Capital Structure Implications And Performance Of Listed Manufacturing Firms In Ghana

Abstract

The study examined the implication of capital structure on the financial performance of listed manufacturing companies in Ghana. The study employed an explanatory research design and a quantitative research technique to address the three specific objectives that guided the study. A survey research approach was used to gather empirical data from one hundred and twenty (120) listed manufacturing firms across Ghana. The study's findings, taken as a whole, support the idea that strategic marketing is a key factor in the success of organisations seeking to position themselves in a changing market. The study's findings also showed that conventional advertising channels are favoured by Ghana's manufacturing firms for reaching new consumers and strengthening existing ones. Intriguingly, just a minority of them employ cutting-edge technology to promote their offerings; listed manufacturing firms would do well to enhance their results by embracing cutting-edge technical marketing tools like mobile marketing. The results shed light on the importance of strategic marketing to the success of listed manufacturing firms in a globalised growing economy. The study recommended that the manufacturing firm should concentrate more on other financing options rather than debt financing due to its negative consequence on profitability.