Financial Performance and Working Capital Management Practices in the Retail Sector: Empirical Evidence from South Africa

This study examines the relationship between financial performance and working capital management practices of South African retail firms listed on Johannesburg Stock Exchange. The sample comprised a panel 16 for period 2010–2019. A fixed-effects estimator was employed in analysis. proxied by average age inventory (AAI), collection (ACP), payment (APP), cash conversion cycle (CCC), while net operating profit margin (NOPM), return assets (ROA), equity (ROE). key findings documented following: (1) There is negative performance. (2) measures (NOPM ROA) found. (3) found to be negatively related equity. (4) variables were related. concludes that influenced firms. It recommended observe prudent optimal practices, as these influence their