أثر كفاءة إدارة رأس المال العامل على ربحية الشركات : دراسة تحليلية لعينة من الشركات المدرجة في سوق العراق للأوراق المالية للفترة 2009-2018

Abstract EN

The research aims to analyze the efficiency of working capital management represented by (cash retention ratio, average inventory retention period, average receivable collection period, average debt repayment period).

And its impact on the profitability of companies measured by the rate of return on assets for a sample of industrial and agricultural companies listed on the market Iraq Stock Exchange, during the period (2009-2018).

The data for the research sample companies were analyzed using financial ratios to calculate the cash cycle, average collection period, average inventory retention period, stock turnover rate and debt repayment period as independent variables (and corporate profitability) represented by the rate of return on assets as a dependent variable.

Then testing the research hypotheses using simple regression analysis and multiple regression to identify the effect between the independent variables and the dependent variable.

The results indicate the existence of a positive relationship between the period of collecting receivables and the return on assets, and this is consistent with most studies that have studied the relationship between these variables, as well as the existence of a negative relationship between the average period of inventory retention and the return on assets.

The most prominent recommendations stipulated a continuous review of the statements of the reconstruction schedule of accounts receivable and inventory analysis statements in terms of type (raw materials, semi-manufactured, and finished materials).

And reviewing financial investment statements continuously to get rid of shares that are constantly declining in prices and that achieve a loss in order to enhance the profitability of the company and maximize worth.