Stephen, K. (2023). Determinants of Working Capital Management: A Case of Listed Manufacturing Companies in Tanzania. Economics & Management Information, 2(2), 1–8.

Determinants of Working Capital Management: A Case of Listed Manufacturing Companies in Tanzania

The study examines on the determinants of working capital management. The study came about following a necessity of managing working capital for efficient running of firm’s day- to-day operations. By taking samples of 10 manufacturing firms listed in Dar es Salaam stock exchange period of 2012-2023. It is found that there are positive and significant effects of firm size, profitability and cash conversion cycle on working capital, while leverage and capital expenditure revealed to be positive and insignificant determinant of working capital management. Morefurther, firm growth and cash flows found to be negative and significant determinant of working capital. It is from those results of analysis, this study recommends the financial managers to efficiently focus much on managing firm size, profitability and gross domestic product while less effort being subjected to firm leverage and capital expenditures to sales management.

working capital management firm size firm growth cash conversion cycle leverage operating cash flow profitability and capital expenditures


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Supporting Agencies

  1. Funding: Not applicable.