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    Focus on working capital management practices of Mauritian SMEs: Survey evidence and Empirical analysis

    Access Status
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    Authors
    Padachi, Kesseven
    Howorth, C.
    Date
    2014
    Type
    Journal Article
    
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    Citation
    Padachi, K. and Howorth, C. 2014. Focus on working capital management practices of Mauritian SMEs: Survey evidence and Empirical analysis. E3 Journal of Business Management and Economics. 5 (4): pp. 97-108.
    Source Title
    E3 Journal of Business Management and Economics
    ISSN
    2141-7482
    URI
    http://hdl.handle.net/20.500.11937/39223
    Collection
    • Curtin Research Publications
    Abstract

    This study investigates into working capital management (WCM) practices of small to medium sized manufacturing firms operating in diverse industry groups of the Mauritian economy. Previous studies have revealed that SMEs tend to neglect this area and are often credited as the main reason for their poor performance. Therefore the purpose of this paper is to investigate into the SMEs approach to WCM routines. The research objectives are addressed using a survey based approach, supplemented by 12 mini case studies. The findings consistently highlighted that Mauritian SMEs are not a homogenous group with regard to WCM routines. Exploratory factor analysis identified three underlying dimensions in the take up of WCM routines, namely stock review, debtor review and finance review of Mauritian SMEs. The education level and the field of study consistently show that financial knowledge gained in accounting related field make a difference. The results also showed that firms which claimed a more severely late payment focused more on credit management and pay more attention to working capital financing. Interestingly, the smaller firms may not be adopting formal analysis of WCM, not only because of resource constraint, but due to a lack of need. Financial institutions and policy makers need to focus on educating such owner-managers with necessary WCM knowledge

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