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Working Capital Management and Profitability of Listed Manufacturing Companies in Ghana.

Abstract

Working capital management plays a very important role in the success of a business because of its effect on operating profit. Its management in recent times has become a challenge to a lot of manufacturing companies. The study used secondary data of 5 listed manufacturing companies on the Ghana Stock Exchange. Using the panel data methodology, the study found that, the major components of working capital such as inventory days, accounts payable, accounts receivables and cash conversion cycle have an effect on the operating profit of manufacturing companies in Ghana.

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