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The speed of adjustment in net operating working capital: an international study

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dc.contributor.authorBaños Caballero, Sonia
dc.contributor.authorGarcía Teruel, Pedro Juan
dc.contributor.authorMartínez-Solano, Pedro
dc.contributor.departmentOrganización de Empresas y Finanzas
dc.contributor.otherFacultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Economía Financiera y Contabilidades
dc.coverage.temporal1995-2013es
dc.date.accessioned2023-12-20T12:34:15Z
dc.date.available2023-12-20T12:34:15Z
dc.date.issued2021-01-05
dc.description© 2021. Taylor and Francis Group. This document is made available under the CC-BY-NC 4.0 license http://creativecommons.org/licenses/by-nc /4.0/ This document is the submitted/accepted/ published version of a published Work that appeared in final form in Spanish Journal of Finance and Accounting. To access the final edited and published work see https://doi.org/10.1080/02102412.2020.1864176es
dc.description.abstractThis paper analyses whether there are differences in the speed of adjustment in net operating working capital (NWC) across countries. Unlike prior research, which reported that the adjustment speed of any current item is always rapid, we find that the speed of adjustment to NWC targets depends on a country’s investor protection and financial development. Specifically, using a sample of firms from 30 countries, we show that NWC adjustment speeds vary across countries, and they are faster for companies that operate in countries with stronger investor protection and greater financial development.es
dc.formatapplication/pdfes
dc.format.extent30es
dc.identifier.citationSpanish Journal of Finance and Accounting, 50(4), pp. 423-440. 2021.
dc.identifier.doihttps://doi.org/10.1080/02102412.2020.1864176
dc.identifier.issnPrint: 0210-2412
dc.identifier.issnElectronic: 2332-0753
dc.identifier.urihttp://hdl.handle.net/10201/136803
dc.languageenges
dc.publisherTaylor & Francis Groupes
dc.relationThis research is part of project ECO2016-76481-P (AEI/FEDER, UE) financed by the Research Agency of the Spanish Government and the European Regional Development Fund. The authors also acknowledge financial support from Fundación CajaMurciaes
dc.relation.publisherversionhttps://www.tandfonline.com/doi/full/10.1080/02102412.2020.1864176es
dc.rightsinfo:eu-repo/semantics/openAccesses
dc.rightsAtribución-NoComercial 4.0 Internacional*
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/*
dc.subjectNet operating working capitales
dc.subjectAdjustment speedes
dc.subjectLegal systemes
dc.subjectFinancial developmentes
dc.titleThe speed of adjustment in net operating working capital: an international studyes
dc.typeinfo:eu-repo/semantics/articlees
dspace.entity.typePublicationes
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