摘要：The paper seeks to extend Lazaridis and Tryfonidis'sfindings regarding the relationship between working capital m anagement and profitability. Asample of 88 American firms listed on New York Stock Exchange fora period of 3 years from 2005 to2007was selected. We found statisticallysignificantrelationship between the cash conversion cycle and profitability, measured through gross operating profit. It follows that managers can create profits for their companies by handling correctly the cash conversion cycle and by keeping accounts receivables at an optimal level.Thestudy contributes to the literature on the rela tionship between the working capita l management and the firm's profitability
