Effect of Cash Conversion Cycle on Firm Performance of Quoted Manufacturing Firms in Nigeria
Open accessAbstract
This study examines the effect of the cash conversion cycle (CCC) on the firm performance of quoted manufacturing firms in Nigeria. The study adopted the ex-post facto research design. The sample comprised twenty-one quoted manufacturing companies on the Nigerian Stock Exchange selected using the purposive sampling technique. The study relied on secondary data which was analysed using multiple regression techniques. The results showed that CCC had a negative non-significant effect on return on assets (ROA) and return on equity (ROE). Additionally, Generalised Least Squares were used to test for individual components of the CCC effect on ROA and ROE. The study recommends that managers pay crucial attention to the working capital components and the utilisation of technological breakthroughs, such as the Advanced Manufacturing Techniques as it affects the value of the firm.
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Patricia and Izuchukwu observed that CCC components impacted profitability positively in Greece.
“Patricia and Izuchukwu [25] conducted their research in Greece and observed CCC components impacted profitability positively.”
From Exploring the Causal Effect of Cash Conversion Cycle Signals on Profitability of Tanzanian Manufacturing Firms (2024) · cites this paper as Patricia and Izuchukwu [25]
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Tago, G., & Sumawe, S. (2024) · International Journal of Economics, Finance and Management Sciences · doi:10.11648/j.ijefm.20241205.19
- Authors
- Patricia, C., & Izuchukwu, C.
- Venue
- Journal of Economics, Management and Trade
- Publisher
- Sciencedomain International
- Published
- 2022-11-28
- Pages
- 142-152
- ISSN
- 2456-9216 (ISSN-L)
- OpenAlex
- W4310184832
- Cited by
- 3
- References
- 0
- Citations by year
- 2026: 1 · 2024: 2
- FWCI
- 0.91
- Type
- journal article
- Language
- en
- Open access
- diamond
- doi.org
- Locations
- Journal of Economics Management and Trade (publishedVersion)
- Journal of Economics Management and Trade (publishedVersion, cc-by)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Working Capital and Financial Performance
- Social Sciences › Business, Management and Accounting › Management Information Systems › Supply Chain and Inventory Management
- Social Sciences › Business, Management and Accounting › Accounting › Financial Analysis and Corporate Governance
- Keywords
- cash conversion cycle, firm performance, manufacturing companies, quoted companies, return on assets, return on equity, working capital management, Nigerian Stock Exchange
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