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Simultaneous Determination Of Inventories And Accounts Receivable

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Author Info
Ayub, Mehar

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Abstract

The study presents a model based on 3,375 observations from industrial firms in Pakistan, and the Three-Stage Least Square (3SLS) technique has been applied for the estimation. The results indicate that the Economic Order Quantity (EOQ) of inventories is not a constant magnitude; it is a variable closely associated with 'time trend'. While the ‘buffer stock’ element can be estimated through the constant term of an equation. Receivables from customers show a negative correlation with liquid assets and the cost of production. Receivables are also shown to act as substitute for closing inventories.

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File URL: http://mpra.ub.uni-muenchen.de/361/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 361.

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Date of creation: 2001
Date of revision: 2002
Handle: RePEc:pra:mprapa:361

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Related research
Keywords: 3SLS Inventory Control Economic Order Quantity Buffer Stock

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Find related papers by JEL classification:
M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Investment Policy

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    Other versions:
  2. Myers, Stewart C, 1984. " The Capital Structure Puzzle," Journal of Finance, American Finance Association, vol. 39(3), pages 575-92, July. [Downloadable!] (restricted)
  3. Smith, Clifford Jr. & Watts, Ross L., 1992. "The investment opportunity set and corporate financing, dividend, and compensation policies," Journal of Financial Economics, Elsevier, vol. 32(3), pages 263-292, December. [Downloadable!] (restricted)
    Other versions:
  4. Mian, Shehzad L & Smith, Clifford W, Jr, 1992. " Accounts Receivable Management Policy: Theory and Evidence," Journal of Finance, American Finance Association, vol. 47(1), pages 169-200, March. [Downloadable!] (restricted)
  5. Smith, Janet Kiholm, 1987. " Trade Credit and Informational Asymmetry," Journal of Finance, American Finance Association, vol. 42(4), pages 863-72, September. [Downloadable!] (restricted)
  6. Myers, Stewart C., 1984. "Capital structure puzzle," Working papers 1548-84., Massachusetts Institute of Technology (MIT), Sloan School of Management. [Downloadable!]
  7. Stern, Andrew, 1993. "Inventories of U.S. Parent Companies and Their Foreign Affiliates: An Analysis of Recent Data," Applied Economics, Taylor and Francis Journals, vol. 25(3), pages 335-42, March.
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