Authors : ODIRI V.I.O.; OHWOVORIOLE, Oviebemre; ISIAKA, Ganiyu Abiodun; OMOKHUALE, Omeniah Christopher; IGEMOHIA, Mohammed; OHWOJERO, Obaro Kelvin

Volume/Issue : Volume 9 - 2024, Issue 5 - May

Google Scholar : https://tinyurl.com/kue9b9jr

Scribd : https://tinyurl.com/y3c7suzc

DOI : https://doi.org/10.38124/ijisrt/IJISRT24MAY952

Abstract : This study employed a dissimilar methodology in investigating the mediating role of firm size on the relationship between inventory management and performance of non-finance companies publicly listed on the Nigerian Exchange Group. The study was hinged on just-in-time paradigm while variables of inventory management and financial performance were obtained from the annual reports and accounts of 76 non-finance companies. The results obtained from the structural equation modelling showed that size of firm mediates on the relationship between inventory management and financial performance measures of the study and it was found to be significantly positive. On the basis of this, it was suggested that companies need to strengthen inventory management practices as well as increasing their sizes. The size of companies can be increased by way of investing more funds in their asset structures.

Keywords : Return On Asset; Firm Size; Return On Equity; Inventory Management; Return On Capital Employed.

References :

1. Abbas, I.U. & Isiaka, A. (2021). Working capital management and financial performance of non financial quoted companies in Nigeria. International Journal of Research in Business and Social Science (10(3), 241–258.
2. Adekola, A., Samy, M. & Knight, D. (2017). Efficient working capital management as the tool for driving profitability and liquidity: a correlation analysis of Nigerian companies. International Journal of Business and Globalization, 18(2), 251-275
3. Ajayi, M.A, Segun, A. & Taiwo, O. (2017). Impact of working capital management on financial performance of quoted consumer goods manufacturing firms in Nigeria. Covenant Journal of Business & Business,8(2), 1-12
4. Akyuz, G.A. & Erkan, T.E. (2010). Supply chain performance measurement: A literature review. International Journal of Production Research, 48(17), 5137-5155.
5. Alsoboa, S., Al-Ghazzawi, A. & Joudeh, A. (2015). The impact of strategic costing techniques on the performance of Jordanian listed manufacturing companies. Research Journal of Finance and Accounting, 6(10), 116-127.
6. Chan, A.T., Ngai, E.W. & Moon, K.K. (2017). The effects of strategic and manufacturing flexibilities and supply chain agility on firm performance in the fashion industry. European Journal of Operational Research, 259(2), 486-499.
7. Ekinci, R., &Poyraz, G. (2019). The effect of credit risk on financial performance of deposit banks in Turkey. Procedia Computer Science, 158(1), 979–987.
8. Hiram, K.M. & Willy, M. (2017).  Effect of working capital management on financial performance of listed non-financial firms in Kenya.  International Journal of Management and Commerce Innovations, 5(1), 360-369.
9. Hussain, S., Nguyen, V.C., Nguyen, Q.M., Nguyen, H.T. & Nguyen, T.T.  (2023). Macroeconomic factors, working capital management, and firm performance: A static and dynamic panel analysis. Humanities and Social Science Communications, 8, 1-14
10. Imasuen, O.F., Okoro, G.E. & Yahaya, G.H. (2022). Chief executive officer attributes and the value of the firm: Does firm size play a moderating role?. International Journal of Management and Sustainability, 11(1), 46-57
11. Ironkwe, U. & Adee, G.M. (2013). Corporate governance and financial firms’ performance in Nigeria. Journal of Exclusive Management Science, 3(8), 1-6.
12. Kimaiyo, K.K. & Ochiri, G. (2014).  Role of inventory management on performance of manufacturing firms in Kenya: A case study of new Kenya cooperative companies. European Journal of Business Administration, 2(1), 336-341.
13. Nguyen, H.C., Pham, M.D. & Nguyen, D.T. (2020). Working capital management and firms’ profitability: Evidence from Vietnam’s stock exchange. International Journal of Economics and Finance, 8(5), 55-62.
14. Odiri, V.I.O. & Akpocha, N. (2023). Human resource practices and employees performance in Nigerian public universities. International Journal for Research Trends and Innovations, 8(7), 227-236
15. Odiri, V.I.O. & Ideh, A.O. (2020). Determinants of organizational performance in Nigeria: Evidence from service firms. Humanities and Social Sciences Letters, 9(1), 86-95
16. Odiri, V.I.O. (2009). Towards ensuring effective knowledge management in organizations: The role of human resource departments. Nigerian Business and Social Review, 8(2), 182-191
17. Odiri, V.I.O. (2014a). Knowledge management and organizational performance in selected oil companies in Nigeria. PhD thesis in the department of Business Administration, Delta State University, Abraka (Unpublished)
18. Odiri, V.I.O. (2014b). Towards communal peace and unity in Nigeria. Journal of Social and Management Sciences, 9(2), 36-41
19. Odiri, V.I.O. (2015). Effect of inventory management techniques on sales effectiveness in Nigerian Breweries Plc. Ilorin Journal of Management Sciences, 2(2), 73-80
20. Odiri, V.I.O. (2016a). Motivational incentives and firm’s performance in Nigeria: An empirical analysis. Journal of Academic Research in Economics, Spirut-Haret University, Romania, 8(1), 127-134
21. Odiri, V.I.O. (2016b). Participative leadership and organizational performance: An empirical analysis of quoted oil firms on the Nigerian Stock Exchange. Journal of Academic Research in Economics, 8(2), 287-293
22. Odiri, V.I.O. (2019). Human capital development as correlate of employee performance in Nigeria. Nigerian Journal of Management Technology and Development, 10(1), 9-19
23. Odiri, V.I.O. (2020). Information communication technology and organizational performance: Experience from Nigerian manufacturing subsector. Journal of Social and Management Sciences,15(1), 92-98
24. Okoro, G.E. & Ekwueme, C.M. (2021). Is accounting alchemy still the right medicine for firm’s earnings and book value? Evidence from sub-Saharan Africa. Mackenzie Management Review, Universidade Presbiteriana Mackenzie, 22(3), 1-27
25. Okoro, G.E. (2014). Augmented dickey fuller and Johansen co-integration tests of oil price volatility and stock price in emerging capital market: A case of Nigeria. International Journal of Management and Business Research, Faculty of Management and Economics, 4(4), 265-271
26. Onyali, C. I. & Okafor, T. G. (2018). Firm attributes and corporate environmental performance: Evidence from quoted industrial firms on Nigerian Stock Exchange. Scholars Journal of Economics, Business and Management, 5(9), 854-863.
27. Oseifuah, E. (2018). Global financial crisis, working capital management and profitability of non-financial firms listed on the Johannesburg Stock exchange, South Africa. International Academic Journal of Economics and Finance,2, 92-111.
28. Umenzekwe, P.C., Okoye, E.I. &Aggreh, M. (2021). Working capital management and financial performance: Evidence from selected Nigerian manufacturing firms. Journal of Contemporary Issues in Accounting, 2(1), 1-13
29. Uwaoma. I. & David .A,W. (2017). Working capital management and firms financial performance of oil companies in Nigeria.  IOSR Journal of Business and Management, 19(01), 1–17.