• D. Bereprebofa Department of Marketing, Dennis Osadebay University, Asaba.
  • M. T. Sinebe Department of Accounting, Delta State University, Abraka
  • J. E. Akpotu
Keywords: Working Capital Management, Return on Assets, Cash Conversion Cycle, Account Payable Management, Account Receivable Management


This study investigated the influence of Working Capital Management (WCM) on the financial performance of publicly listed companies in Nigeria. The analysis of secondary data from the period of 2012 to 2021 employed the utilization of cash conversion cycle, Account Receivable Management, and Account Payable Management metrics. The findings of the study indicate that there is statistically significant relationship between the cash conversion cycle and financial performance. The management of cash conversion cycle, accounts receivable and accounts payable showed a statistically significant impact on the financial performance of publicly traded companies in Nigeria. The study therefore suggests that firms should maintain an optimal level of working capital in order to maximize their overall value. Additionally, the effective management of cash flow is deemed to be of utmost importance for organizations while maintaining a balanced working capital management, with particular focus on managing account receivables, payables, and inventory. This is because efficient working capital management is anticipated to have a beneficial influence on the market value of firm.


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How to Cite
Bereprebofa, D., Sinebe, M. T., & Akpotu, J. E. (2023). WORKING CAPITAL MANAGEMENT AND FIRMS’ FINANCIAL PERFORMANCE: EVIDENCE FROM LISTED NIGERIAN FIRMS. GPH-International Journal of Business Management, 6(11), 01-11.