Artikel

On the relative importance of corporate working capital determinants: Findings from the EU countries

The corporate finance literature traditionally abounds in both theoretical discussion and empirical research concerning financing and long-term investment decisions. Managing short-term resources appears to be a much less remarkable issue, despite this resource's significant share of a firm's balance sheet and the time and effort required to manage the current assets and liabilities. This article provides insights into the relative importance of the selected working capital determinants from the European Union perspective. The determinants considered in the study include both external and internal factors, specifically the country in which a company operates, its industrial classification and the firm size. Using more than 10,000 aggregated observations from a sample of firms from 13 industries, 9 countries and 3 group sizes, covering the period 2000 - 2009, the findings provide evidence that corporate working capital is most affected by country-specific factors, followed by industrial factors and firm size.

Language
Englisch

Bibliographic citation
Journal: Contemporary Economics ; ISSN: 2084-0845 ; Volume: 8 ; Year: 2014 ; Issue: 4 ; Pages: 415-434 ; Warsaw: Vizja Press & IT

Classification
Wirtschaft
Corporate Finance and Governance: General
Subject
working capital
country factors
industry factors
firm size

Event
Geistige Schöpfung
(who)
Koralun-Bereźnicka, Julia
Event
Veröffentlichung
(who)
Vizja Press & IT
(where)
Warsaw
(when)
2014

DOI
doi:10.5709/ce.1897-9254.154
Handle
Last update
10.03.2025, 11:45 AM CET

Data provider

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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Artikel

Associated

  • Koralun-Bereźnicka, Julia
  • Vizja Press & IT

Time of origin

  • 2014

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