Working Capital Management and Firms’ Profitability: Dynamic Panel Data Analysis of Manufactured Firms
Journal: Journal of Financial Risk Management
Year: 2020

This paper examines the impact of working capital management on firm’s profitability performance of manufacturing firms by using not only static models such as ordinary least square (OLS), fixed and random effects but also dynamic models difference generalized method of moments (GMM) and system generalized method of moments (SGMM) over the period from 2007 to 2018. The performance was measured in terms of profitability by return on the asset as a dependent variable and the working capital manage