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Does working capital management impact profitability in xthe medical device industry? Evidence from Germany and the United States
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Resumo(s)
This Work Project analyses the effect of working capital management (cash conversion cycle
and its components) on profitability (gross profit margin) for the medical device industry, an
industry not previously researched. It uses a sample of 151 observations from market leaders
of the world (United States) and Europe (Germany) for the period 2016-2020. Findings
indicate that managers may extend cash conversion cycle and days inventory outstanding to
increase gross profit margin. German managers may also reduce days sales outstanding and
expand days payable outstanding, while managers in the United States may not consider them
due to insignificance.
Descrição
Palavras-chave
Cash conversion cycle Germany United States Financial statement analysis Working capital management Profitability Medical devices Gross profit margin Days inventory outstanding Days sales outstanding Days payable oOutstanding