Thesis (Ph.D.) - Cairo University - Faculty of Commerce - Department of Business Administration

Working capital management has become one of the most critical issues for financial management subject specially in the segment of small and medium enterprises since these enterprises are facing problems in access to finance and usually, do not accomplish the long-term funding for the causes of credibility. The small and medium-sized enterprises solve the problem of access to finance by using short-term capital funds supplier{u2019}s credit because it is supposed to be cheaper and more obtainable. The goal of this research is to identify determinants that affect working capital management by Small and Medium Enterprises in Egypt. The researcher uses the cash conversion cycle to define working capital management; short cash conversion cycle indicates efficient working capital management. The researcher applied five factors used in prior research to explain differences in working capital management.The factors included operating cash flows, return on assets, leverage, growth, and size. The regression analysis (Generalized Method of Moments) method was applied on a panel data for a sample of 348 Egyptian small and medium enterprises. The researcher used E{u2013} views package where the statistical tests were done. The results of the research show that there is a significant statistical negative relationship between enterprise cash conversion cycle and operating cash flow, return on assets and enterprise growth

Issued also as CD