R., Lopez-de-Silanes F., Shleifer A., Vishny R.. Legal Р ers can increase corporate profitability by setting up proper trade credit Р Determinants of External Finance. Journal of Finance, 1997, Р policy and inventory policy to handle correctly the cash conversion cycle Р 52: 1131-1150.Р and keep accounts receivables, accounts payables and inventory to an Р[18] LaPorta R., Lopez-de-Silanes F., Shleifer A., Vishny R.. Law and Р optimum level. Although the conclusion is drawn from analyzing data of Р Finance. Journal of Political Economy, 1998, 106: 1113-1155.Р listed panies, it is meaningful for panies in Р注释 other industries and small enterprises as well.Р Key Words Working Capital; Profitability; Cash Conversion CycleР①核心利润= 主营业务收入–主营业务成本–营业税金及附加–Р126 南开管理评论 2009 年 12 卷, 第 6 期第 121-126 页
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