Abstract
The current study’s aim is to investigate the role of corporate governance in
working capital management and financial risk (FR) of manufacturing firms.
The secondary data of 60 companies are collected from annual reports for
the period of seven years (2011-2017). WCM and FR are used as explained
variables while CGI is used as explanatory variable. Firm size, firm age,
firm leverage and firm growth are used as control variables. The study
finds a negative impact of CGI on WCM while there is an insignificant
impact of CGI on FR. The mangers of companies are advised to increase the
CGI for better management of working capital.
ayesha afzal, sadia liaqat. (2019) Corporate Governance, Working Capital Management and Firm Risk: Empirical Evidence from Pakistan Stock Exchange (PSX), Journal of Managerial Sciences, Volume 13, Issue 4.
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