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                <text>Therelationship between liquidity and the financial performance of non-financial firms listed on the ghana stock exchange (GSE)</text>
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                <text>The purpose of this study was to examine the relationship between liquidity and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE). Panel data extracted from the audited annual reports of 15 listed non-financial firms for the period 2008 to 2017 was used for the study. In the study, financial performance of the firms was measured through Return on Assets (ROA), Return on Equity (ROE) and Return on Capital Employed (ROCE), whilst the Current Ratio (CR), Quick Ratio (QR) and the Cash Flow Ratio (CFR) were used to proxy liquidity. The study adopted the descriptive and inferential techniques of data analyses. All the study variables were analyzed through the descriptive statistics of mean, standard deviation, variance, minimum and maximum values, range, skewness and kurtosis. Since the study was a correlational study, the Pearson Product-Moment Correlation …</text>
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                <text>The Relationship between Size and Firms’ Financial Performance: An Empirical Evidence from the Ghana Stock Exchange (GSE)</text>
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                <text>The goal of this study was to examine the association between size and the financial performance of nonfinancial firms listed on the Ghana Stock Exchange (GSE). Specifically, the study sought to; determine the affiliation between size and the firms’ financial performance as measured by Return on Assets (ROA); examine the association between size and the firms’ financial performance as measured by Return on Equity (ROE); and to establish the link between size and the firms’ financial performance as measured by Return on Capital Employed (ROCE). This study was a quantitative study. The study was quantitative because, it aimed to classify features, quantify them in terms of numbers and create a statistical model to test hypothesis and explain observations. The study was specifically correlational in nature because, it sought to explore the bivariate associations between size and the firms’ financial performance. The study was finally panel in nature because, it sought to gather information on the same study units at different points in time. Secondary panel data extracted from the audited and published annual reports of the Ghana Oil Company Ltd, Total Petroleum Ghana Ltd, Starwin Products Ltd, Camelot Ghana Ltd, Aluworks Ltd, Clydestone Ghana Ltd, African Champion Industries Ltd, Benson Oil Palm Plantation Ltd, Fan Milk Ltd, Guinness Ghana Breweries Ltd, Unilever Ghana Ltd, PZ Cussons Ghana Ltd, Produce Buying Company Ltd, Mechanical Lloyd Company Ltd and Sam Woode Ltd for the period 2008 to 2017 was used for the study. Both the descriptive and inferential techniques of data analysis were employed for the study. In the …</text>
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                <text>The nexus between asset tangibility and firms’ financial performance: A panel study of non-financial firms listed on the Ghana Stock Exchange (GSE)</text>
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                <text>MOHAMMED Musah, YUSHENG Kong, AGYEMANG ANDREW Osei</text>
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                <text>This study sought to explore the nexus between asset tangibility and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE). Specifically, the study sought to; examine the association between tangibility and the firms’ financial performance as measured by ROA, determine the connection between tangibility and the firms’ financial performance as measured by ROE; and to find out the affiliation between tangibility and the firms’ financial performance as measured by ROCE. This study was a quantitative study as it aimed to classify features, quantify them in terms of numbers and create a statistical model to test hypothesis and explain observations. The study was specifically correlational in nature because, it sought to examine the relationship between asset tangibility and the firms’ financial performance. The study was finally panel in nature because, it sought to gather information on the same study units at different points in time. A balanced secondary panel data sourced from the audited and published annual reports of the Ghana Oil Company Ltd, Total Petroleum Ghana Ltd, Starwin Products Ltd,</text>
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                <text>Exploring the link between operational efficiency and firms’ financial performance: An empirical evidence from the Ghana Stock Exchange (GSE)</text>
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                <text>Mohammed Musah, Yusheng Kong, Isaac Adjei Mensah</text>
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                <text>The purpose of this study was to explore the link between operational efficiency and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE). Specifically, the study sought to determine the association between operational efficiency and the firms’ financial performance as measured by ROA; examine the connection between operational efficiency and the firms’ financial performance as measured by ROE; and to find out the affiliation between operational efficiency and the firms’ financial performance as measured by ROCE. Panel data sourced from the audited and published annual reports of fifteen (15) listed non-financial firms for the period 2008 to 2017 was used for the study. From the study’s Pearson Product-Moment Correlation Coefficient technique of data analysis, operational efficiency had a significantly negative association with the firms’ financial performance as measured by ROA [r=-0.2981,(p= 0.0002)&lt; 0.05]. Operational efficiency also had an insignificantly adverse relationship with the firms’ financial performance as measured by ROE [r=-0.0411,(p= 0.6174)&gt; 0.05]. Finally, operational efficiency had an insignificantly inverse affiliation with the firms’ financial performance as measured by ROCE [r=-0.0055,(p= 0.9471)&gt; 0.05]. In order to have increased levels of financial performance, managers of non-financial firms listed on the Ghana Stock Exchange (GSE) should carefully plan and forecast their activities by taken into consideration, the fluctuations in their operational efficiency. This is because, operational efficiency have been widely proven to have a statistically significant relationship with firms …</text>
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                <text>Modelling the connection between energy consumption and carbon emissions in North Africa: Evidence from panel models robust to cross-sectional dependence and slope heterogeneity</text>
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                <text>Mohammed Musah, Yusheng Kong, Isaac Adjei Mensah, Stephen Kwadwo Antwi, Agyemang Andrew Osei, Mary Donkor</text>
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                <text>This paper explored the link between energy consumption and carbon emissions in North Africa through an Environmental Kuznets Curve (EKC) framework. Panel data extracted from the data base of the World Development Indicators (WDI) for the period 1990–2015 were used for the study. In the analytical process, more modern econometric techniques that are vigorous to cross-sectional dependence and slope heterogeneity were employed. From the findings, the studied panel was heterogeneous and cross-sectionally dependent. Also, all the series were first differenced stationary and cointegrated in the long-run. Further, the Augmented Mean Group (AMG) and the Common Correlated Effects Mean Group (CCEMG) estimators affirmed energy consumption as a significantly positive determinant of CO2 emissions. Also, urbanization and foreign direct investments promoted the emanation of CO2 in the …</text>
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                <text>This study examined the nexus between urbanization and carbon emissions in West Africa. Second-generation econometric techniques that are robust to cross-sectional dependence and slope heterogeneity were used for the study. From the Pesaran–Yamagata homogeneity test, the slope coefficients were heterogeneous in nature. Also, the Breusch–Pagan LM test, the Pesaran scaled LM test, bias-corrected LM test, Pesaran CD test and the Friedman’s test confirmed the studied panels to be cross-sectionally dependent. Further, the CADF and the CIPS unit root tests established the variables to be first-differenced stationary. Additionally, the Westerlund and Edgerton bootstrap cointegration test and the Pedroni residual cointegration test affirmed the series to be cointegrated in the long run. The Driscoll–Kraay standard errors regression estimator was employed to examine the long-run equilibrium …</text>
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                <text>The link between carbon emissions, renewable energy consumption, and economic growth: a heterogeneous panel evidence from West Africa</text>
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                <text>This study examined the nexus between carbon emissions, renewable energy consumption, and the economic growth of West African countries for the period 1990 to 2018. To be able to uncover reliable and valid findings, more robust panel estimation methods were employed for the study. From the heterogeneity and cross-sectional dependence tests, the study’s panels were heterogeneous and cross-sectionally dependent. Also, all the series were non-stationary at levels, but gained stationarity after first difference. Further, the Fisher test and the Westerlund and Edgerton bootstrap test found the variables to be cointegrated in the long run. The CCEMG and the DCCEMG estimators were used to explore the long-run equilibrium relationship amid the series, and from the results of the whole sample, CO2 emissions and renewable energy consumption (REC) had no vital influence on economic growth (GDP) in both …</text>
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                <text>A panel data analysis of the interactions between lagged profitability and firms’ financial performance: Evidence from the Ghana Stock Exchange (GSE)</text>
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                <text>This study sought to examine the association between lagged profitability and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE). Specifically, the study sought to explore the relationship between lagged profitability and the firms’ financial performance as measured by ROA; assess the association between lagged profitability and the firms’ financial performance as measured by ROE; and to examine the affiliation between lagged profitability and the firms’ financial performance as measured by ROCE. Panel data extracted from the audited and published annual reports of fifteen (15) non-financial firms for the period 2008 to 2017 was used for the study. From the study’s Pearson Product-Moment Correlation Coefficient estimates, an insignificantly positive association between lagged profitability and the firms’ ROA and ROE was established. Also, an insignificantly negative affiliation between lagged profitability and the firms’ ROCE was discovered at the 95% confidence interval. Even though the association between lagged profitability and the firms’ financial performance was not statistically significant, the positive connection uncovered between lagged profitability and the firms’ ROA and ROE is an indication that significant increases in lagged profitability could have led to significant increases in ROA or ROE and vice-versa. Therefore, the determinants of firms’ financial performance like liquidity, leverage, capital structure, operational efficiency, size, growth, tangibility, age, inflation, economic growth (GDP), exchange rate, interest rate, competition, corporate taxes and market share among others, should be …</text>
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                <text>A study into growth and firms’ financial performance: Evidence from the Ghana Stock Exchange (GSE)</text>
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                <text>Mohammed Musah, Yusheng Kong, Stephen Kwadwo Antwi, Mary Donkor, Prince Ewudzie Quansah, Anthony Frank Obeng</text>
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            <description>An account of the resource</description>
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                <text>This study sought to examine the relationship between growth and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE). Specifically, the study sought to; establish the association between growth and the firms’ financial performance as measured by ROA; explore the connection between growth and the firms’ financial performance as measured by ROE; and to determine the link between growth and the firms’ financial performance as measured by ROCE. Panel data extracted from the audited and published annual reports of fifteen (15) non-financial firms for the period 2008 to 2017 was used for the study. The Pearson Product-Moment Correlation Coefficient technique of data analysis was employed to assess the bivariate associations between growth and the firms’ financial performance, and from the results, growth had a significantly positive connection with the firms’ financial performance as measured by ROA. However, an insignificantly positive affiliation between growth and the firms’ ROE and an insignificantly negative relationship between growth and the firms’ ROCE were also established at α= 5%. The positive associations between growth and the firms’ ROA and ROE is an indication that, an increase in growth led to an increase in the firms’ financial performance. Therefore, determinants of firms’ growth like, size; innovation; age; solvency; leverage; operational efficiency; profitability; liquidity; inflation; economic growth (GDP); exchange rate; interest rate; product diversification; market share expansion; business location; price competition; market demand forces; government policies; and labour …</text>
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                <text>Predictors of carbon emissions: an empirical evidence from NAFTA countries</text>
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                <text>Mohammed Musah, Yusheng Kong, Xuan Vinh Vo</text>
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                <text>This study examined the predictors of carbon emissions in member countries of the North American Free Trade Agreement (NAFTA). Panel models robust to cross-sectional dependence and slope heterogeneity were used for the study. From the heterogeneity and cross-sectional dependence tests, the studied panel was heterogeneous and cross-sectionally dependent. Also, the unit root and cointegration tests established the series to be first differenced stationary and cointegrated in the long run. Additionally, results of the CCEMG regression estimator in the whole panel affirmed economic growth (GDP) to be a significantly positive predictor of CO2 emissions, while foreign direct investments (FDI) and population growth (POP) were trivial determinants of CO2 emissions. The discoveries were however diverse in the individual countries. Finally, there was no causality between GDP and CO2 emissions and …</text>
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