Firma Özelliklerinin İşletme Sermayesi Yönetimine Etkisi: Bist’te İşlem Gören İşletmelerde Bir Analiz
Effects Of Firm Characteristics On Working Capital Management: An Emprical Analysis Of Selected Ise Listed Firms

Summary/Abstract: The objective of this research is to determine the effects of company characteristics including, company size, return on assets, return on equity, total debt ratio, operating profit and net profit margin that are considered as independent variables. And Cash conversion cycle (CCC) which is used as a dependent variable. The related financial data of three sectors; manufacturing, retials and technology sectors extracted quarterly from year 2008 to 2016 on quarter based from (KAP). The multiple linear regression analysis and descriptive satatistics are used to test the hypothesis of the study. The variabkes used in the analysis found to be normaly distributed. The multiple linear regression model found to be statistically significant ( P = 0,000) with the adjusted R2 value of 0,512. The results of statistical analysis on retail sector identified that, the model is significant as a whole (P=0,000) with the adjusted R2 value of 0,601. Interestingly, the firms’ size found noty not have any impact on the level of CCC. Finally the result of on technology sector firms showed that model is statistically significant as whole and with the adjusted R2 value of 42,5%. Finally, cash conversion cycle (CCC) duration is identified 173 days on this sector.

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