International Journal of Social Science & Economic Research
Submit Paper

Title:
AN EXPERIMENTAL ANALYSIS ON EFFICIENCY OF THE MANAGEMENT OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN PHARMACEUTICALS INDUSTRY

Authors:
Dr. Sadaf Mustafa, Farheen Zehra Rizvi, Syed Salman Ali, Rizwan Malik

|| ||

1Dr. Sadaf Mustafa, 2Farheen Zehra Rizvi, 3Syed Salman Ali, 4Rizwan Malik
1. Assistant Professor, Department Of Commerce, University Of Karachi, Pakistan
2,3,4. M. Phil Scholar, Department Of Commerce, University Of Karachi, Pakistan

MLA 8
Mustafa, Dr. Sadaf, et al. "AN EXPERIMENTAL ANALYSIS ON EFFICIENCY OF THE MANAGEMENT OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN PHARMACEUTICALS INDUSTRY." Int. j. of Social Science and Economic Research, vol. 3, no. 7, July 2018, pp. 3232-3239, ijsser.org/more2018.php?id=226. Accessed 2018.
APA
Mustafa, D., Rizvi, F., Ali, S., & Malik, R. (2018, July). AN EXPERIMENTAL ANALYSIS ON EFFICIENCY OF THE MANAGEMENT OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN PHARMACEUTICALS INDUSTRY. Int. j. of Social Science and Economic Research, 3(7), 3232-3239. Retrieved from ijsser.org/more2018.php?id=226
Chicago
Mustafa, Dr. Sadaf, Farheen Zehra Rizvi, Syed Salman Ali, and Rizwan Malik. "AN EXPERIMENTAL ANALYSIS ON EFFICIENCY OF THE MANAGEMENT OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN PHARMACEUTICALS INDUSTRY." Int. j. of Social Science and Economic Research 3, no. 7 (July 2018), 3232-3239. Accessed , 2018. ijsser.org/more2018.php?id=226.

References
[1]. agha, h. (2014). impact of working capital management on profitability. european scientific journal, 10(1), 374-381.
[2]. azam, m., & haider, S. (2011). impact of working capital management on firms performance: evidence from non-financial institutions of KSE-30 index. interdisciplinary journal of contemporary research in business, 3(5), 481-492.
[3]. bagchi, B., & khamrui, K. (2012). relationship between working capital management and profitability: A study of selected FMCG companies in india. business and economics journal, 1-11.
[4]. barot, h. (2012). working capital management and profitability: evidence from india: an empirical study,. GFJMR, 5, 1-9.
[5]. bieniasz, A., & golas, Z. (2011). the influence of working capital management on the food industry enterprises profitability. contemporary economics, 5(4), 68-81.
[6]. hassan, m. (2017). impact of working capital on the profitability of UK pharmaceutical and biotechnology FTSE all share index firms. journal of quantitative methods, 1(1), 58-78.
[7]. makori, A., & jagongo, A. (2013). working capital management and firm profitability: empirical evidence from manufacturing and construction firm listed on nairobi securities exchange, kenya. international journal of accounting and taxation, 1(1), 1-14.
[8]. Mohamad, N., & Saad, N. (2010). working capital management: the effect of market valuation and profitability in malaysia. international journal of business management, 5(11), 140.
[9]. Pike, R., & Neale, B. (2009). Corporate finance and investment: decisions and strategies (6th ed.). london ft prentice hall.
[10]. quayyum, S. (2011). relationship between working capital management and profitability in context of manufacturing industries in bangladesh. international journal of business and management, 7(1), 58.
[11]. shah, b., arif, g., & sohu, n. (2018). the impact of working capital management on profitability: case study of pharmaceutical and chemical firms listed on KSE. international journal of economics, commerce and management, 6(3), 200-220.
[12]. singh, s., & kaur, h. (2017). working capital management and profitability evidence from selected steel manufacturing companies in india. indian journal of commerce and management studies, 8(2), 73-79.
[13]. Sultan, F., Takmil, A., & Wasim, S. (2017). An empirical analysis on efficiency of working capital management: A case of pakistan textile industry. international journal of research scholars, 1(1), 1-5.
[14]. Watson, D., & Head, A. (2010). Corporate finance: principles and practice (5th ed.). london FT prentice hall.
[15]. Wild, J., & Bernstein, L. (1998). Financial statement analysis, Theory, Application and interpretation (6th ed.).

Abstract:
Working capital management play a paramount role for the performance of the companies. The study of this paper empirically scrutinize the effect of working capital management on performance of pharmaceutical firms, listed in Pakistan stock exchange. We have used secondary data for analysis which has been taken from firm's annual financial report and state bank of Pakistan (SBP) for the year of 2012-2016. We have taken profitability which is return on assets (ROA) as a dependent variable while the Cash Conversion Cycle (CCC), Inventory Conversion Period (ICP), Average Cash Collection Period (ACP) has been taken as the independent variables. The result revealed the positive and significant relationship between dependent and independents variables.