Cash conversion cycle in smes

  1. Baños-Caballero, Sonia
  2. García Teruel, Pedro Juan
  3. Martínez Solano, Pedro
Revista:
Notas técnicas: [continuación de Documentos de Trabajo FUNCAS]

ISSN: 1988-8767

Any de publicació: 2009

Número: 457

Tipus: Document de treball

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Altres publicacions en: Notas técnicas: [continuación de Documentos de Trabajo FUNCAS]

Resum

This paper examines the determinats of Cash Conversion Cycle (CCC) for small and medium-sized firms. It is found that these firms have a target CCC level to which they attempt to converge, and they try to adjust to their target level quickly. The results also show that this level is higher for older firms and companies with greater cash flows. In contrast with this, firms with more growth opportunities, and firms with higher leverage, investment in fixed assets and return on assets have lower CCC levels.

Fuente de los datos: Dialnet