After examining 9 sampled non-financial firms which are listed on the Ghana Stock Exchange, the results show that liquidity which is the ratio of current assets to current liabilities affects financial performance negatively, though not significantly, while leverage significantly affects performance of a firm positively. The Age of the firm also affects performance positively and negatively depending on the time. Also, the size of the firm has a significantly positive effect on financial performance. The study also found that, on average, firms listed on the Ghana Stock Exchange (GSE) make 12.3% returns on equity. Furthermore, firms on the Ghana Stock Exchange make 5.9% return on total assets on average and a highest return of 31%
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In-Text Citation: (Lee & Poku, 2022)
To Cite this Article: Lee, J., & Poku, R. A. (2022). Factors Affecting Financial Performance of Firms Listed on the Ghana Stock Exchange. International Journal of Academic Research in Accounting Finance and Management Sciences, 12(3), 309–329.
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