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A cross-industry analysis of working capital management in India: pre and post financial crisis

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  • Harsh Partap Singh
  • Satish Kumar

Abstract

The main objective of this paper is to evaluate the working capital measures such as cash conversion cycle (CCC), days receivable outstanding (DRO), days payable outstanding (DPO) and days inventory outstanding (DIO) across industries and determine whether differences exist among different industries with respect to working capital measures in India. In addition to that, an attempt has also been made to test whether the efficiency of working capital management (WCM) in Indian companies has improved after the global financial crisis (GFC) of 2008. To achieve these objectives, financial data of 896 firms listed on Bombay stock exchange (BSE) for the period of 12 years (2002-2013) has been analysed. The results of this study indicate that working capital measures (DIO, DPO, DRO and CCC), are significantly differ in various industry groups. It is also observed that Indian companies have become more efficient in managing working capital after the GFC of 2008.

Suggested Citation

  • Harsh Partap Singh & Satish Kumar, 2017. "A cross-industry analysis of working capital management in India: pre and post financial crisis," International Journal of Management Practice, Inderscience Enterprises Ltd, vol. 10(2), pages 152-174.
    • Handle: RePEc:ids:ijmpra:v:10:y:2017:i:2:p:152-174
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    Cited by:

    1. Minhas Akbar & Ahsan Akbar & Muhammad Umar Draz, 2021. "Global Financial Crisis, Working Capital Management, and Firm Performance: Evidence From an Islamic Market Index," SAGE Open, , vol. 11(2), pages 21582440211, May.

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