CASH CONVERSION CYCLE AND PROFITABILITY: AN ECONOMETRIC ANALYSIS ON FIRMS IN BORSA İSTANBUL WHOLESALE AND RETAIL TRADE INDEX

Abstract

In this study, 2004-2018 data set was analyzed by panel data method in order to determine the relationship between cash converison cycle and return on assets of 12 firms in Borsa İstanbul-Wholesale and Retail Trade Index. In empirical analysis, it has been observed that there is no significant relationship between cash conversiton cylce and return on assets, but there is a significant negative relationship between return on assets and leverage. In addition, it has been determined that there is no significant relationship between return on assets and logarithm of total assets.