The study assessed the impact of working capital management on corporate financial performance of consumer goods sector in Nigeria. The study specifically determined the impact of average collection period on the return on assets of consumer goods industries in Nigeria; assessed the effect of cash conversion cycle on the return on assets of consumer goods industries in Nigeria and evaluated the effect of average payment period on the return on assets of consumer goods industries in Nigeria. Panel data spanning five years (2013-2017) was gathered for five consumer goods firms in Nigeria. Panel estimation techniques such as descriptive, correlation, fixed effect (cross section and time specific), random effect and other post estimation tests was used in the study. Findings from the study indicated that average collection period exerts negative insignificant impact on the profitability of consumer goods firms with coefficient estimate of -.0000662(p=0.848>0.05); cash conversion cycle exerts negative insignificant impact on profitability of consumer goods firms with coefficient estimate of - .0002468 (p=0.527>0.05) and average payment period exerts negative significant impact on the profitability of consumer goods firms in Nigeria with coefficient estimate of .0016386 (p=0.049<0.05). Premise on these findings, the study suggested that management of manufacturing firms should adopt effective cost reduction strategies, measures to control labour cost vis-à-vis ensuring adequate supervision of workers, monitor firm’s assets and occasion employee training.
The study examined budget and financial control in selected government parastatals in Nigeria. The survey research design was adopted in the study. Primary data was obtained using a well-designed questionnaire. Data gathered in the study was analyzed using descriptive, correlation analysis, logit regression analysis and other post estimation tests. Findings obtained in the study indicated that budget preparation exerts insignificant positive impact on financial control in Nigerian government parastatals with coefficient estimate of .034178 (p=0.195> 0.05); budget implementation exerts insignificant positive impact on financial control of Nigerian government parastatals with coefficient estimate of .0082354 (p=0.750> 0.05) and budget monitoring and evacuation exert insignificant positive impact on financial control, with coefficient estimate of .0468773 (p=0.234> 0.05). Premise on these findings, the study concluded that financial control on the average tends to increase as government parastatals experience effectual budget performance, with more budget preparation, implementation and monitoring and evaluation as opposed to the usual neglect of budget after implementation. Hence, it was suggested that government should ensure improvement in budget design; government should ensure adequate budget monitoring procedure and government should ensure viable budget evaluation procedure.
This study provides empirical evidence on what determines bank lending in Nigeria by considering the pre and post consolidation effect and interaction effect using annual data from 1990-2019. This study employs multiple regression analysis. The regression model examines the effect of total savings (TOS), non-performing loan rate (NPLR) and number of bank branches (NBB) on credit to private sector (CPS). The study also investigates the interaction effect of total savings and Number of bank branches in explaining the combined factors that influences Nigerian Commercial Banks' lending. The regression results reveal that before and after structural break, none of the variables is significant to determine commercial bank lending in Nigeria. It also reveals that prior to consolidation only TOS and NPLR had positive effect on CPS while all the variables had negative effects on CPS after consolidation period. From the result of the interaction effect, it's evident that the direct effect of total savings, Number of bank Branches and Non-performing loan on credit to private sectors is positive while only total savings and Nonperforming loan exact significant effects. The interaction effect of total savings and Number of bank branches shows a negative but significant relationship with credit to private sector. This study therefore concludes that there exists an interaction effect in the model and that none of the variables is significant in determining commercial bank lending in Nigeria before and after consolidation. However, the multiplicative effect of total savings and number of branches on commercial bank lending behavior is significant. Therefore, the study recommends that total savings, non-performing loans and Number of bank branches should be jointly managed and utilized to control bank lending behavior in Nigeria.
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