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organisation's liquidity and profitability. This study aims to examine the relationship between the operating performance and short …-term financial management of small and medium-sized enterprises in Europe. Return on assets is used as a proxy for profitability and … profitability and each of its determinants, such as average collection period, average payment period, average inventory period …
Persistent link: https://www.econbiz.de/10013010129
profitability while guaranteeing much-needed liquidity to run their operations. This study examines the impact of working capital … management on firms' profitability in the automotive industry in Europe before and during the COVID-19 pandemic period. The … industry to better capture the impact of working capital management on firm profitability. It also adds the COVID-19 dimension …
Persistent link: https://www.econbiz.de/10014230956
Companies can use working capital management as an approach to influence their profitability. This paper studies the … impact of working capital management and its components upon the profitability of European companies. Cash Conversion Cycle … is used as a comprehensive measure for working capital management and Gross Operating Profitability used as a measure for …
Persistent link: https://www.econbiz.de/10013099020
Persistent link: https://www.econbiz.de/10011931146
Persistent link: https://www.econbiz.de/10011696591
In this paper, we examine several cross-listing theories employing a sample of over 250 European ADRs representing 19 countries during the 1970-2002 period. We find that, first, though both Level II and III listings underperform over the three years subsequent to the US listing, the determinants...
Persistent link: https://www.econbiz.de/10013157264
As a response to multiple financial shocks, international standards have disappointed. Consensus-seeking has stifled innovation, perpetuating outdated regulatory concepts at a time of rapid market change. Different forces are at work now. Markets are complex and idiosyncratic; they may not be...
Persistent link: https://www.econbiz.de/10012910271
We examine changes in stock price informativeness following the European Union's Transparency Directive (TPD). The TPD, implemented by country between 2007 and 2009, enhanced corporate transparency through mandating regular firm financial disclosures and the dissemination of financial reports....
Persistent link: https://www.econbiz.de/10012894316
Although the EU has achieved an impressive degree of harmonization in the securities laws of its member states, it has not yet advanced any effective collective private remedies for violations of those securities laws. This is especially noteworthy since the U.S. Supreme Court's decision in...
Persistent link: https://www.econbiz.de/10012974601
We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing market abuse and increasing transparency. To estimate causal effects for the population of EU firms, we exploit that for plausibly exogenous reasons, like national legislative...
Persistent link: https://www.econbiz.de/10013008723