References

Afza, T. and M.S. Nazir, 2008. Working capital approaches and firm’s returns in Pakistan. Pak. J. Commerce Social Sci., 1: 25-36.
Direct Link  |  

Blinder, A.S. and L.J. Maccini, 1991. The resurgence of inventory research: What have we learned?. J. Econ. Surv., 5: 291-328.
Direct Link  |  

Deloof, M., 2003. Does working capital management affect profitability of Belgian firms. J. Bus. Finance Accounting, 30: 573-588.
CrossRef  |  Direct Link  |  

Eljelly, A.M.A., 2004. Liquidity-profitability tradeoff: An empirical investigation in an emerging market. Int. J. Commerce Manage., 14: 48-61.
CrossRef  |  Direct Link  |  

Emery, G.W., 1987. An optimal financial response to variable demand. J. Financial Quant. Anal., 22: 209-225.
Direct Link  |  

Garcia-Teruel, P.J. and P. Martinez-Solano, 2007. Effects of working capital management on SME profitability. Int. J. Manage. Finance, 3: 164-177.
CrossRef  |  Direct Link  |  

James, H., M. Martin, W. Ford, B.M. Greer, B. Cummings and D. Vetter, 2005. An analysis of working capital management results Am. J. Bus., 20: 11-18.
Direct Link  |  

Jose, M.L., C. Lancaster and J.L. Stevens, 1996. Corporate returns and cash conversion cycles. J. Econ. Finance, 20: 33-46.
CrossRef  |  

Lamberson, M., 1995. Changes in working capital of small firms in relation to changes in economic activity. Am. J. Bus., 10: 45-50.
Direct Link  |  

Lazaridis, J. and D. Tryfonidis, 2006. Relationship between working capital management and profitability of listed companies in the athens stock exchange. J. Financial Manage. Anal., 19: 26-35.
Direct Link  |  

National Baseline Survey, 1999. National micro and small enterprise baseline survey. Nairobi: ICEG and K-REP, pages: 113.

Ng, C.K., J.K. Smith and R.L. Smith, 1999. Evidence on the determinants of credit terms used in interfirm trade. J. Finance, 54: 1109-1129.
Direct Link  |  

Padachi, K., 2006. Trends in working capital management and its impact on firm's performance: An analysis of Mauritan small manufacturing firms. Int. Rev. Bus. Res. Pap., 2: 45-56.

Petersen, M.A. and R.G. Rajan, 1997. Trade credit: Theories and evidence. Rev. Financial Stud., 10: 661-691.
CrossRef  |  Direct Link  |  

Raheman, A. and M. Nasr, 2007. Working capital management and profitability-case of Pakistani firms. Int. Rev. Bus. Res. Papers, 3: 279-300.
Direct Link  |  

Shin, H.H. and L. Soenen, 1998. Efficiency of working capital management and corporate profitability. Finance Pract. Educ., 8: 37-45.
Direct Link  |  

Smith, K., 1980. Profitability Versus Liquidity Tradeoffs in Working Capital Management. In: Readings on the Management of Working Capital, Smith, K.V. (Ed.). St. Paul, MN, West Publishing Firm, USA., pp: 549-562.

Soenen, L.A., 1993. Cash conversion cycle and corporate profitability. J. Cash Manage., 13: 53-57.

Van Horne, J.C. and J.M. Wachowicz, 2005. Fundamentals of Financial Management. 11th Edn., Prentice Hall Inc., New York.

Wang, Y.J., 2002. Liquidity management, operating performance and corporate value: Evidence from Japan and Taiwan. J. Multinational Financial Manage., 12: 159-169.
CrossRef  |  Direct Link  |  

Williamson, O.E., 1975. Markets and Hierarchies, analysis and antitrust implications. Free Press, New York, USA., ISBN: 9780029353608, Pages: 286.

Williamson, O.E., 1985. The Economic Institutions of Capitalism. 1st Edn., Free Press, New York, USA., ISBN: 978-0684863740, Pages: 468.

Wilner, B.S., 2000. The exploitation of relationships in financial distress: The case of trade credit. J. Finance, 55: 153-178.
Direct Link  |