Empirical Survey of Corporate Liquidity Management Practices of Nigerian-Quoted Manufacturing Enterprises
Journal of Financial Management and Analysis, Vol. 18, 2005
Posted: 18 Apr 2006
This study is intended to investigate and subsequently improve the capability of corporate finance executives in handling acute liquidity shortages through optimal cash flow management practices within a risk-return framework in the Nigerian quoted manufacturing enterprises. The questionnaire survey which obtained a response rate of 75.5 percent show among others that most respondents are incapable of interacting with the financial markets in managing the cash flow cycle. Since financial liberalization fosters banking fragility, as the Nigerian experience shows, finance managers in manufacturing enterprises need to redefine their banking relationships regularly as a strategy for managing anticipated and unanticipated financing gaps.
Keywords: Nigeria, Quoted-Manufacturing Enterprises, Optimal Cash Flow Management
JEL Classification: L60, C82, N67, G39
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