This paper investigates the impact of working capital management on the firm"s profitability. The research sample includes 119 non-financial listed companies on Vietnam stock market over a period of 9 years from 2010 to 2018. Two statistical approaches include Ordinary least squares (OLS) and fixed effects model (FEM) are employed to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show the negative and significant impacts of the working capital management, which measured by cash conversion cycle (CCC) and three components of the CCC including accounts receivable turnover in days (ARD), inventory turnover in days (INVD), and accounts payable turnover in days (APD) on the firm"s profitability measured by return on assets (ROA) and Tobin"s Q. It implies that firms can increase profitability by keeping the optimization of the working capital management measured by the CCC, which includes shortening the time to collect money from clients, accelerating inventory flow and hold the low payment time to creditors. Besides, the profitability of firms was impacted by the sale growth rate, firm size, leverage, and age. Therefore, this paper provides a new insight to managers on how to improve the firm"s profitability with working capital management.

Purpose This study aims to integrate the perspective of consumer social responsibility with the theory of planned behavior to explore the impact of environmental corporate social responsibility (ECSR) initiatives on intention to buy environmentally friendly products among Vietnamese consumers. Also, the moderating role of gender on the associations of antecedents and green purchase intention is tested in this study. Design/methodology/approach The data of 823 consumers using the tool of the mall-intercept survey recruited from several big cities in Vietnam. Cronbach’s alpha and confirmatory factor analysis has been used to test the reliability and validity of scales; then, structural equation modeling and PROCESS approach was used to test the fitness of the research model, formulated hypotheses and the indirect associations. Findings This study presented that ECSR initiatives were strongly and positively correlated with attitude towards green products, subjective norms, perceived behavioral and green purchase intention. Perceived behavioral control was found to be a partial mediator in the link between ECSR initiatives and intention to engage in pro-environmental consumption while the meditating roles of attitude towards green products and subjective norms in this linkage were not statistically significant. Additionally, this study illustrated that the impacts of subjective norms, perceived behavioral control and ECSR initiatives on green purchase intention were stronger for females than males. Practical implications This study provides several useful insights for policymakers and administrators to foster pro-environmental behavior of consumers as well as to inspire corporate social responsibility (CSR) activities of firms. Originality/value Even though there is a growing interest in investigating the impacts of CSR activities on consumers’ purchase behaviors, there is a lack of studies considering the aspect of consumer social responsibility on their sustainable consumption behavior. There is a need to enrich one’s knowledge about the effect of ECSR initiatives on consumer’ green purchase intention.

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