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An Assessment on Determinant of Working Capital Management from Malaysian Public Listed Companies

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Author Info

  • Nor Edi Azhar Binti Mohamad

    ()
    (Universiti Tenaga Nasional)

  • Siti Balqis Elias

    (Universiti Tenaga Nasional)

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    Abstract

    This study investigates the practice of Working Capital Management (WCM) in Malaysian context, particularly in Malaysian public listed companies. Eventually, determining the important factors affecting working capital management would able managers to manage working capital efficiently and effectively. As for this purpose, a study of 150 public listed companies from 7 different sectors that were listed in Bursa Malaysia Main Market covering the period of 2002-2011 was undertaken. This study used cash conversion cycle (CCC) and working capital as a proxy for working capital requirement (WCR) while debt, capital expenditure, free cash flow, gross domestic product and firm growth are used as the determinant variables. In conclusions, applying correlations and Pooled Ordinary Least Square Regression analysis, the result shows that there are significant associations between working capital and its determinants factors.

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    Bibliographic Info

    Article provided by Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences in its journal International Journal of Academic Research in Accounting, Finance and Management Sciences.

    Volume (Year): 3 (2013)
    Issue (Month): 4 (October)
    Pages: 224-228

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    Handle: RePEc:hur:ijaraf:v:3:y:2013:i:4:p:224-228

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    Web page: http://hrmars.com/index.php/pages/detail/Accounting-Finance-Journal

    Related research

    Keywords: Cash conversion cycle; working capital requirement and capital expenditure;

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    1. Matthew D. Hill & G. Wayne Kelly & Michael J. Highfield, 2010. "Net Operating Working Capital Behavior: A First Look," Financial Management, Financial Management Association International, vol. 39(2), pages 783-805, 06.
    2. Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
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