WORKING CAPITAL MANAGEMENT: CONCEPTS AND STRATEGIES

Working capital refers to the money that a company uses to finance its daily operations. Proper management of working capital is critical to financial health and operational success. Working capital management (WCM) aims to maximize operational efficiency by maintaining a delicate balance among growth, profitability, and liquidity. WCM is a continuous responsibility focusing on a firm's day-to-day operations involving short-term assets and liabilities. By efficiently managing a firm's cash, accounts receivable, inventories, and accounts payable, managers can help maintain smooth operations and improve a company's earnings and profitability. By contrast, poor WCM could lead to a lower credit score, financial insolvency, legal troubles, liquidation of assets, and potential bankruptcy. This book provides an objective look into the dynamic world of WCM. Its coverage extends from discussing basic concepts and their applications to increasingly complex and real-world situations. The book stresses that WCM is a combination of both art and science. This volume spans the gamut from theoretical to practical while offering the right balance of detailed and user-friendly coverage. Readers can gain an in-depth understanding of this subject from experts in this field. Those who want a broad survey will benefit, as will readers looking for more in-depth presentations of specific areas within this field of study. In summary, Working Capital Management: Concepts and Strategies provides a fresh look at this intriguing but often complex subject of WCM. Contents: Foundations of Working Capital Management: Working Capital Management: An Overview (H Kent Baker, Greg Filbeck, and Tom Barkley) Determinants of Working Capital Management (Pradip Banerjee and Shantanu Dutta) Characteristics of Working Capital Management Strategies (Meghna Ghosh, Kerem Proulx, Sayan Sarkar, and Andrew C Spieler) Working Capital Measures and Metrics (Christopher J Barnes, Gaurav Gupta, and Andrew C Spieler) Impact of Working Capital Management on Firm Profitability and Performance (Halil Kiymaz) Cash Management: Cash Management and Models (Grzegorz Michalski) Cash Forecasting (Muris Hadzic) Investing Surplus Cash and Short-Term Borrowing (Benjamin Aguilar, Michael Pain, and Andrew C Spieler) Cash Management and Fraud Prevention (Octavian Ionici and Casey Evans) Managing Banking Relationships (Tony Calenda) Other Aspects of Working Capital Management: Accounts Receivable Management (Hunter Holzhauer) Inventory Management (Grzegorz Michalski) Accounts Payable Management (David A Burnie and Adri de Ridder) Linkages Across Firms in the Supply Chain (Ozgur S Ince) Payment Processing (Kelly E Carter) Special Topics in Working Capital Management: Industry Differences in Working Capital Management (Robert Karpowicz, Patrick J Griffin, and Andrew C Spieler) Working Capital Management in Developing Countries (Satish Kumar and Harsh Pratap Singh) Working Capital Management in an International Context (Halil Kiymaz, Samina Haque, and Ahmed Abir Choudhury) Information Technology and Working Capital Management (Svetlana Petrova) Enterprise Risk Management (Maximillian Hill, Kristin Kalish, and Joseph Monts) Trends in Working Capital Management (Dianna Preece) Readership: Academics, researchers, and practioners in corporate finance. Key Features: The book examines the core principles and techniques of effectively managing working capital. It skillfully blends an array of scholars' and practitioners' contributions into a single review of essential topics in this area. The varied backgrounds of the contributors assure different perspectives and a rich interplay of ideas. The book also reflects the latest trends and research globally and discusses controversial issues and the future outlook for this field While retaining the content and perspectives of the many contributors, Working Capital Management: Concepts and Strategies follows an internally consistent approach in format and...