Firms with efficient
working capital management generate more free cash flows will result in a higher
business valuation. The present study aims to analyze the working capital
management efficiency of firms in Fast Moving Consumer Goods industry in India
selecting a sample of all the firms of CNX FMCG index of National Stock
Exchange of India for the period from 2003-04 to 2014-15. Performance index,
utilization index, efficiency index are used to measure the efficiency of
working capital management. Empirical results proved that the Indian Fast
Moving Consumer Goods industry performed remarkably well during the study
period.
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