Cash Conversion Cycles Analysis of Food and Beverage Companies: Comparison of Turkey-United Kingdom-United States of America
Keywords:
Cash conversion cycle, Food and beverage companies, Turkey, United Kingdom, United States of AmericaAbstract
The aim of this study is to analyze the cash conversion cycle of the food and beverage companies in Turkey, United Kingdom and United States of America (USA) to make a comparison of these three countries between the years of 2014-2016. In accordance with this purpose, the data of food and beverage services sub-sector in Turkey have been obtained from Central Bank of the Republic of Turkey’s (CBRT) company accounts. Also the data of publicly held food and beverage companies in UK and USA have been obtained from Thomson & Reuters EIKON database. By using the financial reports of the companies that included in study the cash conversion cycles are analyzed comparatively. As a result of the study, it has been determined that food and beverages companies in
Turkey have longer cash conversion cycle than companies in the UK and USA. It has also found, food and beverage companies in Turkey had the longer inventory turnover and receivable turnover than UK and USA companies. Additionally, it has determined that food and beverage companies in the USA have a successful working capital management.
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