The role of the AFA coefficient as a new criterion in the long-run liaison between corporate liquidity and bank credit: Evidence from Turkey

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dc.authoridAcikgoz, Ali Faruk/0000-0002-6426-983X
dc.authoridUZUNOGLU, Sadi/0000-0002-9753-9429
dc.authorid, Nick/0000-0002-0375-2457
dc.authorwosidAcikgoz, Ali Faruk/O-7252-2017
dc.authorwosidUZUNOGLU, Sadi/JWP-5834-2024
dc.authorwosidApak, Sudi/AAM-1310-2020
dc.contributor.authorAcikgoz, Ali Faruk
dc.contributor.authorApak, Sudi
dc.contributor.authorApergis, Nicholas
dc.contributor.authorUzunoglu, Sadi
dc.date.accessioned2024-06-12T10:54:11Z
dc.date.available2024-06-12T10:54:11Z
dc.date.issued2018
dc.departmentTrakya Üniversitesien_US
dc.description.abstractPurpose This paper aims to focus on the absence of a direct criterion for the ideal level of net working capital (NWC) for which Acikgoz (2014) theoretically demonstrates that this NWC can be treated in a manner that allows the assessment of repayments. The study presents and discusses a new multiplier (i.e. the afa coefficient), defined as the ratio of cash equivalents ratio to NWC, measured as the percentage of short-term liabilities (Acikgoz, 2014). In other words, the study explores whether NWC could be an indicator of the ratios of corporate short-term bank credit to STL and of bank credit to total assets. Design/methodology/approach Sectoral panel regressions are used in the case of Turkey, spanning the period 1996-2013, on data obtained from the Central Bank of Turkey. Through second-generation panel unit root tests for cross-section dependence and panel cointegration methodologies, the results illustrate the statistical significance of the CD statistics, indicating the presence of cross dependence, the presence of non-stationary variables and the presence of a long-run association for the variables under study. Findings The findings document that a transformed variable of NWC is more substantive than the explicatory quality of the current ratio and may potentially be used in the prediction of bank credit in corporate liabilities. Originality/value The afa coefficient shows the ratio of liquid assets to NWC as a percentage of STL. The results illustrate that this coefficient plays a significant role for corporate bank credit usage in the case of the Turkish sectoral analysis.en_US
dc.identifier.doi10.1108/JFRA-01-2017-0001
dc.identifier.endpage291en_US
dc.identifier.issn1985-2517
dc.identifier.issn2042-5856
dc.identifier.issue2en_US
dc.identifier.scopus2-s2.0-85061910325en_US
dc.identifier.scopusqualityQ2en_US
dc.identifier.startpage274en_US
dc.identifier.urihttps://doi.org/10.1108/JFRA-01-2017-0001
dc.identifier.urihttps://hdl.handle.net/20.500.14551/18959
dc.identifier.volume16en_US
dc.identifier.wosWOS:000432933300001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherEmerald Group Publishing Ltden_US
dc.relation.ispartofJournal Of Financial Reporting And Accountingen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectBank Crediten_US
dc.subjectAfa Coefficienten_US
dc.subjectCorporate Liquidityen_US
dc.subjectNet Working Capitalen_US
dc.subjectMedium-Sized Enterprisesen_US
dc.subjectEmpirical-Analysisen_US
dc.subjectFinancial Ratiosen_US
dc.subjectCash-Flowen_US
dc.subjectDeterminantsen_US
dc.subjectCostsen_US
dc.subjectTestsen_US
dc.subjectModelen_US
dc.subjectFirmsen_US
dc.subjectLinesen_US
dc.titleThe role of the AFA coefficient as a new criterion in the long-run liaison between corporate liquidity and bank credit: Evidence from Turkeyen_US
dc.typeArticleen_US

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