{"title":"Is the relationship between working capital management and firm profitability non-linear in Indian SMEs?","authors":"Nufazil Ahangar","doi":"10.1080/13215906.2021.1872685","DOIUrl":null,"url":null,"abstract":"ABSTRACT The aim of this paper is to examine the relationship between working capital management (WCM) and firm profitability for a sample of 2122 Indian SMEs. The study is based on secondary financial data obtained from electronic database PROWESS of Centre for Monitoring Indian Economy (CMIE), pertaining to a period of 12 years. The study employs two-step generalized method of moments (GMM) estimation to arrive at the results. The estimates of two-step GMM confirm an inverted U-shape relationship between WCM and firm profitability.","PeriodicalId":45085,"journal":{"name":"Small Enterprise Research","volume":"62 1","pages":"23 - 35"},"PeriodicalIF":1.7000,"publicationDate":"2021-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"7","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Small Enterprise Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/13215906.2021.1872685","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 7
Abstract
ABSTRACT The aim of this paper is to examine the relationship between working capital management (WCM) and firm profitability for a sample of 2122 Indian SMEs. The study is based on secondary financial data obtained from electronic database PROWESS of Centre for Monitoring Indian Economy (CMIE), pertaining to a period of 12 years. The study employs two-step generalized method of moments (GMM) estimation to arrive at the results. The estimates of two-step GMM confirm an inverted U-shape relationship between WCM and firm profitability.
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