Corporate governance, working capital management, and firm performance: Some new insights from agency theory

Naz M. A., Ali R., Rehman R. U., NTIM C.

Managerial and Decision Economics, vol.43, no.5, pp.1448-1461, 2022 (SSCI, Scopus) identifier

  • Nəşrin Növü: Article / Article
  • Cild: 43 Say: 5
  • Nəşr tarixi: 2022
  • Doi nömrəsi: 10.1002/mde.3466
  • jurnalın adı: Managerial and Decision Economics
  • Jurnalın baxıldığı indekslər: Social Sciences Citation Index (SSCI), Scopus, International Bibliography of Social Sciences, Periodicals Index Online, ABI/INFORM, Aerospace Database, Business Source Elite, Business Source Premier, Communication Abstracts, EconLit, Metadex, Psycinfo, Public Affairs Index, Civil Engineering Abstracts
  • Səhifə sayı: pp.1448-1461
  • Açıq Arxiv Kolleksiyası: Məqalə
  • Adres: Bəli

Qısa məlumat

The role of corporate governance in performance of firms has been widely discussed in the extant literature. In contrast to examining direct relationships, this study investigates the mediating role of working capital management within these connections. Employing a large sample of nonfinancial firms listed on Pakistan Stock Exchange from 2009 to 2018, findings suggest that a corporate governance quality index and efficiency of working capital management are positively related to firm performance. Additionally, the results indicate that working capital management partially mediates the relationship between corporate governance and firm performance. These findings extend existing literature by offering new empirical and theoretical insights.