Most cited papers in Working Capital and Financial Performance
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).
Showing 50 of 100 papers. Every paper with more than 539 citations is listed.
| # | Paper | ||
|---|---|---|---|
| 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 | 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 | 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 |
| 6 | Meta-analytic reviews of board composition, leadership structure, and financial performance Dan R. Dalton, Catherine M. Daily, Alan E. Ellstrand et al. · Strategic Management Journal | Mar 1998 | 2,278 |
| 7 | Larger board size and decreasing firm value in small firms Theodore A. Eisenberg, Stefan Sundgren, Martin T. Wells · Journal of Financial Economics | Apr 1998 | 2,260 |
| 8 | Board meeting frequency and firm performance Nikos Vafeas · Journal of Financial Economics | Jul 1999 | 2,120 |
| 9 | A more complete conceptual framework for SME finance Allen N. Berger, Gregory F. Udell · Journal of Banking & Finance | 8 Jul 2006 | 2,026 |
| 10 | Small Business Credit Availability and Relationship Lending: The Importance of Bank Organisational Structure Allen N. Berger, Gregory F. Udell · The Economic Journal | Feb 2002 | 1,936 |
| 11 | Does Working Capital Management Affect Profitability of Belgian Firms? Marc Deloof · Journal of Business Finance & Accounting | Apr 2003 | 1,834 |
| 12 | The impact of COVID-19 on small business outcomes and expectations Alexander W. Bartik, Marianne Bertrand, Zoë Natalia Cullen et al. · Proceedings of the National Academy of Sciences | 10 Jul 2020 | 1,645 |
| 13 | The effect of capital structure on a firm's liquidation decision Sheridan D. Titman · Journal of Financial Economics | Mar 1984 | 1,570 |
| 14 | Financial Distress and Corporate Performance Tim C. Opler, Sheridan D. Titman · The Journal of Finance | Jul 1994 | 1,567 |
| 15 | A cross-firm analysis of the impact of corporate governance on the East Asian financial crisis Todd Mitton · Journal of Financial Economics | May 2002 | 1,558 |
| 16 | Estimating the performance effects of business groups in emerging markets Tarun Khanna, Jan W. Rivkin · Strategic Management Journal | 2000 | 1,499 |
| 17 | Dividends, Share Repurchases, and the Substitution Hypothesis Gustavo Grullon, Roni Michaely · The Journal of Finance | Aug 2002 | 1,449 |
| 18 | The Role of Family in Family Firms Marianne Bertrand, Antoinette Schoar · The Journal of Economic Perspectives | May 2006 | 1,443 |
| 19 | Financing patterns around the world: Are small firms different?☆ Thorsten Beck, Asli Demirgüç‐Kunt, Vojislav Maksimovic · Journal of Financial Economics | 17 Jul 2008 | 1,392 |
| 20 | The effects of management buyouts on operating performance and value Steven Neil Kaplan · Journal of Financial Economics | 1989 | 1,365 |
| 21 | The Determinants of Corporate Liquidity: Theory and Evidence Changsoo Kim, David C. Mauer, Ann E. Sherman · Journal of Financial and Quantitative Analysis | Sep 1998 | 1,296 |
| 22 | CEO duality and organizational performance: A longitudinal analysis Paula L. Rechner, Dan R. Dalton · Strategic Management Journal | Feb 1991 | 1,283 |
| 23 | Comparing the Agency Costs of Family and Non–Family Firms: Conceptual Issues and Exploratory Evidence James J. Chrisman, Jess H. Chua, Reginald A. Litz · Entrepreneurship Theory and Practice | 14 May 2004 | 1,199 |
| 24 | Entrepreneurship and Bank Credit Availability Sandra E. Black, Philip E. Strahan · The Journal of Finance | Dec 2002 | 1,179 |
| 25 | Corporate Governance Structure and Performance of Malaysian Listed Companies Roszaini Haniffa, Mohammad Hudaib · Journal of Business Finance & Accounting | 24 Mar 2006 | 1,133 |
| 26 | Ownership structure, investment, and the corporate value: An empirical analysis Myeonghyeon Cho · Journal of Financial Economics | 1998 | 1,091 |
| 27 | Trade Credit, Financial Intermediary Development, and Industry Growth Raymond J. Fisman, Inessa Love · The Journal of Finance | Feb 2003 | 1,066 |
| 28 | Effects of working capital management on SME profitability Pedro J. García‐Teruel, Pedro Martínez Solano · International Journal of Managerial Finance | 2 Apr 2007 | 1,008 |
| 29 | Trade Credit: Suppliers as Debt Collectors and Insurance Providers Vicente Cuñat · Review of Financial Studies | Jul 2006 | 1,003 |
| 30 | Trade Credit and Credit Rationing Bruno Biais, Christian Gollier · Review of Financial Studies | Oct 1997 | 1,003 |
| 31 | In-Kind Finance: A Theory of Trade Credit Mike C. Burkart, Tore Ellingsen · American Economic Review | May 2004 | 993 |
| 32 | The effect of capital structure on profitability: an empirical analysis of listed firms in Ghana Joshua Yindenaba Abor · The Journal of Risk Finance | Dec 2005 | 963 |
| 33 | The determinants of financing obstacles Thorsten Beck, Asli Demirgüç‐Kunt, Luc A. Laeven et al. · Journal of International Money and Finance | 7 Aug 2006 | 956 |
| 34 | Interfirm Relationships and Informal Credit in Vietnam John McMillan, Christopher Woodruff · The Quarterly Journal of Economics | Nov 1999 | 945 |
| 35 | Board Structure and Firm Performance: Evidence from India's Top Companies Beverley Jackling, Shireenjit Kaur Johl · Corporate Governance An International Review | Jul 2009 | 941 |
| 36 | Machine learning models and bankruptcy prediction Flávio Barboza, Herbert Kimura, Edward I. Altman · Expert Systems with Applications | 10 Apr 2017 | 938 |
| 37 | Corporate governance and firm profitability: evidence from Korea before the economic crisis Sung Wook Joh · Journal of Financial Economics | 23 Apr 2003 | 911 |
| 38 | Liquidity - profitability tradeoff: An empirical investigation in an emerging market Abuzar M. A. Eljelly · International Journal of Commerce and Management | 31 May 2004 | 907 |
| 39 | What You Sell Is What You Lend? Explaining Trade Credit Contracts Mariassunta Giannetti, Mike C. Burkart, Tore Ellingsen · Review of Financial Studies | 24 Nov 2008 | 899 |
| 40 | Customer concentration risk and the cost of equity capital Dan S. Dhaliwal, J. Scott Judd, Matthew A. Serfling et al. · Journal of Accounting and Economics | 5 Apr 2015 | 896 |
| 41 | Evidence on the Determinants of Credit Terms Used in Interfirm Trade Chee K. Ng, Janet Kiholm Smith, Richard L. Smith · The Journal of Finance | Jun 1999 | 871 |
| 42 | Capital structure, equity ownership and firm performance Dimitris Margaritis, Maria Psillaki · Journal of Banking & Finance | 2 Sep 2009 | 871 |
| 43 | Determinants of capital structure of Chinese-listed companies Jean Jinghan Chen · Journal of Business Research | 27 May 2003 | 857 |
| 44 | Country-level institutions, firm value, and the role of corporate social responsibility initiatives Sadok El Ghoul, Omrane Guedhami, Yongtae Kim · Journal of International Business Studies | 3 Mar 2016 | 840 |
| 45 | CEO compensation, director compensation, and firm performance: Evidence of cronyism? Ivan E. Brick, Oded Palmon, John K. Wald · Journal of Corporate Finance | 22 Sep 2005 | 839 |
| 46 | The dynamics of micro and small enterprises in developing countries Donald C. Mead, Carl E. Liedholm · World Development | 1998 | 839 |
| 47 | Corporate payout policy and managerial stock incentives George W. Fenn, Nellie Liang · Journal of Financial Economics | Apr 2001 | 839 |
| 48 | Relationship Lending and Lines of Credit in Small Firm Finance Allen N. Berger, Gregory F. Udell · The Journal of Business | 1995 | 829 |
| 49 | Lending relationships in Germany – Empirical evidence from survey data Dietmar Harhoff, Timm Körting · Journal of Banking & Finance | Oct 1998 | 823 |
| 50 | The impact of board size on firm performance: evidence from the UK Paul M. Guest · European Journal of Finance | 5 Nov 2008 | 816 |
Citations are OpenAlex's own counts, from its 2026-09-23 snapshot, so the ranking can differ from Google Scholar or Web of Science. A paper is listed for a field when OpenAlex files it under one of the field's topics; retracted papers and papers whose citation count cannot be traced to citing works are left out, and a preprint and the article it became are shown once. Release dates are OpenAlex's: where a source gave only a month or a year, that is what is shown. How the lists are chosen.