IDEAS home Printed from https://ideas.repec.org/a/eco/journ1/v15y2025i6id21780.html

Reverse Factoring, Environmental Subsidies, and Investment Returns: Panel Evidence from European Logistics Firms

Author

Listed:
  • Makhmudov, Samariddin

    (Department of Finance and Tourism, Termez University of Economics and Service, Termez, Uzbekistan; & Department of Economics, Mamun University, Khiva, Uzbekistan; & Center of the Engagement of International Ranking Agencies, Tashkent State University of Economics, Tashkent, Uzbekistan)

  • Matyakubova, Aziza

    (Department of Economics, Urgench State University, Urgench, Uzbekistan)

  • Kulmanov, Toshmurod

    (Department of World Economy and International Economic Relations, Tashkent State University of Economics, Tashkent, Uzbekistan)

  • Kurbanov, Mukhiddin

    (Department of Tax and taxation, Tashkent State University of Economics, Tashkent, Uzbekistan)

  • Nazarova, Gulchekhra

    (Department of Convergence of the Digital Technologies, Tashkent University of Information Technologies named after Muhammad al-Khwarizmi, Tashkent, Uzbekistan)

  • Turanboyev, Boburjon

    (Department of International Tourism and Economics, Kokand University, Kokand, Uzbekistan)

  • Achilova, Komila

    (University of Tashkent for Applied Sciences, Tashkent, Uzbekistan)

Abstract

This article evaluates the drivers of investment performance in European logistics, with a focus on the dimensions of supply chain financing and sustainability incentives. Using annual data provided by the Moody's Orbis (Bureau van Dijk) database, 24 logistics companies in Continental Europe from 2013 to 2024 were analyzed to examine how each of the reverse factoring, environmental subsidies, inventory financing, and liquidity condition affect investment efficiency. Firm performance is measured by return on investment, profit margin, and cost savings. The analysis uses pooled OLS, fixed and random effects panel regression to account for heterogeneity across firms and time. Results indicate that reverse factoring improves the return on investment, highlighting it is important for financial flexibility in logistics. In contrast, inventory financing negatively affects all three of performance measures which reflects collateral borrowing risks. Environmental subsidies have a moderate positive effect, while no cash ratio has a statistically significant effect on performance. The findings as a whole underscore how policies and financing strategies play in investment performance, which will be of use to both corporate operating managers and policy makers.

Suggested Citation

  • Makhmudov, Samariddin & Matyakubova, Aziza & Kulmanov, Toshmurod & Kurbanov, Mukhiddin & Nazarova, Gulchekhra & Turanboyev, Boburjon & Achilova, Komila, 2025. "Reverse Factoring, Environmental Subsidies, and Investment Returns: Panel Evidence from European Logistics Firms," International Journal of Economics and Financial Issues, Econjournals, vol. 15(6), pages 379-385, October.
    • Handle: RePEc:eco:journ1:v:15:y:2025:i:6:id:21780
    DOI: 10.32479/ijefi.21780
    as

    Download full text from publisher

    File URL: https://econjournals.com/index.php/ijefi/article/download/21780/9371
    Download Restriction: no
    File URL: https://libkey.io/10.32479/ijefi.21780?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ1:v:15:y:2025:i:6:id:21780. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Monica Sinhat (email available below). General contact details of provider: https://econjournals.com/index.php/ijefi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.