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    Please use this identifier to cite or link to this item: http://asiair.asia.edu.tw/ir/handle/310904400/112772

    Title: Effects of the 2008 Financial Crisis on the Working Capital Management Policy of U.S. Enterprises
    Authors: 張眾卓;Chang, Chong-Chuo;金大勇;Kam, Tai-Yung;張祐誠;Chang, Yu-Cheng;Li, Chen-Chen;Liu, Chen-Chen
    Contributors: 休閒與遊憩管理學系
    Keywords: working capital management policy;financial crisis;liquidity management policy
    Date: 2019-10
    Issue Date: 2020-08-27 16:21:07 (UTC+8)
    Publisher: 亞洲大學
    Abstract: The literature has not extensively examined the effects of the 2008 financial crisis on
    the working capital management of U.S. enterprises. That economic turmoil may have
    caused enterprises to encounter a lack of funds owing to the severe credit crunch, financial
    constraints, poor liquidity, and other factors, thereby adversely affecting their working
    capital management policies. This study thus investigates the effects of this global crisis on
    the working capital management policy of U.S. enterprises using panel data regression with
    fixed effects. Results reveal no significant effect on the cash conversion cycle (CCC),
    implying that a financial crisis has no effect on the speed of working capital collection.
    However, firms with relatively low current and quick ratios during and after a financial crisis
    period should pay more attention to their liquidity management strategies or take actions
    prior to the eruption of a crisis so as to prevent themselves from slipping into a liquidity
    crisis that in turn weakens their financial situation and leads to financial difficulties.
    Relation: International Journal of Business and Economics
    Appears in Collections:[休閒與遊憩管理學系] 期刊論文

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