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Optimizing Working Capital Management And Its Impact On Profitability A Study Of Retail Enterprises Listed On The Stock Exchange In Vietnam
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Book Synopsis Optimizing Working Capital Management and Its Impact on Profitability: A Study of Retail Enterprises Listed on the Stock Exchange in Vietnam by : Linh Hoang
Download or read book Optimizing Working Capital Management and Its Impact on Profitability: A Study of Retail Enterprises Listed on the Stock Exchange in Vietnam written by Linh Hoang and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Working capital management (WCM) is crucial to corporations’ profitability,particularly in developing economies like Vietnam, where long-term capital markets are not well established. This study investigates the link between WCM and the profitability of retail enterprises in Vietnam. The research formulates four hypotheses and adopts a quantitative approach to examine these hypotheses. WCM is assessed through key indicators, including the Cash Conversion Cycle (CCC), Days in Inventory (INV), Days Sales Outstanding (DSO), and Days Payables Outstanding (DPO). The Return on Assets(ROA) and Return on Equity (ROE) metrics measure profitability. The study employs descriptive analysis, correlation analysis, and pooled regression analysis to explore the assumptions based on data collected from 39 retail corporations listed on the Vietnam Stock Exchange. The findings of this thesis reveal that effective WCM is significantly associated with profitability, as demonstrated by CCC, INV, DSO, and DPO. Therefore,the study recommends that managers maintain appropriate limits for Company size(SIZE), Sales growth (SGROWTH), and Current ratio (CR) to optimize the financial performance of retail enterprises in Vietnam. By shedding light on the relationship between WCM and profitability, this thesis contributes to the existing literature on the subject and offers valuable insights for retail enterprises in Vietnam to improve their financial performance.
Book Synopsis Working Capital Management and Profitability: A Study of Cement Companies Listed on the Pakistan Stock Exchange by : Bilal Ahmed
Download or read book Working Capital Management and Profitability: A Study of Cement Companies Listed on the Pakistan Stock Exchange written by Bilal Ahmed and published by . This book was released on 2020 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: In dieser Studie wurde die Auswirkung des Working Capital Managements auf die Unternehmensrentabilität anhand von Panel-Daten für eine Stichprobe von 17 an der pakistanischen Börse notierten Zementunternehmen für den Zeitraum von 2014 bis 2018 untersucht. Ziel der Studie war es, die einzelnen Komponenten des Working Capital Managements zu untersuchen und zu bewerten die Bedeutung der Auswirkungen des Working Capital Managements. Zu diesem Zweck wurde die Verwaltung der Vorräte, Forderungen und Verbindlichkeiten zusammen mit dem Bargeldumrechnungszyklus untersucht. Die Untersuchung verwendete sekundäre Ressourcen wie das Datenportal der pakistanischen Börse und Einzelabschlüsse von Unternehmen, um die für die Analyse erforderlichen Informationen zu sammeln. Panel-Datenmethoden wurden verwendet, um die Ergebnisse zu melden, die das Fixed-Effects-Modell, das Random-Effects-Modell und auch die gepoolten gewöhnlichen Least-Squared-Modelle umfassten. Die Studie stellt einen signifikanten negativen Zusammenhang zwischen den Komponenten des Working Capital Managements und der Rentabilität fest. In Bezug auf die *****This study investigated the effect of working capital management on corporate profitability using panel data for a sample of 17 cement companies listed on the Pakistan stock exchange for a period of 2014 to 2018. The study aimed to examine the individual components of working capital management to assess the significance of the impact of working capital management. To achieve this purpose the management of inventory, receivables and payables were examined together with the cash conversion cycle. The research used secondary resources such as the data portal of Pakistan stock exchange and individual company financial statements to collect information necessary for the analysis. Panel data methods were employed to report the results which included the Fixed effects model, random effects model and also the pooled ordinary least squared models. The study finds signif
Book Synopsis Relationship Between Working Capital Management and Profitability in Retail Sector Companies Listed on the Johannesburg Stock Exchange by : Innocent Gumbochuma
Download or read book Relationship Between Working Capital Management and Profitability in Retail Sector Companies Listed on the Johannesburg Stock Exchange written by Innocent Gumbochuma and published by . This book was released on 2014 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: Working capital management is an extremely important area of financial management as current assets normally represent more than half of the total assets of a business. Literature has shown that efficient management of working capital will lead to more profitability and creating more market value. This study sought to ascertain the impact of the working capital management on firm profitability in the retail sector of the South African Johannesburg Stock Exchange listed companies.
Book Synopsis Working Capital Management and Profitability by : Waseem Ullah Jan
Download or read book Working Capital Management and Profitability written by Waseem Ullah Jan and published by LAP Lambert Academic Publishing. This book was released on 2014-07-02 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: The working capital management plays an important role for success or failure of firm in business because of its effect on firm's profitability as well on liquidity. The working capital management refers to the management of working capital, or precisely to the management of current assets. A firm's working capital consists of its investments in current assets, which includes short-term assets-cash and, inventories, receivable and marketable securities. Therefore, the working capital management refers to the management of the levels of all these individual current assets. The universe of the study is textile industry of Pakistan, which is one of the oldest and the fast developing industry in the large scale sector of Pakistan. The study is based on secondary data collected from listed firms in Karachi stock exchange for the period of 2001-2006 with an attempt to investigate the relationship existing between profitability, and working capital management components for listed firms in Karachi stock exchange. The reason for restricting to this particular time period is that the latest and updated data for investigation is available for this period.
Book Synopsis The Impact of Working Capital Management on the Profitability of a Manufacturing Company by : Jones Jalis
Download or read book The Impact of Working Capital Management on the Profitability of a Manufacturing Company written by Jones Jalis and published by . This book was released on 2021-01-21 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Impact of Working Capital Management Upon Companies' Profitability by :
Download or read book Impact of Working Capital Management Upon Companies' Profitability written by and published by . This book was released on 2014 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Relationship Between Working Capital Management and Profitability by : Nasser Alsulayhim
Download or read book The Relationship Between Working Capital Management and Profitability written by Nasser Alsulayhim and published by . This book was released on 2019 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Working capital management is an important concept that could influence companies in many ways. An efficient management of working capital can help a company to manage its finances and increases its profitability. This study investigates the relationship between working capital management and profitability in non-financial companies listed in the Saudi Stock Exchange. A sample of 67 companies is used for a period of ten years (2007-2016). Quantitative method using multiple linear regression and pooled data set is used for analysis. The results indicate a positive relationship between working capital management and profitability. However, each company could have a different optimal level of working capital and could require different strategies to increase profitability. This study is limited to non-financial companies listed in the Saudi Stock Exchange. This study is a positive contribution to working capital management literature as it uses a relatively large sample, a longer time period, and multiple profitability proxies in the context of Saudi Arabia which has few researches in this area.
Book Synopsis Managing Working Capital; it depends upon the type of retail business? by : Geraldine Grosch
Download or read book Managing Working Capital; it depends upon the type of retail business? written by Geraldine Grosch and published by GRIN Verlag. This book was released on 2009-03-17 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2009 in the subject Business economics - Trade and Distribution, grade: 1,1, University of Southampton (Southampton Solent University), language: English, abstract: This assignment aims to identify whether the effect of working capital is variable for different types of retail businesses. Therefore, working capital management, the term itself and its elements is illustrated first, followed by the examination of the concrete examples of the UK retailing industry to show differences in distinct retail types. Finally, to demonstrate the understanding of this topic, an effective approach for managing working capital for a carpet retailer will be formulated.
Book Synopsis Determinants of Working Capital Management by : Elena Archavli
Download or read book Determinants of Working Capital Management written by Elena Archavli and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose - The purpose of this paper is to provide empirical evidence for the effective management of working capital and for its impact on the performance of Greek listed companies in terms of profitability, performance and market valuation. Design/Methodology/approach -This research approach is based on the examination of 211 listed on the Athens Stock Exchange firms for a period of six years from 2005 to 2010. This research intents to investigate the effects of the working capital management factors for Greek enterprises' yields through the examination of profitability (gross operating profit), the performance (return on assets) and the market value of the firm (Tobin Q). Findings -The results of our research showed that there are significant negative correlations between the variables of working capital and the business performance. Thus, we must highlight the importance of managing working capital to ensure improved profitability, efficiency and market value of companies, as this aspect should be part of strategic and operational thinking of Greek enterprises, in order to operate effectively and efficiently. Research Limitations/implications -The main limitation of this research is that examining a sample of listed firms does not allow for generalization of conclusions for all listed firms. Originality/value - This paper provides new evidence for the effects of the determinants of working capital on the efficiency, profitability and market value of listed firms.
Book Synopsis Impact of Working Capital Management on Firm's Profitability by : Nguyen Bui Thi Ha Thanh
Download or read book Impact of Working Capital Management on Firm's Profitability written by Nguyen Bui Thi Ha Thanh and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Working Capital Management on Corporate Profitability by : Elangkumaran Periyathampy
Download or read book The Impact of Working Capital Management on Corporate Profitability written by Elangkumaran Periyathampy and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Efficient management of working capital ensures a company has sufficient cash flow to meet its short-term debt obligations and operating expenses. The study analysis WCM and corporate profitability of listed manufacturing companies of the CSE in Sri Lanka. A sample of twenty-two listed manufacturing companies selected randomly for the purpose of this study. Data collected from annual reports of the sampled firms for the period 2009-2015. The working capital was determine by the cash conversion cycle and the profitability was measured by return on assets. The study applied panel data models (random effects). The data were analyzed by means of descriptive statistics and GLS random regression analysis using STATA 12. The study finds that there is a significant negative impact of inventory turnover on corporate profitability while debtors turnover insignificant positive affect corporate profitability. In addition, creditors' turnover has significant positive impact on corporate profitability. The results conclude that WCM impact of profitability of listed manufacturing companies in Sri Lanka.
Book Synopsis The Impact of Working Capital Management on the Profitability of Financial Listed Firms in Palestine by : Hasan Abdul-Hadi
Download or read book The Impact of Working Capital Management on the Profitability of Financial Listed Firms in Palestine written by Hasan Abdul-Hadi and published by . This book was released on 2018 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The working capital management plays an important role for success or failure of firm in business because of its effect on firm's profitability. This study aims at providing an idea about the directional effect of working capital management on profitability of financial listed firms in Palestine. The contemplated research will analyze Palestinian listed companies with respect to the optimal mix of their working capital structure as it relates to profitability. This is presently considered an understudied area and will have positive benefit for both professionals and academics. The contemplated research will provide a basis for further research and examination of the domain of working capital structure. Firm Size and firm Growth has a positive impact on the firm's profitability. It is important to focus on the nexus of working capital structure theory, managerial decision-making theory and managerial communication theory to have effective working capital management framework.
Book Synopsis Working Capital Management and Its Impact on Financial Performance by : Rathiranee Yogendrarajah
Download or read book Working Capital Management and Its Impact on Financial Performance written by Rathiranee Yogendrarajah and published by . This book was released on 2014 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Working capital management ensures a company has sufficient cash flow in order to meet its short-term debt obligations and operating expenses. The needs of efficient working capital management must be considered in relation to other aspects of the firms' financial and non-financial performance. An efficient Working Capital Management is expected to contribute to the high financial performance. The main purpose of this study was to investigate the working capital management and its impact on firms' financial performance. The efficiency of working capital management was investigated through the cash conversion cycle. The research problem focused here -- What extent the working capital management influences on financial performance of the trading firms? -- A strong significant relationship between working capital management and profitability has been identified in previous research. It was assumed that -- The efficient working capital management has strong impact on financial performance. -- The dependent variable Return on Assets is used as a measure of profitability of financial performance and its' relationship with working capital management was investigated to find out the results. Samples of 9 trading firms have been selected from the companies listed by the Colombo stock exchange using Statistical Package for Social Sciences (SPSS) for the period of 2004 to 2009 to find out the results. The regression analysis results show that the high investment in inventories and receivables is associated with lower financial performance (ROA). For this analysis the inventories days, accounts receivable days, accounts payable days and cash operating cycle have been used. The findings also revealed that some firms have efficient working capital management and some have inefficient working capital management in the trends of working capital according to the cash operating cycle.
Book Synopsis Impact of Working Capital Management on Profitability by : rafathunnisa Syeda
Download or read book Impact of Working Capital Management on Profitability written by rafathunnisa Syeda and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success of any business depends on its profitability, liquidity, and solvency. Liquidity plays an important role in the successful running of a business. Many prior studies have been conducted to measure the relationship between working capital and profitability. The results showed that the high investment in inventories and receivables is associated with lower financial performance. They found a negative relationship between Return on Assets and Inventory turnover and Cash conversion cycle the present study is designed to know the direct impact of working capital on profitability by choosing the days of collection, days of payment, days inventory converts to sales and finally the cash conversion cycle. This study examines the association between the profitability and working capital using the data of 15 US trading companies for the period of 2015 to 2019. The key points in this study are firstly there exists a negative relationship between the profitability and the average collection period, the lower the average collection period higher will be the profitability, indicating that a decrease in the number of days a firm receives payment from sales affects the profitability of the firm positively. Secondly there is a highly significant positive relationship between average payment period and profitability. This implies that the longer a firm makes the payment to its creditors, the more profitable it is. Thirdly the cash conversion cycle decreases it will lead to an increase in profitability of the firm, and managers can create a positive value for the shareholders which indicates that it has been maintained. The regression analysis showed the value for the R-squared in the model is 0.584, i.e., 58.4% of the variation in the dependent variable Net Profitability is explained by the independent variables.
Book Synopsis The Impact of Aggressive Working Capital Management Policy on Firm's Value by : Abdullah Naqi
Download or read book The Impact of Aggressive Working Capital Management Policy on Firm's Value written by Abdullah Naqi and published by . This book was released on 2020 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study will examine the value of the firm and aggressive working capital management while considering the mediating effect of a firm's profitability. The study consist of 147 non-financial firms listed on the Pakistan Stock Exchange. The study period consists of years from 2009 to 2014. The finding reveals that aggressive working capital financing policy has a significant negative impact on profitability and firm value while aggressive investment policy discloses a significantly positive relationship with profitability. Profitability has a significant and positive impact on the firm's valuation therefore, profitability can mediate the relationship between the aggressive working capital management and the value of the firm. Therefore, we conclude that to enhance profitability through optimization of investment on current assets and by adding the proportion of long term financing in working capital. In the end, we have discussed some of our limitations and future research opportunities.
Book Synopsis Working Capital Management and Financing Decision by : Solabomi Omobola Ajibolade
Download or read book Working Capital Management and Financing Decision written by Solabomi Omobola Ajibolade and published by . This book was released on 2013 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Persuaded by the pecking order assumptions, where internal fund is preferred over debt and equity when financing investment projects, this study provided empirical evidence on the interaction between working capital management and corporate debt structure, and the effect of this on corporate profitability. The assumption on which the study was based is that, if internal funds become the preferred source of finance for investment projects, then working capital composition is interfered, making both decisions co-dependent. A pool of time-series and cross-sectional dataset was constructed from the annual audited financial results of 35 manufacturing companies listed on the Nigerian stock exchange for a two-year period (2011-2012). Panel exploration and Factorial-ANOVA estimation techniques were used to estimate the econometric models developed for the study. The results suggested a significant negative relationship between firm's working capital composition and their debt structure choice. Additionally, on individual basis, the study found a positive significant relationship between debt structure and profitability but no significant relationship between firm's working capital composition and profitability. The results, however, showed that as the firm's working capital composition synchronously interacts with the debt structure, corporate profitability is positively affected. The study therefore recommends that, for firms to optimize profitability and to maintain good liquidity position, corporate financing decision should be considered side by side with their working capital composition.
Book Synopsis Impact of Working Capital Management on Profitability by : Sujeewa Kodithuwakku
Download or read book Impact of Working Capital Management on Profitability written by Sujeewa Kodithuwakku and published by . This book was released on 2015 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Sri Lankan context, manufacturing sector has been recognized as an important strategic sector for socio-economic development and provides a significant contribution to the growth of the economy (Press Note Annual Estimates of GDP, 2012, p.5). Hence, it plays a vital role, which determines the driving force of the economy (Press Note Annual Estimates of GDP, 2012, p.5). Consequently, manufacturing companies encounter several issues and challenges in the effort of enhancing their profitability and reduce the threat of insolvency. Specifically, the Sri Lankan manufacturing sector is faced with the dilemma of maintaining an appropriate trade-off between working capital (WC) and profitability. In this study an attempt has been made to identify the impact of WC management on profitability of listed manufacturing companies. This study is primarily based on secondary data that were extracted from the annual reports of the 20 manufacturing companies listed in Colombo Stock Exchange (CSE). Balanced Panel Data (BPD) of these 20 manufacturing companies were analyzed by using the Pearson's Correlation and Ordinary Least Squire (OLS) regression model to establish the relationship between WCM and the profitability. The study found a negative relationship between the profitability and Debtor's Conversion Period (DCP), Inventory Conversion Period (ICP) and Cash Conversion Cycle (CCC), but a positive relationship between profitability and Creditor's Conversion Period (CCP). Moreover the financial leverage, sales growth and firm size also have a significant impact on the profitability. Based on the key findings from this study it has been concluded that the management of a firm can create value for its shareholders by reducing the DCP. The management can also create value for its shareholders by increasing inventories to a reasonable optimum level. Firms can also take long period to pay their creditors as far as they do not strain their relationship with them. As a recommendation it is suggested for all the manufacturing companies to have a greater focus on the relationship between WCM and profitability, by adopting an appropriate management which will ultimately lead to higher profitability and lower threat of insolvency.
