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2013 (Vol. 5, Issue: 2)
Article Information:

Managing Efficiency and Profitability Through Working Capital: an Empirical Analysis of BSE 200 Companies

Harsh Vineet Kaur and Sukhdev Singh
Corresponding Author:  Harsh Vineet Kaur 

Key words:  Cash conversion efficiency, correlation, days operating cycle, days working capital, efficiency of working capital management, ,
Vol. 5 , (2): 197-207
Submitted Accepted Published
March 26, 2012 April 12, 2012 April 15, 2013
Abstract:

Efficient management of working capital helps to avoid financial crises, thereby, increasing the profitability and enhances the firm value. The present study analyses the working capital performance of 164 manufacturing BSE 200 companies classified into 19 industries over the period of 2000-2010 based on working capital score calculated by using normalised values of Cash Conversion Efficiency, Days Operating Cycle and Days Working Capital. The study explores abundant scope to increase the efficiency of 145 companies by improving the parameters of analysis. The improvements are bound to generate increased profits and profitability of leading corporate of India. The study tests the relationship between the working capital score and profitability measured by Income to Current Assets and Income to Average Total Assets. The results of the study support earlier studies revealing that efficient management of working capital significantly affects profitability.
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  Cite this Reference:
Harsh Vineet Kaur and Sukhdev Singh, 2013. Managing Efficiency and Profitability Through Working Capital: an Empirical Analysis of BSE 200 Companies.  Asian Journal of Business Management, 5(2): 197-207.
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ISSN (Online):  2041-8752
ISSN (Print):   2041-8744
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