INFLUENCE OF CASH MANAGEMENT ON FINANCIAL PERFORMANCE OF SELECTED MANUFACTURING COMPANIES IN NIGERIA

Odo, Stephen Idenyi and Udodi, Joy Nneka (2022) INFLUENCE OF CASH MANAGEMENT ON FINANCIAL PERFORMANCE OF SELECTED MANUFACTURING COMPANIES IN NIGERIA. Contemporary Journal of Banking and Finance, 3 (6). pp. 26-41. ISSN 4631 – 6228

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Abstract

This study investigated the influence of cash management on financial performance of selected manufacturing companies in Nigeria. The population of the study included fifty five (55) manufacturing firms quoted on the Nigerian Stock Exchange (NSE) with a sample size of twenty-six (26) manufacturing companies purposively selected from the consumer and industrial goods sub-sectors. Ex-post facto research design was employed in the study. The secondary data was obtained from Annual reports of sampled companies as provided by individual companies and Nigerian Stock Exchange (NSE) website. The panel least square regression analysis was employed in validating the hypotheses. The study revealed a significant negative effect of cash management on returns on assets and Tobin’s Q. Returns on equity was negative and non-significant. Consequent on the findings, the study therefore recommends amongst others that management should set proper exit strategies for a high conservative cash management policy measure after considering banks’ lending attitudes and capital market conditions.

Item Type: Article
Subjects: H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 27 Jul 2022 13:14
Last Modified: 27 Jul 2022 13:14
URI: http://eprints.gouni.edu.ng/id/eprint/3550

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