摘要：This study examined and measured the impact of working capital management (WCP) on the performance of companies listed on the Stock Exchange of Vietnam in the emerging market context. A panel data is collected from audited financial statements of 70 companies in the Utilities, Industry, Consumer Goods, Consumer Appliances and Materials industries over 4 years from 2016 to 2019. With the help of dedicated statistical software Stata and multiple regression analysis, the results showed factors that reflect working capital management such as Days Sales Outstanding (DSO), Days Inventory Outstanding (DIO), Days Payable Outstanding (DPO), Cash Conversion Cycle (CCC) is negatively related to performance. This research result is completely consistent with most previous studies. However, in contrast to previous studies, we have found that CCC, DSO have a stronger negative impact on business performance than DIO and DPO. Our findings have relevant implications in emerging markets.
关键词：Cash Conversion Cycle;Corporate Performance;Days Inventory Outstanding;Days Payable Outstanding;Days Sales Outstanding;Return On Assets;Working Capital Management
