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EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008)

Yıl 2010, Cilt: 2 Sayı: 2, 47 - 54, 01.12.2010

Öz

Working capital management is one of the essential determinants of firms’ market value because it directly affects profitability. And, working capital management is also extremely crucial from the point of firms’ sustainability. Hence, firms should establish a fine balance between profitability and risk when it comes to managing working capital. This paper mainly aims to provide some empirical evidence on the effects of working capital management on the profitability of selected companies in the Istanbul Stock Exchange for the period of 2005-2008. The panel data methods are employed in order to analyze the mentioned effects

Kaynakça

  • Baltagi, Badi (2001), Econometric Analysis of Panel Data, Chichester: John Wiley & Sons.
  • Chiou, Jeng-Ren, Li Cheng and Han-Wen Wu (2006), “The Determinants of Working Capital
  • Management”, Journal of American Academy of Business, Vol. 10, Issue 1, pp. 149-155. Deloof, Marc (2003), “Does Working Capital Management Affect Profitability of Belgian
  • Firms?”, Journal of Business Finance and Accounting, Vol. 30, Issue 3/4, pp. 573-587. Eljelly, Abuzar M. A. (2004), “Liquidity – Profitability Tradeoff: An Empirical Investigation in an
  • Emerging Market”, International Journal of Commerce and Management, Vol. 14, No. 2, pp. 48- Filbeck, Greg and Krueger, Thomas M. (2005), “An Analysis of Working Capital Management
  • Results Across”, Mid-American Journal of Business, Vol. 20, Issue 2, pp. 11-18. Garcia-Teruel, Pedro Juan and Pedro Martinez-Solano (2007), Effects of Working Capital
  • Management on SME Profitability”, International Journal of Managerial Finance, Vol. 3, No. 2, pp. 164-177. Lazaridis, Ionannis and Dimitrios Tryfonidis, (2006) “Relationship Between Working Capital
  • Management and Profitability of Listed Companies in the Athens Stock Exchange”, Journal of Financial Management and Analysis, Vol. 19, No. 1, pp. 26-35. Hausman, Jerry (1978), “Specification Tests in Econometrics”, Econometrica, Vol. 46, No. 6, pp.1251-1271.
  • Nazir, Mian Sajid and Talat Afza (2009), “Working Capital Requirements and the Determining
  • Factors in Pakistan”, Journal of Applied Finance, Vol. 15, Issue 4, pp. 28-38. Padachi, Kesseven, , M. S. Narasimhan, R. Durbarry and C. Howorth (2008), “An Analysis of
  • Working Capital Structure and Financing Pattern of Mauritian Small Manufacturing Firms”, Journal of Applied Finance, Vol. 14, Issue 7, pp. 41-62. Ricci, Cecilia and Nino Di Vito (2000), “International Working Capital Practices in the UK”,
  • European Financial Management, Vol. 6, Issue 1, pp. 69-84. Sathyamoorthi, C. R. and L. B. Wally-Dima (2008), “Working Capital Management: The Case of
  • Listed Retail Domestic Companies in Botswana”, Journal of Management Research, Vol. 7, Issue , pp. 7-24. Schilling, George (1996), “Working Capital's Role in Maintaining Corporate Liquidity”, TMA
  • Journal, Vol. 16, Issue 5, pp. 4-7. Shin, H. H., and Soenen, L. (1998), “Efficiency of Working Capital Management and Corporate
  • Profitability”, Financial Practice and Education, Vol. 8, No. 2, pp. 37-45. Stewart, Tammy (2009), “Creating Working Capital and Cash Flow Efficiencies”, Alaska Business
  • Monthly, Vol. 25, Issue 10, pp. 16-17. Wooldridge, Jeffrey (2002), Econometric Analysis of Cross-section and Panel Data, Cambridge: The MIT Press.
  • Yadav, Rakesh, Vani Kamath and Pradip Manjrekar (2009), “Working Capital Management: A
  • Study Of Maharashtra's Bulk Drugs Listed Companies”, Chemical Business, Vol. 23 Issue 7, pp. 34. Zariyawati, M. A., M. N. Annuar, H. Taufiq and A. S. Abdul Rahim (2009), “Working Capital
  • Management and Corporate Performance: Case of Malaysia”, Journal of Modern Accounting and Auditing, Vol. 5, Issue 11, pp. 47-54.
Yıl 2010, Cilt: 2 Sayı: 2, 47 - 54, 01.12.2010

Öz

Kaynakça

  • Baltagi, Badi (2001), Econometric Analysis of Panel Data, Chichester: John Wiley & Sons.
  • Chiou, Jeng-Ren, Li Cheng and Han-Wen Wu (2006), “The Determinants of Working Capital
  • Management”, Journal of American Academy of Business, Vol. 10, Issue 1, pp. 149-155. Deloof, Marc (2003), “Does Working Capital Management Affect Profitability of Belgian
  • Firms?”, Journal of Business Finance and Accounting, Vol. 30, Issue 3/4, pp. 573-587. Eljelly, Abuzar M. A. (2004), “Liquidity – Profitability Tradeoff: An Empirical Investigation in an
  • Emerging Market”, International Journal of Commerce and Management, Vol. 14, No. 2, pp. 48- Filbeck, Greg and Krueger, Thomas M. (2005), “An Analysis of Working Capital Management
  • Results Across”, Mid-American Journal of Business, Vol. 20, Issue 2, pp. 11-18. Garcia-Teruel, Pedro Juan and Pedro Martinez-Solano (2007), Effects of Working Capital
  • Management on SME Profitability”, International Journal of Managerial Finance, Vol. 3, No. 2, pp. 164-177. Lazaridis, Ionannis and Dimitrios Tryfonidis, (2006) “Relationship Between Working Capital
  • Management and Profitability of Listed Companies in the Athens Stock Exchange”, Journal of Financial Management and Analysis, Vol. 19, No. 1, pp. 26-35. Hausman, Jerry (1978), “Specification Tests in Econometrics”, Econometrica, Vol. 46, No. 6, pp.1251-1271.
  • Nazir, Mian Sajid and Talat Afza (2009), “Working Capital Requirements and the Determining
  • Factors in Pakistan”, Journal of Applied Finance, Vol. 15, Issue 4, pp. 28-38. Padachi, Kesseven, , M. S. Narasimhan, R. Durbarry and C. Howorth (2008), “An Analysis of
  • Working Capital Structure and Financing Pattern of Mauritian Small Manufacturing Firms”, Journal of Applied Finance, Vol. 14, Issue 7, pp. 41-62. Ricci, Cecilia and Nino Di Vito (2000), “International Working Capital Practices in the UK”,
  • European Financial Management, Vol. 6, Issue 1, pp. 69-84. Sathyamoorthi, C. R. and L. B. Wally-Dima (2008), “Working Capital Management: The Case of
  • Listed Retail Domestic Companies in Botswana”, Journal of Management Research, Vol. 7, Issue , pp. 7-24. Schilling, George (1996), “Working Capital's Role in Maintaining Corporate Liquidity”, TMA
  • Journal, Vol. 16, Issue 5, pp. 4-7. Shin, H. H., and Soenen, L. (1998), “Efficiency of Working Capital Management and Corporate
  • Profitability”, Financial Practice and Education, Vol. 8, No. 2, pp. 37-45. Stewart, Tammy (2009), “Creating Working Capital and Cash Flow Efficiencies”, Alaska Business
  • Monthly, Vol. 25, Issue 10, pp. 16-17. Wooldridge, Jeffrey (2002), Econometric Analysis of Cross-section and Panel Data, Cambridge: The MIT Press.
  • Yadav, Rakesh, Vani Kamath and Pradip Manjrekar (2009), “Working Capital Management: A
  • Study Of Maharashtra's Bulk Drugs Listed Companies”, Chemical Business, Vol. 23 Issue 7, pp. 34. Zariyawati, M. A., M. N. Annuar, H. Taufiq and A. S. Abdul Rahim (2009), “Working Capital
  • Management and Corporate Performance: Case of Malaysia”, Journal of Modern Accounting and Auditing, Vol. 5, Issue 11, pp. 47-54.
Toplam 19 adet kaynakça vardır.

Ayrıntılar

Diğer ID JA77ZD28MU
Bölüm Makaleler
Yazarlar

Hasan Agan Karaduman Bu kişi benim

Halil Emre Akbas Bu kişi benim

Arzu Ozsozgun Bu kişi benim

Salih Durer Bu kişi benim

Yayımlanma Tarihi 1 Aralık 2010
Yayımlandığı Sayı Yıl 2010 Cilt: 2 Sayı: 2

Kaynak Göster

APA Karaduman, H. A., Akbas, H. E., Ozsozgun, A., Durer, S. (2010). EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008). International Journal of Economics and Finance Studies, 2(2), 47-54.
AMA Karaduman HA, Akbas HE, Ozsozgun A, Durer S. EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008). IJEFS. Aralık 2010;2(2):47-54.
Chicago Karaduman, Hasan Agan, Halil Emre Akbas, Arzu Ozsozgun, ve Salih Durer. “EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008)”. International Journal of Economics and Finance Studies 2, sy. 2 (Aralık 2010): 47-54.
EndNote Karaduman HA, Akbas HE, Ozsozgun A, Durer S (01 Aralık 2010) EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008). International Journal of Economics and Finance Studies 2 2 47–54.
IEEE H. A. Karaduman, H. E. Akbas, A. Ozsozgun, ve S. Durer, “EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008)”, IJEFS, c. 2, sy. 2, ss. 47–54, 2010.
ISNAD Karaduman, Hasan Agan vd. “EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008)”. International Journal of Economics and Finance Studies 2/2 (Aralık 2010), 47-54.
JAMA Karaduman HA, Akbas HE, Ozsozgun A, Durer S. EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008). IJEFS. 2010;2:47–54.
MLA Karaduman, Hasan Agan vd. “EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008)”. International Journal of Economics and Finance Studies, c. 2, sy. 2, 2010, ss. 47-54.
Vancouver Karaduman HA, Akbas HE, Ozsozgun A, Durer S. EFFECTS OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: THE CASE FOR SELECTED COMPANIES IN THE ISTANBUL STOCK EXCHANGE (2005- 2008). IJEFS. 2010;2(2):47-54.