文章基本信息

标题：Effect of Working Capital Management Decisions on Financial Performance:Evidence from Kenya’s Tea Sector
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作者：Charles Kiprotich Yegon ; Willy Muturi ; Oluoch Oluoch 等
期刊名称：International Journal of Finance & Banking Studies
印刷版ISSN：2147-4486
出版年度：2021
卷号：10
期号：4
页码：127-140
DOI：10.20525/ijfbs.v10i4.1432
语种：English
出版社：Society for the Study of Business & Finance
摘要：Collapse of companies in Kenya has been on the rise in the recent past. Far reaching endeavors to resuscitate these liquidating and ailing firms have generally been attributed on their corporate financial management decisions. Multinationals and KTDA managed tea firms in Kenya have been performing poorly in the recent past where audited financial statements and reports revealed a warning signal on its financial performance. Specific objectives of the study were to determine the effect of the accounts receivables period, accounts payables period, inventory conversion period, cash conversion cycle, financing policy, investing policy and moderating effect of ownership structure on financial performance. The study illustrated that accounts receivables collection period is negatively related to return on assets (? = -0.1299, p=0.0160), accounts payables payment period is negatively related to return on assets (? = -0.0843, p = 0.0070), inventory conversion period is negatively related to return on assets (?= -0.0623, p=0.0180), cash conversion cycle is negatively related to return on assets (? = -0.1107, p = 0.0030), financing policy is positively related to return on assets (? = 0.1589, p = 0.0000), investing policy is positively related to return on assets (? = 0.0291, p = 0.0000).
关键词：Working capital;Accounts receivable;Accounts payables and Inventory