Relevant bibliographies by topics / Cash conversion cycle

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers

Academic literature on the topic 'Cash conversion cycle'

Author: Grafiati
Published: 4 June 2021
Last updated: 31 January 2023

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Journal articles on the topic "Cash conversion cycle"

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Währisch, Michael. "Der Cash-Conversion-Cycle." Controlling 31, no. 4 (2019): 22–28. http://dx.doi.org/10.15358/0935-0381-2019-4-22.

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Kennzahlen werden eingesetzt, um Ziele zu messen und die Zielerreichung zu planen und nachzuhalten („What gets measured, gets managed“). Sofern die Kennzahlen aber nicht geeignet sind, das Ziel betriebswirtschaftlich zutreffend abzubilden, läuft das Management ins Leere. Der Beitrag untersucht, inwiefern der Cash-Conversion-Cycle als Kennzahl der Mittelbindung für das Working Capital Managements geeignet ist.
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Griffin, Richard B., B. Wynne Griffin, and K. W. VanVuren. "Dollarizing The Cash Conversion Cycle." Journal of Business & Economics Research (JBER) 12, no. 3 (July 1, 2014): 271. http://dx.doi.org/10.19030/jber.v12i3.8731.

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For most companies to be financially successful, it is critically important that operating cash flows be effectively managed. The Cash Conversion Cycle (CCC) is a traditional tool that companies use to measure the average time required for operating cash flows to cycle from cash out for the payment of payables and back to cash flow in from the collection of receivables. Knowledge that the rate their operating cash flow is speeding up or slowing down, as indicated by a decreasing or increasing CCC, while useful information, is of limited value to the company. The CCC indicates nothing about the absolute dollar amount of the cash flow. This paper illustrates a method by which the current year actual CCC and the next year target CCC, along with a few other items of data, can be used to forecast the dollar amount of the next years operating cash flows. The extension of the CCC to enable it to help forecast the dollar amount of operating cash flows makes the CCC more useful to companies attempting to effectively manage operating cash flows.
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Gentry, James A., R. Vaidyanathan, and Hei Wai Lee. "A Weighted Cash Conversion Cycle." Financial Management 19, no. 1 (1990): 90. http://dx.doi.org/10.2307/3666040.

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Wang, Baolian. "The cash conversion cycle spread." Journal of Financial Economics 133, no. 2 (August 2019): 472–97. http://dx.doi.org/10.1016/j.jfineco.2019.02.008.

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Sari, Fitri Indah, R. A. Damayanti, and Andi Kusumawati. "The Effect of Cash Conversion Cycle and Chief Executive Officer Power on Financial Distress and Leverage an Intervening Variable." International Journal of Research and Review 8, no. 7 (August 2, 2021): 337–43. http://dx.doi.org/10.52403/ijrr.20210747.

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This study aims to determine and analyze (1) the effect of the cash conversion cycle on financial distress, (2) the effect of chief executive officer power on financial distress, (3) the effect of the cash conversion cycle on leverage, (4) the effect of chief executive officer power on leverage (5) Effect of cash conversion cycle on leverage (6) Effect of cash conversion cycle on financial distress through leverage (7) Effect of chief executive officer power on financial distress through leverage. This research is a type of quantitative research. In this study using agency theory and stakeholder theory. The population in this study were all manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2016-2020. The sample determination in this study used purposive sampling with a sample size of 80. The research data is secondary data accessed through www.idx.co.id. The results showed that the cash conversion cycle had a positive and significant effect on financial distress. Chief executive officer power has a positive and significant effect on financial distress. Cash conversion cycle has a positive and significant effect on leverage. Cash conversion cycle has a negative effect on leverage. Cash conversion cycle has a positive effect on financial distress through leverage. Chief executive officer power has a negative effect on financial distress through leverage. Keywords: Cash Conversion Cycle, Chief Executive Officer Power, Financial Distress, Leverage.
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Korent, Dina. "Target adjustment model and new working capital management performance measure: Evidence from Croatia." Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu/Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business 39, no. 1 (June 30, 2021): 135–62. http://dx.doi.org/10.18045/zbefri.2021.1.135.

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The paper develops a dynamic panel model of target adjustment in order to investigate the determinants of the cash conversion cycle of companies in manufacturing, trade, and information and communication industries in the Republic of Croatia for the period 2008-2015. The emphasis is on examining the significances and the speeds of the adjustment processes of the cash conversion cycles of companies subsamples by industry and size. Due to the adjustment costs, the results show that the observed companies gradually adjust their current cash conversion cycles to the target ones. In addition, these adjustments were slow, which can be explained by the predominance of the adjustment costs over the costs of being in disequilibrium. Moreover, the results of this study indicate that the rate of adjustment varies among companies from different industries and size categories. The differences in market power allow companies to change more easily the components of the cash conversion cycle. As a result, they enable faster convergence to their target levels. Besides the lagged cash conversion cycle, tested potential determinants that significantly affect the cash conversion cycles of Croatian companies in selected industries, although with different robustness, are company size, company growth, return on assets, fixed asset investments, financial leverage and the growth of the real gross domestic product. Finally, the paper presents a new measure for working capital management performance.
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Kusumastuti, Risa. "KONVERSI KAS DAN DAMPAKNYA TERHADAP LIKUIDITAS DAN PROFITABILITAS DEBITUR USAHA KECIL (Studi Kasus di Bank Sinar Harapan Bali)." Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management and Banking) 1, no. 2 (May 30, 2017): 31. http://dx.doi.org/10.35384/jemp.v1i2.35.

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Micro, small, and medium enterprises (SMEs) is an important part of national economy.Despite their advantages, SMEs still often have problems in developing their business and have limited access to capital. In this paper, the author examines the relationship between working capital loan and industry to activity, liquidity, and profitability aspects of small business debtors in Bank Sinar Harapan Bali. The results of this study show that working capital loan and industry influence cash conversion cycle significantly, both simultaneously and partially. Cash conversion cycle affects liquidity and profitability. The total contribution of working capital loan to current ratio through cash conversion cycle variable is amounted 71,05%. The total contribution of industry to current ratio through cash conversion cycle is -14,51%. The total contribution of working capital loan to return on equity through cash conversion cycle variable is amounted 60,48%, while the total contribution of industry to current ratio through cash conversion cycle is -12,35%.
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Cristea, Ciprian, and Maria Cristea. "Cash conversion cycle and corporate performance: evidence from Romania." MATEC Web of Conferences 184 (2018): 04009. http://dx.doi.org/10.1051/matecconf/201818404009.

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Cash conversion cycle is considered one of the most important measures of management effectiveness, especially the cash flow and liquidity management. This study examines the relationship between cash conversion cycle and corporate profitability for the non-financial companies, from several industries, listed on the Bucharest Stock Exchange for a period of fifteen years from 2002 to 2016. The findings from a cross sectional multiple regression analysis pointed out a negative relationship between cash conversion cycle and the performance of firms. Based on the results from this paper it has been concluded that managers can improve the profitability of their firms by decreasing the number of days in cash conversion cycle.
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Makarova, Svetlana, and Elena Ermakova. "Working Capital Policy for Wholesale Trade Companies." Moscow University Economics Bulletin 2020, no. 3 (June 30, 2020): 78–105. http://dx.doi.org/10.38050/01300105202034.

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This article contains a new approach to working capital management which influences significantly the profitability and liquidity of companies. The impact of working capital management on financial results is regarded mostly theoretically in Russian literature, while in numerous foreign articles empirical results are controversial. The article presents the empirical research on the basis of 8890 Russian wholesale trade companies over the period of 2014- 2018, which reveals a non-linear relation between the profitability and cash conversion cycle. Similar relation is also revealed for 2290 Russian retail companies, 2320 Russian metal production companies and 1760 construction companies. As a result, we proved the existence of such a cash conversion cycle which provides maximum profitability for different economic sectors. This cash conversion cycle equals 19 days for wholesale trade, 9 days for retail trade, 38 days for construction and 43 for metal production. Moreover, the formula of cash conversion cycle is modified to show how the desired cash conversion cycle may be achieved. This formula demonstrates a strong impact of working capital policy on cash conversion cycle and proves the importance of coherent working capital policy. The results may be useful in the working capital management to provide an increase in profitability combined with maintenance of chosen liquidity level.
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Adiyanto, Ricky, Werner Ria Murhadi, and Liliana Inggrit Wijaya. "Working Capital Management dan Firm Profitability Perusahaan Sektor Manufaktur di Bursa Efek Indonesia dan Bursa Efek Filipina Periode 2014-2018." Journal of Entrepreneurship & Business 1, no. 1 (March 17, 2020): 31–42. http://dx.doi.org/10.24123/jerb.v1i1.2822.

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This study aims to analyze the effect of working capital management on the profitability of companies in Indonesia and Philippines. This study uses secondary data from companies listed in Indonesia Stock Exchange and Philippines Stock Exchange in the 2014-2018 period. The sample used in this study includes manufacturing sector companies listed in Indonesia Stock Exchange and Philippines Stock Exchange in that period. This research uses multiple linear regression method. Working capital is measured using cash conversion cycle, accounts receivable conversion period, inventories conversion period, and accounts payable deferral period. The results of the Indonesian sample show that the cash conversion cycle and its components, namely the accounts receivable conversion period, the inventories conversion period, and the accounts payable deferral period have a significant positive effect on firm profitability. For the Philippine sample, the result of the study show that the cash conversion cycle and its components does not have a significant effect on firm profitability. Keywords: cash conversion cycle, accounts receivable conversion period, inventories conversion period, accounts payable deferral period
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Dissertations / Theses on the topic "Cash conversion cycle"

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Costa, Bárbara Reis da. "Cash conversion cycle across industries." Master's thesis, NSBE - UNL, 2014. http://hdl.handle.net/10362/11731.

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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics
The purpose of this research is to assess whether Cash Conversion Cycle differs between industries via their components, namely Days Inventory Outstanding, Days Sales Outstanding and Days Payables Outstanding. Based on a sample of multinational companies from two different industries, Fast Moving Consumer Goods and Airline industry for the period 2009-2012, the results suggest that Cash Conversion Cycle differs between industries. Also it differs between large and smaller companies due to different accounting choices. It contributes to a better understanding about how size of the firm, inventory system, liquidity and payables impact on CCC and consequently on companies’ profitability.
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Wildi, Philip-Markus. "The Weighted Cash Conversion Cycle in Networks Potential for WACC-Optimization /." St. Gallen, 2008. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/01655315002/$FILE/01655315002.pdf.

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Le, Roux Marthinus Theunis Steyn. "Company value : working capital and the cash conversion cycle investigated / M.T.S. le Roux." Thesis, North-West University, 2008. http://hdl.handle.net/10394/4026.

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The primary objective of any corporation should be shareholder wealth maximisation. A firm's working capital policies have an effect on the firm's expected future returns and the risk associated with the returns, which ultimately have an impact on shareholder wealth. Efficient working capital management is a fundamental portion of the overall corporate strategy to create shareholder value. In this study the relationship of corporate profitability and working capital management was investigated. This relationship is examined using regression analysis. A sample of 118 firms listed on the Johannesburg Securities Exchange (JSE) for the period 2003 to 2007 was used. The purpose of this study is to establish whether a relationship exists between working capital management efficiency and profitability, considering the cash conversion cycle and operating profitability of the firm. The results of the regression analysis indicated that a statistical significance exists for three of the five years (2003 - 2005) analysed between profitability, measured with the gross operating profit, and the cash conversion cycle. It is observed (2003-2005 regression results) that a lower gross operating profit is associated with an increase in number of days accounts payable. The negative relationship between accounts receivable and firms' profitability (for 2003-2005) suggests that less profitable firms will pursue a decrease of accounts receivables in the attempt to reduce cash gap in the respective cash conversion cycles. The negative relationship between the number of days inventory and corporate profitability (for 2003-2005) suggests that a sudden decrease in sales accompanied by mismanagement of inventory, will lead to tying up excess capital at the expense of profitable operations. Managers or owners of firms can improve profits for firms by handling correctly the cash conversion cycle and keeping each individual component (accounts receivable, accounts payable and inventory) to an optimum level. These results (for 2003-2005) suggest that managers can create value for shareholders by reducing the cash conversion cycle and its individual components.
Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2009.
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John, Costa. "A Comparison of the Current Ratio and the Cash Conversion Cycle in Evaluating Working Capital Cash Flows." Diss., California Coast University, 2001. http://hdl.handle.net/10919/71545.

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The purpose of this study was to compare the effectiveness of the current ratio and the cash conversion cycle in evaluating working capital cash flows from a diagnostic and a predictive aspect.The author analyzed two case studies. Each company was reviewed over a five-year period. For each company the writer calculated the annual current ratio and the cash conversion cycle and examined the trends over the five-year periods under review.Results of these analyses indicated that the cash conversion cycle was more effective than the current ratio in diagnosing the health of each company’s working capital cash flows. The cash conversion cycle also signaled a change in liquidity earlier than the current ratio, suggesting that the former had more effective predictive capabilities than the latter. The central implication of these findings is that the cash conversion cycle might be a more useful diagnostic and predictive tool than the current ratio in liquidity analysis.The research findings were also consistent with improvement or deterioration in each company’s underlying strategic performance as measured by critical changes in its competitive position at the same point in time as the cash conversion cycle trend shifted.These results suggest that the cash conversion cycle may provide insights into the impact of planned product-market strategy on shareholder value.
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Hammady, Brho Mazen. "Supply Chain Finance: Developing a Weighted Cash Conversion Cycle to Proxy Corporate Financial Performance." Thesis, University of North Texas, 2018. https://digital.library.unt.edu/ark:/67531/metadc1248432/.

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The objective of this three-essay dissertation are to develop a weighted cash conversion cycle (CCC_EVA) and empirically investigate its commensurability of corporate financial performance. Essay 1, titled "Supply Chain Finance: Developing a Weighted Cash Conversion Cycle to Proxy Operations Liquidity", presents the development and supporting empirical evidence of CCC_EVA measurability of operations liquidity. This essay shows the processes of scaling capital intensity and financing cost into time intervals captured by the traditional metric. Specifically, this essay investigates how accurately CCC_EVA indexes operations liquidity captured working capital, operational cash flow-to-modified working capital ratio, and quick ratio. The sample used in this essay consists of 4,333 firm-year observations of publicly traded industry classified firms listed on the U.S. exchange markets. The results of the empirical testing have statistically supported the essay hypotheses, that is CCC_EVA is a more accurate proxy of operations liquidity in comparison to the traditional metric (CCC_D). Essay 2, titled "Supply Chain Finance: Weighted Cash Conversion Cycle and Corporate Finance", expands the first essay findings by accounting for well-known financial measurements. Specifically, this essay examines the relations between CCC_EVA and operations liquidity and leverage, Market value, operating profitably and growth, and long-term asset management efficiency. This essay paper has used a sample of 24,127 firm-year observations of publicly traded firms listed on U.S. exchange markets from 1994 to 2016. The results support and extend the previous findings, that is CCC_EVA is a robust proxy of operations liquidity and can enhance its resiliency; maximize market value of corporate equity and debt; identify strategies to improve corporate profitability and credibility. Essay 3, titled "Supply Chain Finance: An Advanced Weighted Cash Conversion Cycle", advances the accuracy of CCC_EVA by differentiating between cash and credit forms of corporate sales and purchase transactions, and introducing operational cash flow into CCC_EVA. The advanced metric allows differences in inventory carrying cost and capital costs to be sources of the economic value added (EVA). Within a longitudinal case-based approach, the results show that the advanced metric is a potential decision tool to leverage on supply chain diversity and capitalize on its relation dynamics. Specifically, the implantation of the advanced metric can minimize the overall SC weighted average cost of capital (WACC) and its inventory carry cost (ICC); boost EVA of SC activities; and hedge liquidity risk. This three-essay dissertation has addressed the academic skepticism about CCC_D‘s commensurability by developing an advanced weighted metric (CCC_EVA) that accounts for capital intensity and financing cost. The three essays provide evidence of CCC_EVA testability and its adequacy of presenting corporate financial performance. The findings of this dissertation contribute to both industry and academia. Industry practitioners can implement CCC_EVA as a strategic decision instrument to balance SC liquidity distribution and resilience; hedge default risk of hidden deep-tier SC partners; increase overall SC profitability and creditability; boost equity value; and reveal existing opportunities of SC's EVA sources. Academically, these three essays initiate a fundamental and much-needed step for scholars to advance a systematically published metric, which can contribute to the implications, innovations, and knowledge of the SCF domain.
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Pfitzner, Marcus. "Working Capital." Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2016. http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-201911.

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Ausgehend vom Bedarf an unternehmensinternen, relativ marktunabhängigen Maßnahmen zur Stärkung der Innenfinanzierungskraft von Unternehmen, kann die angestrebte Liquiditätssicherung und Ertragsstabilisierung aus einer effizienten Steuerung der Working-Capital-beeinflussenden Prozesse hervorgehen. Der vorliegende Beitrag fokussiert dabei die definitorische Abgrenzung des Working Capital und des Working Capital Management. Außerdem werden die finanziellen Wirkungen des WCM aufgezeigt. Eine detaillierte Betrachtung der das Working-Capital-beeinflussenden Prozesse verdeutlicht die Komplexität des Prozessgefüges und die Notwendigkeit eines ganzheitlichen Ansatzes zur Working-Capital-Steuerung.
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Rimo, Alexandra, and Podjaman Panbunyuen. "The effect of company characteristics on working capital management: A quantitative study of Swedish listed companies." Thesis, Umeå University, Umeå School of Business, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-35674.

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This study investigates the effect of company characteristics on the working capital management. We employed quantitative method to examine the relationship between company characteristics and the cash conversion cycle as a measure of working capital management in Swedish listed companies. The company characteristics include profitability, operating cash flow, company size, sale growth, current ratio and debt ratio. The sample consists of 40 companies in the large cap investment segment listed on NASDAQ OMX Stockholm Exchange. Financial data are extracted from companies’ annual reports of year 2007 and 2008 in order to calculate financial ratios used in the study.

 

Using regression analysis, our results indicate that profitability, operating cash flow, company size and sale growth affect the company’s working capital management. First, we find that there is a significant positive association between profitability and the cash conversion cycle. Second, we find that the cash conversion cycle have significant negative relationship with operating cash flow, company size and sale growth. Further, we examined the industry effect and find significant positive relations with the cash conversion cycle in four industry classifications as follows: materials, industrials, health care and information technology.

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Fredriksson, Erik, and Cheraghi Kevin. "Rörelsekapitalets påverkan på företags lönsamhet : En empirisk studie av sambandet mellan Cash Conversion Cycle och ROA i Sverige." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-27684.

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Syfte: Syftet med denna uppsats är att studera om förändringar i arbetet med rörelsekapital hade ett samband med lönsamheten i företag. Som mått på rörelsekapital används Cash Conversion Cycle och som mått på lönsamhet används ROA. Teoretiskt perspektiv: Den teoretiska referensramen består av teorier om Working Capital Management, Cash Conversion Cycle, Lean, Supply Chain Management och Supply Chain Finance. Metod: I denna uppsats används en kvantitativ metod där sekundärdata samlas in från årsredovisningar för 2005 och 2013. Denna data ligger till grund för fyra korrelationsanalyser. Den beroende variabeln i korrelationsanalyserna är ROA och defyra oberoende variablerna är Cash Conversion Cycle, dagar i lager, dagar som kundfordring och dagar som leverantörsskuld. Urvalet i denna studie består av svenska aktiebolag inom branschen tillverkning och industri med fler än 50 anställda. Empiri: Empirin består av fyra tabeller som presenterar de beräkningar som gjorts. Slutsats: Sambandet mellan förändring i Cash Conversion Cycle och förändring i ROA blev väldigt svagt positivt men inte signifikant. Alla förändringar i dagar i lager, dagar som kundfordring och dagar som leverantörsskuld visade svaga negativa samband till ROA och var signifikanta.
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Koloko, Mapolo Belina. "The effect of working capital management on the profitability of small retail businesses within the Emfuleni local municipality." Thesis, Vaal University of Technology, 2016. http://hdl.handle.net/10352/384.

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Managing cash flow and cash conversion cycle is a crucial component of the overall financial management within businesses, particularly small businesses. A business is required to maintain a balance between its liquidity and profitability while conducting its day-to-day operations. Monitoring of cash as an indicator of financial health is important in the view of its crucial role within businesses. This requires a business to run an effective working capital management efficiently and profitably. Hence, efficient working capital management includes decisions on how much to invest in customers, inventory and accounts receivable, and the extent of credit to accept from suppliers. The purpose of the study was to examine the effect of working capital management on the profitability of small retail business with the Emfuleni Local Municipality. Three variables were used as a measure of working capital management, namely the number of days inventory on hand, number of days accounts payable, number of days account receivable. The return on assets was used to measure profitability. The study adopted the quantitative research approach using a structured questionnaire. A non-probability purposive sampling method was followed, where a total of 222 questionnaires were analysed. Spearman’s correlation analysis was conducted to examine the linear relationship between working capital management and the rate of return on assets. The results indicated that the period it takes the business to collect money from its customers impacts on the period it takes to pay the suppliers. A weak correlation was also reported between the number of days accounts are payable and the cash conversion cycle. Strong correlations also exist between day’s accounts receivable and the cash conversion cycle and days inventory on hand with the cash conversion cycle. Regression analysis results show that days account receivables have made the largest impact on return on assets. Small businesses may have to decrease the cash conversion cycle in order to help maintain value within the business. The number of days for accounts receivable should be reduced to a reasonable period (shorter than the creditor’s payment period). Small businesses may consider shortening the number of days inventory is held within the business, as this also will decrease the cost of obsolete stock.
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Milatová, Helena. "Ŕízení pracovního kapitálu ve firmě BAYER s.r.o." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-125227.

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The aim of this thesis is to analyze the management of working capital in company Bayer s.r.o., primarily to find the weak points and to suggest measures for their improvement. First of all the company results will be evaluated based on financial analysis. Subsequently the managing process of particular working capital components will be assessed, i.e. inventories, receivables, cash and payables. The resulting findings will be interpreted and completed by proposal of measures and recommendations, which should ensure a higher efficiency of working capital management and therefore release funds, which can be used for further company development and increase its value.
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Books on the topic "Cash conversion cycle"

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Gentry, James A. A value added cash conversion cycle. [Urbana, Ill.]: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign, 1986.

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Book chapters on the topic "Cash conversion cycle"

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Chang, Chong-Chuo. "Cash Conversion Cycle and Corporate Performance: Global Evidence." In Encyclopedia of Finance, 2597–626. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-91231-4_109.

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Chang, Chong-Chuo. "Cash Conversion Cycle and Corporate Performance: Global Evidence." In Encyclopedia of Finance, 1–30. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-73443-5_109-1.

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Xiao, Tian, Hing Kai Chan, Wenbin Ni, and Kim Hua Tan. "Are Corporate Social Responsibility (CSR) Disclosure High Performers Authentic? - Perspective from Supply Chain Cash Conversion Cycle (CCC)." In Supply Chain Risk and Innovation Management in “The Next Normal”, 95–111. Singapore: Springer Nature Singapore, 2022. http://dx.doi.org/10.1007/978-981-19-1464-5_9.

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Hansen, Jared M. "Structured Abstract: The Magic of Making More from Less—Price Discounting, Logistics, and Improved Cash Conversion Cycle." In Creating Marketing Magic and Innovative Future Marketing Trends, 1069–73. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-45596-9_196.

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Kalantonis, Petros, Spyridon Goumas, and Maria Rodosthenous. "Cash Conversion Cycle and Firms’ Performance: An Empirical Study for the Greek Listed Firms in the Athens Stock Exchange." In Economic and Financial Challenges for Eastern Europe, 367–77. Cham: Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-12169-3_24.

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Tamura, Takao. "Improvement of the Flood-Reduction Function of Forests Based on Their Interception Evaporation and Surface Storage Capacities." In Ecological Research Monographs, 93–104. Singapore: Springer Singapore, 2022. http://dx.doi.org/10.1007/978-981-16-6791-6_7.

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AbstractForests have a flood-reduction function that reduces flood peak flow and delays the flood peak time. In the mountains of Japan, artificial forests planted between the 1950s and 1970s are widespread; however, many of these forests are not well managed. The effective use of the flood-reduction function of forests as a remarkable approach for river basin management has been discussed for several years. In this study, two aspects of the water cycle in forests were explored: the interception evaporation process in the forest canopy and the groundwater storage process on the forest slope. A runoff model was applied to the hydrological data obtained in several forest basins with different characteristics to evaluate the effects of the processes. In the case of the Japanese cedar plantations studied, it was suggested that the improvement of interception evaporation capacity and surface storage capacity by conversion to mixed forests and selective logging would significantly reduce the peak flood discharge on a timescale of approximately 20–30 years.
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Syeda, Rafathunnisa. "Impact of Working Capital Management on Profitability: A Case Study of Trading Companies." In Accounting and Finance Innovations. IntechOpen, 2021. http://dx.doi.org/10.5772/intechopen.99912.

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The success of any business depends on its profitability, liquidity, and solvency. Liquidity plays an important role in the successful running of a business. Many prior studies have been conducted to measure the relationship between working capital and profitability. The results showed that the high investment in inventories and receivables is associated with lower financial performance. They found a negative relationship between Return on Assets and Inventory turnover and Cash conversion cycle the present study is designed to know the direct impact of working capital on profitability by choosing the days of collection, days of payment, days inventory converts to sales and finally the cash conversion cycle. This study examines the association between the profitability and working capital using the data of 15 US trading companies for the period of 2015 to 2019. The key points in this study are firstly there exists a negative relationship between the profitability and the average collection period, the lower the average collection period higher will be the profitability, indicating that a decrease in the number of days a firm receives payment from sales affects the profitability of the firm positively. Secondly there is a highly significant positive relationship between average payment period and profitability. This implies that the longer a firm makes the payment to its creditors, the more profitable it is. Thirdly the cash conversion cycle decreases it will lead to an increase in profitability of the firm, and managers can create a positive value for the shareholders which indicates that it has been maintained. The regression analysis showed the value for the R-squared in the model is 0.584, i.e., 58.4% of the variation in the dependent variable Net Profitability is explained by the independent variables.
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Tripathi, Nityanand, and Naseem Ahamed. "Does Optimizing the Cash Conversion Cycle Ameliorate Firm’s Performance? Unraveling the Relationship in the Indian Corporate Landscape." In Research in Finance, 243–55. Emerald Group Publishing Limited, 2016. http://dx.doi.org/10.1108/s0196-382120160000032010.

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Erdogan, Seda. "The Effect of Working Capital Management on Firm's Profitability." In Advances in Environmental Engineering and Green Technologies, 244–61. IGI Global, 2016. http://dx.doi.org/10.4018/978-1-4666-9723-2.ch013.

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Working capital management is an extremely essential issue for the healthy conduct of the sustainability of a business. The active and day-to-day nature of the short term business emporium, the ongoing necessity to substitute current assets and in the meantime to liquidate current liabilities clearly demonstrates the significance of working capital management and therefore the essential duty the financial executives carry. While an optimal strategy of working capital management is expected to positively contribute not only to the profitability of a firm but also its value; there is a trade-off between the liquidity level the firm is carrying and its profitability. The direct effect of working capital management on profitability and liquidity of firms clearly demonstrates the significance working capital management has in a firm and consequently the objective of this chapter is to find whether or not working capital management, i.e. cash conversion cycle has an effect on profitability for the publicly listed companies in Turkey using panel regression analysis.
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Farooq, Zeeshan, and Ali Al-Qahtani. "Sustainable Energy Efficient Industrial Facility Design." In Energy Consumption, Conversion, Storage, and Efficiency [Working Title]. IntechOpen, 2022. http://dx.doi.org/10.5772/intechopen.108829.

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Industrial facilities are rapidly changing over the years, various technological advances have led to break-through its performance. The transformation is fetched from inventions, development of sophisticated processes/technologies, digitalization, the list is incessantly growing. These technical progressions and stratagems to realize it on the life-cycle basis forces the industries to explore sustainability concepts within the scope. Also, the mission to chop back GHG emissions to protect environment is needed than ever before. Consequently, the revolution and evolution of products, processes, technologies, resources, and sustainability requirement to mitigate climatic anomaly beams on the industrial sector and ordained it to cater an approach toward optimizing all efforts. The challenge is to develop a method by accommodating all the technological advances and sustainability requirements to transform facilities into a much better performing asset. The answer is to construct and preserve industrial facilities to be energy efficient which enable them to be competitive and environmentally friendly. The chapter illustrates, through case study, the ‘plant lifetime retrofit-ability concept in industrial facilities. Its objective is to develop the most energy efficient facility design via arranging each future modification to remain energy efficient throughout its lifecycle without deterrents and utilizing minimum capital. Finally, a way is proposed to develop inherently sustainable energy efficient design in order to cater the benefits throughout the industrial facility life-cycle.
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Conference papers on the topic "Cash conversion cycle"

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Setyaningrum, Nanda, and Erma Setiawati. "Pengaruh Growth Opportunity, Net Working Capital, Cash Conversion Cycle Dan Dividend Payout Terhadap Cash Holding (Studi Empiris Pada Perusahaan Sektor Industri Barang Konsumsi Yang Terdaftar Di Bursa Efek Indonesia Tahun 2015-2018)." In SEMINAR NASIONAL DAN CALL FOR PAPER 2020 FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS MUHAMMADIYAH JEMBER. UM Jember Press, 2021. http://dx.doi.org/10.32528/psneb.v0i0.5208.

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Penelitian ini bertujuan untuk mengetahui pengaruh growth opportunity, net working capital, cash conversion cycle, dan dividend payout terhadap cash holding perusahaan sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia. Desain penelitian ini adalah penelitian asosiatif kausal. Populasi dari penelitian ini adalah perusahaan sektor industri barang konsumsi yang terdaftar si Bursa Efek Indonesia. Periode penelitian yang digunakan yaitu periode 2015-2018. Sampel dalam penelitian ini diperoleh dengan metode purposive sampling. Berdasarkan kriteria yang ada, didapatkan 19 perusahaan yang menjadi sampel penelitian. Data yang digunakan adalah data sekunder. Teknik analisis data dengan menggunakan analisis regresi linier berganda dengan menggunakan SPSS versi 21. Hasil penelitian menunjukkan bahwa net working capital dan cash conversion cycle berpengaruh terhadap cash holding, sedangkan growth opportunity dan dividend payout tidak berpengaruh terhadap cash holding.
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Yin, Changlie, and Shuchun Zhang. "Research and Development Expenditure, Cash Conversion Cycle and Corporate Performance An Empirical Study of Chinese Listed Companies." In 2nd International Conference on Culture, Education and Economic Development of Modern Society (ICCESE 2018). Paris, France: Atlantis Press, 2018. http://dx.doi.org/10.2991/iccese-18.2018.222.

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Nurmet, Maire, Katrin Lemsalu, and Juri Lehtsaar. "Working capital in Estonian agricultural companies: analysis by size." In 22nd International Scientific Conference. “Economic Science for Rural Development 2021”. Latvia University of Life Sciences and Technologies. Faculty of Economics and Social Development, 2021. http://dx.doi.org/10.22616/esrd.2021.55.050.

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The paper examines the working capital indicators to find out the differences between larger and smaller Estonian agricultural companies. In the task of working capital management, a balance between profitability and liquidity is under investigation. A higher level of current assets ensures higher liquidity, but reduces the profitability. The share of inventories in current assets is relatively high in agricultural companies, and can lead to liquidity problems in adverse circumstances. Low levels of current assets can lead to business interruptions, as insufficient stocks lead to delays in the production process, which in turn is amplified in yields or other outputs. The number of employees is used to distinguish the size of the company. The results show that the smallest agricultural companies have higher liquidity and relatively larger share of highly liquid current assets. Larger agricultural companies maintain a higher level of inventory and have a longer inventory turnover period. Smaller companies have a slightly higher share of loans in current liabilities, so they have to maintain a larger financial buffer. The cash conversion cycle is longer for the smallest and the largest agricultural companies while medium-sized companies have a shorter cash conversion cycle. Smaller companies have the longest receivables turnover, showing that they enable longer payment periods for buyers or may have difficulties collecting receivables from the production sold. Having low market power and long receivables turnover, they have relatively higher need for working capital.
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Hanawa, Kirk. "Thermodynamic Performance Analyses of Mixed Gas-Steam Cycle (2): A Case Study of Aeroderivative Gas Turbine." In ASME 1998 International Gas Turbine and Aeroengine Congress and Exhibition. American Society of Mechanical Engineers, 1998. http://dx.doi.org/10.1115/98-gt-118.

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There are a plenty of proposals to aim the gas turbine cycle thermal efficiency of 60%, such as “Steam-Cooled H-Tech. Combined Cycle”, “Methanol Conversion Regenerative Gas Turbine”, “Kalina Cycle” etc.*1, *2, *4, *5, *6, *7 This paper discusses the predicted performance behaviors of an assumed aircraft-derivative GT of 60MW, when applying into mixed gas-steam cycles like STIG, ISTIG(Intercooled Steam Injection GT) with reasonable minor modifications from the assumed gas turbine. By making case studies of steam-injected binary cycles according to the established analyses method in Part (1), typical calculation results for getting 60% efficiency are presented. The water-injected at LPC, ISTIG cycle is equivalent or superior to other improvement ideas, offering several features listed below. 1) Unnecessary to have a bottoming cycle, saving a lot of investment for the related equipment 2) Quick and stable response for changing duty load, by injecting metered water and steam without air holding vessels like water-cooled heat exchangers
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Kusterer, Karsten, René Braun, Norbert Moritz, Gang Lin, and Dieter Bohn. "Helium Brayton Cycles With Solar Central Receivers: Thermodynamic and Design Considerations." In ASME Turbo Expo 2012: Turbine Technical Conference and Exposition. American Society of Mechanical Engineers, 2012. http://dx.doi.org/10.1115/gt2012-68407.

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Concentrated Solar Power (CSP) technologies are considered to provide a major contribution for the electric power production in the future. Several technologies for such kind of power plants are already in operation. Parabolic troughs, parabolic dishes, Fresnel multi-facet reflectors or heliostats in combination with a central receiver are applied for concentration of the solar irradiation. The energy conversion cycles usually are water/steam cycles (Rankine cycles), but also open gas turbine cycles (Brayton cycle) or combined cycles are possible. One option is to apply closed Brayton cycles using fluids like carbon dioxide or helium. With respect to commercial considerations, the main parameter driving the decision on which cycle to apply for energy conversion is the thermal efficiency of the process. This is due to the fact, that in case of a power plant without additional fuel supply, no fuel costs have to be considered to determine the levelized electricity costs (LEC). Thus, in the first place the capital costs determine the LEC. In CSP plants one main driver for the capital costs are the heliostats and the mirror size, which are necessary to generate the desired amount of electric power. The necessary solar aperture area directly depends on the thermal efficiency of the energy conversion cycle. In this paper different closed Helium Brayton Cycles for application with solar central receivers are analyzed thermodynamically. The thermodynamic calculations are performed by application of a self-developed thermodynamic calculation software, which considers the real gas properties of the fluid. The software calculates the cycle’s thermodynamic diagrams (e.g. T-s-, h-s-diagrams) and determines its efficiency. The results show that thermal efficiencies of approximately 46.6% (and higher) can be reached with a Helium Brayton Cycle. One important parameter is the turbine inlet gas temperature, which is not less than 900 °C. This means that the pressurized receiver for this technology has to bear even higher temperatures. Furthermore, the paper deals with design considerations for compressor and turbine within the closed Helium Brayton Cycle. Based on dimensionless parameters, the major parameters like stage types, number of stages, rotational speed etc. are determined and discussed.
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Jeong, Wi S., Tae W. Kim, and Kune Y. Suh. "Computational Fluid Dynamics of Supercritical Carbon Dioxide Turbine for Brayton Thermodynamic Cycle." In 16th International Conference on Nuclear Engineering. ASMEDC, 2008. http://dx.doi.org/10.1115/icone16-48240.

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The supercritical gas turbine Brayton cycle has been adopted in the secondary loop of the Generation IV Nuclear Energy Systems, and also planned to be installed in power conversion cycles of the nuclear fusion reactors. Supercritical carbon dioxide (SCO2) is one of widely considered fluids for this application. The potential beneficiaries include the Secure Transportable Autonomous Reactor - Liquid Metal (STAR-LM), the Korea Advanced Liquid Metal Reactor (KALIMER), and the Battery Omnibus Reactor Integral System (BORIS) which is being developed at the Seoul National University. The reason for these welcomed applications is that the SCO2 Brayton cycle can possibly achieve higher energy conversion efficiency than the steam turbine Rankine cycle. Gas turbine design is crucial part in achieving this high efficiency. In this paper, a one-dimensional gas turbine analysis methodology is applied for optimal design of the component. Case study result shows that the entire turbine efficiency is increased as hub radius is increased for a same number of stage conditions. Comparing the efficiency which is applied the boundary condition, 4 stage turbines have optimal efficiency.
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Judkins, Roddie R., Timothy R. Armstrong, and Solomon D. Labinov. "A Universal Mathematical Model for a New Combined-Cycle, Fossil-Fuel Power System (LAJ Cycle): Part 1 — Static Model." In ASME Turbo Expo 2002: Power for Land, Sea, and Air. ASMEDC, 2002. http://dx.doi.org/10.1115/gt2002-30611.

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A universal mathematical model (UMM) has been developed and applied to the LAJ (for Labinov, Armstrong, and Judkins) cycle, a new combined-cycle, fossil-fuel power system. The UMM includes static and dynamic models of the system. The static model allows for thermodynamic and thermochemical analyses of the basic system components (reformer, turbine, membrane separator, fuel cell, air compressor, heat exchanger, and other components) and the entire system. Equilibrium compositions of reforming products are defined by minimizing Gibbs free energy of the mixtures using the Lagrangian multiplier method. The dependence of the main system parameters on pressure (P), temperature (T), and water-to-methane molar ratios (N) at the steam reformer have been evaluated. For selected reforming parameters, viz., P = 4.0 MPa and T = 1200 K, the degree of methane conversion is near 95% with N = 5. However, in view of mass and size limitations on equipment, a lower value of N = 3 is preferred, in which case the degree of methane conversion is 88%. The dependence of the system static model parameters on N has been investigated, and economic characteristics of the model have been evaluated for an output power of 250 kW. It is shown that when, N = 3, the fuel cost contribution to overall electricity costs is 1 cent/kWh.
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Nicodemus, Julia Haltiwanger, Morgan McGuinness, and Rijan Maharjan. "A Thermodynamic and Cost Analysis of Solar Syngas From the Zinc/Zinc-Oxide Cycle." In ASME 2014 8th International Conference on Energy Sustainability collocated with the ASME 2014 12th International Conference on Fuel Cell Science, Engineering and Technology. American Society of Mechanical Engineers, 2014. http://dx.doi.org/10.1115/es2014-6389.

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We present a thermodynamic and cost analysis of synthesis gas (syngas) production by the Zn/ZnO solar thermochemical fuel production cycle. A mass, energy and entropy balance over each step of the Zn/ZnO syngas production cycle is presented. The production of CO and H2 is considered simultaneously across the range of possible stoichiometric combinations and the effects of irreversibilities due to both recombination in the quenching process following dissociation of ZnO and incomplete conversion in the fuel production step are explored. In the cost analysis, continuous functions for each cost component are presented, allowing estimated costs of syngas fuel produced at plants between 50 and 500MWth. For a solar concentration ratio of 10000, a dissociation temperature of 2300K, and a CO fraction in the syngas of 1/3, the maximum cycle efficiency is 39% for an ideal case in which there is no recombination in the quencher, complete conversion in the oxidizer, and maximum heat recovery. In a 100MWth plant, the cost to produce syngas would be $0.025/MJ for this ideal case. The effect of heat recuperation, recombination in the quencher, and incomplete conversion on efficiency and cost are explored. The effect of plant size and feedstock costs on the cost of solar syngas are also explored. The results underscore the importance improving quencher and oxidizer processes to reduce costs. However, even assuming the ideal case, the predicted cost of solar syngas is 5.5 times more expensive than natural gas on an energy basis. The process will therefore require incentive policies that support early implementation in order to become economically competitive.
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Reale, Fabrizio, Raniero Sannino, and Raffaele Tuccillo. "A Supercritical CO2 Brayton Cycle Micro Turbine for Waste Heat Conversion: Optimization Layout in Cogenerative Applications." In ASME Turbo Expo 2021: Turbomachinery Technical Conference and Exposition. American Society of Mechanical Engineers, 2021. http://dx.doi.org/10.1115/gt2021-59654.

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Abstract Waste heat recovery (WHR) can represent a good solution to increase overall performance of energy systems, even more in case of small systems. The exhaust gas at the outlet of micro gas turbines (MGTs) has still a large amount of thermal energy that can be converted into mechanical energy, because of its satisfactory temperature levels, even though the typical MGT layouts perform a recuperated cycle. In recent studies, supercritical CO2 Brayton Cycle (sCO2 GT) turbines were studied as WHR systems whose thermal source was the exhausts from gas turbines. In particular, subject of this study is the 100 kW MGT Turbec T100. In this paper, the authors analyze innovative layouts, with comparison in terms of performance variations and cogenerative indices. The study was carried out through the adoption of a commercial software, Thermoflex, for the thermodynamic analysis of the layouts. The MGT model was validated in previous papers while the characteristic parameters of the bottoming sCO2 GT were taken from the literature. The combined cycle layouts include simple and recompression sCO2 bottoming cycles and different fuel energy sources like conventional natural gas and syngases derived by biomasses gasification. A further option of bottoming cycle was also considered, namely an organic Rankine cycle (ORC) system for the final conversion of waste heat from sCO2 cycle into additional mechanical energy. Finally, the proposed plants have been compared, and the improvement in terms of flexibility and operating range have been highlighted.
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Baggenstoss, William G., and Tom L. Ashe. "Mission Design Drivers for Closed Brayton Cycle Space Power Conversion Configuration." In ASME 1991 International Gas Turbine and Aeroengine Congress and Exposition. American Society of Mechanical Engineers, 1991. http://dx.doi.org/10.1115/91-gt-139.

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Future space power requirements will vary from the subkilowatt range for deep space probes, to the hundreds of kilowatts range for a lunar base, to the multimegawatt range for interplanetary propulsion systems. Closed Brayton cycle (CBC) power conversion has the flexibility to be used in all these power ranges and with a variety of heat source options such as isotope, solar, and nuclear. Each of these types of heat sources has different characteristics that make it more appropriate for particular mission profiles and power output ranges. Heat source characteristics can also be major design drivers in the closed Brayton cycle design optimization process. This paper explores heat source selection, the resulting CBC system designs, and discusses optimization methods as a function of the main design drivers. Such power system requirements as power level, man-rated radiation shielding, fuel costs, eclipse/darkness duration, system mass, radiator area, reliability/mission duration, and insolation level are evaluated through several CBC parametric case studies. These cases include: (1) A 500 We power system for deep space probes, (2) A 50 kWe solar dynamic system for earth orbit and other applications, (3) A 100 kWe man-rated lunar/Mars stationary/rover power system, (4) A 200 to 825 kWe power system for the lunar outpost, and (5) 3300 kWe modules for interplanetary propulsion.
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