It all deteriorated over time, despite the attempts by governments to stop this process. This is caused by the fact that future sales of this customer are saved this way. A central line of research concerns the development of a theory of technological mediation, that conceptualizes how technologies help to shape our knowledge and understanding of the world, our ethical frameworks, and existential and religious concerns. Fokkinga, Counting Join Trees. We give a concise, structured, and calculational proof of a theorem that yields a program specification for a given, specific, program simulation. They used a sample consisting of companies listed on the Athens Stock Exchange from the period of

They found evidence indicating that in periods of financial constraints, credit terms tended to become longer than normal, and the other way around, when money is easy to get, these terms became shorter than normal Swartz, Advantages of this approach are mainly the reduction in costs due to the low levels of inventories and account receivables. Nevertheless, the notation also has an interpretation of its own, in abstract mathematical terms rather than concrete real world terms. Given are three numbers N,p,q with p at most 3 N and q less than N. The findings of this study for the number of days of inventories are on average 36,88 days with a median of 28,46 days. Zwiers, Program Specifications for Program Simulations. There are several motives for lower or higher levels of inventories and highly depends on what business a company is in.

So, taking some of the ingredients to be the identity, the concept specialises to the concept of monad, and taking other ingredients to be the identity it specialises to co-monads. The first reason for this assumption is that the motive of using large inventories concerning the avoidance of production stoppages are not applicable for the firms in this study.

Liesbeth Stam KU Leuven: The differences of for example Garcia-Teruel and Martinez-Solano is caused by the fact that they focussed on smaller firms and Sharma and Kumar focussed on the booming market of India. Petersen and Rajan did research on the theories and motives of the use or granting of trade credit.


This means that managers of firms can create value by keeping the levels of accounts payables to a minimum.

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Another component of working capital is accounts payable, which evaluatoin in other words not extending trade credit but receiving it from a supplier.

More recently Pike et al. Financial institutions, banking, insurance, utility companies, renting and real-estate were excluded from the sample because of their specific nature of services. The number of days accounts receivables, inventories and accounts payables are used as the operationalization of the management of trade credit and inventory.

Research | Peter-Paul Verbeek

His sample consisted of non-financial firms. We propose a unified and complete solution for expert finding in organizations, including not only expertise identification, but also expertise selection functionality. The basic idea is that a value which is written out explicitly in the program text by way of typical example, is replaced by a special constant that asks the user to evaaluation in parts of the value, as needed by the computation.

We show how to adapt the semantics S in a simple set theoretic way, obtaining a semantics S’ that satisfies, in addition to some obvious requirements, also the property that: Other research such as Deloof and Shin and Soenen used respectively 5, and 58, firm-years. This optimal level can be reached if it maximizes the value of a firm Howorth and WestheadDeloofAfza and Nazir Skip to main content. Research on working capital policies To make this clearer the 2 percent can be transformed in an annual rate of 43 percent, which is enormous compared to normal annual rates.

These firms use these accounts payables as a short-term source of funds. None of the regression models using both dependent variables showed a significant relation between the cash conversion cycle and the profitability of a dissertqtion.


Er wordt een model opgesteld dat de systeemprestaties beschrijft en kritische factoren aangeeft. Constraints in databases may be maintained while transactions are executed, by the automatic invocation of suitable rules containing actions that compensate any constraint violation within the transactions.

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Working capital management during crisis years To understand the expectations of how working capital is managed during crisis years, the main problem firms face in times of a crisis needs to be explained. Deze bundel van weinig tekst en veel opgaven is bedoeld als een eerste kennismaking met programmeren, aan de hand van een functionele utwents. The findings of this study for the number of days of inventories are on average 36,88 days with a median of 28,46 days.

Fokkinga, Cost and feasibility estimations of an execution plan. Journal of Financial and Strategic Decisions, 11 2pp. Het systematisch ontdekken en gebruiken van wetten voor programma’s is het onderwerp van mijn promotie-onderzoek geweest. Unpublished Technical Report, 6 pages.

The remainder of this page describes the publications in more detail.

This is because these firms are relatively highly developed concerning their production and supply chain. This can be transformed in an huge annual rate of almost 40 percent. Essentials of Financial Management. This relation is consistent with ofrm results of the correlation analyses conducted by Falope and AjiloreKaraduman et al. Also the macro-economic differences can explain some of the difference.