Economics, Econometrics and Finance
6 years ago

Reducing Cash Conversion Cycle Boosts Profitability for Insurance Companies in Nigeria

DOAJ (DOAJ: Directory of Open Access Journals)
Effect of Cash Conversion Cycle on the Profitability of Public Listed Insurance Companies
E. Chuke Nwude, Elias Igwebuike Agbo, Christian Ibe-Lamberts Christian Ibe-Lamberts

Paper Summary

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The article explores how quickly insurance companies can turn their money into sales, known as the Cash Conversion Cycle (CCC), and how it affects their profitability. By studying Nigerian insurance firms from 2000 to 2011, the researchers found that companies with a shorter CCC were more profitable. This means that reducing the number of days it takes to convert cash into sales can help insurance companies make more money.