最小二乘法应收账款英文参考文献和翻译 第2页

2) To test the hypothesis of inverse relation between trade debtors and closing inventories.
The study is also important from the business cycle's point of view. It is a common observation that a firm faces liquidity problem during recessions and has
excess inventories at the beginning of a contractionary period. During the recession, excess inventories lead to other problems, such as a decrease in the market price of the product and a decline in production and employment levels etc. We test the hypothesis that a firm can sell its excess inventories if it can afford to increase its receivables. Although, this will not solve the problem of liquidity it may, however, protect a firm from the risk of price shocks and improve its profitability.

II. THE ACCOUNTING INSIGHTS
We adopt an econometric approach in the study. However, it is useful to recall the main insights of financial accounting on which most of the models in corporate finance tend to rely. The accounting and the economic approaches differ fundamentally in the literature. The accounting studies focus attention on the mechanism of the flow of funds (the origins of the funds and their use). While, in
economic theory attention has been paid to the motivation of investors and managers. Economics considers the rationale implied by the application and use of funds. Consequently, studies by economists tend to answer questions that are not usually addressed by the accounting literature. Various companies have different accounting policies. Particularly in Depreciation Accounting, Inventories Valuation, and Bad Debts Estimates, the policies may differ significantly. The effects of this variability have been minimized in the study by converting corporate accounts into "The Uniform Accounting System 1". The procedure, which is described in the forthcoming section, is related to the literature on “economic tests”. The structure of the complete model proposed in this paper is given in figure: 1. This figure shows the inter dependency and relations between dependent and independent variables. Figure 3 in the next section show the quantification of the relations between those variables.信号波形合成实验电路+滤波器和加法器+电路图
Under the financial accounting framework, trade credits are classified in the
following two categories:1) Accounts Receivable and

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