Empirical Analysis on Inventory Turnover in South Korea
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초록
In this study, we have analyzed inventory turnover ratios in South Korea. We obtained data from the financial statements of 260 companies during the period from 2011 to 2015 and observed that inventory turnover ratios are negatively correlated with gross margin and positively correlated with capital intensity across numerous industries, not just in retail sectors. By incorporating these relationships into our analysis, we produced adjusted inventory turnover ratios to compare inventory performance in 13 industry sectors categorized in this research. We also observe a decreasing trend of the adjusted inventory turnover in Korea from 2011 to 2015. In addition, we searched for the links between operational efficiency and profitability or stability. Inventory turnover ratios seem to be closely related to ratios of inventory to liquid assets but show no link to return on investment. Empirical analysis on inventory turnover ratios will give us managerial insights into how operational efficiency relates to various measures in financial statements.
Abstract
In this study, we have analyzed inventory turnover ratios in South Korea. We obtained data from the financial statements of 260 companies during the period from 2011 to 2015 and observed that inventory turnover ratios are negatively correlated with gross margin and positively correlated with capital intensity across numerous industries, not just in retail sectors. By incorporating these relationships into our analysis, we produced adjusted inventory turnover ratios to compare inventory performance in 13 industry sectors categorized in this research. We also observe a decreasing trend of the adjusted inventory turnover in Korea from 2011 to 2015. In addition, we searched for the links between operational efficiency and profitability or stability. Inventory turnover ratios seem to be closely related to ratios of inventory to liquid assets but show no link to return on investment. Empirical analysis on inventory turnover ratios will give us managerial insights into how operational efficiency relates to various measures in financial statements.
참고문헌 (16)
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