Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery Company
The purpose of the study was to establish the impact of financial management practices on an organization’s financial performance. This analysis was driven by the organization’s declining profitability despite the efforts to deploy cost-cutting initiatives. As a consequence, the research looked int...
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| Format: | Article |
| Language: | English |
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EconJournals
2023-11-01
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| Series: | International Journal of Economics and Financial Issues |
| Subjects: | |
| Online Access: | http://econjournals.com/index.php/ijefi/article/view/14275 |
| _version_ | 1797300563937853440 |
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| author | Newman Wadesango Justice Walter Ruwende Lovemore Sitsha |
| author_facet | Newman Wadesango Justice Walter Ruwende Lovemore Sitsha |
| author_sort | Newman Wadesango |
| collection | DOAJ |
| description |
The purpose of the study was to establish the impact of financial management practices on an organization’s financial performance. This analysis was driven by the organization’s declining profitability despite the efforts to deploy cost-cutting initiatives. As a consequence, the research looked into the impact of existing procedures in working capital management, fixed assets management, capital structure and investment practices. The descriptive research design was used in the study and quantitative research approach was adopted. The administrative personnel at Hwange Colliery Company, which numbered forty six, comprised the population and a sample of 30 was used. A questionnaire survey with structured questions was utilized. In the study, regression analysis and Pearson coefficient of correlation were employed to determine the link between the factors of financial performance and financial management techniques. It emerged that the financial management strategies had a substantial impact on Hwange Colliery Company financial performance. To maintain resource efficiency, the research recommends improvements in the areas of accounts receivable management and investment decision that is leading to losses if wrong decision are made.
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| first_indexed | 2024-03-07T23:09:52Z |
| format | Article |
| id | doaj.art-4ab166a5d567439cac0eabf93e83fe04 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-03-07T23:09:52Z |
| publishDate | 2023-11-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-4ab166a5d567439cac0eabf93e83fe042024-02-21T14:44:05ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382023-11-0113610.32479/ijefi.14275Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery CompanyNewman Wadesango0Justice Walter Ruwende1Lovemore Sitsha2University of Limpopo, South AfricaMidlands State University, ZimbabweMidlands State University, Zimbabwe The purpose of the study was to establish the impact of financial management practices on an organization’s financial performance. This analysis was driven by the organization’s declining profitability despite the efforts to deploy cost-cutting initiatives. As a consequence, the research looked into the impact of existing procedures in working capital management, fixed assets management, capital structure and investment practices. The descriptive research design was used in the study and quantitative research approach was adopted. The administrative personnel at Hwange Colliery Company, which numbered forty six, comprised the population and a sample of 30 was used. A questionnaire survey with structured questions was utilized. In the study, regression analysis and Pearson coefficient of correlation were employed to determine the link between the factors of financial performance and financial management techniques. It emerged that the financial management strategies had a substantial impact on Hwange Colliery Company financial performance. To maintain resource efficiency, the research recommends improvements in the areas of accounts receivable management and investment decision that is leading to losses if wrong decision are made. http://econjournals.com/index.php/ijefi/article/view/14275Financial Management Practices, Fixed Assets Management, Capital Structure, Investment Practices |
| spellingShingle | Newman Wadesango Justice Walter Ruwende Lovemore Sitsha Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery Company International Journal of Economics and Financial Issues Financial Management Practices, Fixed Assets Management, Capital Structure, Investment Practices |
| title | Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery Company |
| title_full | Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery Company |
| title_fullStr | Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery Company |
| title_full_unstemmed | Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery Company |
| title_short | Evaluating the Impact of Financial Management Practices on an Organization’s Financial Performance: A Case Study of Hwange Colliery Company |
| title_sort | evaluating the impact of financial management practices on an organization s financial performance a case study of hwange colliery company |
| topic | Financial Management Practices, Fixed Assets Management, Capital Structure, Investment Practices |
| url | http://econjournals.com/index.php/ijefi/article/view/14275 |
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