Corporate liquidity management of listed firms in Ghana

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dc.contributor.authorIsshaq, Z.
dc.contributor.authorBokpin, G.A.
dc.date.accessioned2019-04-23T11:54:25Z
dc.date.available2019-04-23T11:54:25Z
dc.date.issued2009-09
dc.description.abstractPurpose The purpose of this paper is to examine corporate liquidity management of companies listed on the Ghana Stock Exchange (GSE) with the aim of ascertaining the determinants of corporate liquidity holdings. Design/methodology/approach The paper adopts a dynamic panel model where a lagged dependable variable is introduced as an explanatory variable. Annual data from the annual reports and financial statements of the firms together with the ITGSE Factbook/IT are used in the gathering of data spanning 1991-2007. The Arrellano-Bond estimator is used which incorporates the Sargan test for over identification. Findings Leverage is found to be not significant to Ghanaian-listed firms' liquidity demand perhaps due to the developmental stage of the financial market. However, liquidity is found to be statistically significantly influenced by a target liquidity level, size of the firm, return on assets and net working capital. Originality/value This is the first of its kind in the country despite the numerous studies carried out on the GSE. © 2009 Emerald Group Publishing Limited. All rights reserved.en_US
dc.identifier.citationZangina Isshaq, Godfred Alufar Bokpin, (2009) "Corporate liquidity management of listed firms in Ghana", Asia-Pacific Journal of Business Administration, Vol. 1 Issue: 2, pp.189-198, https://doi.org/10.1108/17574320910989122en_US
dc.identifier.otherVol. 1 Issue: 2, pp.189-198
dc.identifier.otherhttps://doi.org/10.1108/17574320910989122
dc.identifier.urihttp://ugspace.ug.edu.gh/handle/123456789/29470
dc.language.isoenen_US
dc.publisherAsia-Pacific Journal of Business Administrationen_US
dc.subjectCorporate strategyen_US
dc.subjectGhanaen_US
dc.subjectLiquidityen_US
dc.subjectStock exchangesen_US
dc.titleCorporate liquidity management of listed firms in Ghanaen_US
dc.typeArticleen_US

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