Home > Management > Accounting and Finance > Volume-3 > Issue-6 > Does Firms Size Matter? An Empirical Evidence from Non-Financial Institutions (NFIS) Listed on the Ghana Stock Exchange (GSE)

Does Firms Size Matter? An Empirical Evidence from Non-Financial Institutions (NFIS) Listed on the Ghana Stock Exchange (GSE)

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Does Firms Size Matter? An Empirical Evidence from Non-Financial Institutions (NFIS) Listed on the Ghana Stock Exchange (GSE)


Takyi Kwabena Nsiah | Cheng Li Mei | Ran Kwabena Fosu Sarpong | Raphael Amoakoh Addai



Takyi Kwabena Nsiah | Cheng Li Mei | Ran Kwabena Fosu Sarpong | Raphael Amoakoh Addai "Does Firms Size Matter? An Empirical Evidence from Non-Financial Institutions (NFIS) Listed on the Ghana Stock Exchange (GSE)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-6, October 2019, pp.383-388, URL: https://www.ijtsrd.com/papers/ijtsrd27952.pdf

The aim of this research was to explore the connection between the firm size and the profitability of Ghana Stock Exchange (GSE) listed non-financial companies. The research used panel data obtained from 15 listed non-financial firms ' audited annual reports for the period 2010 to 2017. The descriptive and inferential procedures 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. The research evaluated the company's profitability through Return on Assets (ROA), Return on Equity (ROE), and Earnings Per Share (EPS), while the company's size (SZ) was the natural log of total assets. The Pearson Product-Moment Correlation analysis was adopted for the study. The results of the study indicated that there was a positive but insignificant association between firm size (SZ) and the profitability of the companies as measured by ROA. Again, profitability proxied by ROE had insignificant negative affiliation with firm size (SZ). Finally, profitability measured by earnings per share (EPS) had a significant negative connection with the firm size (SZ). There is a need for companies to improve their profitability in the essentials of client base, net assets, sales volume, and market share to boost their size. Increasing the size of the companies will not only increase them in terms of profitability but will also help them achieve a competitive advantage over others as bigger companies are anticipated to be more effective than their lower counterparts and have better funds to survive financial downturns.

Firm size, Profitability, Ghana Stock Exchange, Non-financial Institution


IJTSRD27952
Volume-3 | Issue-6, October 2019
383-388
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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