Date of Conferral
Dr. Mohammad Sharifzadeh
Many Nigerian firms have faced working capital management (WCM) inconsistencies, which have remained a source of tremendous concern in the face of high competition. In this study, the research problem explored was how inefficient working capital policies are still negatively affecting shareholders' wealth several years after the economic crisis, constraining sustainable development. The purpose of this quantitative research study was to examine how corporate governance has affected WCM within Nigerian organizations. The research question was about how corporate governance practices expand WCM efficiency. A random sample of 89 Nigerian organizations was used, and publicly available ethical ratings and financial information data on the companies involved were obtained. This quantitative study utilized a multiple regression methodology to determine the extent to which CEO duality, CEO tenure, board size (BS), and an audit committee (AC) can predict WCM performance. The findings specifically determined that board size and audit committee size were significantly related to WCM, while CEO tenure and CEO duality were not related to WCM. The results were consistent with previous studies suggesting that the impact of corporate governance in Nigerian organizations relates to WCM. The results of this study may help Nigerian organizations adopt and operate an appropriate corporate governance structure that will enhance their organizational effectiveness, aid business managers in allocating resources, and allow them to continue their corporate social responsibility missions of providing services to their communities and transforming society.