کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
1017839 | 940318 | 2014 | 11 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Access to finance, working capital management and company value: Evidences from Brazilian companies listed on BM&FBOVESPA
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
کسب و کار و مدیریت بین المللی
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چکیده انگلیسی
In this research, we have analyzed the impact of financial leverage on the relationship between working capital and company value and how financial constraints on access to financing affect this relationship. In addition, we have analyzed the relationship between working capital and company value. Using a sample of Brazilian public companies listed on BM&FBOVESPA from 1995 through 2009, we found evidence for the following conclusions: an extra Real (R$) of investment in working capital is significantly less worth, on average, than an extra Real (R$) of investment in cash; and, on average, increasing the level of working capital at the beginning of a fiscal year reduces company value.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Business Research - Volume 67, Issue 5, May 2014, Pages 924–934
Journal: Journal of Business Research - Volume 67, Issue 5, May 2014, Pages 924–934
نویسندگان
Juliano Ribeiro de Almeida, William Eid Jr.,