بررسی رابطه بین اجزای مدیریت سرمایه در گردش با نقدشوندگی و سودآوری شرکت‌های صنایع غذایی پذیرفته شده در بورس اوراق بهادار تهران

فصلنامه علمی -پژوهشی تحقیقات اقتصاد کشاورزی

مقاله 7، دوره 10، شماره 38، تیر 1397، صفحه 105-120   

نوع مقاله: مقاله پژوهشی

نویسندگان

محمد کاوسی کلاشمی^{* 1}؛ پریسا خلیق خیاوی²

¹استادیار گروه اقتصاد کشاورزی، دانشکده علوم کشاورزی، دانشگاه گیلان.

²دکتری اقتصاد کشاورزی، مدرس دانشگاه آزاد اسلامی واحد رشت.

تاریخ دریافت: 10 اسفند 1395،  تاریخ بازنگری: 21 خرداد 1396،  تاریخ پذیرش: 09 خرداد 1397 

چکیده

هدف از این مطالعه، بررسی تأثیر سرمایه در گردش بر نقدشوندگی و سودآوری شرکت­های صنایع غذایی پذیرفته شده در بورس اوراق بهادار تهران می­باشد. جامعه آماری پژوهش دربرگیرنده تمامی شرکت­های صنایع غذایی پذیرفته شده در بورس اوراق بهادار تهران در سال­های 1388 تا 1392 است که با استفاده از داده­های ترکیبی مورد مطالعه قرار گرفته­اند. در این پژوهش از متغیرهای نسبت جاری، نسبت بدهی­های جاری به کل دارایی، نسبت کل بدهی به کل دارایی و نسبت دارایی جاری به کل دارایی به عنوان شاخص سرمایه در گردش استفاده شد. نتایج تجربی نشان دادند که بین نسبت دارایی جاری به بدهی جاری و سودآوری رابطه مثبت و معنی­دار آماری وجود دارد، اما بین نسبت بدهی جاری به کل دارایی و نسبت کل بدهی به کل دارایی با سودآوری رابطه منفی و معنی­دار آماری وجود دارد. هم‌چنین، بین نسبت دارایی جاری به کل دارایی­ها و سودآوری رابطه معنی­دار آماری وجود ندارد. بررسی رابطه بین اجزای مدیریت سرمایه در گردش و نقدینگی نشان داد که بین نسبت بدهی جاری به کل دارایی و نقدینگی رابطه منفی و معنی­دار آماری وجود دارد. از سوی دیگر، بین نسبت دارایی جاری به کل دارایی­ها و نقدینگی رابطه مثبت و معنی­دار آماری وجود دارد. افزون بر این، بین نسبت دارایی جاری به بدهی جاری و نسبت کل بدهی به کل دارایی با نقدینگی رابطه معنی­داری آماری وجود ندارد.

کلیدواژه‌ها

داده‌های ترکیبی؛ نسبت‌های جاری مالی؛ شاخص‌های مالی؛ چرخه نقد شوندگی؛ شرکت های صنایع غذایی

عنوان مقاله [English]

The Relationship among the Components of Working Capital Management with Liquidity and Profitability in Food Industry

نویسندگان [English]

M Kavoosi Kalashami¹؛ p Khaligh Khiavi²

¹Assistant Professor, Department of Agriculutral Economics, Faculty of Agricultural Sciences, University of Guilan

چکیده [English]

    The purpose of this study was to investigate the effect of working capital on liquidity and profitability of food industry companies listed in the Tehran Stock Exchange. The study community consisted of all food industry companies listed in Tehran stock exchange during 2009-2013 which were studied using panel data. This research used the variables of current ratio, current assets to current liabilities ratio, current assets to total assets ratio, current liabilities to total assets ratio and debt to total assets ratio as working capital index. Empirical results showed there is positive relationship between current assets to current liabilities Ratio, but there is negative relationship between current liabilities to total assets ratio and debt to total assets ratio with profitability. Also there is not any statistically significant between current assets to total assets ratio and profitability. The relationship between the components of working capital management with liquidity showed that there is negative relationship between current assets to current liabilities ratio with liquidity. On the other hand, there is positive relationship between current assets to total assets ratio with liquidity. Furthermore, there is not any statistically significant between current assets to current liabilities ratio and debt to total assets ratio with liquidity.

کلیدواژه‌ها [English]

Working Capital, profitability, liquidity, Tehran Stock Exchange, Food Industry

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