Impact Of Working Capital Management On Profitability – The Impact of Motivation on Employee Performance A Research-Based Case Study in a Secondary School in Bangladesh

For many years, motivation has been a key indicator of the productive performance of employees within an organization, so it has been an area of ​​great concern to the organization and human resource managers. There is a wide range of factors relating to management, employees, organization and the workplace that make it a complex and challenging job to motivate employees in an organisation. Therefore, the organization and human resource managers should use different strategies and methods to motivate employees. There are different needs and expectations for an employee to join any organisation. Human resource managers use financial and non-financial factors to achieve different objectives related to employees and organizations.

Impact Of Working Capital Management On Profitability

The present research investigates the effect of motivation on employee performance in Ramchandrapur High School. A descriptive method and questionnaires incorporated with a Likert scale were used as main instruments for collecting data necessary to carry out this research. Data is collected from the sample size of 50 which included faculty members, employee assistants, office assistants, and employees in training and security personnel. The critical review of the literature and the quantitative analysis of the survey data pointed out that both extrinsic and intrinsic motivational factors play an important role in motivating employees. The study revealed that salary is the most effective motivational factor among various extrinsic and intrinsic motivational factors such as job security, career development, the good relationship between colleagues, sense of achievement, training and development and sense of recognition. The study further reveals that the level of motivation among the employees of Ramchandrapur High School is low compared to the expectations of employees.

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Although extrinsic and intrinsic factors are responsible for motivating employees in an organization, this study reveals that employees of Ramchandrapur High School are motivated more by extrinsic factors than intrinsic ones. The management of the school should focus more on satisfying the intrinsic need of the employees to retain the employees for a long period which then helps to improve the quality of the output produced by it. Open Access Policy Institutional Open Access Program Special Issues Guidelines The Editorial Process Research and Publishing Testimonials Awards Article Processing Ethics

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Impact Of Working Capital Management On Profitability Of Unilever Nepal Limited

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By Sorin Gabriel Anton Sorin Gabriel Anton Scilit Preprints.org Google Scholar View Publications and Anca Elena Afloarei Nucu Anca Elena Afloarei Nucu Scilit Preprints.org Google Scholar View Publications *

Department of Finance, Money, and Public Administration, Faculty of Economics and Business Administration, University of Iasi Alexandru Ioan Cuza, Carol I Avenue, No. 11, 700505 Iasi, Romania

Received: 1 December 2020 / Revised: 19 December 2020 / Accepted: 21 December 2020 / Published: 25 December 2020

Iraqi Academic Scientific Journals

The purpose of this study is to investigate the relationship between working capital and company profitability for a sample of 719 Polish listed companies over the period 2007-2016. The scarcity of empirical evidence for emerging economies and the importance of working capital efficiency drives the research on the relationship between working capital and financial performance. The paper adopts a quantitative approach using different panel data techniques (ordinary least squares, fixed effects, and panel corrected standard error models). The empirical results report an inverted U-shaped relationship between the level of working capital and company profitability, which means that working capital has a positive effect on the profitability of Polish companies up to the break-even point (optimum level). After the break-even point, working capital begins to have a negative impact on a company’s profitability. The study brings theoretical and practical contributions. It extends and complements the literature in the field by highlighting new evidence on the non-linear relationship between working capital management (WCM) and corporate performance in Poland. From the perspective of the practitioners, the results highlight the importance of WCM for a company’s profitability.

The corporate finance literature recognizes the importance of short-term financial decisions for the profitability of the firm. In a global context, working capital management problems are an ongoing topic due to its importance in ensuring the best possible path for businesses. Able to act as a liquidity buffer (Baños-Caballero et al. 2020), working capital plays a valuable role during economic turmoil (Enqvist et al. 2014). In a recent report on all listed companies globally (PWC Annual Report 2019), PWC Global points out that improving working capital could free up €1.3 trillion of cash, which could boost capital investment by 55%. Furthermore, the report highlights new challenges for the financial performance of globally listed companies over the past five years: capital expenditure has fallen, cash has become more expensive and harder to come by conversion, and working capital has improved only slightly. Given this background, businesses need to have a working capital culture as a support for financial performance.

However, empirical evidence on the relationship between working capital and corporate performance is somewhat mixed. On the one hand, investments in working capital are supposed to have a positive influence on a company’s profitability because they support growth in terms of sales and earnings (Baños-Caballero et al. 2020; Aktas et al. 2015). Sales are positively influenced by trade credit, improving customer relationships, while holding more inventories secures the business from price fluctuations. Furthermore, short-term debts used to finance working capital have low interest rates and are free of inflation risk (Mahmood et al. 2019). On the other hand, overinvestment in working capital requires financing and, as a result, ancillary costs, and could also create adverse effects and financial losses for shareholders (Chang 2018; Aktas et al. 2015). Therefore, a rapid increase in the cost of working capital investments compared to the benefits of holding larger inventories or allowing for trade credit to customers lowers the company’s profitability levels. Recently, some papers argued that there is a non-linear correlation between investment in working capital and company profitability (Mahmood et al. 2019; Tsuruta 2018; Boțoc and Anton 2017; Aktas et al. 2015; Mun and Jang 2015; Baños-Caballero et al. 2014 ). The non-linear relationship assumes that investments in working capital have a positive influence on corporate profitability up to a certain point, which is the optimum level of working capital (or the break-even point). Above the optimum, working capital can become a negative determinant of company performance. The positive and negative combination with a break-even point is called an inverted U-shaped relationship (Mahmood et al. 2019). Taking into account that “entrepreneurial success can only refer to the fact of continuing to run the business” (Staniewski and Awruk 2019), it can be recognized that the compromise between working capital and a company’s profitability is of important significance in the context of entrepreneurial success. .

This study seeks to examine the potential of creating working capital profits for a sample of Polish companies over the period 2007-2016. The first motivation behind the study is represented by the characteristics of the market. The Polish market was developing dynamically and may have different characteristics than the patterns of mature markets (Mielcarz et al. 2018). Moreover, it is worth knowing that according to the FTSE Russell Agency, Poland qualified as a developed country in 2018. Secondly, the economic prospects of Poland motivate the current research. Over the period analysed, there has been an upward trend towards inflation, leading to an increase in interest rates, which affects the corporate cost of capital. In light of this threat, businesses can focus on the areas under their control, covering working capital. The third motivation behind this paper is the fact that a large body of recent research studies have investigated the impact of working capital on corporate performance from the perspective of developed economies particularly the US, the UK and China (i.e., Dalci et al. 2019). ; Ren et al. 2019; Laghari and Chengang 2019; Mahmood et al. 2019; Goncalves et al. 2018; Tsuruta 2018; Aktas et al. 2015; Mun and Jang 2015; Enqvist 2015; Enqvist et al. 2014). In particular, a small number of studies have focused on emerging economies: Uganda (Kabuye et al. 2019), Egypt (Moussa 2018), Vietnam (Le 2019; Nguyen and Nguyen 2018), Malaysia ( Yusoff et al. 2018), high- growth

Working Capital Management And Profitability Of Listed Pharmaceutical Firms In Nigeria.

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