{"title":"印度中小企业营运资金管理与企业盈利能力之间是否存在非线性关系?","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":"{\"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}","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}
Is the relationship between working capital management and firm profitability non-linear in Indian SMEs?
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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