IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 9 NO. 8 2023
DOI: https://doi.org/10.56201/jafm.v9.no8.2023.pg81.96

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Cash Management and Financial Performance of Quoted Non- Financial Firms in Nigeria: A Dynamic Robust Least Squares Regression Approach

Lawrence, U. Egbadju

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Abstract

This study investigates the impact which cash management and the financial performance of selected firms in Nigeria. The period which the study covers is from 2005 to 2020 of 76 non- financial firms quoted on the floor of the Nigerian Exchange Group the information about them are extracted from their financial statements. The results of the dynamic robust least squares indicated that while cash and cash equivalence (CCE), average collection period (ACP), days sales outstanding (DSO), days inventory outstanding (DIO) and sales growth (GSALES) are positively significant with economic value added (EVA); cash conversion cycle (CCC), average payment period (APP), days payment outstanding (DPO), quick ratio (QR), short term debt (STD) and capital expenditures (CAPEX) are negatively significant with it. The study concludes with some recommendations.

keywords:

Cash Management, Performance, Quoted Non-Financial Firms, Robust Regression.

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References:

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