- DOI: 10.1108/QRFM-04-2013-0010
- Corpus ID: 153713912
Working capital management: a literature review and research agenda
- H. Singh , Satish Kumar
- Published 29 August 2014
- Business, Economics
- Qualitative Research in Financial Markets
95 Citations
A systematic literature review on working capital management – an identification of new avenues, the effect of working capital management on the profitability of small and medium enterprises: meta-analysis, thematic literature review of working capital management in the construction industry: trends and research opportunities, review of literature on working capital management and future research agenda.
- Highly Influenced
Conceptual review study of working capital management practices in the construction industry: trends and research prospects in Ghana
Empirical studies on the performance of banks: a systemic literature review for future research, working capital management practices in india: survey evidence, a systematic literature review on sme financing: trends and future directions, economic downturns and working capital management practices: a qualitative enquiry, working capital management and corporate performance: evidence from indonesia, 93 references, effects of working capital management on sme profitability, working capital requirements and the determining factors in pakistan, working capital management efficiency of cement sector of pakistan, working capital management and firms’ performance in emerging markets: the case of jordan, working capital management and corporate profitability: evidence from iran, effective working capital management and profitability: a study of selected quoted manufacturing companies in nigeria, influence of working capital management on profitability: a study on indian fmcg companies, factors that influence working capital requirements in canada, working capital management: the effect of market valuation and profitability in malaysia, state of the art of short-run financial management, related papers.
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Qualitative Research in Financial Markets
ISSN : 1755-4179
Article publication date: 29 July 2014
The purpose of this paper is to review research on working capital management (WCM) and to identify gaps in the current body of knowledge, which justify future research directions. WCM has attracted serious research attention in the recent past, especially after the financial crisis of 2008.
Design/methodology/approach
Using systematic literature review (SLR) method, the present study reviews 126 articles from referred journal and international conferences published on WCM.
Detailed content analysis reveals that most of the research work is empirical and focuses mainly on two aspects, impact of working capital on profitability of firm and working capital practices. Major research work has concluded that WCM is essential for corporate profitability. The major issues with prior literature are lack of survey-based approach and lack of systematic theory development study, which opens all new areas for future research. The future research directions proposed in this paper may help develop a greater understanding of determinants and practices of WCM.
Practical implications
Till date, literature on classification of WCM has been almost non-existent. This paper reviews a large number of articles on WCM and provides a classification scheme in to various categories. Subsequently, various emerging trends in the field of WCM are identified to help researchers specifying gaps in the literature and direct research efforts.
Originality/value
This paper contains a comprehensive listing of publications on the WCM and their classification according to various attributes. The paper will be useful to researchers, finance professionals and others concerned with WCM to understand the importance of WCM. To the best of the authors’ knowledge, no detailed SLR on this topic has previously been published in academic journals.
- Literature review
- Survey methods
- Operating cycle
- Working capital management
Pratap Singh, H. and Kumar, S. (2014), "Working capital management: a literature review and research agenda", Qualitative Research in Financial Markets , Vol. 6 No. 2, pp. 173-197. https://doi.org/10.1108/QRFM-04-2013-0010
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WORKING CAPITAL MANAGEMENT
2020, Social Science Research Network
This paper provides contextual explanations on the related aspects of Working Capital (WC) management. The objective of the paper is to illustrate related variables and cash management models in the WC management, especially from an accounting learning point of view. Initially, WC has been defined; and subsequently, WC policy and determination, some useful related ratios, liquidity management in relation to operating cycle and cash conversion cycle of a business, and optimal cash balance and cash management models are explained. All these contextual explanations are supported with some specific examples as exhibits at the end of this paper, especially with the determination of the WC requirement on a cash-cost basis as an operational approach. Further, the use of simple economic order quantity (EOQ) model for determining the required outflow of cash to buy initial production material in a continuous production process has also been explained.
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Working capital management and corporate performance: evidence from a study of Indian firms
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IMAGES
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COMMENTS
PDF | This paper provides contextual explanations on the related aspects of Working Capital (WC) management. The objective of the paper is to illustrate... | Find, read and cite all the research ...
An analysis of working capital and working capital management (WCM) is the purpose of this study. This study analyzes the research published between 1960 and 2021 using the systematic literature ...
The excessive working capital creates an idle fund and an insufficient working capital interrupts the day-to-day operation of the business. For this purpose, it becomes much essential to investigate the certain impact of working capital on firm performance.
Purpose This paper aims to provide a review of the existing literature available on working capital (WC) and working capital management (WCM).
Working capital management is a critical aspect of financial management that is pivotal in determining a firm's overall performance and sustainability. It entails managing payables and receivables and reducing inventory. The working capital cycle encompasses the conversion of raw materials into finished goods, the sale of goods, and the subsequent collection of receivables, known as the cash ...
Working-capital management involves both choosing the amount to invest and man- aging the cash-conversion cycle (the time that it takes to convert working capital into cash) [10-12]. Working-capital turnover is related to the operating cycle (OC) and the cash-conversion cycle (CCC).
Purpose - - The purpose of this paper is to review research on working capital management (WCM) and to identify gaps in the current body of knowledge, which justify future research directions. WCM has attracted serious research attention in the recent past, especially after the financial crisis of 2008. Design/methodology/approach - - Using systematic literature review (SLR) method, the ...
The present study investigates the relationship between working capital management and SME profitability. It also analyzes the impact of macroeconomic impulses on firm profitability through efficient management of working capital in the case of Indian small and medium scale enterprises over the time period spanning from 2010 to 2017 using Feasible Generalized Least Square (FGLS) regression ...
Abstract:Working Capital Management has lately been a hot topic since the financial turmoil of the late 2000's. Companies search for liquidity and operational efficiency through minimizing their investment in working capital. However, can working capital management add to corporate profitability and shareholder value? This has been studied in this thesis. The efficiency of working capital ...
To assess the working capital management and profitability relationship, the authors applied a multiple regression analysis methodology in all manufacturing companies listed on the Qatar Stock Exchange (ten firms) between 2015 and 2019.
Padachi, K., 2006, "Trends in Working Capital Management and its Impact on Firms' Performance: An Analysis of Mauritian Small Manufacturing Firms", International Review of Business Research Papers, Vo.2 No. 2.
PDF | On Mar 1, 2021, Kabir Yazid and others published Working Capital Management and Business Performance | Find, read and cite all the research you need on ResearchGate
Working capital management is one of the most important decisions that affect an organisation's financial performance. Despite the importance of this topic, the empirical evidence for emerging economies is scarce; therefore, this research attempts to estimate and compare how investment in working capital impacts the financial performance of companies listed on the stock exchanges in Chile ...
The research papers were selected randomly according to more than 50 citations from reputable journals. The review study concluded that working capital management affects profitability and also signifies the importance of working capital management through significant relationships.
The recent covid 19 has increased the challenges for worldwide businesses to manage working capital. Compared to the studies on the financial crisis of 2008, management of working capital and firm ...
The purpose of this paper is to review research on working capital management (WCM) and to identify gaps in the current body of knowledge, which justify future research directions. WCM has attracted serious research attention in the recent past, especially after the financial crisis of 2008.
This paper provides contextual explanations on the related aspects of Working Capital (WC) management. The objective of the paper is to illustrate related variables and cash management models in the WC management, especially from an accounting learning point of view. Initially, WC has been defined; and subsequently, WC policy and determination ...
This study contributes to the existing empirical literature on the relationship between working capital management and the financial performance of firms, specifically those engaged in the trade of fast moving consumer goods, using data drawn from listed food and beverages in South Africa specifically, as the working capital management policies ...
Abstract. Abstract Purpose - The purpose of this paper is to review research on working capital management (WCM) and to identify gaps in the current body of knowledge, which justify future ...
Working capital management is of crucial importance in corporate financial management decision. The optimal of working capital management could be achieved by company that manages the tradeoff between profitability and working capital management (Bhunia & Das 2012).
Working capital management is always crucial in any business. Efficiency of working capital is determined based various tools used by the companies. However in practice, companies do follow different tools to reduce working capital which is directly impacting profitability of the company. Whether to adopt aggressive policy or lenient policy is exclusively depends on the company and it is vary ...
C Bank, one of the leading private sector banks in India. The study delves into various aspects of HDFC Bank's working capital management, including current asset management, current liability management, and working capital ratios. The research methodology involves data collection from the bank's annual reports and secondary sources, followed by data analysis using statistical tools. The ...
PDF | Working capital is the firm's circulating funds required for meeting day-to-day operations. Effective management of working capital is therefore... | Find, read and cite all the research you ...
International co-operation on science, technology and innovation pushes the knowledge frontier and accelerates progress towards tackling shared global challenges like climate change and biodiversity loss. The OECD provides data and evidence-based analysis on supporting research and innovation and fostering policies that promote responsible innovation and technology governance for resilient and ...