WORKING CAPITAL MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA
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This study investigated the relationship between workforce diversity and economic sustainability, of oil and gas multinational corporations in Nigeria. Research evidence indicates that the economic sustainability goal is yet at its optimum using the infrastructural and social responsibility approach. The study adopted the cross-sectional survey design. Structured questionnaire from 158 members of the 44 target organizations was used to generate data for the study. Three null hypotheses were formulated to guide the study. The Spearman’s rank order correlation coefficient was used to test the bivariate analysis. The tests were carried out at 0.05 level of significance and analysed using SPSS tool. The findings showed that there is a significant relationship between workforce diversity and measures of economic sustainability. In conclusion, the study affirmed that ethnic diversity of oil and gas corporations in Nigeria impact significantly on economic sustainability as it contributes substantially towards the unification of organizational members’ ideals and values. Based on the findings, the study recommends that organizations in pursuit of corporate sustainability should emphasize on policies and culture of inclusive diverse workforce with focus on generational gaps to achieve a greater environmental, economic and social corporate sustainability.Abstract
The study was conducted to investigate the relationship between working capital management and financial performance of small and medium scale businesses in Nigeria. The study used secondary data which were analyzed using Statistical Package for Social Sciences (SPSS) version 21. Hypotheses were tested using Ordinary Least Square (OLS) Analysis at a significant level of 0.05. Hypothesis one and three tested showed that there is a significant relationship between average collection period and earnings per share of small and medium scale enterprises in Nigeria. The findings also reveal that there is a significant relationship between average payment period and earnings per share of small and medium scale enterprises in Nigeria. Hypothesis two and four tested showed that there is a significant relationship between average collection period and return on capital employed in Nigeria. The findings also showed that there is a significant relationship between average payment period and return on capital employed of small and medium scale enterprises in Nigeria. Based on these findings, the following recommendations were made: The management of small and medium scale enterprises in Nigeria should exhibit carefulness in handling of inventory at least to ensure that their inventory level will not be below the minimum Inventory level. Reduce the time at which customers make payments to the company for goods bought. Professionals should be hired by these companies to ensure effective and efficient working capital management. Much attention should be paid to cost of sales to ensure that it will not negatively affect prices of stock.