THE TREND IN WC MANAGEMENT AND ITS IMPACT ON FIRMS PERFORMANCE A CASE OF PSX100 INDEX

http://dx.doi.org/10.31703/gmsr.2021(VI-III).04      10.31703/gmsr.2021(VI-III).04      Published : Sep 2021
Authored by : Yousaf Khan , Shah Hussain , Muhammad Israr

04 Pages : 54-70

References

  • Abuzayed, B. (2012). WC management and firms' performance in emerging markets: the case of Jordan. International Journal of managerial finance, 8(2), 155-179.
  • Addae, A. A., & Nyarko-Baasi, M. (2013). WC management and profitability: an empirical Investigation in an Emerging Market. Research Journal of Finance and Accounting, 4(15), 143-152.
  • Afeef, M. (2011). Analyzing the Impact of WC management on the Profitability of SME's in Pakistan. International Journal of Business and Social Science, 2(22), 173-183.
  • Akinlo, O., & Olufisayo, O. (2011). The effect of working capital on profitability of firms in Nigeria: Evidence from general method of moments (GMM). Asian Journal of Business and Management Sciences, 1(2), 130-135.
  • Ali, I., Rehman, K. U., Ali, S. I., Yousaf, J., & Zia, M. (2010). Corporate social responsibility influences, employee commitment and organizational performance. African journal of Business Management, 4(13), 2796-2801.
  • Alzoubi, S., Saleem, E., & Selamat, M. H. (2012). Proposing Conceptual Framework for Reducing Earning Management Using Ownership Structure Mechanism: Jordanian Companies Perspective. Journal of Finance, Accounting & Management, 3(2), 58-78.
  • Appuhami, B. A. R. (2008). The Impact of Firm's Capital Expenditure on WC management: An Empirical Study across Industries in thailand. International Management Review, 4(1), 8-21.
  • Azam, M., & Haider, S. I. (2011). Impact of WC management on firms' performance: evidence from non-financial institutions of KSE-30 index. Interdisciplinary journal of contemporary research in business, 3(5), 481- 492.
  • Bagchi, B., & Khamrui, B. (2012). Relationship between WC management and profitability: A study of selected FMCG companies in India. Business and economics journal.
  • Baños-Caballero, S., García-Teruel, P. J., & Martínez-Solano, P. (2010). WC mangement in SMEs. Accounting & Finance, 50(3), 511- 527.
  • Behrendt, S., Wittchen, H.-U., Höfler, M., Lieb, R., & Beesdo, K. (2009). Transitions from first substance use to substance use disorders in adolescence: is early onset associated with a rapid escalation? Drug and alcohol dependence, 99(1-3), 68-78.
  • Besley, S., & Meyer, R. L. (1987).
  • Bhattacharya, C. B., & Sen, S. (2004). Doing better at doing good: When, why, and how consumers respond to corporate social initiatives. California management review, 47(1), 9-24.
  • Bhattacharya, U., Daouk, H., & Welker, M. (2003). The world price of earnings opacity. The Accounting Review, 78(3), 641-678.
  • Bieniasz, A., & Gołaś, Z. (2011). The influence of WC management on the food industry enterprises profitability. Contemporary Economics, 5(4), 68-81.
  • Bilal, A., Naveed, M., & Taliv, N. (2011). Impact of working capital on profitability of cement sector of Pakistan. Contemporary Research in Business, 3, 661-666.
  • Bricker, J. B., Peterson Jr, A. V., Sarason, I. G., Andersen, M. R., & Rajan, K. B. (2007). Changes in the influence of parents' and close friends' smoking on adolescent smoking transitions. Addictive behaviors, 32(4), 740-757.
  • Charitou, M. S., Elfani, M., & Lois, P. (2010). The effect of WC management on firm's profitability: Empirical evidence from an emerging market. Journal of Business & Economics Research, 8(12), 63-68.
  • Deloof, M., & Jegers, M. (1996).
  • Deloof. (2003).
  • Eda, O., & Mehmet, S. (2009). Relationship between efficiency level of WC management and return on total assets in ISE. International journal of Business and Management, 4(10)
  • Eljelly, A. M. (2004). Liquidity-profitability tradeoff: An empirical investigation in an emerging market. International journal of commerce and management, 14(2), 48-61.
  • Filbeck, G., & Krueger, M. T. (2005).
  • Ganesan, V. (2007). An analysis of WC management efficiency in telecommunication equipment industry. Rivier academic journal, 3(2), 1-10.
  • Gilbert, M. R., Dignam, J. J., Armstrong, T. S., Wefel, J. S., Blumenthal, D. T., Vogelbaum, M. A., . . . Won, M. (2014). A randomized trial of bevacizumab for newly diagnosed glioblastoma. New England Journal of Medicine, 370(8), 699-708.
  • Gill, A., Biger, N., & Mathur, N. (2010). The relationship between WC management and profitability: Evidence from the United States. Business and economics journal, 10(1), 1-9.
  • Gumbochuma, G., Hamandishe, V., Nyahangare, E., Imbayarwo-Chikosi, V., & Ncube, S. (2013). Ethnoveterinary practices for poultry and cattle in Zimbabwe: a case study of Takavarasha village. SJAS, 2(12), 355-359.
  • Haresh, B. (2012). WC management and profitability: Evidence from India-An empirical study. Ganpat University-Faculty of Management Studies Journal of Management and Research, 5, 1-16.
  • Hawawini, G., Viallet, C., & Vora, A. (1986). Industry influence on corporate working capital decisions.
  • Howorth, C., & Westhead, P. (2003). The focus of WC management in UK small firms. Management Accounting Research, 14(2), 94- 111.
  • Hussain, A., Hunjra, A. I., Faisal, F., & Baig, I. A. (2017). A Study on Working Capital Practices across Manufacturing Sector of Pakistan. Journal of Managerial Sciences, 11(03).
  • Hussain-Khaliq, S. (2004). Eliminating child labour from the Sialkot soccer ball industry: Two industry-led approaches. Journal of Corporate Citizenship(13), 101-107
  • Inun Jariya, A. (2013). Management efficiency and profitability.
  • Jayarathne, T. (2014). Impact of WC management on profitability: Evidence from listed companies in Sri Lanka. Paper presented at the Proceedings of the 3rd International Conference on Management and Economics.
  • Juan García-Teruel, P., & Martinez-Solano, P. (2007). Effects of WC mangement on SME profitability. International Journal of managerial finance, 3(2), 164-177.
  • Kaddumi, T. A., & Ramadan, I. Z. (2012). Profitability and WC management: the Jordanian case. International Journal of Economics and Finance, 4(4), 217-226.
  • Karaduman, H. A., Akbas, H. E., Ozsozgun, A., & Durer, S. (2010). Effects of WC management on profitability: the case for selected companies in the Istanbul stock exchange (2005-2008). International Journal of Economics and Finance Studies, 2(2), 47-54.
  • Kim, S. J., & Lee, Y. H. (2012). Recent and Further Researches for Supply Chain Finance. 대한산업공학회 춘계공동학술대회 논문집, 2469-2478.
  • Lazaridis, I., & Tryfonidis, D. (2005).
  • Lazaridis, I., & Tryfonidis, D. (2006). Relationship between WC management and profitability of listed companies in the Athens stock exchange. Journal of financial management and analysis, 19(1).
  • Long, M. S., Malitz, I. B., & Ravid, S. A. (1993). Trade Credit, Quality Guarantees, and Product Marketability. Financial Management, 22(4), 117-127. https://doi.org/10.2307/3665582.
  • Marquardt, J. R., & Marcus, J. M. (2017). Molecular Tools for Understanding Landscape Genetics and the Population Genetic Effects of Habitat Restoration on Butterflies. The Journal of the Lepidopterists' Society, 72(4), 253-265.
  • Mbawuni, J. (2015). Examining Students' Feelings and Perceptions of Accounting Profession in a Developing Country: The Role of Gender and Student Category. International Education Studies, 8(6), 9-23.
  • Miranda, P. G. d. (2013). Guerra e Identidade: um estudo da marcialidade no Heimskringla. Universidade Federal do Rio Grande do Norte.
  • Mohamad, N. E. A. B., & Saad, N. B. M. (2010). WC management: The effect of market valuation and profitability in Malaysia. International journal of Business and Management, 5(11), 140.
  • Moss, J. D., & Stine, B. (1993). Cash Conversion Cycle and Firm Size: A Study of Retail Firms. Managerial Finance, 19(8), 25-34. https://doi.org/10.1108/eb013739.
  • Mujahith, M., & Munas, F. (2016). Study on WC management and profitability on food, beverage and tobacco companies in Sri Lanka.
  • Naser, H. A. (2013). Assessment and management of heavy metal pollution in the marine environment of the Arabian Gulf: a review. Marine pollution bulletin, 72(1), 6-13.
  • Otieno, O. L. (2015). The Relationship between capital structure, performance and replacement of CEO in firms listed on the Nairobi Securities Exchange.
  • Padachi, K. (2006). Trends in WC management and its impact on firms' performance: an analysis of Mauritian small manufacturing firms. International Review of business research papers, 2(2), 45-58.
  • Raheman, A., Afza, T., Qayyum, A., & Bodla, M. A. (2010). WC management and corporate performance of manufacturing sector in Pakistan. International Research Journal of Finance and Economics, 47(1), 156-169.
  • Ramachandran, A., & Janakiraman, M. (2009). The Relationship Between WC management Efficiency and EBIT. Managing Global Transmissions, 7(1), 61-74.
  • Samiloglu, F., & Demirgunes, K. (2008). The effect of WC management on firm profitability: Evidence from Turkey. The International journal of applied Economics and Finance, 2(1), 44-50.
  • Sandeep bhattacharya, u. p. (2002). improvement in oxidative status with yogic breathing in young healthy males sandeep bhattacharya', us pandey and ns verma. indian j physio! pharmacal, 46(3), 349-354.
  • Shin, H. H., & Soenen, L. (1998).
  • Singhania, N., Puri, D., Madhu, S., & Sharma, S. (2008). Assessment of oxidative stress and endothelial dysfunction in Asian Indians with type 2 diabetes mellitus with and without macroangiopathy. QJM: An International Journal of Medicine, 101(6), 449- 455.
  • Smith, N. C. (2003). Corporate social responsibility: whether or how? California management review, 45(4), 52-76.
  • Takon, S., & Atseye, F. (2015). Effect of WC management on firm profitability in selected Nigerian quoted companies. International Journal of Economics, Commerce and Management, 3(10), 414-438
  • Tinggi, M., Jakpar, S., Chin, T. B., & Shaikh, J. M. (2011). Customers? Confidence and trust towards privacy policy: a conceptual research of hotel revenue management. International Journal of Revenue Management, 5(4), 350-368.
  • Tufail, S., & Khan, J. (2013). Impact of WC management on profitability of textile sector of Pakistan. Paper presented at the Proceedings of 3rd international conference on business management.
  • Van Horne, J., C, & Wachowicz, J., M. (2000). Fundamentals of financial management and PH finance center: Prentice Hall, Lincoln, NE.
  • Vishnani, S., & Shah, B. K. (2007). Impact of WC management policies on corporate performance-An empirical study. Global business review, 8(2), 267-281.
  • Vural, G., Sökmen, A. G., & Çetenak, E. H. (2012). Affects of WC management on firm's performance: evidence from Turkey. International Journal of Economics and Financial Issues, 2(4), 488-495
  • Waweru, C., & Ngugi, K. (2014). Influence of financial management practices on the performance of micro and small enterprises in Kenya. European Journal of Business Management, 1(11), 141-161.
  • Wilner, B. S. (2000). The exploitation of relationships in financial distress: The case of trade credit. The Journal of Finance, 55(1), 153-178.

References

  • Abuzayed, B. (2012). WC management and firms' performance in emerging markets: the case of Jordan. International Journal of managerial finance, 8(2), 155-179.
  • Addae, A. A., & Nyarko-Baasi, M. (2013). WC management and profitability: an empirical Investigation in an Emerging Market. Research Journal of Finance and Accounting, 4(15), 143-152.
  • Afeef, M. (2011). Analyzing the Impact of WC management on the Profitability of SME's in Pakistan. International Journal of Business and Social Science, 2(22), 173-183.
  • Akinlo, O., & Olufisayo, O. (2011). The effect of working capital on profitability of firms in Nigeria: Evidence from general method of moments (GMM). Asian Journal of Business and Management Sciences, 1(2), 130-135.
  • Ali, I., Rehman, K. U., Ali, S. I., Yousaf, J., & Zia, M. (2010). Corporate social responsibility influences, employee commitment and organizational performance. African journal of Business Management, 4(13), 2796-2801.
  • Alzoubi, S., Saleem, E., & Selamat, M. H. (2012). Proposing Conceptual Framework for Reducing Earning Management Using Ownership Structure Mechanism: Jordanian Companies Perspective. Journal of Finance, Accounting & Management, 3(2), 58-78.
  • Appuhami, B. A. R. (2008). The Impact of Firm's Capital Expenditure on WC management: An Empirical Study across Industries in thailand. International Management Review, 4(1), 8-21.
  • Azam, M., & Haider, S. I. (2011). Impact of WC management on firms' performance: evidence from non-financial institutions of KSE-30 index. Interdisciplinary journal of contemporary research in business, 3(5), 481- 492.
  • Bagchi, B., & Khamrui, B. (2012). Relationship between WC management and profitability: A study of selected FMCG companies in India. Business and economics journal.
  • Baños-Caballero, S., García-Teruel, P. J., & Martínez-Solano, P. (2010). WC mangement in SMEs. Accounting & Finance, 50(3), 511- 527.
  • Behrendt, S., Wittchen, H.-U., Höfler, M., Lieb, R., & Beesdo, K. (2009). Transitions from first substance use to substance use disorders in adolescence: is early onset associated with a rapid escalation? Drug and alcohol dependence, 99(1-3), 68-78.
  • Besley, S., & Meyer, R. L. (1987).
  • Bhattacharya, C. B., & Sen, S. (2004). Doing better at doing good: When, why, and how consumers respond to corporate social initiatives. California management review, 47(1), 9-24.
  • Bhattacharya, U., Daouk, H., & Welker, M. (2003). The world price of earnings opacity. The Accounting Review, 78(3), 641-678.
  • Bieniasz, A., & Gołaś, Z. (2011). The influence of WC management on the food industry enterprises profitability. Contemporary Economics, 5(4), 68-81.
  • Bilal, A., Naveed, M., & Taliv, N. (2011). Impact of working capital on profitability of cement sector of Pakistan. Contemporary Research in Business, 3, 661-666.
  • Bricker, J. B., Peterson Jr, A. V., Sarason, I. G., Andersen, M. R., & Rajan, K. B. (2007). Changes in the influence of parents' and close friends' smoking on adolescent smoking transitions. Addictive behaviors, 32(4), 740-757.
  • Charitou, M. S., Elfani, M., & Lois, P. (2010). The effect of WC management on firm's profitability: Empirical evidence from an emerging market. Journal of Business & Economics Research, 8(12), 63-68.
  • Deloof, M., & Jegers, M. (1996).
  • Deloof. (2003).
  • Eda, O., & Mehmet, S. (2009). Relationship between efficiency level of WC management and return on total assets in ISE. International journal of Business and Management, 4(10)
  • Eljelly, A. M. (2004). Liquidity-profitability tradeoff: An empirical investigation in an emerging market. International journal of commerce and management, 14(2), 48-61.
  • Filbeck, G., & Krueger, M. T. (2005).
  • Ganesan, V. (2007). An analysis of WC management efficiency in telecommunication equipment industry. Rivier academic journal, 3(2), 1-10.
  • Gilbert, M. R., Dignam, J. J., Armstrong, T. S., Wefel, J. S., Blumenthal, D. T., Vogelbaum, M. A., . . . Won, M. (2014). A randomized trial of bevacizumab for newly diagnosed glioblastoma. New England Journal of Medicine, 370(8), 699-708.
  • Gill, A., Biger, N., & Mathur, N. (2010). The relationship between WC management and profitability: Evidence from the United States. Business and economics journal, 10(1), 1-9.
  • Gumbochuma, G., Hamandishe, V., Nyahangare, E., Imbayarwo-Chikosi, V., & Ncube, S. (2013). Ethnoveterinary practices for poultry and cattle in Zimbabwe: a case study of Takavarasha village. SJAS, 2(12), 355-359.
  • Haresh, B. (2012). WC management and profitability: Evidence from India-An empirical study. Ganpat University-Faculty of Management Studies Journal of Management and Research, 5, 1-16.
  • Hawawini, G., Viallet, C., & Vora, A. (1986). Industry influence on corporate working capital decisions.
  • Howorth, C., & Westhead, P. (2003). The focus of WC management in UK small firms. Management Accounting Research, 14(2), 94- 111.
  • Hussain, A., Hunjra, A. I., Faisal, F., & Baig, I. A. (2017). A Study on Working Capital Practices across Manufacturing Sector of Pakistan. Journal of Managerial Sciences, 11(03).
  • Hussain-Khaliq, S. (2004). Eliminating child labour from the Sialkot soccer ball industry: Two industry-led approaches. Journal of Corporate Citizenship(13), 101-107
  • Inun Jariya, A. (2013). Management efficiency and profitability.
  • Jayarathne, T. (2014). Impact of WC management on profitability: Evidence from listed companies in Sri Lanka. Paper presented at the Proceedings of the 3rd International Conference on Management and Economics.
  • Juan García-Teruel, P., & Martinez-Solano, P. (2007). Effects of WC mangement on SME profitability. International Journal of managerial finance, 3(2), 164-177.
  • Kaddumi, T. A., & Ramadan, I. Z. (2012). Profitability and WC management: the Jordanian case. International Journal of Economics and Finance, 4(4), 217-226.
  • Karaduman, H. A., Akbas, H. E., Ozsozgun, A., & Durer, S. (2010). Effects of WC management on profitability: the case for selected companies in the Istanbul stock exchange (2005-2008). International Journal of Economics and Finance Studies, 2(2), 47-54.
  • Kim, S. J., & Lee, Y. H. (2012). Recent and Further Researches for Supply Chain Finance. 대한산업공학회 춘계공동학술대회 논문집, 2469-2478.
  • Lazaridis, I., & Tryfonidis, D. (2005).
  • Lazaridis, I., & Tryfonidis, D. (2006). Relationship between WC management and profitability of listed companies in the Athens stock exchange. Journal of financial management and analysis, 19(1).
  • Long, M. S., Malitz, I. B., & Ravid, S. A. (1993). Trade Credit, Quality Guarantees, and Product Marketability. Financial Management, 22(4), 117-127. https://doi.org/10.2307/3665582.
  • Marquardt, J. R., & Marcus, J. M. (2017). Molecular Tools for Understanding Landscape Genetics and the Population Genetic Effects of Habitat Restoration on Butterflies. The Journal of the Lepidopterists' Society, 72(4), 253-265.
  • Mbawuni, J. (2015). Examining Students' Feelings and Perceptions of Accounting Profession in a Developing Country: The Role of Gender and Student Category. International Education Studies, 8(6), 9-23.
  • Miranda, P. G. d. (2013). Guerra e Identidade: um estudo da marcialidade no Heimskringla. Universidade Federal do Rio Grande do Norte.
  • Mohamad, N. E. A. B., & Saad, N. B. M. (2010). WC management: The effect of market valuation and profitability in Malaysia. International journal of Business and Management, 5(11), 140.
  • Moss, J. D., & Stine, B. (1993). Cash Conversion Cycle and Firm Size: A Study of Retail Firms. Managerial Finance, 19(8), 25-34. https://doi.org/10.1108/eb013739.
  • Mujahith, M., & Munas, F. (2016). Study on WC management and profitability on food, beverage and tobacco companies in Sri Lanka.
  • Naser, H. A. (2013). Assessment and management of heavy metal pollution in the marine environment of the Arabian Gulf: a review. Marine pollution bulletin, 72(1), 6-13.
  • Otieno, O. L. (2015). The Relationship between capital structure, performance and replacement of CEO in firms listed on the Nairobi Securities Exchange.
  • Padachi, K. (2006). Trends in WC management and its impact on firms' performance: an analysis of Mauritian small manufacturing firms. International Review of business research papers, 2(2), 45-58.
  • Raheman, A., Afza, T., Qayyum, A., & Bodla, M. A. (2010). WC management and corporate performance of manufacturing sector in Pakistan. International Research Journal of Finance and Economics, 47(1), 156-169.
  • Ramachandran, A., & Janakiraman, M. (2009). The Relationship Between WC management Efficiency and EBIT. Managing Global Transmissions, 7(1), 61-74.
  • Samiloglu, F., & Demirgunes, K. (2008). The effect of WC management on firm profitability: Evidence from Turkey. The International journal of applied Economics and Finance, 2(1), 44-50.
  • Sandeep bhattacharya, u. p. (2002). improvement in oxidative status with yogic breathing in young healthy males sandeep bhattacharya', us pandey and ns verma. indian j physio! pharmacal, 46(3), 349-354.
  • Shin, H. H., & Soenen, L. (1998).
  • Singhania, N., Puri, D., Madhu, S., & Sharma, S. (2008). Assessment of oxidative stress and endothelial dysfunction in Asian Indians with type 2 diabetes mellitus with and without macroangiopathy. QJM: An International Journal of Medicine, 101(6), 449- 455.
  • Smith, N. C. (2003). Corporate social responsibility: whether or how? California management review, 45(4), 52-76.
  • Takon, S., & Atseye, F. (2015). Effect of WC management on firm profitability in selected Nigerian quoted companies. International Journal of Economics, Commerce and Management, 3(10), 414-438
  • Tinggi, M., Jakpar, S., Chin, T. B., & Shaikh, J. M. (2011). Customers? Confidence and trust towards privacy policy: a conceptual research of hotel revenue management. International Journal of Revenue Management, 5(4), 350-368.
  • Tufail, S., & Khan, J. (2013). Impact of WC management on profitability of textile sector of Pakistan. Paper presented at the Proceedings of 3rd international conference on business management.
  • Van Horne, J., C, & Wachowicz, J., M. (2000). Fundamentals of financial management and PH finance center: Prentice Hall, Lincoln, NE.
  • Vishnani, S., & Shah, B. K. (2007). Impact of WC management policies on corporate performance-An empirical study. Global business review, 8(2), 267-281.
  • Vural, G., Sökmen, A. G., & Çetenak, E. H. (2012). Affects of WC management on firm's performance: evidence from Turkey. International Journal of Economics and Financial Issues, 2(4), 488-495
  • Waweru, C., & Ngugi, K. (2014). Influence of financial management practices on the performance of micro and small enterprises in Kenya. European Journal of Business Management, 1(11), 141-161.
  • Wilner, B. S. (2000). The exploitation of relationships in financial distress: The case of trade credit. The Journal of Finance, 55(1), 153-178.

Cite this article

APA

    APA : Khan, Y., Hussain, S., & Israr, M. (2021). The trend in WC Management and its Impact on Firms Performance: A Case of PSX-100 Index. Global Management Sciences Review, VI(III), 54-70. https://doi.org/10.31703/gmsr.2021(VI-III).04

CHICAGO

    CHICAGO : Khan, Yousaf, Shah Hussain, and Muhammad Israr. 2021. "The trend in WC Management and its Impact on Firms Performance: A Case of PSX-100 Index." Global Management Sciences Review, VI (III): 54-70 doi: 10.31703/gmsr.2021(VI-III).04

HARVARD

    HARVARD : KHAN, Y., HUSSAIN, S. & ISRAR, M. 2021. The trend in WC Management and its Impact on Firms Performance: A Case of PSX-100 Index. Global Management Sciences Review, VI, 54-70.

MHRA

    MHRA : Khan, Yousaf, Shah Hussain, and Muhammad Israr. 2021. "The trend in WC Management and its Impact on Firms Performance: A Case of PSX-100 Index." Global Management Sciences Review, VI: 54-70

MLA

    MLA : Khan, Yousaf, Shah Hussain, and Muhammad Israr. "The trend in WC Management and its Impact on Firms Performance: A Case of PSX-100 Index." Global Management Sciences Review, VI.III (2021): 54-70 Print.

OXFORD

    OXFORD : Khan, Yousaf, Hussain, Shah, and Israr, Muhammad (2021), "The trend in WC Management and its Impact on Firms Performance: A Case of PSX-100 Index", Global Management Sciences Review, VI (III), 54-70

TURABIAN

    TURABIAN : Khan, Yousaf, Shah Hussain, and Muhammad Israr. "The trend in WC Management and its Impact on Firms Performance: A Case of PSX-100 Index." Global Management Sciences Review VI, no. III (2021): 54-70. https://doi.org/10.31703/gmsr.2021(VI-III).04