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

محورهای موضوعی : فصلنامه علمی -پژوهشی تحقیقات اقتصاد کشاورزی

محمد کاوسی کلاشمی ¹ , پریسا خلیق خیاوی ²

1 - استادیار گروه اقتصاد کشاورزی، دانشکده علوم کشاورزی، دانشگاه گیلان.
2 - دکتری اقتصاد کشاورزی، مدرس دانشگاه آزاد اسلامی واحد رشت.

تاریخ دریافت : 1395/12/10 تاریخ پذیرش : 1397/03/09 تاریخ انتشار : 1397/04/01

کلید واژه: داده‌های ترکیبی, نسبت‌های جاری مالی, شاخص‌های مالی, چرخه نقد شوندگی, شرکت های صنایع غذایی,

چکیده مقاله :

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.

چکیده انگلیسی:

    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.

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