THE IMPACT OF WORKING CAPITAL MANAGEMENT CONSERVATIVE STRATEGIES ON FINANCIAL PERFORMANCE OF HOTELS AND TOURISM CORPORATIONS LISTED ON THE AMMAN STOCK EXCHANGE “AN EMPIRICAL STUDY”
This study aimed to find the impact of working capital management strategies (conservative) on financial performance measured by return on assets of hotels and tourism corporations listed on the Amman Stock Exchange, in light of the control variable (company size). In order to achieve the objectives of the study, the required data were collected from the financial statements of the study sample, which includes eight hotel corporations listed on the Amman Stock Exchange across the period from 2010 to 2020, and statistical analysis of the data was conducted using the SPSS program. The study showed that there is a statistically significant negative impact of the conservative strategy on financial performance of hotels and tourism corporations listed on the Amman Stock Exchange, Also, the study showed that there are statistically significant differences between working capital management strategies applied in hotels and tourism corporations listed on the Amman Stock Exchange. The study concluded a set of recommendations, the most important of which are: corporations listed on the Amman Stock Exchange, that are willing to apply this study, should not follow conservative strategy, and they should take into consideration the possible high risks of aggressive strategy that may occur either in the current time or in the future.
working capital management, financial performance, hotels and tourism corporations, Amman Stock Exchange, return on assets, and Jordan.