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Review of Innovation and Competitiveness : A Journal of Economic and Social Research, Vol. 3 No. 1, 2017.

Izvorni znanstveni članak
https://doi.org/10.32728/ric.2017.31/1

IS WORKING CAPITAL MANAGEMENT IMPORTANT? EMPIRICAL EVIDENCE FROM MANUFACTURING COMPANIES IN GHANA

Joseph Kwadwo Tuffour   ORCID icon orcid.org/0000-0002-2671-5472 ; School of Graduate Studies, University of Professional Studies, Accra, Ghana
John Adjei Boateng ; School of Graduate Studies, University of Professional Studies, Accra, Ghana

Puni tekst: engleski, pdf (168 KB) str. 5-20 preuzimanja: 1.732* citiraj
APA 6th Edition
Tuffour, J.K. i Boateng, J.A. (2017). IS WORKING CAPITAL MANAGEMENT IMPORTANT? EMPIRICAL EVIDENCE FROM MANUFACTURING COMPANIES IN GHANA. Review of Innovation and Competitiveness, 3 (1), 5-20. https://doi.org/10.32728/ric.2017.31/1
MLA 8th Edition
Tuffour, Joseph Kwadwo i John Adjei Boateng. "IS WORKING CAPITAL MANAGEMENT IMPORTANT? EMPIRICAL EVIDENCE FROM MANUFACTURING COMPANIES IN GHANA." Review of Innovation and Competitiveness, vol. 3, br. 1, 2017, str. 5-20. https://doi.org/10.32728/ric.2017.31/1. Citirano 24.02.2019.
Chicago 17th Edition
Tuffour, Joseph Kwadwo i John Adjei Boateng. "IS WORKING CAPITAL MANAGEMENT IMPORTANT? EMPIRICAL EVIDENCE FROM MANUFACTURING COMPANIES IN GHANA." Review of Innovation and Competitiveness 3, br. 1 (2017): 5-20. https://doi.org/10.32728/ric.2017.31/1
Harvard
Tuffour, J.K., i Boateng, J.A. (2017). 'IS WORKING CAPITAL MANAGEMENT IMPORTANT? EMPIRICAL EVIDENCE FROM MANUFACTURING COMPANIES IN GHANA', Review of Innovation and Competitiveness, 3(1), str. 5-20. doi: https://doi.org/10.32728/ric.2017.31/1
Vancouver
Tuffour JK, Boateng JA. IS WORKING CAPITAL MANAGEMENT IMPORTANT? EMPIRICAL EVIDENCE FROM MANUFACTURING COMPANIES IN GHANA. Review of Innovation and Competitiveness [Internet]. 2017 [pristupljeno 24.02.2019.];3(1):5-20. doi: https://doi.org/10.32728/ric.2017.31/1
IEEE
J.K. Tuffour i J.A. Boateng, "IS WORKING CAPITAL MANAGEMENT IMPORTANT? EMPIRICAL EVIDENCE FROM MANUFACTURING COMPANIES IN GHANA", Review of Innovation and Competitiveness, vol.3, br. 1, str. 5-20, 2017. [Online]. doi: https://doi.org/10.32728/ric.2017.31/1

Sažetak
The objective of the study is to empirically examine the effect of working capital management on performance of manufacturing firms in Ghana. The study used six listed manufacturing companies on the Ghana Stock Exchange for the period 2008-2014. Correlation and regression analyses were used to analyze the effect of working capital management on manufacturing firms’ performance. The study examines the effect of different components of working capital management on firm’s performance. The study finds that the current ratio, average collection period and the accounts payable period have positive effect on profitability. However, only the current ratio has statistical significance. Also, while inventory conversion period as well as the cash conversion cycle have negative effect on performance,
they are all statistically insignificant. It is recommended that finance managers should implement efficient and effective ways of managing working capital management. Emphasis should be placed on average payment period, improving sales growth and maintaining higher current ratio.

Ključne riječi
Working Capital Management; Return on Assets; Firm Performance; Manufacturing Companies; Ghana Stock Exchange

Hrčak ID: 181079

URI
https://hrcak.srce.hr/181079

Posjeta: 1.883 *