There is an increasing trend around the world of married couples deciding not to have children. Discuss the advantages and disadvantages for couples who decide to do this.

Working capital

management

is a vital element in managing

finance

Suggestion

the finance

of an enterprise due to the reasons

such

as to determine the composition of the capital for operating and investing in the firms. Excessive levels of current assets can easily result in a

firm

's realizing a substandard

return

on

investment while,

Suggestion

investment, while

firms with too few current assets may incur shortages and difficulties in maintaining smooth operations

(

Accept space

(

Van, Horne, J. C.

and

Suggestion

And

Wachowicz, J. M, 2000)

(

Accept space

(

Filbeck and Kruenger, 2005).

Nwankwo

and Osho (2010)

WCM

plays a significant role in maximizing shareholder value in the corporate strategy as a whole.

However

, maximizing shareholder wealth consists of identifying the proportions of both current and short term assets. The efficient working capital

management

involves planning and controlling current assets and current liabilities to eliminate the risk of

inability

Suggestion

an inability

to meet short term financial obligations and the efficient working capital

management

avoids excessive investment in current assets (Eljelly, A, 2004). The working capital

management

is dealing with current assets and current liabilities and directly affecting the

liquidity

and

profitability

of

such

firm

. Current assets are the assets that in the normal course of

business

return

to the form of

cash

within a short

period

of time, ordinarily within a year and

such

temporary investment as may be readily converted into

cash

upon need

(

Accept space

(

Abdul Raheman and Mohamed Naseer, 2007).

Also

, current liabilities are the obligations that effect in implementing

business

activities in the normal course of

business

return

to

Suggestion

in

the form of

cash

within a short

period

of time, ordinarily within a year and

such

obligations as may be readily payable by

cash

upon need. The working capital

management

of a

firm

in part affects its

profitability

. Traditionally, most of the

firm

’s financial decisions in the past focused on capital structure, capital budgeting and dividend policy, until

recently when most

Suggestion

most recently when

companies across different

industries

Suggestion

industry

realises the importance of efficient

management

of working capital to

firm

growth and sustainability (Sen and Oruc, 2009; Tsagem et al., 2014).

(

Accept space

(

Diary Jalal Ali 2018)effect of working capital

management

and its components on the banks’

profitability

in the United Kingdom. The

study

has selected ten listed banks in

London Stock Exchange market

Suggestion

the London Stock Exchange market

and the time

period

covers 18 years from 2000 to 2017. Corporate

Governance

has become very important for banks to perform and remain in competition in

this

era of liberalization and globalization.

These days mainly

Suggestion

These days, mainly

due to Globalization and is a key element in enhancing investor confidence, promoting competitiveness and ultimately improving economic growth. It is the set of processes, customs, policies, laws, and institutions affecting the way a corporation is directed, administered or controlled. Corporate

Governance

in the present day context encompasses the interests of not only the shareholders but

also

many stakeholders, which includes employees, customers, suppliers and the community and complying with the legal and regulatory requirements, a

parts

Suggestion

part

from

Suggestion

of

meeting environmental and local community needs. Due to the unique role of banks in national and local economies and financial systems, supervisors and governments are

also

stakeholders. A good corporate

governance

mechanism improves the health of the corporate sector,

thus

enhancing national competitiveness

(

Accept space

(

Podile and Sree 2015).CG is defined as the mechanism for setting the goals and objectives of

company

Suggestion

the company

a company

companies

and the means for achieving those goals and objectives. It involves the relationships among a

company

’s top

management

, board of directors, shareholders, and other stakeholders

such

as employees and customers (OECD principles of corporate

governance

, 2004).

Thus

,

this

study

is set to examine the impact of the both working capital

management

and corporate

governance

on

financial

Suggestion

the financial performance

performance

of the public sector banks in India. Theoretical and Empirical Literature review:

Theoretical review

Suggestion

A theoretical review

: The theoretical framework is the can support

theory

Suggestion

the theory

a theory

of a research

study

an understanding of the concept and theories that are relevant to the research of the

study

. The

study

mainly focused on two theories one is Agency

Theory

and

second one

Suggestion

the second one

a second one

is

Stewardship

Theory

. Agency

Theory

: The Agency

Theory

is the corporate

governance fundamental

Accept comma addition

governance, fundamental

theory

. The common example of the agency

theory

is the

relationship

between the employee (principal) and employers (agent) of an organization.When the agents

actfor

Suggestion

act for

the principal, it includes a comparison of the conduct of the

performance

for the benefit of the principal or acting as the principal's representative (Fayezi et.

al

Suggestion

Al

, 2012).Focuses on a set of corporate

governance

systems defined by a big number of shareholders, allowing the control and

management

of their assets in the

company

for their future profits by a separate group of people.It is regarded as one of the oldest theories in

management

and economics literature.(Panda &Leepsa, 2017). Berle and Means (1932) introduced the Discussion on ownership separation and control of companies in the United States and Jensen and Meckling (1976) Integrated elements of the

Theory

of the Agency, the

Theory

of Property Rights and the

Theory

of Finance to develop the ownership structure of an enterprise. The

theory

was found to be useful for investigating the

relationship

between principals and agents in a number of disciplines.Ronen, Kashi and Balachandran (1995), the use of Agency

Theory

in

Management

Accounting has been highlighted. Bergen, Dutta and Walker (1992) an attempt was made to clarify the market implications of Agency

Theory

by describing its key concepts.

Fama

and Jensen (1983) developed a

theory

that focuses on

steps

Suggestion

the steps

in the process of organizational decision-making and the establishment of tools to control Agency issues in the decision-making process. Agency

theory

is becoming increasingly dynamic in corporate

governance

. The

theory

is essential because it provides the basis for policy-making with regard to suitable organizational

governance

. Corporation

governance

mechanisms, like

business

information, board independence, external audit, policies and regulations, etc., are essentially introduced to manage the agency problem and to confirm that managers are always in the best interests of

business

owners (Homayoun&Homayoun, 2015).

Stewardship

Theory

:

Stewardship

theory

argues that managers of a

company

are the executors of the owners, where both have common goals.

Stewardship

theory

offers a general perspective on the nature of managers. Based on the social-psychological theories and theories of leadership,

stewardship

theory

offers an array of possible between principals and agents, the agents are community-based approach (Davis,

Frankforter

a smooth-textured sausage of minced beef or pork usually smoked; often served on a bread roll

frankfurter

, Vollrath, & Hill, 2007). According to Sundaramurthy and Lewis (2003), the

theory

of

stewardship

incorporates a collaborative approach, takes insights from sociology and psychology, and supports the

management

-board relationships by empowering

company

managers.Yusoff and Alhaji (2012) He stressed that the

theory

of

stewardship

believes in a strong

relationship

between managers and

business

success, thereby maximizing shareholder wealth.

Thus

,

management

satisfies all interested parties, according to

stewardship

theory

, and thereby guarantees an organization's more balanced corporate

governance

. Empirical Literature review: There are numerous studies on working capital

management

and corporate

governance

related to the

profitability

of the companies.

Deloof

Suggestion

Delf

(2003) Working capital

management

for a large sample of Belgian firms is examining how

profitability

affects

firm

profitability

.The results of the

study

indicate a significant negative association between inventory days, account receivable days and accounts payable with gross operating income.Shareholder value can be improved by reducing the number of accounts receivable days and inventory days,

however

, the negative

relationship

between accounts payable days and

company

profitability

is consistent with the view that some for-profit companies take longer to pay off their debts.

Filbeck

and Krueger (2005)

Analyze

examined carefully and methodically; broken down for consideration of constituent parts

analysed

the data of 970 firms in 26 industries during the

period

1996-1999. The

study

reports that companies were able to reduce their financing costs and increasing the funds available for development projects by reducing the amount of funds invested in working capital.

Further

, Azam and Haider (2011) The

study

showed a negative

relationship

between the

profitability

and

liquidity

of the sampled UK companies and a positive

relationship

between the

profitability

of the

company

and its debts.Lazaridis and Tryfonidis (2006) Investigate the

WCM

and corporate

performance

of a sample of 131 listed companies on the Athens Stock Exchange. The results of the

study

showed that the

cash

conversion

cycle

(CCC) and firms

leverage

were negatively correlated with firms

profitability

. In the same way, fixed financial assets correlate positively with

profitability

, receivables and a negative relation between stock duration and

profitability

is respectively positive.(Khan, 2014)The

study

concludes that the

profitability

of the

firm

can be improved through the efficient

management

of

Cash

Conversion

Cycle

(CCC) and its components. Amarjit et al.

(

Accept space

(

2010)

Analyzed

examined carefully and methodically; broken down for consideration of constituent parts

analysed

analyse

the

relationship

between

WCM

and the

profitability

of US manufacturing firms listed on the New York Stock Exchange. The findings of the

study

show a positive

relationship

between the

Cash

Conversion

Period

(CCC) and corporate

profitability

, a negative

relationship

between the collection

cycle

of receivables and the

profitability

of firms, and no substantial

relationship

between the stock holding periods (IHP) with

profitability

.

Similarly

, there is no statistical

relationship

between the accounts payable and the

profitability

of companies. The

study

found that

profitability

of companies can be improved through a reduction in the

period

of receivables and more efficient

management

of the

cash

conversion

cycle

(CCC).

Similarly

, Samson et al., (2012) the

study

showed a positive association between the

WCM

and the net profit margin and a negative

relationship

with the gross profit margin. (

Yeboah

and Yeboah, 2014) examined the possible impacts of

WCM

on banks’

profitability

in Ghana covering the

period

of 2005 to 2010. The findings suggest CCC

is

Suggestion

is conversely related to banks’ profitability and bank leverage positively affecting

positively conversely related to banks’ profitability and bank leverage affects

has conversely related to banks’ profitability and bank leverage positively affected

is conversely related to banks’ profitability and bank leverage positively affect

conversely

related to banks’

profitability

and bank

leverage

positively affect the

profitability

. Another

study

by (Umoren and Udo, 2015) examined the impact of

WCM

(measured by

cash

conversion

cycle

, creditors’ collection

period

and

debtors’ collection

Suggestion

a debtors’ collection period

period

) on the

performance

(

profitability

and

liquidity

) of selected 22 deposit money banks in Nigeria. The

study

reports that bank

profitability

inversely affected by

cash

conversion

cycle

and

leverage

. The

study

further

found banks

liquidity

is negatively influenced by

creditors’

Suggestion

creditor

payment

period

,

leverage

, and

cash

conversion

and credit risk.

(

Accept space

(

Yahaya and Bala, 2015) argue that WC is considered as the lifeblood and

nerve

Suggestion

the nerve

of the

business

concern. The

study

uses a different method to

re-examine

look at again; examine again

reexamine

the impact of

WCM

on Nigerian banks’ financial

performance

during 2007-2013. The

study

measures

WCM

components by

cash

ratio

, quick

ratio

, and current

ratio

. Findings indicate a positive

relationship

between current

ratio

and quick

ratio

and

return

on assets while

cash

ratio

found to be

conversely

related to the

profitability

. Harsh and Singh (2013) investigates the efficient

management

of working capital of 200 companies in the Bombay Stock Exchange. The working capital score of each

company

was calculated using three parameters; normalized value of

cash

conversion

efficiency (CCE), day’s working capital and day’s operating

cycle

. The result of the

study

revealed that efficient

management

of working capital significantly affects

profitability