کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1002899 1481801 2014 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The impact of working capital management on firm profitability in different business cycles: Evidence from Finland
ترجمه فارسی عنوان
تأثیر مدیریت سرمایه کار بر سودآوری شرکت در دوره های مختلف کسب و کار: شواهد از فنلاند
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی

The recent economic downturn of 2007–2008 has brought renewed focus on working capital policies. In this paper we examine the role of business cycles on the working capital–profitability relationship using a sample of Finnish listed companies over an 18-year period. We find the impact of business cycle on the working capital–profitability relationship is more pronounced in economic downturns relative to economic booms. We further show that the significance of efficient inventory management and accounts receivables conversion periods increase during periods of economic downturns. Our results demonstrate that active working capital management matters and, thus, should be included in firms’ financial planning.

Working Capital Management, Profitability and Business Conditions.Figure optionsDownload as PowerPoint slide

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Research in International Business and Finance - Volume 32, August 2014, Pages 36–49
نویسندگان
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