Economic uncertainty and working capital management: evidence from Turkey

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dc.authoridTopçu, Güneş / 0000-0001-8810-8945
dc.contributor.authorTopçu, Güneş
dc.date.accessioned2025-01-27T18:56:20Z
dc.date.available2025-01-27T18:56:20Z
dc.date.issued2023
dc.departmentÇanakkale Onsekiz Mart Üniversitesi
dc.description.abstractThe purpose of this paper is to examine the impact of economic uncertainty on the working capital management (WCM) of 96 Borsa Istanbul (BIST)-listed manufacturing firms from 2005Q1 to 2020Q4. A novel economic policy uncertainty (EPU) index for Turkey was used to measure economic uncertainty, and the cash conversion cycle (CCC) was used to measure WCM. Panel data were analysed, and the parameters of regression equations were estimated using fixed or random effects methods. The empirical results obtained indicate that EPU has a negative impact on working capital (WC) efficiency. Specifically, EPU has a significant and increasing impact on the CCC and its components, and the decrease in WC efficiency is demand related. To enhance WC efficiency, managers should maintain credit facilities, better manage the demand side, extend supplier payments, insure credits and reduce accumulated debts.
dc.identifier.doi10.1504/IJEPEE.2023.134812
dc.identifier.endpage22
dc.identifier.issn1752-0452
dc.identifier.issue1
dc.identifier.scopus2-s2.0-85176813377
dc.identifier.scopusqualityQ3
dc.identifier.startpage4
dc.identifier.urihttps://doi.org/10.1504/IJEPEE.2023.134812
dc.identifier.urihttps://hdl.handle.net/20.500.12428/12946
dc.identifier.volume18
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherInderscience Publishers
dc.relation.ispartofInternational Journal of Economic Policy in Emerging Economies
dc.relation.publicationcategoryKonferans Öğesi - Uluslararası - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_Scopus_20250125
dc.subjecteconomic policy
dc.subjectefficiency
dc.subjectliquidity
dc.subjectpanel data
dc.subjectTurkey
dc.subjectuncertainty
dc.subjectworking capital
dc.titleEconomic uncertainty and working capital management: evidence from Turkey
dc.typeConference Object

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