• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>British Journal of Economics, Management & Trade >Empirical Study on the Influence of Working Capital Management on Performance of SMEs in a Developing Economy
【24h】

Empirical Study on the Influence of Working Capital Management on Performance of SMEs in a Developing Economy

机译：发展中经济体中营运资金管理对中小企业绩效影响的实证研究

获取原文
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

The study examined the influence of working capital management on the performance of SMEs in Ghana. Both descriptive and correlational research design was adopted for the study. The annual financial statements from 2011 to 2015 of SMEs in the Greater Accra, Ashanti and Brong Ahafo Regions of Ghana were examined. The study adopted availability/convenience sampling technique to select four hundred (400) SMEs. The impact of working capital management on the performance of SMEs in Ghana was established through the use of Ordinary Least Square (OLS) regression technique. Average Return on Capital Employed (ROCE) was proxied as the measure of performance whilst average cash conversion period, average account receivable days, average inventory turnover days and average account payable days were used as proxies for working capital management. The study found that cash conversion period, account receivable days and inventory turnover days were significantly and negatively related to performance. On the other hand, account payable days was ascertained to have a positive relation with performance. It is thus concluded that effective working capital management impacts on the performance of SMEs. The implication of these results is that by decreasing the cash conversion period, account receivable days and inventory turnover days, the SMEs can increase their profitability. The study recommends that the SMEs should consider a reduction in the cash conversion period, average account receivable days and average inventory turnover days. The SMEs must also consider negotiating for favourable terms of payments with their suppliers.
机译：该研究考察了流动资金管理对加纳中小企业绩效的影响。描述性和相关性研究设计均采用该研究。审查了加纳大阿克拉，阿散蒂和布隆阿哈福地区的中小企业从2011年至2015年的年度财务报表。该研究采用可用性/便利性抽样技术来选择四百（400）家中小型企业。通过使用普通最小二乘（OLS）回归技术确定了营运资金管理对加纳中小型企业绩效的影响。将平均使用资本回报率（ROCE）作为绩效的衡量标准，而将平均现金转换期，平均应收账款天数，平均库存周转天数和平均应付账款天数用作运营资本管理的代理。研究发现，现金转换期，应收账款天数和库存周转天数与业绩显着负相关。另一方面，确定应付账款天数与业绩呈正相关。因此得出结论，有效的营运资金管理对中小企业的绩效有影响。这些结果的含义是，通过减少现金转换期，应收账款天数和库存周转天数，中小企业可以提高其盈利能力。研究建议中小型企业应考虑减少现金转换期，平均应收帐款天数和平均库存周转天数。中小企业还必须考虑与供应商就优惠的付款条件进行谈判。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号