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Working capital management and performance of listed SMEs

Afrifa, G.A., Tauringana, Venancio, Tingbani, Ishmael (2015) Working capital management and performance of listed SMEs. Journal of Small Business & Entrepreneurship, 27 (6). pp. 557-578. (doi:10.1080/08276331.2015.1114351) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (Contact us about this Publication)
Official URL
http://dx.doi.org/10.1080/08276331.2015.1114351

Abstract

This paper reports the results of the effect of working capital management (WCM) on the performance of listed small and medium enterprises (SMEs). The study also examines whether the effect of WCM on performance differs between ‘small’ and ‘medium’ firms. The paper employs panel data regression analysis on a sample of 141 Alternative Investment Market listed SMEs for an eight-year period (2007–2014). The results show that for all SMEs, WCM components (inventory holding period, accounts receivable period, and accounts payable period) have concave relationships with performance. However, when the SMEs are split into ‘small’ and ‘medium’ firms, the results suggest that WCM is relatively more important to the performance of ‘small’ firms than ‘medium’ firms. Overall, the results imply that WCM components affect performance of the listed SMEs. The findings have important implication for policy-makers who prescribe financial assistance mechanisms for SMEs.

Item Type: Article
DOI/Identification number: 10.1080/08276331.2015.1114351
Subjects: H Social Sciences
H Social Sciences > H Social Sciences (General)
Divisions: Faculties > Social Sciences > Kent Business School
Faculties > Social Sciences > Kent Business School > Accounting and Finance
Depositing User: Tracey Pemble
Date Deposited: 21 Mar 2018 13:50 UTC
Last Modified: 29 May 2019 20:24 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/66505 (The current URI for this page, for reference purposes)
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