Mehdi Rahnama - MS Student of Accounting, Islamic Azad University of Rasht, Iran
Parisa Khaliq Khiavi - Faculty member at University of Guilan,
Sina Kheradyar - Member of Islamic Azad University, Rasht branch, Department of Accounting, Rasht, Iran

The international sanctions taken against our co untry has resulted in many troubles during the recent years and the Iranian companies also have been affected by them. The prepared research aims to study working capital management on profitability of Tehran Stock Exchange listed companies and compare the results to the years before and after imposing the sanctions. The study covers the years 1380 to 1390. The sample includes all the Tehran Stock Exchange listed companies acting during the years 1380 to 1390. The sample includes 80 companies which have been studied by the use of combinative data. Experimental results demonstrated that sanctions have caused some differences in the effects of working capital management on profitability of listed companies and its importance have increased after imposing the sanctions in the banking system. The results also show that the profitability of listed companies is increased by making the cash conversion cycle shorter.

The banking system sanctions, the cash conversion cycle, profitability, working capital management