دانلود مقاله ISI انگلیسی شماره 80249
ترجمه فارسی عنوان مقاله

ساختار مالکیت و سیاست های موجودی

عنوان انگلیسی
Ownership structure and inventory policy
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
80249 2007 8 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : International Journal of Production Economics, Volume 108, Issues 1–2, July 2007, Pages 213–220

ترجمه کلمات کلیدی
موجودی؛ موسسات مالی
کلمات کلیدی انگلیسی
Inventories; Main blockholders; Financial institutions
پیش نمایش مقاله
پیش نمایش مقاله  ساختار مالکیت و سیاست های موجودی

چکیده انگلیسی

This paper makes use of a database of Spanish manufacturing firms to explore the effect of a firm's ownership structure on its inventory policy. We have argued that the presence of institutional investors reduces a firm's liquidity needs and prevents overinvestment policies. This, in turn, leads to lower equilibrium inventory levels. Also, we expect, on average, less inventory investment when bank-equity financing is compared with bank-debt financing. Finally, other components of ownership structure like the number of blockholders prevent inventory overinvestment. This may have an impact on the economic cycle as more firms are floated on the stock market hence changing their ownership structure.