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Frictions And The Contribution Of Inventory To Shareholder Wealth

Author

Listed:
  • Charles F. Beauchamp
  • William G. Hardin III
  • Matthew D. Hill
  • Chris M. Lawrey

Abstract

type="main" xml:lang="en"> Shareholder wealth effects associated with inventory are examined. Initial results indicate a positive and significant relation between shareholder wealth and inventory. Additional findings suggest that operating conditions, financial constraints, and working capital behavior influence the value of inventory. These findings are consistent with tactical and strategic decisions influencing managers to hold inventory. Overall, the results suggest that shareholders price the strategic advantages accompanying inventory.

Suggested Citation

  • Charles F. Beauchamp & William G. Hardin III & Matthew D. Hill & Chris M. Lawrey, 2014. "Frictions And The Contribution Of Inventory To Shareholder Wealth," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 37(3), pages 385-404, September.
    • Handle: RePEc:bla:jfnres:v:37:y:2014:i:3:p:385-404
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    Cited by:

    1. Greg Filbeck & Xin Zhao & Ryan Knoll, 2017. "An analysis of working capital efficiency and shareholder return," Review of Quantitative Finance and Accounting, Springer, vol. 48(1), pages 265-288, January.
    2. Eunhye (Olivia) Park & Woo-Hyuk Kim, 2021. "The effect of inventory turnover on financial performance in the US restaurant industry: The moderating role of exposure to commodity price risk," Tourism Economics, , vol. 27(7), pages 1417-1429, November.

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