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Is Cash Conversion Cycles Optimum in Turkish Listed Food-Beverage Firms?

Author

Listed:
  • Filiz KONUK

    (Sakarya University, Turkey)

  • Feyyaz ZEREN

    (Sakarya University, Turkey)

Abstract

In this study, the optimality of cash conversion cycles of firms at foodbeverage index of BIST (Istanbul Stock Market) is investigated. Panel KSS unit root test developed by Uçar and Omay (2009), which is suitable for heterogeneous panels & for non-linear financial series and taking into account cross sectional dependence, is used in study with quarterly data spanning the period 2008-2013. Cash levels of 13 firms among 15 are observed non-optimal by the aid of Sequential Panel Selection Method (SPSM) developed by Chortareas and Kapetanios (2009). This results show most firms at food-beverage index do not pursue a balanced working capital policy.

Suggested Citation

  • Filiz KONUK & Feyyaz ZEREN, 2014. "Is Cash Conversion Cycles Optimum in Turkish Listed Food-Beverage Firms?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(12(601)), pages 153-164, December.
    • Handle: RePEc:agr:journl:v:xxi:y:2014:i:12(601):p:153-164
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    Citations

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    Cited by:

    1. Mehmet Erkan Soykan & Recep Ulucak, 2016. "Is There a Non-linear Relationship between Net Trade Cycle and Corporate Performance in Turkey?," International Business Research, Canadian Center of Science and Education, vol. 9(6), pages 95-101, June.
    2. María Luisa Saavedra García & Jaime Loé Uribe, 2018. "Flujo de efectivo para las pymes: una propuesta para los sectores automotor y de tecnologías de la información en México," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 10(2), pages 287-308, November.

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