Optimizing up- and downstream working capital interfaces (i.e., by shortening receivable terms, extending payable terms, or reducing inventories) has become increasingly important for companies of all sizes. For small companies, this is the case because they have no or merely limited access to...

The puzzling momentum strategies’ payoffs are defying the rational financial theory asserting the stocks returns’ unpredictability. Moreover, the momentum effect persist the main stocks returns’ anomaly escaping any risk-based explanation. The resilience of this phenomenon had favoured the...