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題 名 | Practices of Working Capital Management Policies in Malaysia |
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作 者 | Ashhari, Zariyawati Mohd; Nassir, Annuar Md; | 書刊名 | Academy of Taiwan Business Management Review |
卷 期 | 5:1 2009.04[民98.04] |
頁 次 | 頁56-61 |
分類號 | 494.7 |
關鍵詞 | |
語 文 | 英文(English) |
英文摘要 | There is no doubt that working capital is important to a firm. The efficient working capital management is an integral part of overall management strategy to create shareholders’ wealth. Further, there is not a single working capital policy that is suitable for all firms. Each firm requires a policy which can maximised shareholders’ wealth. However, to have an optimal working capital a firm should strive to balance its risk and return; it is a trade-off between profitability and liquidity. Therefore, this study aims to investigate the working capital policies practiced among firms in Bursa Malaysia. Results for the degree of aggressive asset management show the sector had distinctive and significantly different policies. Further, the asset policies between sectors revealed significant stability over the twelve year study period. The results of this study also showed a high and significant negative correlation between sector of asset and liability policies. This is revealed when a firm applied aggressive working capital asset policies which followed by conservative working capital financial policies. |
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