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A Survey of Working Capital Policy among Small Manufacturing Firms

Author

Listed:
  • Richard Burns

    (University of Alabama)

  • Joe Walker

    (University of Alabama)

Abstract

This study reports results of a nationwide survey on overall working capital policy of small manufacturing firms. The survey instrument used was a modified version of the 1980 Smith and Sell study [18] on large firms. A detailed 36-question form queried firms on their overall working capital policies as well as on the management of the components of working capital. Statistically significant measures of association between working capital policies and tools were found among many of the variables. However, many other expected relationships were not confirmed.

Suggested Citation

  • Richard Burns & Joe Walker, 1991. "A Survey of Working Capital Policy among Small Manufacturing Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 1(1), pages 61-74, Spring.
    • Handle: RePEc:pep:journl:v:1:y:1991:i:1:p:61-74
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Joe Walker & Richard Burns & Chad Denson, 1993. "Why Small Manufacturing Firms Shun DCF," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 2(3), pages 233-249, Summer.
    2. Noomane Ketata & Josée St-Pierre, 1996. "La gestion du fonds de roulement des PME en période de récession économique," Post-Print hal-01703496, HAL.
    3. Godfred Adjapong Afrifa, 2013. "Working Capital Management Practices of UK SMEs: The Role of Education and Experience," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(4), pages 185-196, October.
    4. Dr. Vinay Kandpal & Prof P C Kavidayal, 2013. "Implication of Working Capital Management on the Profitability: A Case of ONGCLtd, India," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 4(2), pages 49-53, May.
    5. Selvanayaki, S. & Sivakumar, S.D. & Rohini, A. & Mani, K., 2016. "Financial Management Practices and Profitability of Modern Rice Milling Firms in Kangayam Cluster, Tamil Nadu," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 29(2).
    6. Padachi Kesseven D & Carole Howorth, 2014. "Focus on working capital management practices among Mauritian SMEs: Survey evidence and empirical analysis," E3 Journal of Business Management and Economics., E3 Journals, vol. 5(4), pages 097-108.
    7. N Michaelas & F Chittenden & P Poutziouris, 1999. "Policy Implications Arising from the Impact of the Last Recession on the Capital Structure of UK SMEs," Environment and Planning C, , vol. 17(4), pages 411-430, August.

    More about this item

    Keywords

    Capital ; Firm ; Small Firms ; Manufacturing; Working Capital;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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