This page presents an excerpt of the available research material, including the Preliminary Pages, Table of Contents, Abstract, Chapters One to Five, and References. It provides a comprehensive overview of the study, enhancing readability and accessibility for students, and researchers seeking complete material on “Working Capital Management and Profitability of Listed Pharmaceutical Firms in Nigeria”.
I am profoundly grateful to everyone who contributed to the successful completion of this project. I am especially grateful to my Supervisor (Name), the Head of Department (Name), and the Lecturers in the Department of Pharmaceutical Technology / Science for their invaluable guidance and support. I also acknowledge the contributions of authors and scholars whose works on Working Capital Management and Profitability of Listed Pharmaceutical Firms in Nigeria provided essential insights. Special thanks go to my study area (and any funding organizations, if applicable) for their financial assistance. I am equally thankful to stakeholders, including mentors, teachers, and colleagues, for their encouragement and support. Finally, I deeply appreciate my family and friends for their patience and unwavering support throughout this journey. Your contributions have been instrumental in making this research a reality.
Working capital managemt involves the management of the most liquid resources of the firm which includes cash and cash equivalents, inventories, trade debtors and other receivables. Most firms do not ensure optimal level of working capital and this has been a major obstacle to their overall profitabilty. The study examined the impact of working capital management on the profitability of Pharmaceutical firms listed on the Nigerian Stock Exchange market. Correlation and ex-post facto research design were used in a sample of 5 Pharmaceutical firms.
Secondary data for a period of 10 years (2002-2011) was used, and Ordinary Least Squares (OLS) multiple regression was employed in data analysis. The study found that working capital management (account receivables collection management, accounts payables management, inventory management, cash conversion cycle management, operating cash flow management) has a significant impact on the profitability of listed pharmaceutical firms in Nigeria.
It is therefore recommended among others that managers should focus on reducing inventory days, collect receivable as soon as possible because it is better to recieve inflows sooner than later, and delay payment of creditors inorder to invest the money in short-term securities which are profitable. Also, the cash conversion cycle should be elongated to the extent that it maximizes profit.
1.1 Introduction
… As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitation of the study and Definition of technical terms.…
