Publication: The speed of adjustment in net operating working capital: an international study
Authors
Baños Caballero, Sonia ; García Teruel, Pedro Juan ; Martínez-Solano, Pedro
item.page.secondaryauthor
Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Economía Financiera y Contabilidad
item.page.director
Publisher
Taylor & Francis Group
publication.page.editor
publication.page.department
DOI
https://doi.org/10.1080/02102412.2020.1864176
item.page.type
info:eu-repo/semantics/article
Description
© 2021.
Taylor and Francis Group. This document is made available under the CC-BY-NC 4.0 license http://creativecommons.org/licenses/by-nc /4.0/
This document is the submitted/accepted/ published version of a published Work that appeared in final form in Spanish Journal of Finance and Accounting. To access the final edited and published work see https://doi.org/10.1080/02102412.2020.1864176
Abstract
This paper analyses whether there are differences in the speed of adjustment in net operating working capital (NWC) across countries. Unlike prior research, which reported that the adjustment speed of any current item is always rapid, we find that the speed of adjustment to NWC targets depends on a country’s investor protection and financial development. Specifically, using a sample of firms from 30 countries, we show that NWC adjustment speeds vary across countries, and they are faster for companies that operate in countries with stronger investor protection and greater financial development.
publication.page.subject
Citation
Spanish Journal of Finance and Accounting, 50(4), pp. 423-440. 2021.
item.page.embargo
Collections
Ir a Estadísticas
Este ítem está sujeto a una licencia Creative Commons. http://creativecommons.org/licenses/by-nc/4.0/