Asian Journal of Research in Business Economics and Management
  • Year: 2015
  • Volume: 5
  • Issue: 8

Investigating the Relationship (Short-term and Long-term) Between Cash Flow Management and Financial Performance of Firms Listed in Tehran Stock Exchange

  • Author:
  • Abolfazl Ghadiri Moghaddama, Mahdi Filsaraeib, Jamshid Khademic, Javad Askarizadehc, Zahra Mojarad Neyshaburic, Maryam Kavehc
  • Total Page Count: 10
  • Page Number: 116 to 125

aAssociate Professor and Manager, Hakiman Institute of Higher Education, Bojnourd, Iran

bDepartment of Accounting, Bojnourd Branch, Islamic Azad University, Bojnourd, Iran

cM.A. Student of Accounting, Hakiman Institute of Higher Education, Bojnourd, Iran

Online published on 6 August, 2015.

Abstract

This study deals with examining the impact of cash flow management on manufacturing firm financial performance of firms listed in Tehran Stock Exchange. Therefore, the data from 125 firms listed in Tehran Stock Exchange over the 2010 to 2014 period and multivariate regression method are used. The results show that the variables of Days of Sales Outstanding and Days of Inventory Outstanding have a delayed and significant association with the independent variable (Tobin q index).the results also show that Cash Conversion Cycle variable has an immediate and delayed association with Tobin q index. In addition, Operating Cash Cycle variable has a delayed association with Tobin q index as well.

Keywords

Working capital management, cash flow management, financial performance, Tehran Stock Exchange