营运资金管理对不同商业周期成本领先和差异化战略企业财务绩效的影响:来自新西兰的证据

Q3 Business, Management and Accounting

Journal of Asia-Pacific Business Pub Date : 2021-01-02 DOI:10.1080/10599231.2021.1866398

Rashid Ameer, Radiah Othman

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引用次数: 4

摘要

摘要我们研究了2005年至2017年期间新西兰营运资本管理对财务业绩的影响。我们的实证分析提供了营运资金管理和财务业绩之间非线性关系的证据。此外，我们的发现似乎表明，成本领先战略公司在管理营运资本方面比差异化战略公司更有效率。具体而言，我们的研究结果表明，具有成本领先战略的公司的经理通过将净交易周期缩短40天来创造更多价值。鉴于贸易应收账款和存货对企业生存的重要性，我们的研究对管理它们有启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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The Impact of Working Capital Management on Financial Performance of Cost Leadership and Differentiation Strategy Firms in Different Business Cycles: Evidence from New Zealand

ABSTRACT We examine the impact of managing working capital on financial performance in New Zealand over the period of 2005 to 2017. Our empirical analysis provides evidence of a nonlinear relationship between working-capital management and financial performance. In addition, our finding seems to suggest that a cost leadership strategy firm is more efficient at managing working capital than a differentiation strategy firm. Specifically, our findings imply that managers of the firms with a cost-leadership strategy created more value by reducing net-trade cycle by 40 days. Our research has implications for managing trade receivables and inventories given their importance for firms’ survival.

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来源期刊

Journal of Asia-Pacific Business Business, Management and Accounting-Business and International Management

CiteScore

2.50

自引率

0.00%

发文量

期刊介绍： Present circumstances underscore the need to improve the understanding of conducting business with and within the Asia-Pacific countries. The Journal of Asia-Pacific Business™ provides a blend of cutting-edge knowledge and practical applications on business management and marketing strategy. In the Journal of Asia-Pacific Business™, you will find articles and feature sections that provide a pragmatic view of the business environment in this dynamic region. This essential resource offers readers a good blend of descriptive, conceptual, and theoretical articles dealing with current topics.