This paper examines the influence of cash flow on the relationship between net working capital and firm performance. The paper employs unbalanced panel data regression analysis on a sample of 6,926 non-financial small and medium enterprises in the United Kingdom for the period from 2004 to...

This paper aims to report the results of an investigation of the relationship between working capital level, measured by the cash conversion cycle and profitability of Small and Medium Enterprises (SMEs). The paper employs panel data regression analysis on a sample of 160 Alternative Investment...

This paper reports the results of an investigation of the effect of Working Capital Management (WCM) practices on profitability of Small and Medium Enterprises (SMEs) listed on the Alternative Investment Market (AIM), from the perspective of financial directors. Specifically, I look at their WCM...

This paper reports the results of an investigation of the effect of Working Capital Management (WCM) on the performance of listed Small and Medium Enterprises (SMEs). The study also examines whether the effect of WCM on performance differs between ‘small' and ‘medium' firms. The paper...

We examine the value effect of working capital management (WCM) for a large sample of US firms between 1982-2011. Our results indicate (i) the existence of an optimal level of working capital policy; and (ii) firms that converge to that optimal level (either by increasing or decreasing their...

This study aims to investigate the effects of financial bootstrapping and government support on working capital, as well as the moderating role of entrepreneurial orientation towards the impact of working capital on financial performance. The study was conducted on 260 MSME owners in the food...

Purpose – This paper reports the results of an investigation of the relative importance of working capital management, measured by the cash conversion cycle (CCC), and its components (inventory, accounts receivable and accounts payable) to the profitability of SMEs. Design/methodology/approach...

This article aims to investigate the relationship between working capital management and firm performance in an emerging market. The analysis is done over a long window spanning across 2000–2014 by using ordinary least square (OLS), fixed- and random-effects model and generalized method of...

Working capital management (WCM) plays a significant role in company's operations. The aim of this research is to explain how working capital management affects profitability of Serbian companies measured by ROA indicator. In order to answer the question, a quantitative analysis of working...

The traditional link between the cash conversion cycle and the firm's profitability is that shortening the cash conversion cycle increases firm's profitability. On the other hand shortening the cash conversion cycle could harm the firm's operations and reduces profitability. However, identifying...