The role of sustainable investment practices in maintaining efficient working capital management

Ashfaq Habib · Shaista Anwar · Veronika Fenyves

13 citations0/0 files storedJOURNAL OF INTERNATIONAL STUDIES

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Working Capital and Financial Performance Sustainable Supply Chain Management Sustainable Finance and Green Bonds

Abstract

This study provides a theoretical argument supported by empirical evidence regarding the impact of sustainable investment practices on the working capital management of small- and medium-sized enterprises (SMEs). The study utilizes panel data on SMEs from 2014 to 2022. Cluster regression methodology is employed to assess the influence of sustainable investment practices on a firm’s working capital, with green finance (GF) as a moderating variable. Results revealed that a firm’s sustainable investment practices significantly and negatively affect its working capital. Additionally, the study identified GF as a moderator in the relation between sustainability and working capital. The findings indicated that firms actively engaging in sustainable investment practices are more efficient in managing working capital for their business operations’ long-term sustainability.

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References

2009The relationship between corporate social responsibility disclosure and corporate governance characteristics in Malaysian public listed companies 2022Green technological innovation, green finance, and financial development and their role in green total factor productivity: Empirical insights from China 2020Examining the correlations between stakeholder pressures, green production practices, firm reputation, environmental and financial performance: Evidence from manufacturing SMEs 2021Green bonds for sustainable development: Review of literature on development and impact of green bonds 2021Environmental, Social and Governance (ESG) disclosure, competitive advantage and performance of firms in Malaysia 2014The impact of working capital management on firm profitability in different business cycles: Evidence from Finland 2010Communication of Corporate Social Responsibility: A Study of the Views of Management Teams in Large Companies 2022Are firms motivated to greenwash by financial constraints? Evidence from global firms' data

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