الكلية: كلية الأعمال
الجهة البحثية: جامعة مؤتة
عنوان البحث المنشور:
Partial adjustment toward target accounts payable ratio
سنة النشر: 2017
ملخص البحث المنشور:
This study examines the existence of a target accounts payable ratio and its determinants. Using data from 104 firms spanning the period 2000–2014, the analysis applies the system-generalized method of moments methodology. The findings reveal that Jordanian firms do have a target accounts payable ratio, with more than 65% of deviations from this target corrected within a year. Growth, positive growth, and the supply of credit positively influence the accounts payable ratio, while larger firms rely less on trade credit for financing purchases. The study has important research and practical implications. Researchers could extend the findings by covering longer periods and including non-listed firms to enhance generalizability. For practitioners, the results highlight the role of trade credit policy in firm performance and its dependency on access to capital markets. Regulators and policymakers are encouraged to support banking systems that facilitate firms in achieving their target accounts payable ratio. Firm managers, in turn, should recognize the significance of trade credit in financing sales growth and improving firm value and performance. To the best of the author’s knowledge, this is the first study to investigate the partial adjustment model and determinants of accounts payable in Jordan, contributing to the limited literature on target trade credit policies.
رابط البحث المنشور:
https://www.emerald.com/insight/content/doi/10.1108/imefm-01-2017-0019/full/html