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Impact of Global Financial Crises on Corporate Liquidity Levels: A Study of selected Oil and Gas Marketing Companies quoted on the Nigerian Stock Exchange.

Author(s)

Mide Philemon ,

Download Full PDF Pages: 32-39 | Views: 376 | Downloads: 112 | DOI: 10.5281/zenodo.3441685

Volume 2 - October 2013 (10)

Abstract

This research investigates whether the liquidity levels of marketing oil and gas companies quoted on the Nigerian Stock Exchange were affected by the 2007-2010 financial crises. A paired sample t-test was performed by comparing the means values of companies during the pre-financial crises and the crisis periods. The result shows that the liquidity levels of the oil and gas companies in Nigeria were adversely affected during 2007-2010 financial crises. The study recommends strategic matching of cash inflows/outflows, external equity sourcing, and harnessing of the gas resources to complement funds needed for capital intensive projects.

Keywords

financial crises, Liquidity, cash and cash equivalent, oil and gas

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