文章基本信息

标题：Need for Capital Management and Capital Structure in the World Today
本地全文：下载
作者：Ali Keshtavar ; Mahmoud Moeinaddin ; Hasan Dehghan Dehnavi 等
期刊名称：International Journal of Modern Management Sciences
电子版ISSN：2168-5479
出版年度：2013
卷号：2
期号：2
页码：67-74
语种：English
出版社：Modern Scientific Press
摘要：Assets and debts or working capital of the economic entities are attracting significant attention in today’s challenging environment. The optimum management of the entities can be considered as a competitive advantage for the entities. An important question rises in academic and finance studies about whether working capital management and capital structure influence on the firm’s profitability. In this study, working capital management is tested in terms of different variables like inventory turnover, average collection period, average payment period, and cash conversion cycle, short-term debts to assets ratio, long- term debts to assets and total debts to total assets. There is an inverse relationship between working capital management and profitability. That is, reducing the average collection period, average payment period, inventory turnovers and cash conversion cycle lead to increasing profitability. The findings also reveal that there is a positive relationship between short-term debts to assets and profitability. This relationship also holds for the ratio of total debts to assets and profitability. However, the ratio of long-term debts to assets has a negative relationship with the profitability.
关键词：capital management; capital structure; profitability