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.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 style. Like a choir that contains many voices, this book has many contributing authors with their separate voices. A goal of both a choir and this book is to have the many voices sing together harmoniously. Accomplishing this task for the book requires skilled editing by the co-editors to ensure a seamless flow when moving from chapter to chapter. Hence, the book is much more than a compilation of chapters from various authorsThe book presents theory without unnecessary abstraction, quantitative techniques using basic mathematics, and conventions at a practical level of detail. It also contains numerous examples to illustrate concepts and techniquesWorking Capital Management: Concepts and Strategies strongly emphasizes empirical evidence involving WCM. When discussing the results of various studies, the objective is to distill them into their essential content and practical implications so they are understandable to many readersEach chapter contains four to six discussion questions that help to reinforce key concepts. The end of the book provides guideline answers to each question. This feature should be helpful to faculty and students using the book in classesThe book provides a glossary of key terms in WCM

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