In this paper, we subdivide the sample of manufacturing companies listed in two stock exchanges in China from the year 2000 to 2009 into two categories： the firms which adopted the similar financial models and those which did not. Then we use t-test and nonparametric test to explore the differences between the two sub-samples in cash management, assets and liabilities structures, assets turnover ratios, profitability, liquidity and growth rates. The results show that the former has shorter Cash Conversion Cycle （CCC）, quicker assets turnover, higher Debt Ratio （DR）, higher growth rate and thus has better profitability. In addition, the regression analysis results further demonstrate that Return on Invested Capital （ROIC） of similar-financial-model firms are positively related to Net Profit Margin （NPM） （p 〈 0.01）, and negatively to CCC （p 〈 0.01）, Interest Expense Ratio （IER） （p 〈 0.01）, the Ratio of Interest-Bearing Debt to Total Liabilities （IBDR） （p 〈 0.01） and the ratio of Net Receivables to Sales Revenue （NRSR） （p 〈 0.01）. Moreover, negative relationship between ROIC and dummy variable GROUP implies that the former has better profitability than the latter.
We determine replenishment and sales decisions jointly for an inventory system with random demand, lost sales and random yield. Demands in consecutive periods are independent random variables and their distributions are known. We incorporate discretionary sales, when inventory may be set aside to satisfy future demand even if some present demand may be lost. Our objective is to minimize the total discounted cost over the problem horizon by choosing an optimal replenishment and discretionary sales policy. We obtain the structure of the optimal replenishment and discretionary sales policy and show that the optimal policy for finite horizon problem converges to that of the infinite horizon problem. Moreover, we compare the optimal policy under random yield with that under certain yield, and show that the optimal order quantity （sales quantity） under random yield is more （less） than that under certain yield.
