FRICTIONS AND THE CONTRIBUTION OF INVENTORY TO SHAREHOLDER WEALTH

FRICTIONS AND THE CONTRIBUTION OF INVENTORY TO SHAREHOLDER WEALTH

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...

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Veröffentlicht in:The Journal of financial research 2014-09, Vol.37 (3), p.385-404
Hauptverfasser: Beauchamp, Charles F., Hardin III, William G., Hill, Matthew D., Lawrey, Chris M.
Format: Artikel
Sprache:eng
Schlagworte:
Inventory management
Management decisions
Shareholders wealth
Stockholders
Strategic planning
Studies
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Zusammenfassung: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.
ISSN:0270-2592
1475-6803
DOI:10.1111/jfir.12041