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LIQUIDITY MANAGEMENT IN THE SERVICE INDUSTRIES
ABSTRACT: The significance of the service industries in the economic development of Nigeria cannot be undermined. However, liquidity problems constitute a major constraint on the development of this industry. This study addresses the practical measures in the service industries needs to adopt and effectively manage their liquid resources especially taking cognizance of the current economic recession in the country. This study shows that economic recession and over investment in stock are the major causes of liquidity problems in the service industries. The researcher discovered that the firms in the service industries have adopted several measures in an attempt to solve the problem. The basis of recommendation is a more efficient liquid management practice as well as the need for the government to revert the distress economy. The recommendation outlined in Chapter three, if meticulously implemented, will ease the liquidity problem of service industry.
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION 1
STATEMENT OF THE PROBLEM 2
OBJECTIVES OF THE STUDY 3
SIGNIFICANCE OF THE STUDY 3
DELIMITATION, SCOPE AND LIMITATIONS 4
DEFINITION OF TERMS 5
CHAPTER TWO
REVIEW OF RELATED LITERATURE 7
2.1 THE CONCEPT OF LIQUIDITY 7
LIQUIDITY VS PROFITABILITY 8
ENHANCING LIQUIDITY THROUGH
EFFICIENT MANAGEMENT OF CASH AND MARKETABLE SECURITIES. 9
ENHANCING LIQUIDITY THROUGH EFFICIENT RECEIVABLE MANAGEMENT 11
ENHANCING LIQUIDITY THROUGH EFFICIENT INVENTORY MANAGEMENT 14
LIQUIDITY CIRCULATION FLOW SPEED’S 16
CHAPTER THREE
FINDINGS, RECOMMENDATIONS AND CONCLUSION19
3.1 DISCUSSION OF FINDINGS 19
CONCLUSION 19
BIBLIOGRAPHY 21
CHAPTER ONE
Liquidity has been given different definitions by different authors. Most definitions revolve around the fact that liquidity is the ability to convert assets into cash or obtain cash required. Hornby et al (1982) defined liquidity as the state of being able to raise funds easily by selling assets. “Hidmarch (1981) regards liquidity as closely related to solvency. Researchers view liquidity as the availability of cash resources required to meet the obligation of an organization as they take due.
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