中文摘要：

选取2007～2010年沪深两市的制造业上市公司为研究对象，利用快速聚类分析法和多元线性回归分析法对这些公司的营运资本管理政策进行实证研究。结果表明，上市公司总体上仍然倾向于采取保守型或中庸型的营运资本管理政策；营运资本管理政策对公司经营业绩具有显著影响，并且营运资本投资政策较融资政策对经营业绩的影响程度更大。

英文摘要：

Manufacturing listed companies in Shanghai and Shenzhen Stock Exchanges from 2007 to 2010 are chosen as the research objects, and an empirical study is made on the operating capital management policy of the companies by using K - means cluster analysis and multiple linear regression analysis. Results show that listed companies, in general, tend to take conservative and golden mean operating capital management policy; operating capital management policy does significantly influence corporate performance, in particular the influence of operating capital investment policy over financing policy.