Liquidity and Firms’ Financial Performance Nexus: Panel Evidence From Non-Financial Firms Listed on the Ghana Stock Exchange

Li, Kaodui; Musah, Mohammed; Kong, Yusheng; Mensah, Isaac Adjei; Antwi, Stephen Kwadwo; Bawuah, Jonas; Donkor, Mary; Coffie, Cephas Paa Kwasi; Osei, Agyemang Andrew

doi:10.1177/2158244020950363

Cited by 41 publications

(31 citation statements)

References 43 publications

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“…Relying on the discoveries portrayed in Tables 7 and 8, the series were significantly affiliated in the long-run. This outcome collaborates those of Li et al. (2020) and Erdoğan et al.…”

Section: Resultssupporting

confidence: 81%

“…(2019) and Musah et al. (2020a), but contrasts that of Li et al. (2020) whose investigation on listed non-financial body corporates in Ghana, affirmed independencies among the residuals of the studied model.…”

Section: Resultsmentioning

confidence: 71%

“…However, according to Mensah et al. (2019) and Li et al. (2020), the affirmation of long-run equilibrium connections between variables implies, there might be some degree of causations amongst them.…”

Section: Introductionmentioning

confidence: 99%

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RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

et al. 2020

Energy Exploration & Exploitation

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The purpose of this study was to examine the nexus amid economic growth, energy consumption and carbon emissions in G20 countries for the period 1992 to 2014. In order to obtain valid and reliable outcomes, more robust econometric techniques were employed. From the results, the studied panel was heterogeneous and cross-sectionally dependent. Also, the series of observed variables were first-differenced stationary and co-integrated. The key findings from the CCEMG and the AMG regression estimators adopted showed that economic growth and energy consumption promoted the emission of carbon in the countries. In addition, urbanization and foreign direct investments as control variables escalated the rate of the countries’ CO2 emissions. From the discoveries of the Dumitrescu and Hurlin panel causality test, a feedback causality between economic growth and CO2 emissions; energy consumption and CO2 emissions; and between urbanization and CO2 emissions were correspondingly unveiled. Howerver, a one-way caual link was evidenced from foreign direct investments to CO2 emissions. This exploration is vital because it will propel the countries to formulate policies that could help them to minimize their dependence on environmentally unfriendly energy sources, while promoting the usage of clean energies like solar, wind, biogas, biomass and hydropower among others. The study is also pertinent because it will aid the countries to plan, organize and implement environmental policies in compliance to their macroeconomic objectives. When this is accomplished, energy conservation policies implemented to minimize the emanation of CO2 will improve the countries’ economic growth.

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“…Relying on the discoveries portrayed in Tables 7 and 8, the series were significantly affiliated in the long-run. This outcome collaborates those of Li et al. (2020) and Erdoğan et al.…”

Section: Resultssupporting

confidence: 81%

Section: Resultsmentioning

confidence: 71%

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RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

et al. 2020

Energy Exploration & Exploitation

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“…As indicated by Li et al (2020b) and Mensah et al (2020), dealing with models with crosssectionally correlated regressors could yield bias and inaccurate results. Therefore, as a first step, the Pesaran (2015) cross-sectional reliance test was undertaken to examine correlations in the residual terms.…”

Section: Heterogeneity and Cross-sectional Dependence Tests Resultsmentioning

confidence: 99%

The link between urbanization, energy consumption, foreign direct investments and CO₂ emanations: An empirical evidence from the emerging seven (E7) countries

Musah

et al. 2021

Energy Exploration & Exploitation

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This study investigated the link between energy consumption (EC), foreign direct investments (FDI), urbanization (URB) and CO2 emissions in the emerging seven (E7) countries for the period 1991 to 2014. The exploration made a methodological contribution by employing modern econometric methods that are robust to the issues of cross-sectional dependence and slope heterogeneity, so as to obtain valid and reliable outcomes. From the results, the panel under consideration was heterogeneous and cross-sectionally correlated. Also, the series were first differenced stationary and cointegrated in the long-run. The DCCEMG and the DCCEPMG estimators were engaged to explore the long-run elastic effects of the covariates on the response variable, and from the results, EC and URB were key promoters of CO2 effusions in the countries. However, FDI mitigated the emanation of CO2 in the nations. Additionally, economic growth (GDP) and population growth (POP) escalated the emittance of CO2 in the E7. On the D-H causality test outcomes, a feedback causality amid POP and CO2 effusions; GDP and CO2 excretions; FDI and CO2 emissivities; and between URB and CO2 secretions were discovered. Finally, a one-way causation from URB to the effluents of CO2 was unfolded. Based on the verdicts, policy suggestions were proposed to help abate the rate of CO2 exudations in the countries.

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“…However, the empirical evidence on the influence of liquidity on performance is inconclusive. A study was done by Li, Musah, Kong, Adjei Mensah, et al, (2020) indicates a negative relationship between liquidity and performance. It argued that having higher liquidity implies an inefficient utilisation of asset in generating profits.…”

Section: Liquidity and Company Performancementioning

confidence: 99%

Company Performance during Covid-19: Impact of Leverage, Liquidity and Cash Flows

Shaharuddin¹,

Mahmud

Azhari

et al. 2021

E-BPJ

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Due to the movement control order, company performance is predicted to be highly affected by Covid-19 pandemic. Thus, this study seeks to examine the impact of leverage, liquidity and cash flows from operations towards company performance during the Covid-19 pandemic. Using secondary data from public listed companies on Bursa Malaysia with two financial quarters in the financial year 2020, it is found that there is a significant impact of liquidity and cash flows from operations on company performance. This study may contribute as additional literature to future studies and provide sights to regulators in dealing with the pandemic outbreak. Keywords: Covid-19; leverage; liquidity; cash flows eISSN: 2398-4287© 2021. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BYNC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians/Africans/Arabians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI:

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Liquidity and Firms’ Financial Performance Nexus: Panel Evidence From Non-Financial Firms Listed on the Ghana Stock Exchange

Cited by 41 publications

References 43 publications

RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

The link between urbanization, energy consumption, foreign direct investments and CO₂ emanations: An empirical evidence from the emerging seven (E7) countries

Company Performance during Covid-19: Impact of Leverage, Liquidity and Cash Flows

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Liquidity and Firms’ Financial Performance Nexus: Panel Evidence From Non-Financial Firms Listed on the Ghana Stock Exchange

Cited by 41 publications

References 43 publications

RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

RETRACTED: A heterogeneous analysis of the nexus between energy consumption, economic growth and carbon emissions: Evidence from the Group of Twenty (G20) countries

The link between urbanization, energy consumption, foreign direct investments and CO2 emanations: An empirical evidence from the emerging seven (E7) countries

Company Performance during Covid-19: Impact of Leverage, Liquidity and Cash Flows

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Product

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The link between urbanization, energy consumption, foreign direct investments and CO₂ emanations: An empirical evidence from the emerging seven (E7) countries