“…Adopting the research of Maqbool & Bakr [19], Prasaad et al, [20], Majanga [21], Yu et al, [22], Ganvir & Dwivendi [23], Bhat & Bhattacharya [24], Oyewobi et al, [25], Hall [26], Anwar [2], Afrifa & Padachi [27], financial performance in this study was measured using ROCE (Return on Capital Employed).…”