Sales which represent the accelerat

Sales which represent the accelerator were included as an explanatory variable because the level of investment in working depends on the sales volume. An increase in sales causes an increase in working capital investment, particularly inventory and accounts receivable. Hill et al. (2010) noted that the relationship between sales and working capital investment can suffer from endogeneity problems given that working capital investment can actually influence sales growth. Liberal credit and inventory policies, for example, can stimulate sales growth. Sales growth may induce the firm to invest in more working capital. A positive relationship between sales growth and working capital investment is hypothesized. Sales growth was calculated as:

Results (English) 1:

Sales which represent the accelerator were included as an explanatory variable because the level of investment in working depends on the sales volume. An increase in sales causes an increase in working capital investment, particularly inventory and accounts receivable. Hill et al. (2008) noted that the relationship between sales and working capital investment can suffer from endogeneity problems given that working capital investment can actually influence sales growth. Liberal credit and inventory policies, for example, can stimulate sales growth. Sales growth may induce the firm to invest in more working capital. A positive relationship between sales growth and working capital investment is hypothesized. Sales growth was calculated as:

Results (English) 2:

Sales mà đại diện the accelerator as an explanatory variable included là vì level of Investment print depends on the sales volume working. An INCREASE print print sales tăng Causes police working capital investment, inventory and Accounts Receivable Particularly. Hill et al. (2010) noted rằng relationship the between sales and working capital investment can Suffer from endogeneity problems working capital investment given intervention Actually mà sales Influence Growth. Liberal credit policies and inventory, for example, can stimulate sales Growth. Growth Sales induce the firm to invest garment printing more working capital. A positive working relationship the between sales and capital investment Growth is hypothesized. Sales Growth was calculated as: