Phd Thesis Working Capital Management

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Consequently, efficient WCM is crucial in order to maintaining firms’ survival, liquidity, solvency and profitability.

Thus, WCM has enormous influence to firm’s performance.

The management needs to concern on account receivables, account payables, inventories and cash, as altering one component will affect the others.

Therefore, firms need to identify the optimal level of working capital that can maximise firm’s value (Afza and Nazir, 2007).

It is not necessary that the amount is always available in the form of cash.

It can take the form of near cash assets or even assets a little further from cash, but yet in the process of moving towards the cash form in a short period.Working capital management is an integral part of overall financial management.The sphere of working capital throws a welcome challenge and opportunity to a financial manager.Disclaimer: This work has been submitted by a student.This is not an example of the work produced by our Dissertation Writing Service.After testing every industries liquidity, working capital efficiency level and financial leverage position, their performance has been compared through ratio analysis.There around 19 ratios have compared of every units.The term working capital refers to short term funds required for financing the duration of the operating cycle in a business often known as “Accounting year”.These funds are used for carrying out the routine or regular business operations consisting of purchase of raw materials, payment of direct and indirect expenses, carrying out of production, investment in stocks and stores and amount to be maintained in the form of cash.Examine the relationship between the CCC and firm profitability.Examine the relationship between CCC components which are account receivables, account payable and inventory turnover period with firm’s profitability.

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