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

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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