Liquidity management, operating performance, and corporate value: evidence from Japan and Taiwan
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[33, 35] established a negative correlation between CCC and profitability.
“contrary to [33, 35] who established a negative correlation between the two.”
From Exploring the Causal Effect of Cash Conversion Cycle Signals on Profitability of Tanzanian Manufacturing Firms (2024) · cites this paper as [35]
The reviewed literature presents mixed findings regarding the correlation of CCC components with profitability, showing either positive or negative relationships.
“Researches present mixed findings regarding the correlation of CCC components with profitability. The reviewed literature showed either positive relationship or negative relationship.”
From Exploring the Causal Effect of Cash Conversion Cycle Signals on Profitability of Tanzanian Manufacturing Firms (2024) · cites this paper as [35]
Cites
Management Ownership and Market Valuation: An Empirical Analysis
Morck, R., Shleifer, A., & Vishny, R. (1988) · Journal of Financial Economics · doi:10.1016/0304-405x(88)90048-7 · Cited by 7,585 · see citing works
Additional evidence on equity ownership and corporate value
McConnell, J. J., & Servaes, H. (1990) · Journal of Financial Economics · doi:10.1016/0304-405x(90)90069-c · Cited by 4,619 · see citing works
Ownership structure, investment, and the corporate value: An empirical analysis
Cho, M. (1998) · Journal of Financial Economics · doi:10.1016/s0304-405x(97)00039-1 · Cited by 1,090 · see citing works
Lang, L. H. P., & Litzenberger, R. H. (1989) · Journal of Financial Economics · doi:10.1016/0304-405x(89)90077-9 · Cited by 818 · see citing works
A Cash Conversion Cycle Approach to Liquidity Analysis
Richards, V. D., & Laughlin, E. J. (1980) · Financial Management · doi:10.2307/3665310 · Cited by 628 · see citing works
Corporate returns and cash conversion cycles
Jose, M. L., Lancaster, C., & Stevens, J. L. (1996) · Journal of Economics and Finance · doi:10.1007/bf02920497 · Cited by 427 · see citing works
Estimating Corporate Liquidity Requirements: A Simplified Approach
Gitman, L. J. (1974) · Financial Review · doi:10.1111/j.1540-6288.1974.tb01453.x · Cited by 184 · see citing works
HOW USEFUL ARE COMMON LIQUIDITY MEASURES
Kamath, R. R. (1989) · Cited by 83 · see citing works
CASH MANAGEMENT AND THE CASH CYCLE
Hager, H. C. (1976) · Cited by 32 · see citing works
Daiwa bank's reputational crisis: valuation effects on bank-firm relationshipsPreprint
Chiou, I. (1999) · RePEc: Research Papers in Economics · Cited by 14 · see citing works
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Afrifa, G. A., Alshehabi, A., Tingbani, I., & Halabi, H. (2021) · Review of Quantitative Finance and Accounting · doi:10.1007/s11156-020-00903-y · Cited by 26 · see citing works
Tago, G., & Sumawe, S. (2024) · International Journal of Economics, Finance and Management Sciences · doi:10.11648/j.ijefm.20241205.19
- Authors
- Wang, Y.-J.
- Affiliations
- National Chung Cheng University (TW)
- Corresponding author
- Wang, Yung-Jang
- ORCID
- Wang, Yung-Jang
- Venue
- Journal of Multinational Financial Management
- Publisher
- Elsevier BV
- Published
- 2002-04
- Volume
- 12
- Issue
- 2
- Pages
- 159-169
- ISSN
- 1042-444X (ISSN-L)
- OpenAlex
- W2027179083
- Cited by
- 423
- References
- 10
- Citations by year
- 2026: 10 · 2025: 21 · 2024: 29 · 2023: 26 · 2022: 24 · 2021: 26 · 2020: 37 · 2019: 50 · 2018: 26 · 2017: 15 · 2016: 25 · 2015: 27 · 2014: 38 · 2013: 22 · 2012: 18
- FWCI
- 3.86
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Multinational Financial Management (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Working Capital and Financial Performance
- Social Sciences › Business, Management and Accounting › Accounting › Corporate Finance and Governance
- Social Sciences › Business, Management and Accounting › Accounting › Financial Analysis and Corporate Governance
- Keywords
- liquidity management, operational performance, organizational values, cash conversion cycle, return on assets, return on equity, q-theory, Japanese companies, Taiwanese firms, cross-national comparison
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Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
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