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Working Capital Management and Profitability: Evidence from Manufacturing Sector in Malaysia
Open accessAbstract
The purpose of this study is to examine the effect of working capital management on firm’s profitability. The study is based on a sample of 164 manufacturing firms listed on the Main Board of Bursa Malaysia, covering a span of five years from 2007 to 2011. A discriminatory panel regression and Pearson correlation are used to test the hypotheses. The empirical evidence found that there is existence of significant positive relationship between exogenous variables, the average collection period, inventory conversion period and firm’s size and its endogenous variable, which is firm’s profitability. The findings also show a significant inverse relationship between debt ratio (leverage) and firm’s profitability, but the firm’s capability to translate working capital into cash promptly, as proxy in log cash conversion cycle has no impact on firm’s profitability.
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“This result is also found in research conducted by Samiloglu and Akgun (2016) and Jakpar et al., (2017) which explain that the CCC has an insignificant negative effect on Return on Assets (ROA).”
From Working capital management and profitability: evidence from Indonesian manufacturing companies (2020) · cites this paper as Jakpar et al., (2017)
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Impact of working capital management on profitability: evidence from listed companies in Qatar
Aldubhani, M. A. Q., Wang, J., Gong, T., & Maudhah, R. A. (2022) · Journal of Money and Business · doi:10.1108/jmb-08-2021-0032 · Cited by 119
Working capital management and profitability: evidence from Indonesian manufacturing companies
Aryawan, I., & Indriani, A. (2020) · Diponegoro International Journal of Business · doi:10.14710/dijb.3.1.2020.36-46 · Cited by 15
“This result is also found in research conducted by Samiloglu and Akgun (2016) and Jakpar et al., (2017) which explain that the CCC has an insignificant negative effect on Return on Assets (ROA).”
Result
Metadata
- Authors
- S, J., M, T., TK, S., A, J., KT, M., & MS, S.
- Venue
- Journal of Business & Financial Affairs
- Publisher
- OMICS Publishing Group
- Published
- 2017
- Volume
- 06
- Issue
- 02
- ISSN
- 2167-0234 (ISSN-L)
- OpenAlex
- W2611163406
- Cited by
- 54
- References
- 0
- Citations by year
- 2025: 2 · 2024: 6 · 2023: 15 · 2022: 6 · 2021: 10 · 2020: 6 · 2019: 8 · 2018: 1
- FWCI
- 13.29
- Type
- journal article
- Language
- en
- Open access
- hybrid
- doi.org
- Licence
- cc-by
- Locations
- Journal of Business & Financial Affairs (publishedVersion, cc-by)
- eSpace (Curtin University) (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Working Capital and Financial Performance
- Social Sciences › Decision Sciences › Management Science and Operations Research › Supply Chain and Inventory Management
- Social Sciences › Business, Management and Accounting › Accounting › Financial Analysis and Corporate Governance
- Keywords
- working capital management, firm profitability, manufacturing companies, average collection period, inventory conversion period, firm size, debt ratio, leverage, cash conversion cycle, Malaysian manufacturing
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- CoChat. (2026). Citation check: Working Capital Management and Profitability: Evidence from Manufacturing Sector in Malaysia. https://app.cochat.ai/papers/10.4172/2167-0234.1000255
- The paper
- S, J., M, T., TK, S., A, J., KT, M., & MS, S. (2017). Working Capital Management and Profitability: Evidence from Manufacturing Sector in Malaysia. Journal of Business & Financial Affairs. https://doi.org/10.4172/2167-0234.1000255
