Inventories and Risk in African Manufacturing  

Oleh:

Fafchamps, Marcel ; Gunning, Jan Willem ; Oostendorp, Remco

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 110 no. 466 (2000), page 861-893.
Topik: INVENTORIES; inventories; risk; manufacturing
Fulltext: 861.pdf (278.24KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Using a panel data set for Zimbabwe which includes firm - specific measures of contractual risk, we show that contractual risk has a major effect on the holding input stocks and, to a lesser extent, the constitution of cash reserves. This is consistent with inventories being a hedge against stockout risk. By contrast, firms facing more inter - annual market risk hold less inventories. This suggests that African manufacturers prefer adapting to long - term market fluctuations as they materialise rather than building up inventories. This interpretation is consistent with the finding that high market risk firms also have a low capacity utilisation rate.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali