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Working Capital Management and Financial Performance of Selected Quoted Firms in Nigeria

Author

Listed:
  • Yakubu Abubakar

    (Gbenga Olowe & Co Chartered Accountants Firm)

  • Dangana Umaru

    (College of Education, Gidan Waya, Nigeria)

  • Olaifa Oluwafemi Olumuyiwa

    (Department of Accounting, Ahmadu Bello University, Zaria, Nigeria)

Abstract

This study examines the impact of Working Capital Management on Financial performance of selected quoted firms in Nigeria. The study has been conducted in different parts of the globe and in Nigeria with different findings which are mixed and inconclusive. The population of the study consists of ten (10) firms quoted on the Nigerian stock exchange as at 31st December 2019 out of which ten (10) firms were selected as samples for a period of seven (11) years from 2009 to 2019 based on purposeful sampling technique. The study uses multiple regressions as a tool for analysis. The proxy for working capital management were cash conversion period, debt equity ratio and inventory conversion period while the proxy for financial performance was Return on Equity (ROE).The study reveals that Cash Conversion Cycle showed a positive significant impact on financial performance of selected quoted firms in Nigeria while Debt Equity Ratio and Inventory Conversion Period have no significant impact on financial performance of selected quoted firms in Nigeria.

Suggested Citation

  • Yakubu Abubakar & Dangana Umaru & Olaifa Oluwafemi Olumuyiwa, 2020. "Working Capital Management and Financial Performance of Selected Quoted Firms in Nigeria," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 7(4), pages 62-67, April.
    • Handle: RePEc:bjc:journl:v:7:y:2020:i:4:p:62-67
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