University of Isfahan Journal of Asset Management and Financing 2383-1189 8 2 2020 06 21 The impact of working capital management on Listed companies profitability in business cycles based on the output gap The impact of working capital management on Listed companies profitability in business cycles based on the output gap 31 48 21421 10.22108/amf.2017.21421 FA Somayeh Iskandarnejad Master of Accounting, Department of Accounting, Islamic Azad University, Tabriz, Iran Rassoul Hassanzadeh Baradaran Associate Professor, Department of Accounting, Islamic Azad University, Tabriz, Iran Hasan Taheri Coach, Department Of Economics, Islamic Azad University, Tabriz, Iran Journal Article 2016 05 17 <strong>Objective: </strong>This study aims to determine the impact of working capital management on profitability in business cycles based on the output gap in companies listed inTehran stock Exchange. In this study, the combination of panel data is used. <br /><strong>Method: </strong>For evaluating hypotheses, Factors such as Return on total Assets (ROA), Return of owner’s Equity (ROE), Return Operating profit (OP) Were applied to evaluate corporate profitability. Moreover factors such as cash conversion cycle (ccc), Inventory Turnover In Day (ITID), Average collection period (ACP), Average payment period (APP), were utilized as criteria for evaluating working capital management. The business cycle has used been to evaluate output gap In this study, 85 companies during the period 2005 to 2014 is considered as the sample. <br /><strong>Results: </strong>The results show that the cash conversion cycle and accounts receivable collection period in boom period has a significant and negative impact on operating profit. <strong>Objective: </strong>This study aims to determine the impact of working capital management on profitability in business cycles based on the output gap in companies listed inTehran stock Exchange. In this study, the combination of panel data is used. <br /><strong>Method: </strong>For evaluating hypotheses, Factors such as Return on total Assets (ROA), Return of owner’s Equity (ROE), Return Operating profit (OP) Were applied to evaluate corporate profitability. Moreover factors such as cash conversion cycle (ccc), Inventory Turnover In Day (ITID), Average collection period (ACP), Average payment period (APP), were utilized as criteria for evaluating working capital management. The business cycle has used been to evaluate output gap In this study, 85 companies during the period 2005 to 2014 is considered as the sample. <br /><strong>Results: </strong>The results show that the cash conversion cycle and accounts receivable collection period in boom period has a significant and negative impact on operating profit. https://amf.ui.ac.ir/article_21421_1dac0c1a4a6aef821497a3fe4af5baa9.pdf