From Board to Balance Sheet: CEO Characteristics Driving Working Capital Success–Evidence from Manufacturing Companies Listed in NSE India

Background of the Study: In today's fast-changing business environment, no company exists in isolation; its success or failure is determined by the strength of its relationships with shareholders and stakeholders. The board of directors, representing an essential aspect of corporate governance, provides a critical role in making firm-level decisions. The attributes that comprise a Chief Executive Officer (CEO) are increasingly being studied since their leadership has a substantial impact on operational and financial performance. The CEO's profile is predicted to have a significant impact on Working Capital Management (WCM), which is critical for liquidity and profitability of manufacturing firms. Purpose This research investigates the association between CEO Characteristics and the Working Capital Management (WCM) of manufacturing firms listed on India's National Stock Exchange. It tries to determine which CEO traits most substantially affect Working Capital Management (WCM) measured by the cash conversion cycle (CCC). Research Methodology: The research is primarily based on secondary data gathered from annual reports as well as financial databases of 120 NSE-listed manufacturing companies during a nine-year period (2015–2023). A panel data regression model with descriptive, correlation, as well as multicollinearity diagnostics was used to investigate the influence of CEO attributes such as age, gender, tenure, education, and financial competence. Findings: More aggressive and effective WCM policies are linked to younger, financially educated, along with longer-tenured CEOs. While prior financial experience favorably affected WCM and CEO gender had no significant impact. Implications: The results provide evidence-based analysis for investors, regulators, and company boards in matching CEO nominations with good financial governance along with liquidity optimization.