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Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-sized Entities in Nigeria

Year 2015, Volume: 5 Issue: 1, 77 - 83, 01.03.2015

Muhammad Musa Tsagem Norhani Aripin Rokiah Ishak

Abstract

This paper aims to investigate the impact of working capital management, family ownership and board size on the profitability of small and medium-sized entities in Nigeria. The panel data regression analysis is employed using financial reports of 47 SMEs of North-West geopolitical zone in Nigerian for the period 2008–2012. The study found a statistically significant relationship between account receivables period, accounts payable period, cash conversion efficiency and board size with SMEs profitability, proxy by gross operating profits. Further, a positive relationship between inventory holding periods, cash conversion cycle and cash ratio with profitability were established. The result suggest that SMEs owners/managers need to give more emphasis to efficient management of their limited resources by managing their account receivables, accounts payable, inventories and cash effectively for improve profitability. In addition, the study contributes to existing literatures on the importance of WCM and board size to SMEs for sustainability and growth.

Keywords

Working Capital Management Corporate Governance Small and Medium Enterprises Profitability Nigeria

Year 2015, Volume: 5 Issue: 1, 77 - 83, 01.03.2015

Muhammad Musa Tsagem Norhani Aripin Rokiah Ishak

Abstract

There are 0 citations in total.

Details

Other ID JA27AJ65BN
Journal Section Research Article
Authors

Muhammad Musa Tsagem This is me

Norhani Aripin This is me

Rokiah Ishak This is me

Publication Date March 1, 2015
Published in Issue Year 2015 Volume: 5 Issue: 1

Cite

APA Tsagem, M. M., Aripin, N., & Ishak, R. (2015). Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-sized Entities in Nigeria. International Journal of Economics and Financial Issues, 5(1), 77-83.
AMA Tsagem MM, Aripin N, Ishak R. Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-sized Entities in Nigeria. IJEFI. March 2015;5(1):77-83.
Chicago Tsagem, Muhammad Musa, Norhani Aripin, and Rokiah Ishak. “Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-Sized Entities in Nigeria”. International Journal of Economics and Financial Issues 5, no. 1 (March 2015): 77-83.
EndNote Tsagem MM, Aripin N, Ishak R (March 1, 2015) Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-sized Entities in Nigeria. International Journal of Economics and Financial Issues 5 1 77–83.
IEEE M. M. Tsagem, N. Aripin, and R. Ishak, “Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-sized Entities in Nigeria”, IJEFI, vol. 5, no. 1, pp. 77–83, 2015.
ISNAD Tsagem, Muhammad Musa et al. “Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-Sized Entities in Nigeria”. International Journal of Economics and Financial Issues 5/1 (March 2015), 77-83.
JAMA Tsagem MM, Aripin N, Ishak R. Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-sized Entities in Nigeria. IJEFI. 2015;5:77–83.
MLA Tsagem, Muhammad Musa et al. “Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-Sized Entities in Nigeria”. International Journal of Economics and Financial Issues, vol. 5, no. 1, 2015, pp. 77-83.
Vancouver Tsagem MM, Aripin N, Ishak R. Impact of Working Capital Management, Ownership Structure and Board Size on the Profitability of Small and Medium-sized Entities in Nigeria. IJEFI. 2015;5(1):77-83.