Akademik Veri Yönetim Sistemi
12th International Conference on Finance and Banking, Ostravice, Çek Cumhuriyeti, 28 - 29 Ekim 2009, ss.179-185
As it is known, one of the reasons which cause change in working capital from one period to another is the change in management efficiency. The change in management efficiency will effect the change in working capital in a way as increaser or reducer from one period to another. In this study, the effect of change in management efficiency in working capital management in to the change in working capital is compared by company size and sectors. The data of this study covers sixty periods as the total of quarterly financial statements of 55 manufacturing companies which were in operation in Istanbul Stock Exchange (ISE) between the years 1993 and 2007. In every period we studied, for inventories, short term commercial receivables and short term commercial liabilities, we calculated the effect of change in management efficiency on to the effect of working capital change. In all sectors we considered, in the change in working capital, we observed the effect of reducing of efficiency in inventory management. It is also observed that efficiency change in the management of the short term commercial receivables and the short term commercial liabilities by the company sizes and sectors makes a positive effect in to the change in working capital.