305关于公司企业资金现金流量财务绩效有关 的外文文献翻译成品：现金流管理与制造公司的财务绩效 一个纵向视角（中英文双语对照）15.docx

此文档是毕业设计外文翻译成品（ 含英文原文+中文翻译），无需调整复杂的格式！下载之后直接可用，方便快捷！本文价格不贵,也就几十块钱！一辈子也就一次的事！ 外文标题：Cash Flow Management and Manufacturing Firm Financial Performance: A Longitudinal Perspective 外文作者：James Kroes , Andrew S. Manikas 文献出处: Int. J. Production Economics 148 (2018) 37 –50 (如觉得年份太老，可改为近2年，毕竟很多毕业生都这样做) 英文6025单词，38944字符(字符就是印刷符)，中文8952汉字。（如果字数多了，可自行删减，大多数学校都是要求选取外文的一部分内容进行翻译的。） Cash Flow Management and Manufacturing Firm Financial Performance: A Longitudinal Perspective ABSTRACT:A firm’s cash flow policies, which manage working capital in the form of cash receivables from customers, inventory holdings, and cash payments to suppliers, are inexorably linked to the firm’s operations. Building on earlier research, this study: (i) extends prior studies by examining the relationships between changes in cash flow measures and changes in firm financial performance using a longitudinal sample of firm data; and (ii) investigates the direction of the relationship between quarterly changes in cash flow positions and firm financial performance. This study is conducted using the Generalized Estimating Equations (GEE) methodology to analyze a longitudinal sample of eight quarters of cash flow and financial performance data from 1,233 manufacturing firms. The analyses find that changes in the widely used Cash Conversion Cycle (CCC) metric do not relate to changes in firm performance; however, changes in the less used Operating Cash Cycle (OCC) metric are found to be significantly associated with changes in Tobin’s q. This examination of how changes in specific cash flow measures relate to changes in Tobin’s q shows that both reductions in Accounts Receivables (measured as Days of Sales Outstanding [DSO]) and reductions in Inventory (measured as Days of Inventory Outstanding [DIO]) relate to firm financial performance improvements that persist for several quarters. Endogeneity tests of whether a firm’s cash flow management strategy leads to changes in firm performance or if the cash flow str