Asare, E; Owusu-Manu, D G; Ayarkwa, J and Edwards, D J (2024) Conceptual review study of working capital management practices in the construction industry: Trends and research prospects in Ghana. Journal of Engineering, Design and Technology, 22(4), pp. 1082-1098. ISSN 1726-0531
Abstract
Purpose: The concept of working capital management (WCM) has been a fundamental financial accounting term that has evolved in financial theory for centuries. Given that the construction industry (CI) is financially dynamic, there is an imperative need to understand its WCM practices. The call for the industry players to adhere to efficient financial management practices as a result of a huge financing gap requires consented effort. This study aims to explore the trend of practices of WCM in the CI and elicit a broader polemic dialogue about this crucial theme. Design/methodology/approach: The source of information for the study was secondary mainly from referenced journals and international conference papers published on WCM relating to the CI. A three-step sample selection strategy was adopted to identify the range and scope of publications on WCM in the CI based on the systematic literature review method. Findings: The CI cannot boost of enough empirical WCM research to gain in-depth understanding of its practical trend. The developing economies are failing to produce insightful peer-reviewed papers on WCM to assist in bridging the infrastructural financing gap through apposite strategies. Gaining appropriate knowledge of the short-term financial operations through a conceptualization of WCM practices in the CI may lead to better strategies formulated for smooth operations. Originality/value: This is a pioneering paper in developing economies that have taken stock of WCM knowledge of the practical trend in the CI. Future research prospects in which WCM matters can use it as a reference point.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction industry; practices; working capital management |
| Index terms: | management practice, methodology, conference, financial accounting, financing, publication, developing economy, financial management, strategy, journal, systematic literature review, construction industry, Ghana |
| Subjects: | professional development, management, economic development, research methods, research evaluation and metrics, Geography, research dissemination and communication, industry analysis, economic analysis |
| Topics: | Business Strategy, Information Management, Geographical Context, International Construction, Research Practice |
| Descriptive scope: | 4 PCTE |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here