with only one article was omitted for practical reasons. Figure 5 also shows that there
are 17 such journals which provide more than one article. International Research Journal
of Finance and Economics provides maximum of nine articles, followed by
Interdisciplinary journal of contemporary research in Business with seven articles
published on WCM during 1980-2012.
4.4 Articles by industry studied
Findings of the articles by industry studied indicate that WCM research is not restricted to
any particular industry.Awide range of sectors has been researched in the selected articles,
including primary industries like manufacturing, cement and textile.Themajority of articles
studied multi-industry samples which indicate an attempt to compare outcomes and
findings across industries. Table III indicates the frequency of articles for each industry from
which data are collected and analyzed in a particular study. Multi-industry studies top the
table with 67 articles followed by manufacturing, textile and cement industries with 19, 6
and 4 articles published on WCM during 1980-2012.
4.5 Analysis by country studied
The analysis, by country, illustrates a wide range of experiences from the literature on
WCM. Table IV reports the countries chosen for selection of sample by the selected