FRICTIONS AND THE CONTRIBUTION OF INVENTORY TO SHAREHOLDER WEALTH

被引：5

作者：

Beauchamp, Charles F. ^{[1
]}

Hardin, William G., III ^{[2
]}

Hill, Matthew D. ^{[3
]}

Lawrey, Chris M. ^{[4
]}

机构：

[1] Middle Tennessee State Univ, Murfreesboro, TN 37182 USA

[2] Florida Int Univ, Miami, FL 33199 USA

[3] Univ So Mississippi, Hattiesburg, MS 39406 USA

[4] Univ Mississippi, University, MS 38677 USA

来源：

JOURNAL OF FINANCIAL RESEARCH | 2014年 / 37卷 / 03期

关键词：

D O I：

10.1111/jfir.12041

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

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.

引用

页码：385 / 403

页数：19

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