International Journal of Business and Management Review (IJBMR)

EA Journals


Covid-19 Pandemic and Capital Structure: Evidence from West Africa (Published)

The question of whether the Covid-19 pandemic is a predictor of firms’ capital structure has remained unanswered following limited empirical studies. The financial structure of every business is its lifeblood which is the most important decision-making at any stage of the business’s operation. This study investigated the effect of covid-19 on the capital structure of non-financial firms listed on the Ghana stock exchange (GSE). The study focused on long-term debt, short-term debt and total debt ratios as a measure of capital structure. The study adopted the ex-post facto research design, the population consisted of 23 listed non-financial firms out of which 21 were sampled. Data was sourced from audited annual financial reports of the selected companies. Panel regression and ANOVA were used to analyze the data. The findings of the study revealed that covid-19 pandemic showed an insignificant effect on capital structure measured as long-term debt. This implies that the pandemic did not cause significant volatility to the long-term debt of non-financial firms in Ghana within the period of the study. Furthermore, the covid-19 pandemic showed no significant effect on short-term debt. This indicates that short-term borrowings for non-financial firms listed on GSE were not significantly affected by the covid-19 pandemic. The findings of the study further revealed that the covid-19 pandemic does not have a significant effect on the total debt of listed non-financial companies in Ghana. The study recommends that the capital structure policy of non-financial firms listed on the Ghana Stock Exchange should be maintained. This is because the study revealed that the severity of the covid-19 pandemic on business operations did not significantly affect the capital structure of the firms as measured by long-term debt, short-term and total debt.

Keywords: COVID-19, Capital Structure, Ghana, West Africa, pandemic

The Impact of Coronavirus (Covid 19) On the Economy in the Kingdom Of Saudi Arabia: A Review (Published)

Ever since the appearance of the coronavirus, a state of intense anticipation arose over its evolution until it began sweeping through a large number of countries in the world and became a global epidemic, threatening all societies and peoples. The spread of such epidemics will necessarily have economic, political, and social implications. With the spread of this virus, the economic interests of the Kingdom of Saudi Arabia will be negatively affected in many sectors, including tourism and many others, as well as low oil prices. This article focuses on the negative impact of the coronavirus on the economy in the Kingdom of Saudi Arabia, and how the Kingdom has tried to get out of this crisis and confront it, as well as plans for life after the coronavirus.

Keywords: COVID-19, Management, Policy, Saudi Arabia, coronavirus

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