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Institute of Economic Affairs (2020). Collaborative Efforts to Mitigate the Impact of the COVID-19 Pandemic or Business and the Economy.
https://ieagh.org/press-releases/2020/government-bank-of-ghana-collaborative-efforts-to-mitigate-the-impact-of-the-covid-19-pandemic-on-businesses-and-the-economy/

has been cited by the following article:

• TITLE: Does the COVID-19 Pandemic Matter in the Capital Structure Decisions of Firms? An Empirical Study of Ghanaian Non-Financial Listed Firms

  AUTHORS: Lamptey Lanquaye Lazarus, Agyei Kwame Acheampong, Muda Paul, Sunu Prince, Ackah Peter, Zuzie Suglo Rakibu

  KEYWORDS: Capital Structure Decisions, COVID-19, Ghana, Non-Financial Firms

  JOURNAL NAME: Open Journal of Business and Management, Vol.12 No.3, May 22, 2024

  ABSTRACT: The purpose of the paper is to investigate the impact of COVID-19 pandemic on the capital structure decisions of non-financial firms listed in Ghana and also assess the changes in the capital structure of listed firms due to the COVID-19 pandemic. The paper adopted quantitative research approach. A panel data of (12) listed Ghanaian firms between the periods 2017 to 2022 was used for the study. Data was obtained from audited financial statements of the firms. The findings of the study after controlling for firm heterogeneity revealed that the COVID-19 crisis period did not significantly affect the capital structure decisions of the listed firms. However, the COVID-19 crisis significantly moderates a positive effect of tangibility on the financing choice of firms highlighting the importance of collateralization in a period of pandemic. A further assessment indicates that there was no significant difference in the true mean value of short-term debt and long-term debt ratios between the pre-COVID-19 period and the COVID-19 period despite a marginal increase in the short-term debts and long-term debts by the firms during the COVID-19 period in the year 2020.