Authors: | Goumas, Spyridon Rodosthenous, Maria Kalantonis, Petros |
Issue Date: | 1-Jan-2019 |
Conference: | 9th International Conference on the Economies of the Balkan and Eastern European Countries in the Changing World (EBEEC) 2017, Athens, Greece |
Book: | Economic and Financial Challenges for Eastern Europe: Proceedings of the 9th International Conference on the Economies of the Balkan and Eastern European Countries in the Changing World (EBEEC) |
Series: | Springer Proceedings in Business and Economics |
Keywords: | Cash conversion cycle, Firms’ size, Liquidity, Profitability |
Abstract: | It is commonly accepted that economic crisis has a negative effect on firms’ liquidity. Therefore, liquidity management has become critical for firms, in order to be able to pay their short-term debts. Cash conversion cycle is used in order to measure the average collection period and days of sales in inventories less days of payables outstanding (Keown et al., Foundations of finance: The logic and practice of Financial management. Upper Saddle River, NJ: Prentice Hall, 2003). The main purpose of this study is to explore the relationship between cash conversion cycle and firms’ financial performance in the era of financial crisis. For this purpose, we selected a sample of listed firms in the Athens Stock Exchange for the years 2012–2014, and using OLS regression, we investigated the impact of CCC on firms’ size. Our findings differ from those of relevant studies which explored firms in the periods before the financial crisis or firms of countries which have not been significantly affected by the financial crisis. |
ISBN: | 978-3-030-12169-3 |
ISSN: | 21987254 21987246 |
DOI: | 10.1007/978-3-030-12169-3_24 |
URI: | https://uniwacris.uniwa.gr/handle/3000/1310 |
Type: | Conference Paper |
Department: | Department of Accounting and Finance |
School: | School of Administrative, Economics and Social Sciences |
Affiliation: | University of West Attica (UNIWA) |
Appears in Collections: | Book Chapter / Κεφάλαιο Βιβλίου |
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