What is it about?

This study examines the influence of working capital cycles on financial performance of cement industry of Nigeria with a sample of all the listed cement companies in the Nigerian Stock Exchange for the period 2007 to 2018. Correlation and regression analysis were used tools of analysis. Financial performance was proxy by return on assets and return on equity.

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Why is it important?

The study show that a shorter inventory conversion period, account payable period and a longer account collection period enhances the return on asset while a shorter inventory conversion, account collection and account payable periods enhances the return on equity.


As working capital is a vital ingredient in the operations of industries, this study provides pointedly the impact of proper working capital management on the financial performance of firms with particular interest on cement manufacturing.


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This page is a summary of: The relationship between working capital management and corporate returns of cement industry of emerging market, International Journal of Finance & Economics, August 2020, Wiley, DOI: 10.1002/ijfe.1959.
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