The DOI matches its Crossref record; 18 of the 23 references it cites were found in a registry or an index.
LIQUIDITY MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED OIL AND GAS COMPANIES IN NIGERIA
Open accessAbstract
The purpose of this paper is to figure out the link between liquidity and profitability, as well as the impact of liquidity on profitability. Ten listed companies with a bigger market share in the oil and gas sector of the Nigerian economy were subjected to a fixed panel regression study. Secondary data was gathered for ten years, from 2011 to 2020, from their published annual reports. Profit after tax (PAT), Return on Asset (ROA), and Return on Equity (ROE) were used to determine profitability (ROE). Internal liquidity variables such as equity, debt, and sales were utilized to determine the behavior of the dependent variable, but external elements such as lending interest rate and exchange rate were employed to further explain profitability behavior. The data were analyzed using a multiple regression approach. The findings reveal that debt has a significant negative impact on companies' profitability. Similarly, equity capital, as well as retained earnings, are more beneficial to firms than the debt financing of the oil and gas sector. The study, therefore, recommends that oil and gas firms should boost their equity capital, improve their revenues, increase their retain earnings, and reduce debt financing to enable them to generate more wealth for shareholders.
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Citations
Cites
The Determinants of Capital Structure Choice
TITMAN, S., & WESSELS, R. (1988) · The Journal of Finance · doi:10.1111/j.1540-6261.1988.tb02585.x · Cited by 6,112 · cited 1×
“The study by Titman and Wessels (1988) reveals that more lucrative enterprises will require less external finance, supporting the pecking order idea.”
BackgroundTesting the pecking order theory of capital structure
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Liquidity Management and Profitability of Manufacturing Companies in Nigeria
Ben-Caleb, B.-C. (2013) · IOSR Journal of Business and Management · doi:10.9790/487x-0911321 · Cited by 65 · cited 4×
“Ben-Caleb et al. (2013), on the other hand, found that CCC is inversely correlated to manufacturing company profitability in Nigeria. The current ratio and liquidity ratio are strongly tied to manufacturing company profitability, according to his sample of 30 manufacturing companies listed on the NSE from 2006 to 2010…”
BackgroundInfluentialLIQUIDITY MANAGEMENT AND PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA
Emmanuel, E. C., & Stephen, A. (2020) · EPRA international journal of multidisciplinary research · doi:10.36713/epra3138 · Cited by 37 · cited 4×
“Liquidity should be controlled such that neither too much nor too little is available as firms with poor liquidity management experience illiquidity and eventually bankruptcy (Majakusi, 2016; Abdi & Kavale, 2016; Edem, 2017). The need for shareholders to maximize their wealth has forced the primary goal of profit maxi…”
BackgroundInfluentialPerformance of deposit money banks and liquidity management in Nigeria
Otekunrin, A. O., Fagboro, G. D., Nwanji, T. I., Asamu, F. F., Ajiboye, B. O., & Falaye, A. J. (2019) · Banks and Bank Systems · doi:10.21511/bbs.14(3).2019.13 · Cited by 29
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Cited by
Khoza, F. (2025) · Journal of Risk and Financial Management · doi:10.3390/jrfm18090510 · Cited by 10
Oyerogba, E. O., Olugbenro, S., Omojola, S., Wright, O., Aregbesola, O., Akinsola, T., & Amu, I. (2024) · International Journal of Energy Economics and Policy · doi:10.32479/ijeep.17230 · Cited by 10
“Alhassan and Islam (2021), posited that institutional investors seem to have short-run investment horizons due to enormous pressure to deliver returns to their constituents regularly.”
THE IMPACT OF LIQUIDITY RISK ON PROFITABILITY OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Olofin, A. J., Muritala, T., Maitala, F., Abubakar, H., & Ajalie, S. N. (2024) · International Journal of Professional Business Review · doi:10.26668/businessreview/2024.v9i6.4777 · Cited by 9
Effect of Liquidity Management On the Financial Performance of Nigerian Oil and Gas Firms
Almakura, F. A., Shiaki, T. K., Gambo, N., & Muhammad, R. A. (2024) · International journal of business and management review · doi:10.37745/ijbmr.2013/vol12n22844 · Cited by 5
“…profitability and prevent bankruptcy, liquidity management has become increasingly crucial, particularly in an environment where financial institutions are becoming less willing to issue credit facilities due to an increase in non-performing loans and high interest rates (Alhassan & Islam, 2021).”
BackgroundAdedipe, O., & Adegbite, S. T. (2026) · FUDMA Journal of Accounting and Finance Research [FUJAFR] · doi:10.33003/fujafr-2026.v4i1.332.224-238 · Cited by 3
Metadata
- Authors
- Alhassan, I., & Islam, K. M. A.
- Affiliations
- The Millennium University (BD)
- Venue
- International Journal of Accounting & Finance Review
- Published
- 2021-09-29
- Pages
- 15-25
- ISSN
- 2576-1285 (ISSN-L)
- 2576-1293
- OpenAlex
- W4200391666
- Cited by
- 15
- References
- 23
- Citations by year
- 2026: 2 · 2025: 2 · 2024: 5 · 2023: 4 · 2022: 2
- FWCI
- 4.62
- Type
- journal article
- Language
- en
- Open access
- diamond
- doi.org
- Licence
- cc-by
- Locations
- International Journal of Accounting & Finance Review (publishedVersion, cc-by)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Working Capital and Financial Performance
- Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Social Sciences › Business, Management and Accounting › Accounting › Financial Analysis and Corporate Governance
- Keywords
- liquidity management, financial performance, oil and gas companies, debt financing, equity capital, retained earnings, profitability, return on assets, return on equity, interest rates, exchange rates, Nigerian oil industry
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- CoChat. (2026). Citation check: LIQUIDITY MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED OIL AND GAS COMPANIES IN NIGERIA. https://app.cochat.ai/papers/10.46281/ijafr.v8i1.1364
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- Alhassan, I., & Islam, K. M. A. (2021). LIQUIDITY MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED OIL AND GAS COMPANIES IN NIGERIA. International Journal of Accounting & Finance Review. https://doi.org/10.46281/ijafr.v8i1.1364
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
