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中小企业营运资金管理中英文对照外文翻译文献
中小企业营运资金管理中英文对照外文翻译文献
中小企业营运资金管理中英文对照外文翻译文献
中小企业营运资金管理中英文对照外文翻译文献
(文档含英文原文和中文翻译)
(文档含英文原文和中文翻译)
中小企业营运资金管理中英文对照外文翻译文献
中小企业营运资金管理中英文对照外文翻译文献
原文：
原文：
Effects of working capital management on SME profitability
Effects of working capital management on SME profitability
Abstract
Abstract
The objective of the research presented here is to provide empirical evidence
The objective of the research presented here is to provide empirical evidence
about the effects of working capital management on ptrhoef itability of a sample of
about the effects of working capital management on ptrhoef itability of a sample of
small and medium-sized Spanish firms. With this in mind, we collected a panel of
small and medium-sized Spanish firms. With this in mind, we collected a panel of
8,872 SMEs covering the period 1996-2002. The results, which are robust to the
8,872 SMEs covering the period 1996-2002. The results, which are robust to the
presence of endogeneity, demonstrate that managers can create value by reducing
presence of endogeneity, demonstrate that managers can create value by reducing
their firm’s number of days accounts receivable and inventories. Equally, shortening
their firm’s number of days accounts receivable and inventories. Equally, shortening
the cash conversion cycle also improves the firm’s profitability.
the cash conversion cycle also improves the firm’s profitability.
Introduction
Introduction
The corporate finance literature has traditionally focused on the study of
The corporate finance literature has traditionally focused on the study of
long-term financial decisions. Researchers have particularl
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