标题：AN ANALYSIS OF DETERMINANTS OF WORKING CAPITAL REQUIREMENT BASED ON TURKISH CENTRAL BANK INDUSTRIAL BALANCE SHEETS: 1996-2013
其他标题：TÜRKİYE CUMHURİYET MERKEZ BANKASI SEKTÖR BİLANÇOLARINI KULLANARAK İŞLETME SERMAYESİ GEREKSİNİMİNİ ETKİLEYEN DEĞİŞKENLER ÜZERİNE BİR ANALİZ:1996-2013
期刊名称：Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
印刷版ISSN：1301-3688
电子版ISSN：2630-6409
出版年度：2016
期号：48
页码：123-143
语种：English
出版社：Erciyes University
摘要：In this paper,we investigate existence of long-run relationships between the working capital requirement (lnISG),cash conversion cycle (NDS),leverage ratio (KLD),current ratio (CO) and return on assets (ROA).Sectoral balance sheets published by the Central Bank of Turkey for the 1996-2013 period have been used in this context.Applying Panel FMOLS and Panel DOLS cointegration analysis to the annually data for the 1996-2013 period,we find that the lnISG is negatively related to NDS and ROA,while lnISG is positively related to KLD and CO.According to the results of vector error correction model analysis,we find that there is a direction of causality from NDS,KLD,CO and ROA to lnISG in the long term and panel causality test results support the results of the panel cointegration test.
其他摘要：Bu çalışmada,işletme sermayesi gereksinimi (lnISG) ile nakde dönüşüm süresi (NDS),kaldıraç oranı (KLD),cari oran (CO) ve aktif kârlılığı (ROA) arasında uzun dönemli eşbütünleşme ilişkisinin varlığı tespit edilmeye çalışılmıştır.Bu bağlamda,Türkiye Cumhuri
关键词：Working Capital;Working Capital Management;Working Capital Requirement;Cointegration Analysis;Sectoral Balance Sheets
