The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance

The current global economy uncertainties have led to the reduction in the accessibility to trade credit facilities imposed on firms by banks and financial institutions. Critically, firms are keen to look internally to working capital management as a key source of finance. Among the main goal of this...

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Main Author:	Choong, Yuen Leng
Format:	Thesis
Language:	eng eng eng
Published:	2016
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/6310/1/depositpermission_s94141.pdf https://etd.uum.edu.my/6310/2/s94141_01.pdf https://etd.uum.edu.my/6310/3/s94141_02.pdf
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id	my-uum-etd.6310
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng
advisor	Mazlan, Ahmad Rizal
topic	HG Finance
spellingShingle	HG Finance Choong, Yuen Leng The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance
description	The current global economy uncertainties have led to the reduction in the accessibility to trade credit facilities imposed on firms by banks and financial institutions. Critically, firms are keen to look internally to working capital management as a key source of finance. Among the main goal of this research is to evaluate the moderating role of the working capital management on the relationship between key determinants of working capital and firm performance. The population for this study covers manufacturing firms listed on the main market of Bursa Malaysia Securities Berhad. This study covers eleven sectors classification based on the criteria established by Malaysia Investment Development Authority. All data is extracted from Bloomberg database. The multivariate analysis of this study is carried out using Statistical Package for the Social Sciences in order to test the hypotheses. The findings have shown that the relationship between key determinants of working capital and firm performance are moderated by working capital management and they form a contemporary working capital management model. Likewise, days sales outstanding and net liquid balance serves as alternative measures of a firm efficiency and liquidity position. Also, it was found that working capital requirements moderate all the relationships between the key determinants of working capital and firm performance. Except for firm size, it was also found that net liquid balance moderates the relationships between the key determinants of working capital and firm performance. This study concludes that the interaction effects of working capital management in listed manufacturing firms as modifying either the strength or direction of relationships between predictors and criterion. Therefore, it provides a comprehensive research framework for listed manufacturing firms to gain competitive advantage in terms of operational analysis, resource management and profitability.
format	Thesis
qualification_name	Doctor of Business Administration (DBA)
qualification_level	Doctorate
author	Choong, Yuen Leng
author_facet	Choong, Yuen Leng
author_sort	Choong, Yuen Leng
title	The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance
title_short	The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance
title_full	The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance
title_fullStr	The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance
title_full_unstemmed	The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance
title_sort	interaction effects of working capital management on the relationship between key determinants of working capital and firm performance
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2016
url	https://etd.uum.edu.my/6310/1/depositpermission_s94141.pdf https://etd.uum.edu.my/6310/2/s94141_01.pdf https://etd.uum.edu.my/6310/3/s94141_02.pdf
_version_	1747828056833130496
spelling	my-uum-etd.63102017-06-15T10:53:04Z The interaction effects of working capital management on the relationship between key determinants of working capital and firm performance 2016 Choong, Yuen Leng Mazlan, Ahmad Rizal Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HG Finance The current global economy uncertainties have led to the reduction in the accessibility to trade credit facilities imposed on firms by banks and financial institutions. Critically, firms are keen to look internally to working capital management as a key source of finance. Among the main goal of this research is to evaluate the moderating role of the working capital management on the relationship between key determinants of working capital and firm performance. The population for this study covers manufacturing firms listed on the main market of Bursa Malaysia Securities Berhad. This study covers eleven sectors classification based on the criteria established by Malaysia Investment Development Authority. All data is extracted from Bloomberg database. The multivariate analysis of this study is carried out using Statistical Package for the Social Sciences in order to test the hypotheses. The findings have shown that the relationship between key determinants of working capital and firm performance are moderated by working capital management and they form a contemporary working capital management model. Likewise, days sales outstanding and net liquid balance serves as alternative measures of a firm efficiency and liquidity position. Also, it was found that working capital requirements moderate all the relationships between the key determinants of working capital and firm performance. Except for firm size, it was also found that net liquid balance moderates the relationships between the key determinants of working capital and firm performance. 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