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Cash Flow as a Measure of Performance in Emerging Economies: The Ghana Example

This essay is about cash flow as a measure of performance in emerging economies: the Ghana example. The utilization of cash flow ratios for the prediction as well as the understanding of the performance of businesses is an exercise that is slowly gaining prominence, if the number of research publications in the same area is anything to go by. As an emerging economy, Ghana has over the years instituted a number of economic reforms, under the guidance of both the World Bank and the International Monetary Fund, thereby ensuring that Ghana becomes a force to reckon with economically (Yartey & Adjasi 2007) , not just in Africa, but also to the rest of the developing nations.

Details
language english
wordcount 8494 (cca 24 pages)
contextual quality N/A
language level N/A
price free
sources 23
Table of contents

Literature review 1
Introduction 1
Importance of cash flows in predicting the performance of a firm 2
Corporate governance vs. the valuation and performance of a firm 3
Practical Literature connecting the performance and valuation of a firm with its corporate governance 4
An experiential assessment of the application of operating cash flows by creditors 7
The functions of cash flow as a result of operations 9
A preview of Ghana as an emerging economy 10
Economic reforms in Ghana 11
Assistance by donors 12
Ghana capital market 12
Conclusion 14
Bibliography 15

Preview of the essay: Cash Flow as a Measure of Performance in Emerging Economies: The Ghana Example

The utilization of cash flow ratios for the prediction as well as the understanding of the performance of businesses is an exercise that is slowly gaining prominence, if the number of research publications in the same area is anything to go by. Probably the main challenge that faces the researchers and scholars alike in this area is how hard it is to access sufficient data for purposes of analysis, with a majority of these studies relying on less than 50 firms, in their quest to analyze their cash flow ratios. The significance of financial ratios, and more so cash flow ratios analysis of a firm as a predictor for the performance of a firm is an area that begun to be analyzed as early as 1966, by Beaver, who opines that the use of standard financial ratios ...





... that such a corporation may have put in place (Li et al 2004). All of these have been found to greatly incline towards the nature of the corporate governance of a firm.
As an emerging economy, Ghana has over the years instituted a number of economic reforms, under the guidance of both the World Bank and the International Monetary Fund, thereby ensuring that Ghana becomes a force to reckon with economically (Yartey & Adjasi 2007) , not just in Africa, but also to the rest of the developing nations. Perhaps this may be the reason why there has been a rise in the number of companies wishing to enlist on the Ghana Stock exchange, through an Initial Public Offering (IPO), with a majority of these experiencing an oversubscription, even as the global financial crisis deepens.
Essay is in categories

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Economics
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Economics
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Microeconomics
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Finance
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Corporate Finance
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Finance
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Financial Analysis
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Comments
Princess R.

Is cash flow enough to measure the economic performance of a country. I disagree in certain points of the writer.




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