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Working Capital and Financial Performance

Working Capital and Financial Performance is a research topic within Accounting. Science Explorer counts 16k research works in it since 1950. 10.1% of them reached the world's top 10% most cited for their field and year.

This cluster of papers explores the impact of working capital management, particularly trade credit, on the profitability and financial performance of firms, with a focus on small and medium-sized enterprises (SMEs). It delves into the dynamics of liquidity management, bank lending relationships, and the role of trade credit in addressing financial constraints within the context of supply chain finance.

  • Working Capital Management
  • Trade Credit
  • Profitability
  • Financial Performance
  • SMEs
  • Liquidity Management
  • Corporate Finance
  • Bank Lending
  • Financial Constraints
  • Supply Chain
Research works
16k
fractional, since 1950
In the world top 10%
1.7k
per year above
Top-10% rate
10.1%
share of its works in the world top 10%
Growth, 2018-21 → 2022-25
+31%
the tick is no change
Largest producer
Indonesia
38% of the 10 largest, 2022-now
Working Capital and Financial Performance

Which countries lead Working Capital and Financial Performance research?

By volume, Indonesia and India publish the most (1.7k and 588 works in 2022-now).

By volume, 2022-now

  1. 1 Indonesia 1.7k works
  2. 2 India 588 works
  3. 3 China 504 works
  4. 4 Nigeria 482 works
  5. 5 Türkiye 349 works
  6. 6 United States 293 works
  7. 7 Kenya 220 works
  8. 8 Pakistan 121 works
  9. 9 Vietnam 105 works
  10. 10 South Africa 105 works

How concentrated that is

The same countries as shares of everything the list above accounts for. A node where two countries do two thirds of the work and one spread evenly across twelve read alike as a ranking and not at all alike here.

Indonesia: 37.7%India: 13.3%China: 11.3%Nigeria: 10.8%6 others listed: 26.9%38%largest
Indonesia1,671 · 37.7%India588 · 13.3%China504 · 11.3%Nigeria482 · 10.8%6 others listed1,194 · 26.9%

Shares of the rows listed above, not of the whole node.

Which institutions lead Working Capital and Financial Performance research?

By volume in 2022-now, Tarumanagara University publishes the most Working Capital and Financial Performance research, followed by Universitas Patria Artha and Jomo Kenyatta University of Agriculture and Technology.

By volume, 2022-now

  1. 1 Tarumanagara UniversityIndonesia 70 works
  2. 2 Universitas Patria ArthaIndonesia 67 works
  3. 3 Jomo Kenyatta University of Agriculture and TechnologyKenya 62 works
  4. 4 Kenyatta UniversityKenya 49 works
  5. 5 Universitas TrisaktiIndonesia 41 works
  6. 6 Universitas PamulangIndonesia 39 works
  7. 7 Tribhuvan UniversityNepal 31 works
  8. 8 University of Pembangunan Nasional Veteran Jawa TimurIndonesia 28 works
  9. 9 Mercu Buana UniversityIndonesia 27 works
  10. 10 Government of Western AustraliaAustralia 27 works

Who are the leading researchers in Working Capital and Financial Performance?

The most-cited researchers publishing on Working Capital and Financial Performance include David F. Larcker and Huan Liu.

  1. 1 David F. Larcker United States 197k citations
  2. 2 Huan Liu Australia 148k citations

Ranked by citations received across their whole record, among researchers with at least three works on this topic.

What are the most cited papers in Working Capital and Financial Performance?

The most cited paper in Working Capital and Financial Performance is "Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500" (Rolph E. Anderson, David M. Reeb, 2003), with 5,213 citations. Next come "Corporate governance, chief executive officer compensation, and firm performance" (4,561) and "How do family ownership, control and management affect firm value?" (3,996).

Most cited papers
#PaperReleasedCitations
1 Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 Rolph E. Anderson, David M. Reeb · The Journal of Finance 6 May 2003 5,213
2 Corporate governance, chief executive officer compensation, and firm performance John E. Core, Robert W. Holthausen, David F. Larcker · Journal of Financial Economics Open access Mar 1999 4,561
3 How do family ownership, control and management affect firm value? Belén Villalonga, Raphael H Amit · Journal of Financial Economics 3 Nov 2005 3,996
4 The Effect of Credit Market Competition on Lending Relationships Mitchell A. Petersen, Raghuram G. Rajan · The Quarterly Journal of Economics Open access May 1995 3,406
5 Small and medium-size enterprises: Access to finance as a growth constraint Thorsten Beck, Asli Demirgüç‐Kunt · Journal of Banking & Finance 4 Jul 2006 2,629
All 100 most cited papers, with filters and sorting

Where is Working Capital and Financial Performance research done?

The largest centres of Working Capital and Financial Performance research in 2022-now are Jakarta (Indonesia), Nairobi (Kenya), Makassar (Indonesia) and Bandung (Indonesia). Among places with at least 20 works in it, it is an unusually large share of all research in Kaduna and Nairobi.

Largest cities, 2022-now

  1. 1 JakartaIndonesia 317 works
  2. 2 NairobiKenya 144 works
  3. 3 MakassarIndonesia 123 works
  4. 4 BandungIndonesia 120 works
  5. 5 SurabayaIndonesia 110 works
  6. 6 MedanIndonesia 94 works
  7. 7 BeijingChina 83 works
  8. 8 SemarangIndonesia 64 works
  9. 9 MalangIndonesia 61 works
  10. 10 TangerangIndonesia 57 works

Where it is the local speciality

  1. KadunaNG · 28.7 works38×
  2. NairobiKE · 143.8 works28×
← less than its size predicts1×more →

Location quotient: how much more of its research is in Working Capital and Financial Performance than the world average.

See Working Capital and Financial Performance on the map

Where is the best place to study Working Capital and Financial Performance?

Among universities, judged by research, Renmin University of China, Central University of Finance and Economics and Southwestern University of Finance and Economics score highest, combining excellence, specialisation, size, growth and international reach. Research strength is one signal when choosing where to study; it does not measure teaching.

0%20%40%mean 17.48%fractional works in this field (log) →share of work in the world top 10% →Renmin University of…Central University o…Dongbei University o…Southwestern Univers…
above the meannear itbelow it

One dot per university in the first ten of the table below, at the default weights. The upper left is the interesting corner: small places doing unusually strong work.

Excellenceshare of its work in the world top 10%, 2022-now and all time averaged
40%
Specialisationhow much of its work is in this field, counted up to 10× the world share
10%
Sizeits output in this field, on a log scale
30%
Growthoutput growth, counted from -20% to +20%
10%
Internationalshare of its work with a co-author abroad
10%
Each slider sets a weight; the share it gets of the score is beside it.
#UniversityScoreTop 10%SpecialisationWorksGrowth
1Renmin University of ChinaChina 62.542.4%5.4×10 +68.0%
2Central University of Finance and EconomicsChina 54.930.1%13.3×8 +188.8%
3Southwestern University of Finance and EconomicsChina 54.025.0%14.4×11 +144.7%
4Dongbei University of Finance and EconomicsChina 53.325.4%32.6×11 +37.6%
5Kenyatta UniversityKenya 52.96.3%65.9×49 +86.1%
6Universitas Patria ArthaIndonesia 52.53.0%15.7×66 +52.4%
7Symbiosis International UniversityIndia 51.418.4%8.9×16 +243.1%
8Tarumanagara UniversityIndonesia 51.30.6%24.6×70 +95.1%
9Technical University of MombasaKenya 46.821.6%120.6×10 +883.3%
10Universitas TrisaktiIndonesia 46.72.0%18.0×41 +157.5%

Universities only. The score blends excellence (40%), size (30%), specialisation (10%), growth (10%), international reach (10%), 2022-now; growth compares 2018-21 with 2022-25 and counts up to +20%, since a jump from a small base is mostly noise.

Every institution in Working Capital and Financial Performance, country by country

Is Working Capital and Financial Performance research growing?

Output in 2022-2025 was 31% higher than in 2018-2021, peaking in 2025. The fastest-growing topics are Working Capital and Financial Performance.

still counting19801990200020102020
grewheldshrank

The same series as a ribbon: one cell per year, darker for more. The line above answers how much; this answers when.

Its share of all research

Growing output can still be a shrinking share: all of science grows. This is Working Capital and Financial Performance as a percentage of every work published that year, 0.025% in 2024.

still counting0.010%0.020%0.030%Working Capital and Financial Performance0.026% in 202519801990200020102020

Fractional works of Working Capital and Financial Performance over all fractional works that year. How the balance of science has shifted.

How much of it reaches the world top 10%

Year by year.

still counting5%10%15%Working Capital and Financial Performance10.5% in 2025200020102020

Of each year's works in it, the share that reached the world's 10% most cited for their field and year. A field is the world for its own topics, so there is no other line to hold it against.

Which topics inside it are moving

Growth and decline on one axis around a shared zero. Two lists side by side hide the thing that matters: whether the growth dwarfs the decline, or the other way round.

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