Working capital management (WCM) and listed manufacturing companies (LMCs) profitability are subjects that have taken much attention of scholars globally because cash management, inventory management, receivables, and payables management components are vital elements for the performance of businesses. However, there is limited literature on the subject that considered the DuPont analysis as a measure of LMCs’ profitability as well as that used the finite distributed lag model to analyze WCM variables and profitability. Likewise, there is patchy recorded literature so far that tried to use administration expenses and marketing expenses to moderate the relationship between WCM and LMCs’ profitability. To bridge this knowledge gap, this study investigated the influence of WCM on profitability of LMCs’ on the Dar es Salaam Stock Exchange Plc (DSE), Tanzania. The study used an explanatory research design based on objectivism philosophies whereby profitability data were collected from the financial reports of the listed manufacturing companies on DSE. Panel data with the Finite Distribution Lag Model was used to analyze the published audited financial reports for 14 years, from 2005 to 2018 inclusive, of listed manufacturing firms. The results showed that current year marketing and administration expenses as moderators cause a lag of three years in the average collection period and each for moderator to have a positive impact on profitability, while the current year average collection period had a negative impact on profitability. It is, therefore, recommended that LMCs in Tanzania should consider the previous three years’ average collection period, administration expenses, marketing expenses, and effectiveness in managing working capital to enhance their profitability.
Corporate governance is a global issue that has caught the interest of many researchers and business owners. However, there is scanty literature that is done on the influence of corporate management on educational institutions’ financial stability and in particular the Adventist Church in Tanzania. The secondary schools owned by the Seventh-day Adventist (SDA) church in Tanzania have faced a financial crisis and this study investigated the church’s corporate governance and the financial stability of these educational institutions in Tanzania. The study adopted qualitative research design, used purposive sampling technic to collect information form the fifteen institutions, used the questionnaire to collect data from the respondents. The study used frequency statistics for the analysis with the help of SPSS version 26. The findings show that poor administration, inefficient and unprofessional boards, nepotism, bad treatment of employees, not addressing audit reports, poor customer care, poor infrastructure, and improvement of the government secondary schools have contributed to the financial crisis of these institutions and the church is advised to adhere to good corporate governance to bring remedy to the situation.
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