Literature review of working capital management

Capital management a literature review and researchuploaded by rajender564related interestsworking capitalcitationabstract (summary)businesseconomiesrating and stats0. 0)document actionsdownloadshare or embed documentembeddescription: rajview morerajcopyright: © all rights reserveddownload as pdf, txt or read online from scribdflag for inappropriate contentqualitative research in financial marketsworking capital management: a literature review and research pratap singh satish aded by guru jambheshwar university at 02:00 25 may 2016 (pt). Cite this document:Harsh pratap singh satish kumar , (2014),"working capital management: a literature review and ", qualitative research in financial markets, vol. Who downloaded this article also downloaded:(2005),"an analysis of working capital management results across industries", american journal of. 2013),"the relative importance of working capital management and its components to smes' profitability",Access to this document was granted through an emerald subscription provided by emerald-srm:487597 []. Related content and download information correct at time of current issue and full text archive of this journal is available g capital management:A literature review pratap singh and satish aded by guru jambheshwar university at 02:00 25 may 2016 (pt). Of management studies,Malaviya national institute of technology, jaipur, ed 5 april e – the purpose of this paper is to review research on working capital management (wcm) identify gaps in the current body of knowledge, which justify future research directions. Wcm ted serious research attention in the recent past, especially after the financial crisis of /methodology/approach – using systematic literature review (slr) method, the reviews 126 articles from referred journal and international conferences published on gs – detailed content analysis reveals that most of the research work is empirical and on two aspects, impact of working capital on profitability of firm and working capital research work has concluded that wcm is essential for corporate profitability. The major prior literature are lack of survey-based approach and lack of systematic theory , which opens all new areas for future research. The future research directions proposed in may help develop a greater understanding of determinants and practices of cal implications – till date, literature on classification of wcm has been almost paper reviews a large number of articles on wcm and provides a classification scheme in s categories.

Literature review on working capital management

Subsequently, various emerging trends in the field of wcm are identified to chers specifying gaps in the literature and direct research ality/value – this paper contains a comprehensive listing of publications on the wcm classification according to various attributes. To the best of s’ knowledge, no detailed slr on this topic has previously been published in academic ds literature review, survey methods, operating cycle, working capital type literature the last 40 years, major theoretical developments have occurred in the areas -term investment and financial decision-making. St, far less attention has been paid to the area of short-term finance, in of working capital management (wcm). Such neglect might be acceptable working capital considerations of relatively little importance to the firm. This may occur for several other reasons, first, because decisions working capital occur frequently, and they are routine in nature. Concept of is primarily related with all management decisions that influence the size iveness of the working capital (kaur. The amount invested g capital is often high in proportion to the total assets employed. Many research studies like chers were curious about a literature review of the topic which gave basis paper. Working capital may be regarded balance between current assets and current liabilities (pass and pike. The management of working capital ant to the financial health of small and big businesses.

Debtors (unpaid bills for which the profit has already been realized in t assets include:• stock or inventory (raw materials ⫹ work-in-progress ⫹ finished goods g capital requirements are linked to the processes of earning and spending ( pike 1987). The adapted review process fying the issues and future avenues in wcm research is categorized in ⫽ number of days inventories ⫹ number of days accounts receivable. We have used ture review (slr) methodology in this identification and article ption and classification of ed content and citation analysis of ing of findings and research e which satisfied all listed delimiting conditions was included in the sample r screening. We have conducted a search for published journal articles on wcm databases to cover a comprehensive and diverse range of articles for review. A huge amount of literature was found by ence between purchase of raw materials and getting finished goods paid. The following databases: (2005) advocated that ture review must be comprehensive in its scope of including all al. 34 additional articles were found relevant to the study included in the final sample of 126 articles for review. It is done to understand the trends and issues in the literature relevant to wcm. Illustrates a wide range of experiences from the literature 4 articles published on wcm during g aded by guru jambheshwar university at 02:00 25 may 2016 (pt). A little number of articles report on gs which indicate lack of systematic literature to compare findings across ts and cultures.

Setting and daily management of working capital accounts of australian more centralized than that of us firms. Ial practice and business finance journal of business icfai university journal of financial isplinary journal of contemporary research ational research journal of finance ational journal of applied economics ational journal of business and ational journal of economics and ational journal of economics and ational journal of economics and ational journal of managerial ational management ational research journal of finance ational review of business research ational symposium on finance and l of african l of applied finance & l of business & economics l of business l of economics and behavioral l of economics and l of financial and strategic aded by guru jambheshwar university at 02:00 25 may 2016 (pt). Of business finance & -american journal of rranean journal of social ch journal of business academic ting and n journal of business s universitatis apulensis series journal of review of ss and economics ics and finance an financial an journal of economics. Of financial management and l of global business and l of modern accounting and l of multinational financial l of purchasing & supply ment accounting ng global ch journal of business a de administracao de icfai journal of applied icfai journal of management international journal of iup journal of applied iup journal of management journal of american academy of lahore journal of applied sciences and cheng (2006). The research has also highlighted the importance king and bootstrapping finance as a solution to the working capital financing . The wcm practices are also related to the industry ent industries follow different working capital requirements (nazir and afza. 2008) analyzed the determinants by using net liquid balance and working capital requirements as measures of ted the argument of deloof (2003) about cycle time of account payable ability. 2009b) established a relationship between the working ement and different internal and external determining factors of pakistani firms regression analysis. Except raheman et ch study by weinraub and visscher (1998) examined ten diverse industry establish the relative relationship between aggressive and conservative working s that firms with better access to the capital markets maintain a more g capital policy because of their lower costs for financing. This leaves an opportunity for developing systematic theory by adding future (1991) used comprehensive survey for comparing working capital practices the impact of institutional difference on the same across the usa and australia.

Findings from literature on the analysis of retrieved (2011) evaluated and proposed an appropriate wcm policy for smes in . Dominance of empirical review shows that the majority of research articles are based on secondary data empirical in nature. Closer examination of literature on wcm revels that few articles on than discussed above were also found. Howorth and westhead (2003) used the survey approach to identify the ces of managing working capital in different economic setting. Only belt and smith (1991) attempt to compare working capital practices of the usa and australia. This could be caused by recent down which boost the importance g capital attention of researchers is directed ng the relation between wcm most common research method is es performed with correlation and. A topic that has been studied a has been studied about working research methods and data have are the most important articles about aded by guru jambheshwar university at 02:00 25 may 2016 (pt). Literature on wcm has concluded that profitability can increase by reducing the amount invested in working capital. Primary aim of this review was to identify and analyze the main characteristics literature to contribute more in-depth understanding of the research domain. 2012) in their study explained that these studies ignored risk of loss of sales and interruptions in the production process that d with low levels of working uently.

Future research can also be directed toward the establishment of es for managing working capital by using multiple case study methods. The impact of firms’ capital expenditure on working ment: an empirical study across industries in thailand”. Ng research literature focus on various determinants of wcm but left oral aspect and biases of corporate treasures in managing working capital. Most of the researchers like deloof (2003) have analyzed a linear relation ’s investments in working capital and advocate that firm’s profitability can sed by lowering the investment in working capital. The effect of the adoption of emerging electronic payments options ing working capital management and profitability of firms in india”. There might be a l level at which a reduction in working capital negatively affects a firm’ability. Future research can contribute literature by analyzing the quadratic relationship between investment g capital and profitability by taking into account the possible the wcm. Working capital and profitability: an empirical analysis of onship with reference to selected companies in the indian pharmaceutical industry”. Working capital management and corporate profitability:Evidence from panel data analysis of selected quoted companies in nigeria”. Trends in working capital management and its impact on firm’s performance:An analysis of mauritian small manufacturing firms”.

The influence of working capital management components on ability: a survey on kenyan listed firms”. Studying the relationship between l management and profitability at tehran stock exchange: a case study of food. Effective working capital management and profitability:A study of selected quoted manufacturing companies in nigeria”. Working capital management and the profitability of the manufacturing sector: study of pakistan’s textile industry”. The impact of working capital management policies on firm’s value: the case of jordan”. Analysis the relationship between working capital policy and : an empirical study on jordanian industrial companies”. Impact of working capital management on firms’ performance:Evidence from non-financial institutions of kse-30 index”. The assessment of the effect of working ment on the profitability of pharmaceutical companies of tehran stock exchange”. Analyzing effects of working capital component ability and valuation at manufacturing firm in ise for 2000-2009 period”. The effect of working capital management on firm’ability: empirical evidence from an emerging market”.

Determinants of working capital: an empirical inquest with reference to ed public sector companies in india”. The relationship between working ment and firm’s profitability: an empirical investigation for an emerging y”. Effects of working ment on profitability: the case for selected companies in the istanbul ge”. The impact of l management upon companies’ profitability: evidence from n journal of business management. Effect of l management practices on financial performance: a study of small scale kisii south district. Evaluating relationship of working capital and profitability:A study of select multinational companies in the indian pharmaceutical sector”. The impact of working ment policies on firm’s profitability and value: evidence from iranian companies”. Working capital management and its affect on firm’s profitability ity: in other food sector of (kse) karachi stock exchange”. The relationship between working ment and profitability: a case study of cement industry in pakistan”. An investigation of the effect of aggressive working que on the performance of manufacturing firms in nigeria”.

Watch the working capital of tier-two suppliers: a ctive of supply chain collaboration in the automotive industry. Ended documentsdocuments similar to 123working capital management a literature review and researchskip carouselcarousel previouscarousel nextchapter-01 an overview of corporate finance notesfinancial management for non-financil professionalsworkig capital managementwcm module 1ujjwal resumebest practice f&anikunj 1 progress nancial managementanalyse the working capital of agi glaspacslm unit 11 mbf201concept of working capitalworking capital management final projectworking capital managementamj final cover letter s15w. Reportbasit presentationa2-secondary research & inquiry-3vincent rivera peer review to write a term paper (with example papers)how to write a research paperfull document for tamilarasanch. 11 report planning & researchpart 1 - the research processanalyzing your financial ratioswcip manual 01cover letter school documents about working capitalskip carouselcarousel previouscarousel nextherbert a. 1972)funds management by banks in indiapacific-power--r-bryce-dalley31381_1980-1984rocky-mountain-power--15-steven-r-mcdougalacca f9 notes j15financial & marketing managementfrsbog_mim_v41_19341005_31104_1975-197961275_1950-1954guam-power-authority-residential-servicealabama-tennessee natural gas co. Dialogthis title now requires a credituse one of your book credits to continue reading from where you left off, or restart the t previewloading. Dialogthis title now requires a credituse one of your book credits to continue reading from where you left off, or restart the t vak working capital niversiteit opleidingen per g capital ie en g capital g capital completion of the course the student is able to:1. Interpret, discuss, and critically reflect upon advanced scientific articles in the field of working capital management and control 2. Conduct scientific research on working capital management, based on an empirical study and literature review. Write a paper on working capital management (based on scientific research), present the paper and discuss the findings and limitations of your g capital management studies in particular the several interrelationships that exist between working capital and the operations that take place in a firm and how an organisation is able to control these.

The co-ordinated management and control of the working capital operations within a firm encompass decisions concerning cash holdings, purchase processes, production and inventory process and sales. The course will develop an understanding of the specific way in which these operating processes interact with the working capital management and control of a firm. During the course we will be studying the organizational aspects of the working capital functions, the relations with other departments within the firm and the control cycle of forecasting, planning, monitoring and evaluating working capital. The focus of working capital management and control will be directed both internally (control, optimisation, value measurement) and externally (backward and forward linkages of the firm). Special topics include amongst others the focus of working capital in small firms, a comparative study of working capital in government, transition and privatised firms, cash management in the euro zone, the determinants of cash holdings, the relation between product quality and payment policy, governance costs and the allocation of inventories. Ed academic articles from journals such as journal of financial economics, management accounting research, the journal of finance, review of quantatative finance and course consists of a series of lectures and seminars in which active participation will be asked from students. In addition students will write a paper on a specific theoretical issue concerning working capital management and control based on scientific, reviewed articles. The cases will encompass calculations as well as dilemmas, conflicts and decisions which organisations face in dealing with the relationships and interactions between working capital and the several operations of an organisation. Students will be working both individually and in ary: jessica bakker, tel: +31 (0)50 363 3535, e-mail: @s open to exchange students (msc). Vak working capital niversiteit opleidingen per g capital ie en g capital g capital completion of the course the student is able to:1.