CASH CONVERSION CYCLE SENSITIVITY BY MODERATING ROLE OF EXCHANGE RATES VOLATILITY ON FIRM’S FINANCIAL PERFORMANCE
نویسندگان
چکیده
The cycle of cash conversion relates to the time spread between value paid for purchases and receipt from turnover. Using State Bank Pakistan data, this study introduces direct moderating role exchange rate, effective through efficient execution Pakistani 302 manufacturing companies 1999–2015. fixed effect as static panel model system GMM a dynamic panel, it is observed that rate plays an authoritative financial performance. Results investigation have shown in analysis with period, has positive substantial on return assets equity whereas ER major negative impact using data GMM. issue endogeneity addressed advanced approach standard error correction method changed position significance moderator variable. Observers, therefore, intend evaluate fluctuations one variables output context current metrics such asset’s returns, equity’s returns gain more practical expression within their investigated results.
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ژورنال
عنوان ژورنال: Business: Theory and Practice
سال: 2021
ISSN: ['1648-0627', '1822-4202']
DOI: https://doi.org/10.3846/btp.2021.13147