Jian-Hsin Chou
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3 publications
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Fitting the term structure of interest rates in illiquid market: Taiwan experience
Jian-Hsin Chou , Yung-Sheng Su , Huei-Wen Tang , Chen-Yu ChenInvestment Management and Financial Innovations Volume 6, 2009 Issue #1
Views: 537 Downloads: 335 TO CITE -
The effect of 2008 financial crisis on trade credit: empirical evidences from Taiwan, China, Hong Kong, Japan and Korea
Min-Sun Horng , Jian-Hsin Chou , Chao-Min HsiehInvestment Management and Financial Innovations Volume 11, 2014 Issue #3
Views: 568 Downloads: 198 TO CITE -
Relationship of cash conversion cycle and PRGap with firm performance: an empirical study of Taiwanese companies
Wang-Tzu Lin , Min-Sun Horng , Jian-Hsin Chou doi: http://dx.doi.org/10.21511/imfi.13(3-2).2016.01Investment Management and Financial Innovations Volume 13, 2016 Issue #3 (cont. 2) pp. 293-299
Views: 1167 Downloads: 818 TO CITEThe study investigates how working capital management (WCM) impacts the profitability and operating performance of publicly traded companies in Republic of China, Taiwan. The authors use the quarterly data of 539 stocks listed on the Stock Exchange of Taiwan from 2008 to 2015, containing 17,248 observations. The study examines whether two WCM variables, namely, the cash conversion cycle (CCC), as well as the gap between days of payables outstanding and days of sales outstanding (PRGap) have any significant effects on firm profitability and operating performance. The findings demonstrate that there are significantly negative relationships between the CCC and performance indicators, whereas there are consistent positive relationships between PRGap and performance indicators.
Keywords: working capital management, performance, cash conversion cycle, PRGap, Tobin’s Q.
JEL Classification: G30, G31, G32, M10
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