Updates
🌟 August 2026 Issue Published: New research articles now available in our latest journal issue. Discover cutting-edge findings. Read More 📢 Call for Papers: October 2026: Submit your research for peer review. Open access publishing with global visibility. Read More 🚀 Continental Scholarly Publications: Join our new multidisciplinary research journal platform. Publishing excellence since 2024. Read More 🎯 Special Issue: Digital Health: Call for papers on digital health innovations. Submission deadline: September 15 Read More 💼 Early Career Researcher Support: Special mentorship program and reduced fees for PhD candidates and new researchers. Read More 🔬 New Research Areas Open: Now accepting submissions in AI Ethics, Climate Science, and Public Health Innovation. Read More 🌐 Global Academic Network: Connect with researchers from 65+ countries through Continental Scholarly Publications. Read More ⏰ Fast-Track Peer Review: Accelerated review process available. Get decisions within 3 weeks. Read More

International Journal of Banking, Finance, and Risk Management

Peer-Reviewed Academic Journal
Research Article SP

CASH FLOW EFFICIENCY AND FIRM PERFORMANCE: EVIDENCE FROM GHANA’S ENERGY INDUSTRY

Authors & Affiliations
Abdulai Mohammed Sadiq
Bolgatanga Technical University
Published: January 19, 2026
Volume 14, Issue 1 (2026)
Article ID: 0
Peer-Reviewed
Open Access
Abstract
This study investigates the impact of the Cash Conversion Cycle (CCC) on the profitability of energy sector companies in Ghana. Using data from four (4) firms spanning 2014 to 2022, the study employed descriptive statistics, correlation analysis, and regression techniques to explore the relationship between CCC components – Days Receivable Outstanding (DRO), Days Inventory Outstanding (DIO), and Days Payable Outstanding (DPO) – and key profitability metrics including Return on Assets (ROA) and Return on Equity (ROE). The findings revealed that a longer CCC negatively correlates with profitability while DIO and DRO positively influenced ROA. Extended payment periods were found to detract from both ROA and ROE. These findings underline the importance of optimizing CCC to enhance financial performance in Ghana’s energy sector. This study contributes to the existing body of literature by providing empirical evidence on the financial performance of energy sector companies, particularly in the context of working capital management. It underscores the critical relationships between the Cash Conversion Cycle and profitability metrics such as ROA and ROE. Moreover, the findings offer actionable recommendations that can assist firms in enhancing their financial performance, thus bridging the gap between theory and practice in financial management within the energy sector.

Full-Text Access

Open-access article — free to read and share.

Publish Your Research in This Journal

Continental Scholarly Publications applies rigorous double-blind peer review to every submission. Our expert editorial board ensures your work meets the highest standards of scholarship before reaching an international readership.

Double-Blind Review Global Indexing Fast Turnaround Open Access DOI Assigned Wide Readership
Submit a Manuscript