A carregar...
Publicação
The impact of working capital management on profitability - a comparative analysis of German and Japanese automotive manufacturers
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 2.3 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
This study investigates the impact of Working Capital
Management (WCM) on profitability by analyzing six years of
quarterly data of German and Japanese automotive manufacturers.
Descriptive statistics and independent t-tests reveal significant
country differences. Japanese companies follow a more aggressive
WCM policy, expressed by a significantly lower Cash Conversion
Cycle (CCC) and a higher Return on Assets (ROA) than German
firms. The results of the correlation analysis and Ordinary Least
Squares regressions stress the importance of WCM. Managers of
automotive manufacturers can improve ROA by lowering CCC,
Days Sales Outstanding, and the share of current assets on total
assets.
Descrição
Palavras-chave
Cash conversion cycle Germany Working capital management Profitability Days inventory outstanding Days sales outstanding Days payable outstanding Covid-19 pandemic Japan Return on assets Automotive manufacturers