Open Access Article Macroeconomics

Sustainable Working Capital and Financial Performance in Cement Industry of Pakistan: An OLS Approach*

Authors

Ali Raza(1), Turgut Tursoy(2), Sadam Ali Balal(3)

  1. Near East University image/svg+xml
  2. Near East University image/svg+xml
  3. University of Sindh image/svg+xml

https://doi.org/10.36923/economa.v26i1.224

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Abstract

This research aims to demonstrate for the first time how the Pakistani cement sector's financial health is impacted by sustainable working capital. The cement Industry uses sustainable working capital techniques and practices for magnificent financial outcomes. Considering the importance of these profitable techniques, we practice these in cement firms with a sample size of 25 cement firms listed in the Pakistan stock market (PSX) from 1997-2022. The data is collected from annual reports available on the financial statements. The current ratio and Quick ratio are measured for liquidity. Ordinary Least Square & correlation analysis indicates that the cash conversion cycle (?1= -0.564, p= 0.00), Current ratio (?2= -0.20, p= 0.040), Quick ratio (?3= -0.585, p= 0.000) and Inventory Turnover ratio (?4= -0.244, p= 0.004) have a negative effect on financial performance (Tobin's Q). This study helps policymakers that can handle liquidity Sustainable working capital for the cement industry.

Article information

Keywords
Inventory ManagementCurrent ratioQuick ratioTobins' Q
Section
Articles
Issue
Vol. 26 No. 1 (2023)
Submitted
March 27, 2023
Published
July 14, 2023
Corresponding author
Ali Raza
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How to Cite

Raza, A., Tursoy, T., & Balal, S. A. . (2023). Sustainable Working Capital and Financial Performance in Cement Industry of Pakistan: An OLS Approach*. Innovation Economics Frontiers, 26(1), 1-10. https://doi.org/10.36923/economa.v26i1.224

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