Search or add a thesis

Advanced Search (Beta)
Home > Analyzing the Working Capital Management and Productivity Growth of Manufacturing Sector in Pakistan

Analyzing the Working Capital Management and Productivity Growth of Manufacturing Sector in Pakistan

Thesis Info

Access Option

External Link

Author

Raheman, Abdul

Supervisor

Arabab Ali Khan

Program

PhD

Institute

COMSATS University Islamabad

City

Islamabad

Province

Islamabad.

Country

Pakistan

Thesis Completing Year

2012

Thesis Completion Status

Completed

Subject

Management Sciences

Language

English

Link

http://prr.hec.gov.pk/jspui/handle/123456789/1921

Added

2021-02-17 19:49:13

Modified

2024-03-24 20:25:49

ARI ID

1676724508319

Asian Research Index Whatsapp Chanel
Asian Research Index Whatsapp Chanel

Join our Whatsapp Channel to get regular updates.

Similar


Working Capital Management and Productivity growth plays an important role in the performance and value creation of a firm. In order to analyze these two issues in detail for manufacturing firms of Pakistan, the objectives of the current study are to analyze sector-wise WCM and profitability of manufacturing sectors, to empirically analyze the impact of WCM on performance of manufacturing firms listed at Karachi Stock Exchange and also to estimate and compare this impact on sectoral basis, to estimate sector-wise total factor productivity growth and to decompose the TFP growth into technical change and efficiency change. The present study covers a period of 10 years from 1998 to 2007 for manufacturing firms listed at Karachi Stock Exchange (KSE). Secondary data is extracted from the annual reports of 204 selected firms belonging to 24 manufacturing sectors. The impact of WCM on performance of manufacturing firms and also on sectoral basis is tested by using panel data fixed effect model. Furthermore, TFP growth and its sources are estimated by Malmquist TFP Index based on non-parametric, Data Envelopment Analysis approach. Sector-wise WCM and profitability analysis have found divergence among sectors over study period. Oil & Gas Exploration & Refinery, Oil and Gas Marketing, Cement and Fertilizer sectors have the shorter CCC and NTC. All Textile sectors are among the laggard sectors in terms of WCM measures and operating profitability. In most cases, the CCC and NTC are driven by the inventory turnover of the firms. Regarding impact of WCM on performance of manufacturing firms we found that WCM has a significant impact on profitability of the firms and played a significant role in value creation for shareholders of manufacturing firms. The CCC, NTC and ITID have significant negative association with NOP. The negative association between ITID and NOP implies that keeping lesser inventories, increases profitability The negative association of ACP with NOP and positive association of APP with NOP are not proven in case of fixed effect model. It shows problem with the collection and payment policy in general for the manufacturing firms. The findings related to other variables of the model are presented in this research. Sector-wise impact analysis results of CCC model shows that the CCC has negative association with NOP for Automobile & Engineering, Chemical & Fertilizer and Textile sectors. Sector-wise negative impact of ACP on NOP is only proven for the Synthetic & Leather sector. Regarding sector-wise estimated results of inventory turnover model, there exist negative impact of ITID on NOP for Automobile, Cement, Sugar and Textile sector where inventory management policy can play a significant role in enhancing performance. Sector-wise results of APP model reveal that positive association with NOP is proven in case of chemical & Fertilizer and Auto & Engineering sectors. It implies that for these sectors lengthening the payment period increases profitability and it does make economic sense because longer a firm takes time to make payments to credit suppliers, the higher level of working capital it reserves and use to improve profitability. The significant negative impact of APP on the NOP for Sugar and Allied sector implies that less profitable firms wait longer to pay their bills. Analysis of TFPG and its components in Pakistan’s manufacturing sector finds that the TFP for the overall manufacturing sector declined by -0.3%. Managerial Efficiency improved by 1.2% while technical (technological) change deteriorates by - 1.5%. TFP and its components for manufacturing sector presents year-wise divergent trend and TFP declined in 5 out of nine years. TFP growth is mainly affected by technical change which is negative for nineteen out of twenty four sectors indicating that manufacturing sectors are lacking in terms of technological adoption. The Textile sectors are among the worst performers in terms of productivity growth over the study period mainly due to non-adoption of new technology. Other worst performers in terms of TFP growth are Power Gen. & Dist., Paper and Board, Tobacco and Vanaspati & Allied sectors. Year 2006-07 is the most crucial year for most of the sectors where TFP declined almost for all sectors. Finally the policy implications and future research are also highlighted towards the end of dissertation.
Loading...
Loading...

Similar Books

Loading...

Similar Chapters

Loading...

Similar News

Loading...

Similar Articles

Loading...

Similar Article Headings

Loading...

عقیدت محبت دی شاعری

عقیدت ومحبت دی شاعری

(رت،ریت تے ردا)

جگت دے رچے ساہت اُتے جھات پایے تاں اک حیرانی والا پکھ سامنے آؤندا اے کہ ہر ساہت دا مڈٖھلا ساہت تے وڈٖا بھنڈٖار دھرمی رنگن وچ رنگیا ملدا اے، ایس دا مکھ کارن کہ منکھی حیاتی دا کوئی پکھ وی دھرم دی ولگن توں باہر نئیں اے۔ دھرم جمن توں مرن تائیں ساہنوں ہر پکھ بارے کجھ نہ کجھ سکھاؤندا رہندا اے۔ دھرمی آگو جو پر چارک کم کردے نیں ، منکھ اوہناں وی حیاتی تے کم توں متاثروی ہوندا اے تے پریرینا وی لیندا اے۔ جے کر اوہناں دھرمی ہستیاں نے کوئی وڈا کم کیتا ہووے ، جو اتہاس وچ اج تئیں زندہ ہووے تاں ہر کوی تے لکھاری اوس نال اپنی عقیدت و محبت دا اظہار کرن لئی اوہناں دی شان وچ کجھ نہ کجھ لکھدا رہندا اے ۔ واقعہ کربلا اسلامی اتہاس دی اجیہی گھٹنا ہے، جس پوری منکھتا دی سوچ نوں متاثر کیتا ۔ ایس واقعہ توں بعد اسلام دھرم وچ کئی تحریکاں چلیاں تے کئی نویں خیالاں دا جنم ہویا ، ایہناں خیالاں نوں ظاہر کرن لئی کئی نویاں اصناف سخن دی سامنے آئیاں ، ہرنویں لکھاری تے کوی نے اپنے اپنے انداز وچ واقعہ کربلا دے شہیداں نوں بھرواں خراج عقیدت پیش کیتا۔ اجیہاکم کرن والیاں وچوں اک ناں ارشادڈیروی ہوراں داوی اے ، اوہناں اپنی عقیدت نوں بہت ای سوہنے ڈھنگ وچ سوہنے سرنانویں ’’رت، ریت رِدا‘‘ ہیٹھ پڑھن والے دے سامنے رکھیا لکھت دے سرنانویں وچ اک ادبی چاشنی موجودا اے ، جو پڑھن والے دی پوری توجہ اپنے ول کھچ دی اے۔ کربلا دی تتی ریت اتے ڈُلھن والے پوتر خون دی کہانی اکھاں سامنے آجاندی اے ۔ رِدا اسلامی رہتل دا اک شعار جس دی راکھی ہر سمے کیتے گئی تے کیتیی جاندی...

Pengaruh Komitmen dan Lingkungan Kerja Terhadap Produktivitas Kerja Karyawan Pada Paper Machine 6 PT. Indah Kiat Perawang

Penelitian ini bertujuan untuk mengetahui pengaruh komitmen dan lingkungan kerja terhadap produktivitas kerja karyawan pada Paper Machine 6 PT Indah Kiat Perawang.Populasi sebanyak 80 karyawan dan sekaligus menjadi responden. Data yang digunakan dalam penelitian ini adalah data primer dan alat analisis yang digunakan dalam penelitian ini adalah analisis regresi linear berganda dengan produktivitas kerja sebagai variabel dependen dan dua variabel independen yaitu variabel komitmen dan lingkungan kerja.Hasil penelitian ini menyatakan bahwa nilai koefisien determinasi sebesar 0,470, artinya hal ini menunjukkan bahwa Komitmen (X1) dan Lingkungan Kerja (X2) secara bersama-sama memberikan sumbangan terhadap Produtivitas Kerja sebesar 47%, dan sisanya (53%) dipengaruhi oleh faktor-faktor lain yang tidak terdapat dalam penelitian.

Exploring Students Transition Experiences from Primary School to Secondary School in a Government Secondary School of Karachi

The study aimed to explore the factors which facilitate or hinder students' transition from primary to secondary school. It was conducted in a Government Secondary School in Karachi, where students from feeder primary schools were given admission in grade six of the students' transition secondary school. Data was generated through two main methods. First, a small scale descriptive survey was self-administered with all the students of Grade Six. Second, in-depth interviews were taken of selected students, teachers, and head teacher. Observations were also undertaken of the school activities inside and outside the classroom. The data were systematically analyzed to identify emerging patterns and themes. Findings showed that the students' transition from primary school to secondary school is facilitated or hindered by factors in three main categories. These are: Physical factors (distance from home to school, school building and cleanliness, use of playground, water and washrooms facilities, and canteen facility); Social factors (friendship among the children, student-teacher relationship and students-head teacher relationship, school rules and notions of discipline leading to emotions such as fear); and academic factors (examinations patterns, weaknesses in reading and writing skills, changes in subjects and subject teachers, primary school examinations, grouping students on the basis of abilities). 1) Transition from primary to the secondary school is as a process and not a one off event; findings showed that process of transition continued, as students continue to observe and experience change due to physical, social including emotional and academic factors. 2) Transition is a complex and multi-dimensional because physical, various academic and social factors come together to affect the students' experiences in a complex and holistic manner. Moreover, issues emerge due to school policies such as admission to Grade Six of students with a wide range in academic development and age. The study raises several major issues and implications for policy and practice in teacher education and school heads.