65 THE EFFECT OF C2C CYCLE ON THE PROFITABILITY OF LISTED NIGERIAN CONGLOMERATE COMPANIES Sunusi Garba 1 Nasir Aminu Ibrahim 2 Suleiman Ibrahim Kassim 3 1, 2, 3 Centre for Entrepreneurship Development, Federal University Dutse, Jigawa, Nigeria Accepted date: 26 November 2016, Published date: 31 December 2016 __________________________________________________________________________________________ Abstract: This study examines the relationship between C2C cycle and firm profitability for the Nigerian conglomerate sector. The study is undertaken based on the historical panel data analysis. To achieve this objective; an ex-post facto research design was employed. Data were generated from secondary sources, specifically, the annual reports and accounts of quoted firms from 2003 to 2012. The population of the study comprises of six Conglomerate companies listed on the Nigerian Stock Exchange. Descriptive statistics, Pearson correlation, as well as fixed-effect and random-effect Generalised Least Square (GLS) regression techniques alongside with Hausman Specification Test as the decision rules were utilised as tools of analysis in the study. The findings establish that C2C cycle is positively related to the efficiency of the listed Conglomerate Firms in Nigeria, though the relationship is statistically insignificant. Management has to attempt to uphold cash operating cycle. Since, as showed in this study the lengthier the C2C cycle, the higher gainful the businesses turn out to be; implying that a long operating cycle is more appropriate and logical as it influence profitability. Keywords: C2C cycle, Profitability, and Conglomerate Companies ___________________________________________________________________________ Introduction Cash controlling is a crucial part of Working Capital Management (WCM). As said by Lee (2001), cash administration encompasses the management of current assets and current liabilities, and the generating of money to fund a business. Hence, Cash movement management is fundamental to guaranteeing that a business is liquid and up to meet its current liabilities. This is functioning over the active controlling of revenues and costs payment, money steadiness and money allocations among the various portions of the business. Cash-to-Cash (C2C) cycle is an exclusive economic performance metric that points out exactly how firm is handling their funds across the supply chain. Admittedly, these definitions ignore depreciation and consider revenue tariffs inside operational expenses. Hence, the components of C2C cycle are Inventory Volume: 1 Issues: 2 [December, 2016] pp.65-78] International Journal of Accounting, Finance and Business eISSN: 0128-1844 Journal homepage: www.ijafb.com