2025, Vol. 6, Issue 2, Part M
From board to balance sheet: CEO characteristics driving working capital success-evidence from manufacturing companies listed in NSE India
Author(s): Pravata Kumar Jena and Ajit Kumar Mishra
Abstract:
Purpose: The purpose of this paper is to investigate the association between CEO Characteristics and WCM of manufacturing companies listed in NSE-India. Furthermore, it also tries to determine which attributes of CEO most substantially affect the WCM measured by CCC.
Methodology: The research is based on secondary data gathered from annual reports and financial databases of 120 NSE-listed manufacturing companies from 2015 to 2023. A panel data regression model and multicollinearity diagnostics were used to investigate the influence of CEO attributes i.e. age, gender, tenure, education, and financial competence.
Findings: More aggressive and effective WCM policies are linked to younger, financially educated and longer-tenured CEOs. While prior financial experience favorably affected WCM and CEO gender had no significant impact.
Originality: It offers a novel contribution by exploring the impact of CEO characteristics on WCM of Indian manufacturing companies. The results offer practical recommendations for board, investors, regulators and policy makers.DOI: 10.22271/27084515.2025.v6.i2m.845
Pages: 1202-1209 | Views: 74 | Downloads: 36
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