Bookcover of Working Capital Management during the Financial Crisis
Booktitle:

Working Capital Management during the Financial Crisis

Impact of Working Capital Management on Profitability of Public listed firms in The Netherlands

LAP LAMBERT Academic Publishing (2012-07-12 )

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ISBN-13:

978-3-659-17845-0

ISBN-10:
3659178454
EAN:
9783659178450
Book language:
English
Blurb/Shorttext:
This study investigates how public listed firms in The Netherlands manage their working capital. A sample of 37 firms is used, which are among the fifty largest companies in The Netherlands. The working capital policies during the non-crisis period of 2004-2006 and during the Financial Crisis of 2008 and 2009 are compared. This comparison investigates whether companies have to change their non-crisis working capital policies when the economy is into a recession. The results of this study indicate that, in crisis periods, firms don’t need to change their working capital policy concerning accounts payables and inventory, if their goal is to enhance profit. For the working capital policy managing accounts receivables this is not the case. This is because during a crisis accounts receivables have a positive effect on a firm’s profitability of the next year. These results are on short-term basis. On the long-term, benefits of aiding customers during crisis periods are likely to grow, because future sales will still be there. Also the risks taken by these aiding firms are relatively low and for large reputable firms it is also relatively cheap.
Publishing house:
LAP LAMBERT Academic Publishing
Website:
https://www.lap-publishing.com/
By (author) :
Mathias B. Baveld
Number of pages:
96
Published on:
2012-07-12
Stock:
Available
Category:
Business management
Price:
49.00 €
Keywords:
Financial Crisis, working capital management, firm profitability, Working Capital Policies, Public Listed Firms, Amsterdam Stock Exchange., financial constraints

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