An Analysis of Working Capital Management Results Across Industries
Abstract
Firms are able to reduce financing costs and/or increase the funds available for expansion by minimizing the amount of funds tied up in current assets. We provide insights into the performance of surveyed firms across key components of working capital management by using the CFO magazine’s annual Working Capital Management Survey. We discover that significant differences exist between industries in working capital measures across time. In addition, we discover that these measures for working capital change significantly within industries across time.
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Determining the impact of WCM on profitability is best done by focusing on single industries rather than multiple industries.
“Firstly, WCM practices differ considerably among industries; therefore, determining the impact of WCM on profitability is best done by focusing on single industries rather than multiple industries (Filbeck and Krueger 2005)”
From Working Capital Management Impact on Profitability: Pre-Pandemic and Pandemic Evidence from the European Automotive Industry (2022) · cites this paper as Filbeck and Krueger 2005
WCM practices differ considerably among industries.
“Firstly, WCM practices differ considerably among industries; therefore, determining the impact of WCM on profitability is best done by focusing on single industries rather than multiple industries (Filbeck and Krueger 2005)”
From Working Capital Management Impact on Profitability: Pre-Pandemic and Pandemic Evidence from the European Automotive Industry (2022) · cites this paper as Filbeck and Krueger 2005
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Economic downturns and working capital management practices: A qualitative enquiry
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Analysing Efficiency Change in Working Capital Management using Malmquist Productivity Index
Goel, U., & Sharma, A. K. (2015) · Journal of Information and Optimization Sciences · doi:10.1080/02522667.2015.1047586 · Cited by 22 · see citing works
Working capital management, COVID-19, and profitability of UK retail firms
Elfeituri, H., & Alfitouri, T. (2025) · Corporate Ownership and Control · doi:10.22495/cocv22i2art7 · Cited by 1 · see citing works
“This unprecedented crisis highlighted the need for retailers to safeguard an adequate level of working capital to navigate disruptions while protecting profitability (Filbeck & Krueger, 2005).”
- Authors
- Filbeck, G., & Krueger, T. M.
- Affiliations
- Schweser Study Program
- University of Wisconsin–La Crosse (US)
- Venue
- Mid-American Journal of Business
- Publisher
- Emerald
- Published
- 2005-10-28
- Volume
- 20
- Issue
- 2
- Pages
- 11-20
- ISSN
- 0895-1772 (ISSN-L)
- 1935-522X
- OpenAlex
- W2028692193
- Cited by
- 342
- References
- 0
- Citations by year
- 2026: 4 · 2025: 13 · 2024: 21 · 2023: 27 · 2022: 26 · 2021: 19 · 2020: 20 · 2019: 23 · 2018: 18 · 2017: 23 · 2016: 17 · 2015: 23 · 2014: 36 · 2013: 24 · 2012: 24
- FWCI
- 0.00
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Mid-American Journal of Business (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Working Capital and Financial Performance
- Social Sciences › Business, Management and Accounting › Management Information Systems › Supply Chain and Inventory Management
- Social Sciences › Business, Management and Accounting › Accounting › Financial Analysis and Corporate Governance
- Keywords
- working capital management, current assets, industry differences, firm performance, financing costs, current asset turnover, time series variability
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