Working Capital Performance of Corporate India: An Empirical Survey

Posted: 23 Dec 2004

See all articles by Manoj Anand

Manoj Anand

Management Development Institute


Most of the chief financial officer's (CFO) time is devoted to working capital management. Still, a large number of business failures have been attributed to an inability of financial managers to plan and control properly the current assets and current liabilities of their respective firms. The objective of working capital management of any firm is to mange the firm's inventory, receivables and payables in order to achieve a balance between risk and return and thereby contribute positively to the creation of a firm value. The present empirical survey has been designed to identify some quantitative working capital benchmarks in order to help Corporate India to mange its working capital more efficiently.

Keywords: Working Capital, Days Operating Cycle, Days Working Capital, Performance Evaluation, India

JEL Classification: G39

Suggested Citation

Anand, Manoj, Working Capital Performance of Corporate India: An Empirical Survey. Management and Accounting Research, Vol. 4, No. 4, pp. 35-65, April - June 2001, Available at SSRN:

Manoj Anand (Contact Author)

Management Development Institute ( email )

Gurugram, Haryana 122001

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