Detail práce

Working capital management in retail

Autor: Mgr. Michael Dibon
Rok: 2020 - letní
Vedoucí: Mgr. Aleš Čornanič
Konzultant:
Typ práce: Diplomová
Finance, finanční trhy a bankovnictví
Jazyk: Anglicky
Stránky: 68
Ocenění:
Odkaz:
Abstrakt: This master thesis is focused on operating working capital and its implication towards corporate
performance in the retail industry in a relevant business framework that takes into account
structural changes in the industry. Our results suggest that there is a negative relationship
between cash conversion cycle and corporate performance. Therefore, the management of retail
companies should focus on shortening the cash conversion cycle to create value. However, in
the apparel retail industry, companies with exceptionally long cash conversion cycles are better
off keeping working capital investments high as those companies generate on the WC higher
profitability than are the opportunity costs for this allocated capital. Finally, we have not found
enough evidence to conclude that investment strategies based on the cash conversion cycle are
able to generate alpha. However, there seems to be a sign of persistence for value-weighted
portfolios.

Partneři

Deloitte

Sponzoři

CRIF
McKinsey
Patria Finance