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Relationship Between Economic Value Added (EVA) and Efficiency of Working Capital: Evidence from 2008 Global Financial Crisis Period

Author

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  • Ali İhsan Akgün

    (Ankara Yildirim Beyazit University)

Abstract

Since the advent of Economic Added Value (EVA) in the litera¬ture used evaluation of business performance, it has become the most prominent measure of corporate structure. EVA is defined as stands for economic added value and the excess of the cost of capital brought by the invested capital. These study was examined as an examination of the relationship between the EVA and its components ratios and ratio of the cash conversion cycle in the operating on listed firms in İstanbul Stock Exhance-BIST 100 companies from 2003 to 2012. The purpose of this study is to investigate the relationship between EVA and working capital efficiency during the global financial crisis. According to the research findings that it is concluded that there is a significant relationship betwe¬en EVA and ratios of compenents of working capital efficiency.

Suggested Citation

  • Ali İhsan Akgün, 2019. "Relationship Between Economic Value Added (EVA) and Efficiency of Working Capital: Evidence from 2008 Global Financial Crisis Period," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 34(112), pages 95-118, October.
    • Handle: RePEc:acc:malfin:v:34:y:2019:i:112:p:95-118
    DOI: https://doi.org/10.33203/mfy.491229
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    More about this item

    Keywords

    Economic Value Added; Efficiency of Working Capital; Performance Measurement; Global Financial Crisis;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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