus capitalValue proliferationIt also has a great impact,Residual value ratioThe same number of capital, of which the turnover time is short, can quickly obtain the same amount of residual value.Therefore, it is obtained in unit time (one year or one month)Total surplus valueMore.For example, two enterprises with the same capital volume and residual value ratio have different capital turnover times, one is three months, the other is 30 months. In unit time, the total amount of residual value obtained by the former is ten times that of the latter.Therefore, shortening the capital turnover time is an important means to promote the growth of capital value.
The length of capital turnover time is determined by the length of production time and circulation time.In terms of production, it depends on the length of working time and the availability of time under the action of natural forces. Generally speaking,shipbuilding industrythantextile industryThe production time is long, and forestry is limited by natural forces, and the production time is also relatively long.In addition, the length of production time also depends ontechnical equipment、Operation managementandlabour productivityLevel.In terms of circulation, it depends on the origin of raw materials and fuels and the distance of the sales market. The closer the distance is, the less turnover time will be saved;It also depends on transportation, communication equipment andInformation network systemThe more advanced these conditions are, the less turnover time will be saved.the Second World WarLater, especially in recent years, with the newScientific and technological revolutionComputer, robot, modern telecommunications, container transportation, loading and unloading, information technology, etc. have all provided material conditions for shortening production time and circulation time, thus shortening the time of capital turnover.butcapitalismOfbasic contradictionBut it is obstructingMarketing, which delays the circulation time and is not conducive to shortening the turnover time.
