A Comparison of the Financial Characteristics of NAFTA and Latin American Manufacturing Firms
| Autor: | Gulser Meric, Cengiz Haksever, J. Drew Procaccino, Ilhan Meric |
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| Jazyk: | angličtina |
| Rok vydání: | 2017 |
| Předmět: | |
| Zdroj: | Emerging Markets Journal, Vol 6, Iss 2, Pp 22-29 (2017) |
| Druh dokumentu: | article |
| ISSN: | 2159-242X 2158-8708 |
| DOI: | 10.5195/emaj.2016.102 |
| Popis: | Comparing the financial characteristics of firms in different countries and different regions has been a popular research topic in finance. However, NAFTA and Latin American manufacturing firms have never been compared. In this paper, we undertake such a study with the MANOVA (Multivariate Analysis of Variance) method and with data drawn from the Research Insight/Global Vintage database in October 2015. Our findings indicate that NAFTA manufacturing firms have less liquidity risk, but more financial risk, compared with Latin American Manufacturing firms. NAFTA manufacturing firms have significantly higher returns on equity due to achieving higher returns on assets and using more financial leverage. Latin American manufacturing firms have more efficient inventory management. However, NAFTA manufacturing firms have more efficient accounts receivable management and total assets management. |
| Databáze: | Directory of Open Access Journals |
| Externí odkaz: |
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