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| Author: | Howorth, C. Westhead, P. |
| Title: | The Focus of Working Capital Management in UK Small Firms |
| Journal: | Management Accounting Research
2003 : JUN, VOL. 14:2, p. 94-111 |
| Index terms: | MANAGEMENT ACCOUNTING WORKING CAPITAL SMALL BUSINESS UNITED KINGDOM |
| Language: | eng |
| Abstract: | Working capital management routines of a large random sample of small companies in the UK are examined. Considerable variability in the take-up of 11 working capital management routines was detected. Principal components analysis and cluster analysis confirm the identification of four distinct 'types' of companies with regard to patterns of working capital management. The first three 'types' of companies focused upon cash management, stock or debtors routines respectively, whilst the fourth 'type' were less likely to take-up any working capital management routines. Influences on the amount and focus of working capital management are discussed. Multinomial logistic regression analysis suggests that the selected independent variables successfully discriminated between the four 'types'. |
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