TY  - JOUR
AB  - Purpose The purpose of this paper is to empirically analyze and identify key factors affecting working capital behavior of companies listed on the Egyptian Stock Exchange.Design/methodology/approach Working capital requirement and cash conversion cycle were used to proxy working capital behavior. The study explored nine main factors widely discussed in previous research to explain working capital behavior: operating cash flow, growth opportunities, performance, firm value, age, size, leverage, economic conditions and industry type. The study employed a panel data analysis for 68 listed Egyptian industrial firms for the period 2000–2010. Different techniques of the generalized method of moments were used to test the validity of the research hypotheses.Findings The results show that working capital behavior is affected by various factors related to firm characteristics, economic conditions and industry type.Originality/value This study provides financial managers with a better understanding of the impact of different internal and macroeconomic factors on working capital behavior in an emerging market, such as Egypt’s.
VL  - 15
IS  - 1
SN  - 1743-9132
DO  - 10.1108/IJMF-09-2017-0219
UR  - https://doi.org/10.1108/IJMF-09-2017-0219
AU  - Moussa Amr Ahmed
PY  - 2019
Y1  - 2019/01/01
TI  - Determinants of working capital behavior: evidence from Egypt
T2  - International Journal of Managerial Finance
PB  - Emerald Publishing Limited
SP  - 39
EP  - 61
Y2  - 2024/04/19
ER  -