RELATIONSHIP BETWEEN WORKING CAPITAL MANAGEMENT AND PROFITABILITY - EMPIRICAL EVIDENCE FROM VIETNAMESE LISTED FIRMS

被引：0

作者：

Tu Thi Kim Thoa ^{[1
]}

Nguyen Uyen, T. U. ^{[1
]}

机构：

[1] Univ Econ Ho Chi Minh City, Ho Chi Minh City, Vietnam

来源：

PROCEEDINGS OF THE 1ST INTERNATIONAL CONFERENCE ON FINANCE AND ECONOMICS 2014 | 2014年

关键词：

working capital management; cash conversion cycle; profitability; Vietnam;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper is aimed at investigating relationship between working capital management and profitability by using Generalized Least Square (GLS) and Fixed Effect Model (FEM) on a panel data of 208 companies listed on the both Ho Chi City Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX) for the period from 2006 to 2012. We found significant negative relationships between cash conversion cycle, receivable period, inventory period and payable period and gross operating profit. This means that board of management can improve the firm profitability by shortening receivable period, inventory period or cash conversion cycle to an optimal level. The results of industry analysis suggested the effect of economic sector on relationship between working capital management and profitability.

引用

页码：731 / 740

页数：10

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