Liquidity Management and Financial Performance of SACCOs in Bushenyi District
Keywords:
Liquidity management, financial performance, SACCOS, Bushenyi district
Abstract
The main objective of this paper is to examine the association between elements of liquidity management and the financial performance of SACCOs in Bushenyi District. This research was conducted through a cross-sectional survey involving a sample of 72 Savings and Credit Cooperative Societies (SACCOs) located in the Bushenyi District. A sample of 61 SACCOs operating in Bushenyi was determined using Krejcie and Morgan's Table, with accountants, managers, and credit officers serving as the units of analysis, resulting in a total population of 183 respondents. The research instrument's validity was assessed using the content validity index, and its reliability was evaluated through Cronbach's alpha coefficient, a measure of the consistency in obtaining similar results from the same respondents when administering the instrument at different times. In accordance with the research objectives, inferential statistics, specifically correlation and regression analyses, were conducted. The findings reveal a statistically significant positive correlation between cash ratios, liquidity ratios and financial performance. Lastly, the research outcomes demonstrate a statistically significant positive relationship between the comprehensive liquidity management elements and financial performance. This suggests that any favorable change in the management of liquidity within SACCOs is associated with a positive change in financial performance. Therefore, enhancing liquidity management can aid in maximizing the use of cash on hand, while efficient cash budgeting can guarantee good planning and resource allocation. Due to their weakly positive associations with liquidity management, debtor management, as well as bank reconciliation statements, must also be considered; this will improve the financial performance of SACCOs.
Downloads
Download data is not yet available.
References
ACCA. (2012) Cash Budget. Retrived from http:// www.accaglobal.com/content/dam/acca/global/PDF-students/ 2012s/sa_f2fma-cash_budget.pdf.
African Confederation of Cooperative Savings and Credit Association (2011). Using cooperative model to tackle challenges in Africa, monthly news letter September, 2011
Aghaei, M., & Shakeri, A. (2010). Application cash flow ratios, cash flows and accrual accounting in predicting future operating cash flow in listed companies of Tehran Stock Exchange. Financial Accounting, 2(5), 1-16.
Ahmad, Ijaz, Abdul Saboor, and Muhammad Nouman. 2018. Relationship between Corporate Governance, Management Ownership and Capital Structure: Evidence from Pakistan Stock Exchange. SSRN Electronic Journal 3: 1–13.
Akter, A., & Mahmud, K. (2014). Liquidity-profitability relationship in Bangladesh banking industry International Journal of Empirical Finance, 2(4), 143-151
Alshatti, A.S. (2015). The effect of credit risk management on financial performance of the Jordanian commercial banks. Investment Management and Financial Innovations, 12(1): 338-339.
Al-Debi’e, M.M. 2011. Working Capital Management and Profitability: The Case of Industrial Firms in Jordan. European Journal of Economics, Finance, and Administrative Sciences 36: 75–86.
Allman-Ward, M., & Sagner, J. (2003).Essentials of managing corporate cash. New Jersey: John Wiley & Sons, Inc.
Amadeo, K. (2013). Cultural diversity in the workplace. The Balance. http://useconomy.about.com/od/suppl1/g/Cultural-Diversity.htm
Amengor, C. (2010), Importance of Liquidity and Capital Adequacy to Commercial Banks, A Paper Presented at Induction Ceremony of ACCE, UCC Campus.
AMFIU. (2013). The state of microfinance in Uganda
Ayodele, U., Thomas, T. and Raphael Ajayi, R., (2014) Impact of Credit Policy on the Performance of Nigerian Commercial Banks using Zenith Bank Plc. Research Paper.
Bhandari, S. B. and Iyer, R. (2013). Predicting business failure using cash flow based, Accounting and Finance.
Byusa, V & Nkusi, D. (2012) Effects of credit policy on bank performance in selected Rwandan Commercial banks. Rwanda Journal Volume 26, Series B: Social Sciences.
Brigham, E. F., & Houston, J. F. (2014a). Dasar-dasar Manajemen Keuangan Buku 1 (Edisi 11). Jakarta: Salemba Empat.
CGAP report, (2005). Consultative Group to Assist The Poor
Cheptumo, N. (2010). Response strategies to fraud related challenges by Barclays Bank of Kenya. Unpublished MBA project. The University of Nairobi.
Charitou, M, M. Elfani, and Lois, P. (2010), “The Effect of Working Capital Management on Firm's Profitability: Empirical Evidence From An Emerging Market”, Journal of Business & Economics Research, Volume 8, Number 12
Cronbach, L. J. (1947). Test “reliability”: its meaning and determination. Psychometrika, 1947,12, 1–16.
Darabi,R; Rezaei Jafari,A.(2012). The impact of the independent audit report provisions on the transparency of financial reporting, Journal of Management Accounting, No.13, pp. 79-96.
Dong, H. P., & Su, J. T. (2010).The relationship between working capital management and profitability. International Research Journal of Finance and Economic, 3(5), 62-71.
Dzapasi, F. D. (2020). The Impact of Liquidity Management on Bank Financial Performance in a subdued economic environment: A case of Zimbabwean Banking Industry. PM World Journal, IX(I), 2.
Edem, D. B. (2017). Liquidity Management and Performance of Deposit Money Banks in Nigeria (1986-2011): An Investigation. International Journal of Economics, Finance and Management Sciences, 5(3), 146-147.
Efobi R U (2008). The Impact of Capital Structure on Corporate Profitability in Nigeria.
Field, A. (2009) Discovering Statistics Using SPSS. 3rd Edition, Sage Publications Ltd., London.
Flosbach, J. (2015). Financial performance of microfinance institutions in Ghana and Uganda: Development and application of the Achievement Stages Model.Cambridge, Mass: MIT Press.
Habib, M. (2011). Supply Chain Management (SCM): Theory and Evolution, Supply Chain Management - Applications and Simulations. Prof. Dr. Md. Mamun Habib (Ed.), ISBN: 978-953-307250-0, InTech.
Hubarieva, I, Lebid, O, & Zuieva, O. (2017). Determining the priority sources for attracting deposits in the formation of the financial potential of banks: Banks and Bank Systems, vol. 12, no.3, pp.215-227.
Gathurithu, A.W. (2011). An investigation into the factors affecting marketing of Sacco products in Thika, Kenya. A research project submitted at Makerere University, Uganda.
Ghodrati, H. & Abyak, H. (2014), A study on the relationship between operational cash flow and return on stockholders. Quarterly Publication, 4 (7), 1551-1558
Grossman, R. (2010). Unsettled account: The evolution of banking in the industrialized world since 1800. Princeton University Press. p. 96.
Gryglewicz, S. (2011). A theory of corporate financial decisions with liquidity and solvency concerns. , 99(2), 365–384. doi:10.1016/j.jfineco.2010.09.010
Gaurav, S & Sarthak, R. (2009), “Crisis in Indian Agriculture: Review of Agrarian Crisis in India,” Indian Journal of Labour Economics, 52 (January), 180–84.
International Co-operative Alliance Annual Report (ICA). (2005)
Ismail L., (2016). Impact of working capital management on financial performance of SMEs across industries.
Kimathi, P. M. (2014). The Effect of Financing Strategies on the Liquidity of Savings and Credit Co-operatives Societies Licensed by SACCO Societies Regulatory Authority operating in Nairobi County. Nairobi: University of Nairobi
Kimotho, D. N, Gekara, M. (2016). Effect of credit risk management practices on financial performance of commercial banks in Kenya. International Journal of Economics and Finance 2(3):116-189.
khan, R., & Mutahhar Ali. (2016). Impact of Liquidity on Profitability of Commercial Banks in Pakistan: An Analysis on Banking Sector in Pakistan . Global Journal of Management and Business Research: C Finance.
Korkmaz, Ö. and Karaca, S. S. (2014). Financial determinants of firm profitability in manufacturing firms and application on BIST manufacturing firms. Ege Academic Review, 14(1), 21-29
Kzistami, M. (2011). Does leverage have a strong impact on profitability? International Journal of Governance, (1), 3.
Lartey, V. C., Antwi, S., & Boadi, E. K. (2013). The relationship between liquidity and profitability of listed banks in Ghana. International Journal of Business and Social Science, 4(3).
Maghimbi, S. (2010). Co-operatives in Tanzania mainland: Revive and growth. Coop Africa Working Paper no 14 Series on the status of co-operative Development in Africa. International Labour Office Dar es Salaam, Tanzania.
Mmari1, G. A & Thinyane, L. C. (2019). Analysis of Factors Influencing Financial Performance of Savings and Credit Co-operative Societies in Lesotho: Evidence From Maseru District. International Journal of Financial Research Vol.10, No.2; 2019
Maqsood, T. A. H. I. R., Anwar, M., Raza, A., Ijaz, M., & Shouqat, U. (2016). Impact of liquidity management on profitability in banking sector of Pakistan. International review of management and business research, 5(2), 643-652.
Mohamed, & Ali. (2013). relationship between budgeting and performance of remittance companies in somalia. educaational research international, 2, 7.
Mong’o, G. (2010). The relationship between cash-flows and profitability of commercial banks in Kenya, Unpublished MBA Project, University of Nairobi.
Mulwa, B. D. (2013). The Effect of Exchange Rate Volatility on Inflation Rates in Kenya MBA Thesis. University of Nairobi, 2013.
Mulani, J., Chi G., & Yang, J. (2015). Effects of the budgetary process on SMEs’ performance: An exploratory study based on selected SMEs in India. Research of Journal of Finance and Accounting, 6(14), 135-153.
Mumanyi, E. A. L. (2014). Challenges and opportunities facing SACCOs in the current devolved system of government of Kenya: A case study of Mombasa County. International Journal of Social Sciences and Entrepreneurship, 1 (9), 288-314.
Mutegi, M. (2012). Effect of Budgetary Controls on the Financial Performance of Construction Firms in Kenya .Unpublished MBA Thesis of University of Nairobi
Muthama.R.A.(2016)Effects of Cash Management Practices on Operational Performance of Selected Public Hospitals in Kisii County, Kenya.
Mvula, R. (2013). Common issues affecting performance of SACCO in Malawi. Report presented to SACCOS Board Chairpersons and Managers MUSCCO Managers Forum. [http://www.muscco.org/index.php?] Site visited on 23.11.2018.
Mwakajumilo, (2011). The Role of Informal Microfinance Institutions in Saving Mobilization, Investment and Poverty Reduction. A Case of Savings and Credit Cooperative Societies (SACCOS) in Tanzania from 1961-2008. A thesis submitted at the St. Clements University for the award of a PhD degree.
Nimer, M., Warrad, L. &Omari, R. (2013).The Impact of Liquidity on Jordanian Banks Profitability through Return on Assets.International Journal of Contemporary Research in Business, 5(7), 70-76.
Nwanyanwu, L.A. (2015). Cash Flow and Organizational Performance in Nigeria: Hospitality and Print Media Industries Perspective. European Journal of Business, Economics and Accountancy, 3(1): 66-78.
Ofei. A. K. (2001). Retooling credit unions: The case of credit union association of Ghana. International Labour Organization; ISBN 92-2-112804-0 Policy Studies Institute, Printer Publishers Limited (UK).
Ondieki, A. N. (2011). Effect of external financing on financial performance of savings and credit societies in Kenya
Onduso, E. O. (2013). The Effect Of Budgets On Financial Performance Of Manufacturing Companies In Nairobi County. New Business Journal, 7,46,74.
Olusola, A. J., Olugbenga, O. M., Adeoluwa, Z. O., & Oluwagbemiga, O. E. (2013). Accounting information on investment in Nigerian poultry agricultural sector. Research Journal of Finance and Accounting, Vol. 4(19).
Otieno S, Nyagol M, Onditi A (2016). Relationship between credit risk management and financial performance: Empirical Evidence from microfinance banks in Kenya. Research Journal of Finance and Accounting 7(6):80-84
Otley, D. (2002). Measuring performance: The accounting perspective. Business performance measurement: Theory and practice, 3-21.
Onuoha, L. N., & Amponsah, E. B. (2012). Bank reconciliation as a due process imperative for effective financial management. Canadian Social Science, 8(3), 52.
Priya, K., & Nimalathasan, B. (2013). “Liquidity Management and Profitability: A Case Study of Listed Manufacturing Companies in Sri Lanka,” International Journal of Technological Exploration and Learning (IJTEL),Vol 2 (4),pp.161-165,2013
Salim, B. F., & Bilal, Z. O. (2016). The impact of liquidity management on financial performance in Omani banking sector. International Journal of Accounting, Business and Economic Research, 14(1), 545-565
Sekaran, U., (2003), Research Methods for Business: A skill-Building Approach, Fourth Edition, Southern Illinois University of Carbondale
Simotwo, A. Nyang’au (2018) Effects of credit risk management on profitability of Savings and Cooperative societies in Kenya -International Journal on Academic and Research August 2018: www.ijarke.com
Soaga, H. G. (2012). Basics of cash management for financial management and reporting. Available at SSRN 2200432.
UCA Annual report. (2016). Annual Report UCA Funds Management Limited
Uwonda, G., Okello, N., & Okello .N.(2013) Cash Flow Management utilization by Small and Mediumenterprises (SMEs) in Northern Uganda. Merit Research Journal of Accounting, Auditing, Economics andFinance,1(5) 67-80
Wanjala, S.N; Bwisa, H.M; Wandra, R.W; Wanyama, K.W & Wanjala, A.S (2014). Effect of Bookkeeping Management Practices on Business Performance of Micro and Small Butchery Enterprises in Kimilili SubCounty, Bungoma, Kenya. The International Journal Of Business & Management. 2(9).
Wijewardena, H., & De Zoysa, A. (2001). The impact of financial planning and control on performance of SMEs in Australia. journal of enterprising culture, 353-365.
African Confederation of Cooperative Savings and Credit Association (2011). Using cooperative model to tackle challenges in Africa, monthly news letter September, 2011
Aghaei, M., & Shakeri, A. (2010). Application cash flow ratios, cash flows and accrual accounting in predicting future operating cash flow in listed companies of Tehran Stock Exchange. Financial Accounting, 2(5), 1-16.
Ahmad, Ijaz, Abdul Saboor, and Muhammad Nouman. 2018. Relationship between Corporate Governance, Management Ownership and Capital Structure: Evidence from Pakistan Stock Exchange. SSRN Electronic Journal 3: 1–13.
Akter, A., & Mahmud, K. (2014). Liquidity-profitability relationship in Bangladesh banking industry International Journal of Empirical Finance, 2(4), 143-151
Alshatti, A.S. (2015). The effect of credit risk management on financial performance of the Jordanian commercial banks. Investment Management and Financial Innovations, 12(1): 338-339.
Al-Debi’e, M.M. 2011. Working Capital Management and Profitability: The Case of Industrial Firms in Jordan. European Journal of Economics, Finance, and Administrative Sciences 36: 75–86.
Allman-Ward, M., & Sagner, J. (2003).Essentials of managing corporate cash. New Jersey: John Wiley & Sons, Inc.
Amadeo, K. (2013). Cultural diversity in the workplace. The Balance. http://useconomy.about.com/od/suppl1/g/Cultural-Diversity.htm
Amengor, C. (2010), Importance of Liquidity and Capital Adequacy to Commercial Banks, A Paper Presented at Induction Ceremony of ACCE, UCC Campus.
AMFIU. (2013). The state of microfinance in Uganda
Ayodele, U., Thomas, T. and Raphael Ajayi, R., (2014) Impact of Credit Policy on the Performance of Nigerian Commercial Banks using Zenith Bank Plc. Research Paper.
Bhandari, S. B. and Iyer, R. (2013). Predicting business failure using cash flow based, Accounting and Finance.
Byusa, V & Nkusi, D. (2012) Effects of credit policy on bank performance in selected Rwandan Commercial banks. Rwanda Journal Volume 26, Series B: Social Sciences.
Brigham, E. F., & Houston, J. F. (2014a). Dasar-dasar Manajemen Keuangan Buku 1 (Edisi 11). Jakarta: Salemba Empat.
CGAP report, (2005). Consultative Group to Assist The Poor
Cheptumo, N. (2010). Response strategies to fraud related challenges by Barclays Bank of Kenya. Unpublished MBA project. The University of Nairobi.
Charitou, M, M. Elfani, and Lois, P. (2010), “The Effect of Working Capital Management on Firm's Profitability: Empirical Evidence From An Emerging Market”, Journal of Business & Economics Research, Volume 8, Number 12
Cronbach, L. J. (1947). Test “reliability”: its meaning and determination. Psychometrika, 1947,12, 1–16.
Darabi,R; Rezaei Jafari,A.(2012). The impact of the independent audit report provisions on the transparency of financial reporting, Journal of Management Accounting, No.13, pp. 79-96.
Dong, H. P., & Su, J. T. (2010).The relationship between working capital management and profitability. International Research Journal of Finance and Economic, 3(5), 62-71.
Dzapasi, F. D. (2020). The Impact of Liquidity Management on Bank Financial Performance in a subdued economic environment: A case of Zimbabwean Banking Industry. PM World Journal, IX(I), 2.
Edem, D. B. (2017). Liquidity Management and Performance of Deposit Money Banks in Nigeria (1986-2011): An Investigation. International Journal of Economics, Finance and Management Sciences, 5(3), 146-147.
Efobi R U (2008). The Impact of Capital Structure on Corporate Profitability in Nigeria.
Field, A. (2009) Discovering Statistics Using SPSS. 3rd Edition, Sage Publications Ltd., London.
Flosbach, J. (2015). Financial performance of microfinance institutions in Ghana and Uganda: Development and application of the Achievement Stages Model.Cambridge, Mass: MIT Press.
Habib, M. (2011). Supply Chain Management (SCM): Theory and Evolution, Supply Chain Management - Applications and Simulations. Prof. Dr. Md. Mamun Habib (Ed.), ISBN: 978-953-307250-0, InTech.
Hubarieva, I, Lebid, O, & Zuieva, O. (2017). Determining the priority sources for attracting deposits in the formation of the financial potential of banks: Banks and Bank Systems, vol. 12, no.3, pp.215-227.
Gathurithu, A.W. (2011). An investigation into the factors affecting marketing of Sacco products in Thika, Kenya. A research project submitted at Makerere University, Uganda.
Ghodrati, H. & Abyak, H. (2014), A study on the relationship between operational cash flow and return on stockholders. Quarterly Publication, 4 (7), 1551-1558
Grossman, R. (2010). Unsettled account: The evolution of banking in the industrialized world since 1800. Princeton University Press. p. 96.
Gryglewicz, S. (2011). A theory of corporate financial decisions with liquidity and solvency concerns. , 99(2), 365–384. doi:10.1016/j.jfineco.2010.09.010
Gaurav, S & Sarthak, R. (2009), “Crisis in Indian Agriculture: Review of Agrarian Crisis in India,” Indian Journal of Labour Economics, 52 (January), 180–84.
International Co-operative Alliance Annual Report (ICA). (2005)
Ismail L., (2016). Impact of working capital management on financial performance of SMEs across industries.
Kimathi, P. M. (2014). The Effect of Financing Strategies on the Liquidity of Savings and Credit Co-operatives Societies Licensed by SACCO Societies Regulatory Authority operating in Nairobi County. Nairobi: University of Nairobi
Kimotho, D. N, Gekara, M. (2016). Effect of credit risk management practices on financial performance of commercial banks in Kenya. International Journal of Economics and Finance 2(3):116-189.
khan, R., & Mutahhar Ali. (2016). Impact of Liquidity on Profitability of Commercial Banks in Pakistan: An Analysis on Banking Sector in Pakistan . Global Journal of Management and Business Research: C Finance.
Korkmaz, Ö. and Karaca, S. S. (2014). Financial determinants of firm profitability in manufacturing firms and application on BIST manufacturing firms. Ege Academic Review, 14(1), 21-29
Kzistami, M. (2011). Does leverage have a strong impact on profitability? International Journal of Governance, (1), 3.
Lartey, V. C., Antwi, S., & Boadi, E. K. (2013). The relationship between liquidity and profitability of listed banks in Ghana. International Journal of Business and Social Science, 4(3).
Maghimbi, S. (2010). Co-operatives in Tanzania mainland: Revive and growth. Coop Africa Working Paper no 14 Series on the status of co-operative Development in Africa. International Labour Office Dar es Salaam, Tanzania.
Mmari1, G. A & Thinyane, L. C. (2019). Analysis of Factors Influencing Financial Performance of Savings and Credit Co-operative Societies in Lesotho: Evidence From Maseru District. International Journal of Financial Research Vol.10, No.2; 2019
Maqsood, T. A. H. I. R., Anwar, M., Raza, A., Ijaz, M., & Shouqat, U. (2016). Impact of liquidity management on profitability in banking sector of Pakistan. International review of management and business research, 5(2), 643-652.
Mohamed, & Ali. (2013). relationship between budgeting and performance of remittance companies in somalia. educaational research international, 2, 7.
Mong’o, G. (2010). The relationship between cash-flows and profitability of commercial banks in Kenya, Unpublished MBA Project, University of Nairobi.
Mulwa, B. D. (2013). The Effect of Exchange Rate Volatility on Inflation Rates in Kenya MBA Thesis. University of Nairobi, 2013.
Mulani, J., Chi G., & Yang, J. (2015). Effects of the budgetary process on SMEs’ performance: An exploratory study based on selected SMEs in India. Research of Journal of Finance and Accounting, 6(14), 135-153.
Mumanyi, E. A. L. (2014). Challenges and opportunities facing SACCOs in the current devolved system of government of Kenya: A case study of Mombasa County. International Journal of Social Sciences and Entrepreneurship, 1 (9), 288-314.
Mutegi, M. (2012). Effect of Budgetary Controls on the Financial Performance of Construction Firms in Kenya .Unpublished MBA Thesis of University of Nairobi
Muthama.R.A.(2016)Effects of Cash Management Practices on Operational Performance of Selected Public Hospitals in Kisii County, Kenya.
Mvula, R. (2013). Common issues affecting performance of SACCO in Malawi. Report presented to SACCOS Board Chairpersons and Managers MUSCCO Managers Forum. [http://www.muscco.org/index.php?] Site visited on 23.11.2018.
Mwakajumilo, (2011). The Role of Informal Microfinance Institutions in Saving Mobilization, Investment and Poverty Reduction. A Case of Savings and Credit Cooperative Societies (SACCOS) in Tanzania from 1961-2008. A thesis submitted at the St. Clements University for the award of a PhD degree.
Nimer, M., Warrad, L. &Omari, R. (2013).The Impact of Liquidity on Jordanian Banks Profitability through Return on Assets.International Journal of Contemporary Research in Business, 5(7), 70-76.
Nwanyanwu, L.A. (2015). Cash Flow and Organizational Performance in Nigeria: Hospitality and Print Media Industries Perspective. European Journal of Business, Economics and Accountancy, 3(1): 66-78.
Ofei. A. K. (2001). Retooling credit unions: The case of credit union association of Ghana. International Labour Organization; ISBN 92-2-112804-0 Policy Studies Institute, Printer Publishers Limited (UK).
Ondieki, A. N. (2011). Effect of external financing on financial performance of savings and credit societies in Kenya
Onduso, E. O. (2013). The Effect Of Budgets On Financial Performance Of Manufacturing Companies In Nairobi County. New Business Journal, 7,46,74.
Olusola, A. J., Olugbenga, O. M., Adeoluwa, Z. O., & Oluwagbemiga, O. E. (2013). Accounting information on investment in Nigerian poultry agricultural sector. Research Journal of Finance and Accounting, Vol. 4(19).
Otieno S, Nyagol M, Onditi A (2016). Relationship between credit risk management and financial performance: Empirical Evidence from microfinance banks in Kenya. Research Journal of Finance and Accounting 7(6):80-84
Otley, D. (2002). Measuring performance: The accounting perspective. Business performance measurement: Theory and practice, 3-21.
Onuoha, L. N., & Amponsah, E. B. (2012). Bank reconciliation as a due process imperative for effective financial management. Canadian Social Science, 8(3), 52.
Priya, K., & Nimalathasan, B. (2013). “Liquidity Management and Profitability: A Case Study of Listed Manufacturing Companies in Sri Lanka,” International Journal of Technological Exploration and Learning (IJTEL),Vol 2 (4),pp.161-165,2013
Salim, B. F., & Bilal, Z. O. (2016). The impact of liquidity management on financial performance in Omani banking sector. International Journal of Accounting, Business and Economic Research, 14(1), 545-565
Sekaran, U., (2003), Research Methods for Business: A skill-Building Approach, Fourth Edition, Southern Illinois University of Carbondale
Simotwo, A. Nyang’au (2018) Effects of credit risk management on profitability of Savings and Cooperative societies in Kenya -International Journal on Academic and Research August 2018: www.ijarke.com
Soaga, H. G. (2012). Basics of cash management for financial management and reporting. Available at SSRN 2200432.
UCA Annual report. (2016). Annual Report UCA Funds Management Limited
Uwonda, G., Okello, N., & Okello .N.(2013) Cash Flow Management utilization by Small and Mediumenterprises (SMEs) in Northern Uganda. Merit Research Journal of Accounting, Auditing, Economics andFinance,1(5) 67-80
Wanjala, S.N; Bwisa, H.M; Wandra, R.W; Wanyama, K.W & Wanjala, A.S (2014). Effect of Bookkeeping Management Practices on Business Performance of Micro and Small Butchery Enterprises in Kimilili SubCounty, Bungoma, Kenya. The International Journal Of Business & Management. 2(9).
Wijewardena, H., & De Zoysa, A. (2001). The impact of financial planning and control on performance of SMEs in Australia. journal of enterprising culture, 353-365.
Published
2023-11-19
How to Cite
Musiita , B., Boyi, B., Kisaalita, T., Mutungi, W., & Mbabazize, R. (2023). Liquidity Management and Financial Performance of SACCOs in Bushenyi District. Journal of Economics and Behavioral Studies, 15(3(J), 55-69. https://doi.org/10.22610/jebs.v15i3(J).3289
Issue
Section
Research Paper
Copyright (c) 2023 Musiita Benjamin, Ben Boyi, Thomas Kisaalita, Wycliffee Mutungi, Robert Mbabazize
This work is licensed under a Creative Commons Attribution 4.0 International License.
Author (s) should affirm that the material has not been published previously. It has not been submitted and it is not under consideration by any other journal. At the same time author (s) need to execute a publication permission agreement to assume the responsibility of the submitted content and any omissions and errors therein. After submission of a revised paper in the light of suggestions of the reviewers, editorial team edits and formats manuscripts to bring uniformity and standardization in published material.
This work will be licensed under Creative Commons Attribution 4.0 International (CC BY 4.0) and under condition of the license, users are free to read, copy, remix, transform, redistribute, download, print, search or link to the full texts of articles and even build upon their work as long as they credit the author for the original work. Moreover, as per journal policy author (s) hold and retain copyrights without any restrictions.
