Why is the average cash conversion cycle of European firms more than two times longer than the

Question:

Why is the average cash conversion cycle of European firms more than two times longer than the average cash conversion cycle of U.S. firms?

Cash Conversion Cycle
Cash conversion cycle measures the total time a business takes to convert its cash on hand to produce, pay its suppliers, sell to its customers and collect cash from its customers. The process starts with purchasing of raw materials from suppliers,...