THE RELATIONSHIP BETWEEN WORKING CAPITAL AND ECONOMIC VALUE ADDED: A RESEARCH IN BORSA İSTANBUL
Journal Title: Muhasebe ve Vergi Uygulamaları Dergisi - Year 2019, Vol 12, Issue 1
Abstract
Many of the studies about the impact of working capital on profitability have found a significant relationship between cash conversion cycle and its components with profitability. In addition, the difference between working capital and short-term liabilities is net working capital that is expressed also as employed capital which is the sum of net working capital and fixed assets. The relationship between working capital, profitability and net working capital can be evidence that the effect of the working capital on performance measurement methods may also be influenced. The purpose of this study is to investigate the effect of working capital components on the Economic Value Added (EVA). BIST manufacturing sector companies which are listed from 2009 to 2016 are in the scope of analysis. Multiple regression models have been developed as analysis method. Independent variables are net working capital, days receivables outstanding, days inventory outstanding, days payables outstanding and cash conversion cycle. The dependent variable is EVA. Also control variables include firm size, leverage ratio and current ratio.
Authors and Affiliations
Emre KAPLANOĞLU, Canan YÜKÇÜ
Keywords
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- EP ID EP414612
- DOI 10.29067/muvu.340632
- Views 119
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