Working capital management and corporate performance： Case of Malaysia

Working capital always being disregard in financial decision making since it involve investment and financing in short term period. However, it is an important component in firm financial management decision. An optimal working capital management is expected to contribute positively to the creation of firm value. To reach optimal working capital management firm manager should control the trade off between profitability and liquidity accurately. The intention of this study is to examine the relationship between working capital management and firm profitability. Cash conversion cycle is used as measure of working capital management. This study is used panel data of 1628 firm-year for the period of 1996-2006 that consist of six different economic sectors which are listed in Bursa Malaysia. The coefficient results of Pooled OLS regression analysis provide a strong negative significant relationship between cash conversion cycle and firm profitability. This reveals that reducing cash conversion period results to profitability increase. Thus, in purpose to create shareholder value, firm manager should concern on shorten of cash conversion cycle till optimal level is achieved.

Research on Management Mode of Small-scale Irrigation Works for Farmland Based on Self-governance

The paper analyzes the practical use of management mode of small-scale farmland irrigation works in China,and studies various problems existing in the present management mode.It puts forward a mode named Water-consumer Association which is the most practical one at present.It points out some rules which must be mastered in solving problems appearing in using this mode.

The impact of working capital management on credit rating

This study investigates the possible nonlinear relationship between working capital and credit rating.Furthermore,it examines the relationship between the three components of working capital(inventory,accounts receivable,and accounts payable)and a firm’s credit rating.Employing data for U.S listed firms for the period between 1985 and 2017,the results of our ordered probit model show a nonlinear relationship between working capital and its components and credit rating.Finally,we find that the deviation from the optimal working capital adversely affects the credit rating.The results of this study are of significant importance for policy makers,managers,decision makers,and credit-rating agencies,as they help highlight the importance of working capital management for a firm’s credit rating.

Working Capital Management and Firms’ Profitability: Evidence from Quoted Firms on the Nigerian Stock Exchange

Over the years, it appeared that firms failed to subject short-term investments to proper management thereby leading to either excessive or inadequate working capital which in turn affected their profitability. To empirically satisfy this, this paper examined working capital management and firms’ profitability in Nigeria quoted firms on Nigerian Stock Exchange (NSE). A panel data methodology was used with different regression estimators to analyze this relationship based on a balanced panel of 10 listed firms during the period 2008-2017. It was discovered that cash collection period and cash payment period exerted a negative impact on return on assets, though the impact was only significant for cash payment period on the ground of −0.064 (p = 0.000 −0.032 (p = 0.077 > 0.05). Also discovered was that both the current ratio and inventory period exerted a positive impact on return on assets, though the impact was only significant for current ratio on the ground of 8.172 (p = 0.000 0.05). The study concluded that working capital management affected firms’ profitability in Nigeria. Therefore it was recommended that while the shorter collection was maintained, payment to creditors should not be elongated so as to enjoy cash discount (if any) and that firms should be proactive in the management of raw materials in order to avoid idle resources that might negatively impact their financial performance.

Relationship Between Working Capital Management and Profitability in Turkey Industrial Listed Companies

The present study investigated the effect of working capital management component on corporate profitability. A sample of 106 firms listed on Borsa Istanbul Stock Exchange （BIST） for the period of 2003-2013 was used. The secondary data for analysis were taken from Bloomberg＇s Database. The present study aims to explore the effect of working capital management components on corporate profitability. We observed that there was a negative correlation between gross operating profit and accounts receivables （A/R）. We also found that there was a positive correlation between gross operating profit and number of days inventory. But they did not affect the profitability of firms in the study at a significant level.

The Influence of Spiritual Values on Work Motivation, Management Control, and Quality of Financial Information on IFIs in Indonesia

This study aims to investigate the influence of spiritual values on work motivation, management control, and the quality of financial information on Islamic financial institutions （IFIs） in Indonesia. Spiritual values are measured using four reflexive indicators, namely, Shiddiq, Fathanah, Amanah, and Tabligh. Work motivation is formed by four formative indicators, namely, compensation, recognition, work experience, and openness. Management control variable is formed by four formative indicators, namely, planning, implementing, evaluating, and monitoring, and finally, the quality of financial information is manifested in four reflexive variables, namely, relevant, comparable, understandable, and consistent. Data are collected through questionnaires with 125 respondents as samples from three types of IFIs, such as Islamic banking, Islamic pawnshop, and Islamic insurance in Indonesia. Methods of data analysis include the use of partial least squares （PLS） to analyze the influence of spiritual values on work motivation, management control, and quality of financial information. The results of this study showed that the manifestation of spiritual values in IFIs is able to influence the quality of financial information through the media as motivation and management control, but directly spiritual values are not able to influence the quality of financial information. While work motivation and management control significantly influence the quality of financial information.

The Relationship Between Working Capital Management and Profitability of Companies Listed on the Johannesburg Stock Exchange

Efficient working capital management is an integral component of the overall corporate strategy to create shareholders＇ wealth. This paper seeks to extend findings regarding the relationship between working capital management and profitability. A sample of 69 companies listed on the Johannesburg Stock Exchange （JSE） for the period from 1998 to 2008 was selected. The results revealed a statistically significant negative relationship among profitability （as measured through gross operating profit）, the cash conversion cycle （CCC）, and number of days accounts receivable （AR）. The results also revealed a positive and significant relationship among profitability, the number of days accounts payable （AP）, and the number of days inventory （INV）. The results suggested that managers could increase their company＇s profitability by effectively managing the CCC and its components.

Research and Design of IPv6 Network Management and Operations Support System

IPv6 is the foundation of the development of Next Generation Internet (NGI). An IPv6 network management and operations support system is necessary for real operable NGI. Presently there are no approved standards yet and relevant equipment interfaces are not perfect. A Network Management System (NMS) at the network layer helps implement the integrated management of a network with equipment from multiple vendors, including the network resources and topology, end-to-end network performance, network failures and customer Service Level Agreement (SLA) management. Though the NMS will finally realize pure IPv6 network management, it must be accommodated to the management of relevant IPv4 equipment. Therefore, modularized and layered structure is adopted for the NMS in order to implement its smooth transition.

The research of enterprise knowledge workers＇ active work stress management

With the advent of the knowledge economy era, the modem enterprise desires to maintain sustainable development, the key is to find the best ways of knowledge creation, dissemination and use through the management. Knowledge workers are the main force of economic construction. They play a more important role in the development of enterprises and society, while facing greater pressure. This paper describes the status of work stress management study in China and abroad. Then analyze the source of the knowledge workers working pressure and Working pressure mechanism on job performance. Eventually, the paper proposes active management strategies of enterprise knowledge workers working stress.

Problems and Countermeasures of Working Capital Management in Company V

Working capital is the premise for the production and operation of an enterprise and the basis for all financial management.The management of working capital has gained more attention by enterprises.The purpose of emphasizing the importance of working capital management is to enable enterprises to make full and efficient use of capital.There is a serious shortage of working capital in China's home appliance manufacturing industry,and with the rapid development of home appliance manufacturing industry,the problem is becoming increasingly prominent.Therefore,improving the management level of working capital,optimizing the structure of capital,and improving the efficiency of working capital should become the most important part in the process of daily production and operation.This article selects company V as the research subject as it has representative problems in working capital management.Drawing on the theoretical method of taking elements as the core,this article focuses on the analysis of each working capital project and the development status of the company as a whole,determmes the problems in the aspects of current assets and infbnnation communication in regard to the working capital management of company V as well as puts forward several suggestions in terms of current assets management.In order to improve the working capital management level of company V9 we hope that the improvement suggestions derived from the combination of theory and practical analysis can provide some reference for other enterprises in the household appliance manufacturing industry.

A Blockchain-Based Life-Cycle Environmental Management Framework for Hospitals in the COVID-19 Context

During the coronavirus disease 2019 (COVID-19) emergency, many hospitals were built or renovated around the world to meet the challenges posed by the rising number of infected cases. Environmental management in the hospital life cycle is vital in preventing nosocomial infection and includes many infection control procedures. In certain urgent situations, a hospital must be completed quickly, and work process approval and supervision must therefore be accelerated. Thus, many works cannot be checked in detail. This results in a lack of work liability control and increases the difficulty of ensuring the fulfillment of key infection prevention measures. This study investigates how blockchain technology can transform the work quality inspection workflow to assist in nosocomial infection control under a fast delivery requirement. A blockchain-based life-cycle environmental management framework is proposed to track the fulfillment of crucial infection control measures in the design, construction, and operation stages of hospitals. The proposed framework allows for work quality checking after the work is completed, when some work cannot be checked on time. Illustrative use cases are selected to demonstrate the capabilities of the developed solution. This study provides new insights into applying blockchain technology to address the challenge of environmental management brought by rapid delivery requirements.

The Use of Group Work in ESL Classrooms- Discourse Features and Implications

Group work has many advantages from language acquisition point of view. However, some teachers are unwilling to introduce group work in their own classroom because group work is very difficult to manage. The author of this essay explores the discourse features of successful and unsuccessful group work using discourse analysis in the hope that the results of this language classroom research can help language teachers gain some insight into the use of group work and make more informed decisions about group work management.

Using sequential analysis procedures to rank the influencing factors of public work’s quality

In order to improve the efficiency in management of public work projects, screening and controlling influencing factors affecting the quality of a public work project is essential. This study synthesized 9 influential categories including 91 factors related to quality management of public works in Taiwan using a sequential analysis procedure. According to the Borda-values of influencing factors obtained from a first stage questionnaire, the number of primary factors selected by the re-sponsible entities and the design-supervisory entities were 44 and 45 respectively. A Fuzzy Analytic Hierarchy Process (FAHP) was used to prioritize and rank these factors. The top five factors ranked by the responsible entities were (1) introduction of the earned value analysis, (2) working efficiency, (3) environmental laws and regulations, (4) price-index fluctuation, and (5) on-site safety management. The top five factors ranked by the design-supervisory entities were (1) man power, (2) laws and regulations, (3) price-index fluctuation, (4) traffic conditions, and (5) faulty design.

A Method to Solve PBL Issues and to Improve Project Management Competencies of Students

It is generally accepted that Project-Based Learning(PBL)is very valuable in preparing students to become working members of society.However,some issues have been recognized with PBL such as:(1)some students lack an active attitude or ride on the coattails of their teammates in their PBL team work;(2)a range of achievement levels among project teams;(3)spending most of their time to discuss the objective and the goal;and(4)not well managed as a project.Integrated Scheduling Method(IScM)and the associated tool called Deliverables Dependency Matrix(DDM)have been proposed to create a highly feasible project schedule for a product development.It was noticed that they might have the potential to resolve these PBL issues because the schedule creation is a core part of project management and includes most of all factors to manage PBL as a project.Two trials of the application with Modified-IScM(M-IScM)and DDM to PBL courses have been conducted.The first trial was intended to evaluate if M-IScM and DDM could resolve the PBL issues.A lecture prior to the second PBL with some findings from the first trial was given to students to improve their project management competencies.As a result,it was confirmed that M-IScM and DDM had the potential to resolve the PBL issues and revealed that PBL had two internal project types,the Goal Search Project and the Goal Oriented Project with the associated work processes and methods.Furthermore,the Goal Oriented Project could be divided into the Development Project and the Value Creation Project.Understanding and utilizing these project types will improve the competencies of students regarding project management to produce a good outcome in PBL,and help develop the leadership and fundamental skills to be a capable business person.

Implementation of a Return to Work Strategy in Germany—Are There Changes in Work-Related Rehabilitation Measures and Employment Status in Chronic Conditions?

Objectives: Aging workforces with increasing numbers of chronic conditions require health initiatives with greater workplace focus. A regional pension insurance introduced a Return To Work (RTW) strategy for insurants with chronic conditions. The objective was to identify the degree of implementation of work related measures in medical rehabilitation and the extent of RTW outcomes. Methods: 5883 insurants were considered. Severe Restriction of Work Ability (SRWA), Work-related Medical Rehabilitation (WMR), and Case Management (CM) were examined for 2008 and 2012. An Index of Employment status (IoE) was used in a logistic regression. Results: Utilization of WMR raised from 12.3% in 2008 to 66.1% in 2012. The proportion of insurants with SRWA and WMR grew from 8% up to 40.1%. In 2008, 14.7% of insurants with SRWA received WMR;in 2012, it grew to 76.6%. On the other hand, in 2012 26% got WMR without SRWA and 12.2% had SRWA and got no WMR. CM was not conducted in 2008 but reached 20.2% in 2012. Across all indications, WMR resulted in positive RTW as measured by IoE: OR = 0.75 (KI-95%: 0.67 - 0.86). Conclusion: WMR was successfully implemented according to the German guideline. There is a need to optimize the linkage between SRWA and WMR and CM to provide need-based care.

Organizational Environment and Work Satisfaction of the Employees of Hitachi Chemical Montemorelos Nuevo Leon México

This study seeks to answer one question： The quality level of organizational environment. Is it an indicator of the workplace satisfaction level, according to the perception of Hitachi Chemical employees in Montemorelos, Nuevo León, México？ This study＇s design is both explanatory and cross-sectional. The sample size was composed of 143 Hitachi Chemical employees of Montemorelos, Nuevo León, México. For the data collection, two instruments were used： the first instrument was used to measure the quality of organizational climate and the second was focused on measuring the workplace satisfaction level. As a result, the level of organizational climate quality is in fact a predictor of workplace satisfaction of Hitachi Chemical employees. After the regression analysis, it was found that the variable, level of organizational climate, explained a 71.4% variance in the dependent variable, work satisfaction. It was determined that organizational climate is a strong predictor of work satisfaction perceived by employees of Hitachi Chemicals, Montemorelos, Nuevo León, México. It can be established that the greater the levels of organizational climate experienced by the employees, the greater the level of work satisfaction will be.

Research on the Management System of Airline Dispatch in the Flight Operation

In the modem development,the aircraft has become one of the main tools for people's daily travel and the development of the social industry,which promotes the development of the civil aviation.In the composition of airlines,dispatch is one of the representatives of the important work,and we should establish an effective management system.Under the function of this system,to do a good job in the air dispatch is not only conducive to guaranteeing the normal operation of flights,but is also conducive to further promoting the development of the civil aviation industry.In this regard,this paper focuses on the discussion and study of the management system of the air dispatch in the flight operation.

The Use and Handling of Management Fashions

Some management concepts come and go,some become classics.Management Fashion Theory provides insights of how management fashions can be distinguished and recognized.This article illustrates the characteristic features of the theory using the example of the concept of“New Work”.

Prehospital difficult airway management:old things still work

To the Editor：Airway management is a crucial skill for emergency physician, who＇s often called to deal with difficult airways and requests for quick, simple and effective responses, as the many factors responsible for difficulties might be enhanced by emergency setting.[1] We now have many rescue devices as the LMA, I-gel, but they do not provide a definitive airway, and recent studies evaluating the use of the videolaryngoscopes in emergency show conflicting results.