CASH MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED FIRMS IN NIGERIA
Keywords:
Cash Management, Financial Performance, Listed Insurance Firms, Market Price Per Share, Net Assets Per ShareAbstract
The study examined the effect of cash management on financial performance of listed insurance firms in Nigeria. The management of insurance business in Nigeria is a serious challenge despite the relevance of this service in the country due to a lot of problems that are entailed in insurance business. The study specifically seeks to determine the effect of cash management on net assets per share and to ascertain the impact of cash management on market price per share of listed insurance firms in Nigeria. Cash management was represented by the ratio of cash and cash equivalent to total assets while financial performance on the other hand was proxy in the study with net assets per share and market price per share. Statistical test of parameter estimates was conducted using Panel least squares regression method. Ex Post Facto design was adopted and data for the study were obtained from the Nigerian Exchange Group Factbook and published annual financial reports of listed insurance firms in Nigeria from 2015-2023. The study revealed that cash management has positive and significant effect on firm performance. Furthermore, the study came to conclusion that cash management improves financial performance in listed insurance firms Nigeria. It is therefore recommended, among others that managers should consider the financial condition of a firm when determining the optimum cash liquidity due to its different effects since optimal cash management enhances firm net assets value and market share.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Journal of Global Accounting
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Articles submitted to JOGA should not have been published or are currently under review by another Journal. Kindly see the guide for the preparation of the manuscript for details. Successful submission of articles by author(s) for publication clearly implies that the work is not an infringement of any existing copyright warranty as JOGA reserves the right to be indemnified by the author(s) where any breach of such warranty is proven. For ease of dissemination and to ensure proper policing of use, papers and contributions become the legal copyright of JOGA once published unless otherwise agreed.
Permission clearance should be obtained by the author(s) where applicable for the use of any content of interest not originally created by them. This must be done before the submission of the article to JOGA. Failure to do so may lead to a lengthy delay in publication, as JOGA is unable to publish any article which has permissions pending. Thus, the rights JOGA requires are:
- Non-exclusive right to reproduce the material in the article or book chapters.
- Print and electronic rights.
- To use the material for the life of the work (for instance, there should be no time restrictions on the re-use of material).
Where tables, figures or excerpts of more than 250 words are reproduced from another source, it is expected that:
- Author(s) should obtain the necessary written permission in advance from any third-party owner of the copyright for the use in print and electronic formats of any of their text, illustrations, graphics, or other material in their manuscript. Permission must also be cleared for any minor adaptations of any work not originally created by the author(s). The author (s) should not assume that any content freely available on the web is free to use.
- Where the author adapts a significant number of any material, the author(s) must inform the copyright holder of the original work.
- Author obtains any proof of consent statements
- The author must acknowledge figure(s) and content adopted or adapted in work utilizing source(s) and further capture them in the list of references.
