The association between capital structure and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE)

The association between capital structure and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE)

Mohammed Musah, Yusheng Kong

This study sought to examine the association between capital structure and the financial performance of non-financial firms listed on the Ghana Stock Exchange (GSE). Panel data extracted from the audited financial statements of 15 listed non-financial firms for the period 2008 to 2017 was employed for the study. The descriptive and inferential techniques of data analyses through the use of STATA version 15 software package with a 5% level of significance (p≤0.05), was adopted for the study. From the study's Pearson Product-Moment Correlation Coefficient estimates; capital structure proxied by DA had a significantly inverse affiliation with the firms’ financial performance as measured by ROA; capital structure proxied by DE had an insignificantly positive association with the firms’ financial performance as measured by ROA; capital structure proxied by ETA had a significantly positive association with the firms …

International Journals of Multidisciplinary Research Academy

2019

https://scholar.google.com/citations?view_op=view_citation&hl=en&user=-U-tBVYAAAAJ&citation_for_view=-U-tBVYAAAAJ:YOwf2qJgpHMC

English