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                <text>This study explored the interactions between liquidity and the financial performance of quoted non-financial firms in Ghana. The study was correlational as it sought to examine the relationship between liquidity and the firms’ viability. From the Pearson Product-Moment Correlation Coefficient technique of data analysis, liquidity had a significant relationship with the firms’ financial performance as measured by ROA, but insignificant relationship with the firms’ financial performance as measured by ROE and ROCE. Based on the findings, the study recommended among others that, the firms can improve their final bottom-line by proficiently handling their liquid resources.</text>
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                <text>Liquidity and firms’ financial performance nexus: panel evidence from non-financial firms listed on the Ghana Stock Exchange</text>
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                <text>Kaodui Li, Mohammed Musah, Yusheng Kong, Isaac Adjei Mensah, Stephen Kwadwo Antwi, Jonas Bawuah, Mary Donkor, Cephas Paa Kwasi Coffie, Agyemang Andrew Osei</text>
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                <text>The aim of this research was to establish the nexus between liquidity and the viability of quoted non-financial establishments in Ghana. Panel data deduced from the published annual reports of 15 entities for the period 2008 to 2017 was employed for the study. Preliminarily, cross-sectional reliance, unit root, serial correlation, heteroscedasticity, co-integration, and causality tests were respectively performed. Our findings established that there exists no cross-sectional reliance, and input variables are stationary and co-integrated with no presence of heteroscedasticity and serial correlation. Estimates from the random effects generalized least squares (GLS) regression showed that liquidity has significant adverse effect on the firms’ Return on Equity (ROE) but had insignificantly positive effect on ROE when surrogated by the cash flow ratio. Finally, test based on causalities uncovered that, with the exception of Current …</text>
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                <text>This study sought to explore the trade-off between liquidity and the profitability of non-financial firms listed on the Ghana Stock Exchange (GSE). A panel data extracted from the audited and published annual reports of fifteen (15) selected firms for the period 2008 to 2017 was used for the study. In the study, liquidity was surrogated by the Cash Flow Ratio (CFR) and the Cash Ratio (CaR), whilst profitability was proxied by Return on Capital Employed (ROCE). After undertaken some diagnostic and specification tests to address the basic assumptions of the Classical Linear Regression Model (CLRM), the study uncovered that, cash flow ratio had a significantly positive effect on the firms’ profitability as measured by ROCE [β= 0.1050416,(p= 0.038)&lt; 0.05], but the cash ratio had an insignificantly negative influence on the firms’ profitability as measured by ROCE [β=-0.0805403,(p= 0.306)&gt; 0.05]. It was further discovered that, the cash flow ratio and the cash ratio had a combined significant effect on the firms’ profitability as measured by ROCE [Wald chi2 (1)= 7.43,(p= 0.0244)&lt; 0.05]. In order to ensure continuous survival and success, the firms should not play with the issue of liquidity management. The entities are expected to maintain an optimal liquidity level that will be capable of performing the ‘twin’role of meeting their financial obligations and at the same time maximizing their shareholders’ wealth. This optimal liquidity level could be obtained if the establishments are to meet the standards set by the Ghana Stock Exchange (GSE). Adhering to these standards will help the firms to reduce the cases of financial distress. In other words, the firms should …</text>
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