TAILIEUCHUNG - Working capital management and firm profitability: a study of listed companies in India

This study sought to examine the effect of working capital management on profitability of select companies listed in BSE. The study used a sample of 53 companies. The study used secondary data for a period of 5 years from 2011 – 2015. | Working capital management and firm profitability a study of listed companies in India International Journal of Management IJM Volume 8 Issue 6 Nov Dec 2017 pp. 152 162 Article ID IJM_08_06_016 Available online at http ijm JType IJM amp VType 8 amp IType 6 Journal Impact Factor 2016 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication WORKING CAPITAL MANAGEMENT AND FIRM PROFITABILITY A STUDY OF LISTED COMPANIES IN INDIA Arpita Naskar Department of MBA Student of Future Institute of Engineering and Management Sonarpur Kolkata India Prasanta Guha Department of MBA Faculty of Future Institute of Engineering and Management Sonarpur Kolkata India ABSTRACT Financing decision of an entity bears relation with working capital management. It is a part of short term financing. The study of corporate finance is also linked with Working capital management. Thus this study sought to examine the effect of working capital management on profitability of select companies listed in BSE The study used a sample of 53 companies. The study used secondary data for a period of 5 years from 2011 2015. The data have been analysed using the Pearson correlation and the multivariate regression analysis. The study has revealed that the all components of working capital namely Receivable days RD Payable days PD Inventory holding periods ID Current ratio CR and Quick ratio QR have strong impact on profitability. Cash conversion cycle CCC is negatively related with the profitability Firm size is also linked with working capital. If firm size increases the need of working capital will be more. It has been found that the firm size has also significant impact on EBIT but insignificant impact on ROA and ROE. Finally the study has established a relation between working capital management and firm s profitability. Keyword head Working capital management Firm s profitability ROA ROE RD CCC Cite this Article Arpita Naskar and

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