neffective cash management has been a recurring managerial problem raising fundamental
concerns on competencies and ability of managers to managing corporate assets. While lack
of optimal assets utilization and defective credit policies in consumer goods manufacturing
companies had resulted to insufficient corporate performance, leading to lower earnings per
share. This study sought to investigate the effect of cash management on the earnings per
share of consumer goods manufacturing companies listed in Nigeria.
The study explored ex-post facto research design. The population consisted of 20 consumer
goods manufacturing companies listed on the Nigerian Stock Exchange as at 31st December
2019. Ten consumer goods manufacturing companies were selected using random sampling
technique. Data were extracted from published financial statements of the sampled
companies, while the validity and reliability of the data were premised on the scrutiny and
certification by the external auditors. Descriptive statistics and inferential statistics were
used for the data analysis.
The study revealed that earnings per share of consumer goods manufacturing companies in
Nigeria were significantly affected by cash management. Results showed that cash
management had a positive significant effect on earnings per Share of the companies, (AdjR2
= 0.0121; Wald-Chiz (4, 95) =35.88; P-value = 0.000).
The study concluded that cash management had positive affect on earnings per share of
consumer goods manufacturing companies in Nigerian. The study recommended that
shareholders, managers, policy makers, and other stakeholders should create investible
business environment and opportunities in Nigeria. Managers should ensure an effective
and efficient credit policies to maximize both receivables and payables periods to ensure
effective cash management to guarantee improved earnings of consumer goods
manufacturing companies listed in Nigeria