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Cash conversion cycle sensitivity by moderating role of exchange rates volatility on firm’s financial performance

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dc.title Cash conversion cycle sensitivity by moderating role of exchange rates volatility on firm’s financial performance en
dc.contributor.author Hussain, Sarfraz
dc.contributor.author Ali Golam Hassan, Asan
dc.contributor.author Quddus, Abdul
dc.contributor.author Rafiq, Muhammad
dc.contributor.author Nguyen Van, Chien
dc.relation.ispartof Business: Theory and Practice
dc.identifier.issn 1648-0627 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2021
utb.relation.volume 22
utb.relation.issue 2
dc.citation.spage 277
dc.citation.epage 289
dc.type article
dc.language.iso en
dc.publisher VGTU
dc.identifier.doi 10.3846/btp.2021.13147
dc.relation.uri https://journals.vgtu.lt/index.php/BTP/article/view/13147
dc.subject cash conversion cycle en
dc.subject exchange rate en
dc.subject profitability en
dc.subject return on assets en
dc.subject return on equity en
dc.description.abstract The cycle of cash conversion relates to the time spread between the value of cash paid for purchases and the cash receipt from turnover. Using the State Bank of Pakistan data, this study introduces the direct and moderating role of the exchange rate, effective through the efficient execution of the cash conversion cycle between Pakistani 302 manufacturing companies from 1999–2015. Using the fixed effect as the static panel model and system GMM as a dynamic panel, it is observed that the exchange rate plays an authoritative moderating role between the cash conversion cycle and the financial performance. Results of the investigation have shown that in static panel analysis with the cash conversion period, the exchange rate has a positive and substantial moderating effect on return on assets and return on equity whereas that ER has a major negative impact on return on assets and return on equity using dynamic panel data analysis GMM. The issue of endogeneity in the static panel is addressed using the advanced approach of the standard error of the panel correction standard error method that changed the position of the significance of the moderator variable. Observers, therefore, intend to evaluate the fluctuations in the exchange rate as one of the variables of the financial output moderator in the context of current metrics such as asset’s returns, equity’s returns and gain more practical expression within their investigated results. © 2021 The Author(s). en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1010594
utb.identifier.obdid 43882571
utb.identifier.scopus 2-s2.0-85114718287
utb.source j-scopus
dc.date.accessioned 2021-10-10T09:48:02Z
dc.date.available 2021-10-10T09:48:02Z
dc.rights Attribution 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by/4.0/
dc.rights.access openAccess
utb.ou Department of Finance and Accounting
utb.contributor.internalauthor Quddus, Abdul
utb.fulltext.affiliation Sarfraz HUSSAIN 1*, Asan ALI GOLAM HASSAN 2, Abdul QUDDUS 3, Muhammad RAFIQ 4, Van CHIEN NGUYEN 5 1, 2, 4 Azman Hashim International Business School, Universiti Teknologi Malaysia, Kuala Lumpur, Malaysia 3 Department of Finance & Accounting, Faculty of Management and Economics, Tomas Bata University in Zlín, Zlín, Czech Republic 5 Thu Dau Mot University, Thu Dau Mot City, Vietnam *Corresponding author. E-mail: mianfraz1@gmail.com
utb.fulltext.dates Received 12 July 2020; accepted 22 March 2021
utb.scopus.affiliation Azman Hashim International Business School, Universiti Teknologi Malaysia, Kuala Lumpur, Malaysia; Department of Finance & Accounting, Faculty of Management and Economics, Tomas Bata University in Zlín, Zlín, Czech Republic; Thu Dau Mot University, Thu Dau Mot City, Viet Nam
utb.fulltext.faculty Faculty of Management and Economics
utb.fulltext.ou Department of Finance and Accounting
utb.identifier.jel G31
utb.identifier.jel G34
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Attribution 4.0 International Kromě případů, kde je uvedeno jinak, licence tohoto záznamu je Attribution 4.0 International