Theoretical and Applied Economics
No. 12 / 2014 (601)
Is Cash Conversion Cycles Optimum in Turkish Listed Food-Beverage Firms?
Sakarya University, Turkey
Feyyaz ZEREN
Sakarya University, Turkey
Abstract. In this study, the optimality of cash conversion cycles of firms at foodbeverage index of BIST (Istanbul Stock Market) is investigated. Panel KSS unit root test developed by Uçar and Omay (2009), which is suitable for heterogeneous panels & for non-linear financial series and taking into account cross sectional dependence, is used in study with quarterly data spanning the period 2008-2013. Cash levels of 13 firms among 15 are observed non-optimal by the aid of Sequential Panel Selection Method (SPSM) developed by Chortareas and Kapetanios (2009). This results show most firms at food-beverage index do not pursue a balanced working capital policy.
Contents
Data mining of transactional data for sales of dairy products
Research on the evolution of controlling tasks and their delimitation from audit tasks
Franchise’s place within sustainable development matrix: an Institutional Economics approach
Sensory experience – between the tourist and the marketer
Covering the social costs of market failure – the unsub of the value added
Determinants of capital structure: comparison of empirical evidence for the use of different estimators
How can Africa attract different forms of capital flow: theoretical perspectives
Legal and Practical Aspects of the Associations between the City of Bucharest and the Large Territorial Collectivities – Actuality and Perspective
Psychological biases and the capital structure decisions: a literature review
The Role of “After School” Units in Romania’s Rural Areas
Is Cash Conversion Cycles Optimum in Turkish Listed Food-Beverage Firms?
Comparative analysis of the financial discount rate and of the net present value of a public investment project throughout its life