عنوان مقاله [English]
نویسندگان [English]چکیده [English]
In today's challenging economy, working capital has an important situation. Managers should determine a proper strategy in order to maximize stockholders` wealth and firms' value.
This study investigated the effects of working capital strategies on the market value added (MVA) in the Tehran Stock Exchange (TSE). To this end, a sample of 83 companies out of 14 different industries was selected.
The results showed that average MVA was different in various working capital strategies. Also, the results showed that the aggressive strategy causes the most market value added compared to the other strategies in all industries.
The overall findings indicated that management policies in different working capital strategies, was in the line with maximizing stockholders’ wealth and value of firms.