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has been cited by the following article:

• TITLE: Empirical Study on the Impact of Account Receivables and Inventory Conversion Cycle on Profitability of Manufacturing Firms Listed on Ghana Stock Exchange

  AUTHORS: Lamptey Lanquaye Lazarus, Acheampong Agyei Kwame, Zuzie Suglo Rakibu, Sunu Prince, Muda Paul

  KEYWORDS: Account Receivables Period, Inventory Conversion Period, Ghana, Return on Asset, Working Capital Management

  JOURNAL NAME: Open Journal of Business and Management, Vol.11 No.3, May 31, 2023

  ABSTRACT: The purpose is to investigate the effect of account receivables and inventory conversion cycle on performance of Manufacturing Firms Listed on Ghana Stock Exchange. The paper adopted cross-sectional study which adopts quantitative research approach. A panel data of six (6) listed Ghanaian manufacturing firms on the Ghana Stock exchange for the periods 2011 to 2020 was used for the study. Data was obtained from the audited financial statements of the firms. Correlation and Ordinary Least Square (OLS) multiple regressions were employed to analyse the data. The finding revealed that there is statistically negative (Beta = -0.201) and significant (P-value = 0.000) effect of account receivables period on return on assets. The study revealed that there is statistically significant negative effect between inventory conversion period and return on asset (Beta = -0.273, P 0.05). The results indicated that (current ratio, sales growth and cash to sales) had no significant positive effect (Beta = 0.115, P > 0.05), (Beta = 0.071, P >0.05) on return on asset.