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Working Capital Management Impact on Corporate Profitability Relation With Corporate Governance: Evidence from Indian Manufacturing Sector

Journal of Commerce and Accounting Research

Volume 7 Issue 3

Published: 2018
Author(s) Name: Karam Pal Narwal, Sonia Jindal | Author(s) Affiliation: Prof., Haryana School of Business, Guru Jambheshwar University of Science and Tech., Hisar, Haryana.
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Abstract

The present study shows that the impact of corporate governance and working capital management on the corporate profitability of Indian manufacturing companies. A sample of 50 manufacturing companies for a period of 6 year has been examined (from 2010-11 to 2015-16). The corporate governance has been measured by CEO duality, board committee, board size, non executive directors, board meeting, audit committee members and directors remuneration. The working capital management has been measured by inventory, accounts receivable period, accounts payable period and cash holding. The profitability has been measured by the profit after tax. The correlation matrix and regression model has been used in study for analysis purpose. The finding of study shows that the corporate governance and working capital management may be helpful in improvement of corporate profitability. The findings of study may be helpful for managers, investors and stakeholders.

Keywords: Corporate Governance, Working Capital, Profitability, Board Size, Directors Remuneration

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