The Impact of Efficiency of Working Capital Management on Financial Performance An applied study on Libya's Industrial Sector
PhD Candidante Joma Omar M Abdalla, Prof Dr. Bojan Ðordevic, Mohamed Omar Sharif, PhD

Abstract
The policies the companies follow in managing the working capital have an impact on their financial performance all well as on their liquidity, therefore; this study came to identify the relationship between the efficiency of working capital management and the financial performance of the industrial companies in Libya. It is a modern study to be conducted on developing countries such as Libya. The study revealed that there is a relationship between the efficiency of working capital management (as represented in the average inventory period, average collection period, and average payment period) and the financial performance represented in the returns of assets and net profit margin. Forty Libyan industrial companies selected as a sample for the period (2015-2020). The statistical tests are carried out to examine the hypotheses of the study by using the multiple regression equation in order to identify the impact between the independent variables and dependent ones, a set of results were detected asfollows:

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