This paper investigates the relationship between working capital management, corporate performance and operating cash flow. The relationship is examined using dynamic panel data analysis. The analysis based on a sample of 5802 U.S. non-financial firms listed in the New York Stock Exchange,...

Although the operating cycle, the cash conversion cycle, and the net trade cycle are more comprehensive measures of working capital management compared with traditional measures such as the current ratio and the quick ratio, these measures do not consider the optimal points of payables,...