Firm Size and Financial Performance Among Listed Banks of Emerging Economies in Africa

Olaoluwa Elsie Umukoro, Olubukola Ranti Uwuigbe, Imoleayo Obigbemi, Balogun Sheriff Babajide, Damilola Felix Eluyela, Inua Ofe


The continuous increase in the size of various firms and listed banks, has necessitated the need to empirically examine the effect firm size has on the financial performance of listed banks in Africa. This is because some organisations and institutions have in time past failed to fulfill their going concern objective despite their large firm size balance. This study examined the effect firm size has on the three levels of cash flow of emerging economies in listed banks in Africa. The study employed the use of multiple regression analysis with the aid of the STATA statistical software tool. The result obtained revealed that for the operating level of cash flow, all countries used in this paper, with the exception of Kenya should continue to employ the independent variable as a corporate strategy method as it increases operating cash inflow. The financing level of cash flow results recommended that all countries except Nigeria should continue to utilize firm size as a significant value was obtained from the regression. The investing level of cash flow results produced a significant P-value for all countries with the exception of Botswana. The study, therefore, recommended that listed banks in Kenya, Nigeria and Botswana should apply caution in employing the firm-size corporate strategy method. This is because it doesn’t guarantee cash inflow in all three levels of cash flows.

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Research in World Economy
ISSN 1923-3981(Print)ISSN 1923-399X(Online)


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