Growth Ratio Research Articles

EVALUATION OF THE EFFECTIVENESS OF VILLAGE FINANCIAL MANAGEMENT IN IMPROVING COMMUNITY WELFARE

This research aims to find out whether village financial management in Wringin Agung Village, Jombang District, Jember Regency is effective. This type of research is quantitative descriptive. The sample used in this research is the financial report on the allocation of village funds in the village income and expenditure budget at the Wringin Agung Village office, Jember Regency from 2018 to 2022. The results of this research show that the average 5-year effectiveness ratio is 76% up to 101% indicates that the ratio is effective, the income and expenditure growth ratio over 5 years averages -19% to 22% indicating that the growth ratio is positive, for the criteria for the independence ratio of Wringin Agung Village over 5 years the average is 0%- 33% indicates that the independence ratio is very low, and for the Efficiency Ratio over 5 years the average is 88% - 97% indicating that the ratio is inefficient.

Analyzing Lamprey Population Growth and Sex Ratio Evolution Through Cellular Automata and Impact of Predation Efficiency and Sex Ratio on Lamprey Populations

Analyzing Lamprey Population Growth and Sex Ratio Evolution Through Cellular Automata and Impact of Predation Efficiency and Sex Ratio on Lamprey Populations

Evaluation of the safety and efficacy of concentrated growth factors for hair growth promotion in androgenetic alopecia patients: A retrospective single-centre, single-arm study.

This study was designed to evaluate the safety and efficacy of injections of concentrated growth factors (CGF) for hair growth promotion in androgenetic alopecia (AGA) patients. A retrospective review of AGA patients treated with injections of CGF at our center from October 2021 to April 2023 was performed. A total of 3 injections were administered every 3-4 weeks apart, and evaluation were performed before the first injection and at 3 months, 6 months later. The outcomes were assessed by trichoscopy photomicrographs and the Global Aesthetic Improvement Scale (GAIS). At 3 months after the first injection, the hair density and hair growth ratio were significantly improved. Significant improvements were found in GAIS score by both patients and independent doctors and the hair growth promotion was sustained for 6 months after first treatment. According to this tiny single-arm trial, the use of CGF injection may help AGA by increasing terminal hair density and hair density. No severe topical or systemic adverse events occurred during the treatment.

Analisis Sektor Basis di Kabupaten Sampang

In this study, the aim was to find out the base sector of Sampang Regency on Madura Island, through the GRDP data of Sampang Regency. The analysis used uses several analyzes, namely analysis of Location Quotion (LQ), Dynamic Local Quotion (DLQ), Shift-Share (SS), Growth Ratio Model (MRP). Based on the analysis conducted, it can be seen that several sectors in Sampang Regency have good potential, such as the Agriculture, Forestry and Fisheries sector, Mining and Excavation, and the Compulsory Government, Defense & Social Security sectors. By knowing the sectors that have potential and those that are still lagging behind in Sampang Regency, it can become a material for the Sampang Regency Government to make policies toincrease the value of GDP and economic growth in Sampang Regency.

Fuzzy–Rough Analysis of ESG Ratings and Financial and Growth Ratios on the Stock Returns of Blue-Chip Stocks in Taiwan

This study uses fuzzy–rough analysis to investigate the influence of Environmental, Social, and Governance (ESG) ratings, along with critical financial and growth ratios, on the stock returns of blue-chip companies in Taiwan. The growing importance of ESG factors in investment decisions underscores the need to understand their impact on stock performance. By integrating the fuzzy–rough set theory, which accommodates uncertainty and imprecision in data, we analyze the complex relationships between ESG ratings, traditional financial metrics (such as ROE, return on equity), and stock returns. Our findings provide insights into how ESG considerations, alongside financial indicators, drive the returns of Taiwan’s blue-chip stocks. Three public-listed companies were evaluated using this approach, and the results are consistent with the actual stock performance. This research contributes to the field by offering a robust methodological approach to assess the nuanced effects of ESG factors on financial performance, thus aiding investors and management teams in making informed decisions.

Impact of Glucagon-like Peptide-1 Receptor Agonists on Intestinal Epithelial Cell Barrier

Abstract While many types of diabetes medications are currently available, orally administered formulations of glucagon-like peptide-1 (GLP-1) receptor agonists have recently been launched. Therefore, gastrointestinal epithelial cells will be increasingly exposed to GLP-1 receptor agonists; however, their effects on these cells remain unclear. The present study attempted to clarify the effects of GLP-1 receptor agonists on intestinal epithelial barrier functions. Semaglutide (5, 50, and 500 ng/mL) and dulaglutide (15, 150, and 1500 ng/mL) were selected as GLP-1 receptor agonists and applied to the Caco-2 cell line. Changes in mRNA and protein expression levels of epithelial cell barrier regulators due to exposure to GLP-1 receptor agonists were examined by real-time RT-PCR and Western blotting. Neither semaglutide nor dulaglutide changed the growth rate or ratio of Caco-2 cells. Furthermore, they did not significantly affect the mRNA expression levels of membrane proteins involved in epithelial cell barrier functions. However, dulaglutide increased the protein expression levels of these membrane proteins in a concentration-dependent manner, whereas semaglutide did not. Only dulaglutide enhanced epithelial cell barrier functions. Since various gastrointestinal symptoms develop in patients with diabetes and epithelial cell barrier functions may be compromised, medicines that promote barrier function, such as dulaglutide, may effectively attenuate these changes. However, their mechanisms of action remain unknown; therefore, further studies are warranted.

(fortcoming) Analisis Kinerja Keuangan Lembaga Amil Zakat Nasional Rumah Zakat Periode 2017-2022

This study aims to evaluate the financial performance of Rumah Zakat from 2017-2022, using financial ratios established by BAZNAS in 2022. This study is quantitative with secondary data in the form of Rumah Zakat Annual Financial Report 2017-2022. The results of this study indicate that the activity ratio shows high effectiveness, the efficiency ratio shows quite good performance even though there are still challenges in operational costs, the amil fund's ratio shows good performance, and the liquidity ratio shows smooth performance. However, the growth ratio needs to show better performance, so an increase in the collection and distribution of ZIS is needed. In addition, the trend analysis shows an upward trend in the collection and distribution of ZIS funds in 2017-2020, but there was a decrease in 2021 and 2022, which was influenced by the COVID-19, so individuals' ability to pay zakat was limited.

Enhancing Seed Yield of Daincha (Sesbania aculeata L.) New Variety TRY1 Through Optimum Spacing and Nutrient Management

Background: Increasing demand for leguminous green manure crop daincha seed is being noticed throughout the country mainly to restore the soil fertility. For maximizing seed production of newly released daincha variety, an optimum plant density per unit area and fertilizer application are an important management tool. The study was conducted to optimize the plant spacing and fertilizer dose for achieving higher seed yield of daincha variety TRY 1. Methods: Field experiments were conducted during Summer and Kharif 2023 to study the effect of different spacing and fertilizer doses on growth, yield and economics of new daincha variety TRY1. The treatments consisted of five different spacing (S1-75×30 cm, S2-60×30 cm, S3-75×45cm, S4-60×45 cm and S5-90×30 cm) in main plots and three fertilizer levels (F1-12.5:25:12.5 kg N, P2O5, K2O ha-1, F2-18.75:37.5:18.75 kg N, P2O5, K2O ha-1, F3-25:50:25 kg N, P2O5, K2O ha-1 and control) in sub plots were tested. The treatments were replicated thrice in split plot design. Result: Growing of daincha variety TRY 1 at 60×45 cm spacing produced significantly taller plants (223 cm), more number of branches per plant (15.9) and dry matter production (1766 kg ha-1), yield parameters viz., higher mean number of pods per plant (114), pod length (22.4 cm) and seeds per pod (36.7), seed yield (567 kg ha-1), mean net returns (Rs.24512 ha-1) and benefit cost ratio (2.36) than other spacing. Application of 25:50:25 kg N, P2O5, K2O ha-1 recorded significantly mean taller plants (217 cm), more number of branches per plant (19.3), dry matter production (1831 kg ha-1), nodules/plant (40.7), more number of pods /plant (121), pod length (23.7 cm) and seeds per pod (37.8), seed yield (572 kg ha-1), net returns (Rs.23369 ha-1) and benefit cost ratio (2.20) over other fertilizer doses. Thus, the optimum spacing of 60×45 cm and fertilizer dose of 25: 50:25 kg N, P2O5, K2O ha-1 could be recommended for getting higher growth, yield parameters, seed yield, net returns and benefit cost ratio of newly released daincha variety TRY 1.

STOCK PRICE : IMPACT OF SALES GROWTH (SG), CASH TURNOVER (CT) AND DIVIDEND PAYOUT RATIO (DPR)

This research aims to analyze the influence of Sales Growth (SG), Cash Turnover (CT), and Dividend Payout Ratio (DPR) on Stock Price at PT. Hexindo Adiperkasa Tbk during the 2013-2022 period. The study methodology employed is a descriptive approach utilizing quantitative methods. The objective of this study is to elucidate the correlation between the independent variable and the dependent variable. The research focuses on PT. Hexindo Adiperkasa Tbk. The secondary data source is acquired from the company's official website's annual financial report. The data analysis involved descriptive tests, classical assumption tests, and quantitative testing such as linear regression analysis, correlation, coefficient of determination, and significance tests. The research results show that there are complex fluctuations between the observed variables. Partially, Sales Growth (SG), Cash Turnover (CT), and Dividend Payout Ratio (DPR) do not have a significant effect on Stock Price. Likewise, the three of them simultaneously have no significant effect on Stock Price. The implications of this research highlight the incompatibility of data with existing theory and provide insight into the factors that influence company stock prices. It is hoped that the results of this research can provide information as a basis for consideration, support, and contribution to the company.

A Financial Analysis and Valuation of First Solar, Inc.

First Solar is an American company specializing in thin-film photovoltaic solar solutions using Cadmium Telluride (CdTe) technology. This technology offers environmental protection and sustainability advantages. The company maintains market competitiveness through continuous technological improvements, enhanced efficiency and durability, and expanded production capacity. First Solar holds significant market share in the United States and India, aided by government incentives like the U.S. Inflation Reduction Act and Indias Production-Linked Incentive Program. The company is expanding globally through acquisitions and long-term agreements, with plans to build new factories in both countries to boost production. Financially, First Solar performs well in liquidity, solvency, and profitability, ranking in the upper-middle tier among industry competitors. Its healthy short-term debt solvency is indicated by strong current and quick ratios, while its low debt ratio and high interest coverage ratio highlight robust long-term debt solvency. The companys gross and net profit margins are stable and expected to grow. First Solars earnings per share (EPS) and revenue growth rates surpass those of its peers, and its price-to-earnings (P/E) and earnings growth (PEG) ratios suggest lower relative future earnings growth, enhancing investment appeal. In summary, First Solar demonstrates strong market competitiveness and growth potential with its advanced technology, sustainable business model, and solid financial performance, positioning it as a leader in the solar energy industry.

Mapping Corporate Sustainability and Firm Performance Research: A Scientometric and Bibliometric Examination

Corporate sustainability has garnered increasing attention within the business community as corporations communicate to influence their stakeholders to build sustainable relationships. There has been a surge in research exploring its connection to firm performance, but existing studies lack a cohesive and concentrated approach. The aim of this study is to explore the trends of growth of publications; gauge the annual growth rate, annual ratio of growth, relative growth rate, doubling time, and scientific production index; predict future production levels; and look at the relationship between corporate sustainability and firm performance by analysing the literature as well as identifying clusters and links with the Sustainable Development Goals (SDGs). The top countries contributing to the research were China, India, and the United States, accounting for over 45% of the global publications. The study analysed a focused corpus of 65 documents from the Scopus database on specific subfields of corporate sustainability and firm performance, identifying five main thematic clusters related to environmental performance, financial performance, corporate sustainability reporting, corporate social performance, and green supply chain management, with significant citations related to 17 SDGs. The annual growth rate (AGR) of publications was found to be −2.88%, with an average of 4.06 publications per year. The relative growth rate (RGR) decreased from 0.69 in 2010 to 0.36 in 2023, and the doubling time (Dt.) increased from 1.00 in 2010 to 1.93 in 2023. Employing structured methods and the PRISMA protocol, this scientifically rigorous study points towards identification of research themes linking sustainability practices to firm performance. Exponential smoothing (Holt’s linear trend model) is employed to project future research output within the field. The significant trends include an increase in publication frequency since 2017, indicating a growth phase in the research field. The findings highlight the need for greater investigation from developing countries and the importance of integrating sustainability considerations into business strategies.

Factors affecting financial distress in indonesian basic industry and chemicals sector

This research aims to analyse the influence of profitability, leverage, firm size, sales growth, and liquidity on financial distress in companies in the basic industry and chemicals sector listed on the Indonesia Stock Exchange for 2017-2022. The sample for this research is 20 companies in the basic industry and chemicals sector listed on the Indonesia Stock Exchange for 2017-2022 obtained from purposive sampling. The type of data used is quantitative data obtained from secondary data. The data collection technique is a documentation technique obtained from the company's annual financial report from the Indonesia Stock Exchange for 2017 - 2022. The data analysis techniques used are descriptive statistics and logistic regression using SPSS 26. The results of the study show that profitability is proxied by ROA, leverage is proxied by the debt ratio, firm size is proxied by the logarithm of total assets, sales growth is proxied by the sales growth ratio, and liquidity is proxied by the current ratio do not affect financial distress. Advice that can be given to investors and companies is to focus on the five independent variables and internal company factors in looking at the size of financial distress and to consider other possible factors. Apart from that, advice that can be given to future researchers is to use different proxies in carrying out the analysis because different proxies will allow different results to be obtained.

An Analysis of Profitability of Sarva Haryana Gramin Bank

The most significant measure of financial performance is profitability. The degree of efficiency, productivity, and cost-effectiveness is selected through the bank's profit, which may be viewed as a composite index of its performance in numerous areas of operation. This study evaluates Sarva Haryana Gramin Bank's (SHGB) profitability performance. It is a banking establishment with operations in several Haryana areas. It was established to offer financial and banking services in remote locations. This research report examines the Sarva Haryana Government Bank's profitability performance. The secondary data used in this study were gathered from a variety of sources, including the RBI Bulletin, the Sarva Haryana Gramin Bank's annual reports, the Annual Reports of NABARD, and numerous research articles. The study's fiscal years of 2017–18 through 2022–2023 are covered. It has assessed the management performance of the bank using statistical tools such as computed annual growth rate and ratio analysis to assess Sarva Haryana Gramin Bank's profitability.

The synbiotic solution: Evaluating safety and efficacy in antibiotic-associated dysbiosis - A randomized, double-blind, placebo-controlled pre-clinical study with sprague dawley rats

BackgroundAntibiotic therapy, vital for combating infections, often disrupts the intricate balance of gut bacteria, resulting in "gut dysbiosis." This study aimed to assess the safety and efficacy of a Synbiotic supplement in alleviating antibiotic-associated dysbiosis in Sprague Dawley (SD) rats. MethodsA double-blind, placebo-controlled pre-clinical study was conducted over a minimum of 10 consecutive days. The study employed five distinct groups for evaluation, with a focus on the Synbiotic group comprising probiotic and prebiotic components. The administered dose was 1 billion CFU with 100 mg Fossence®. ResultsThe Synbiotic supplement demonstrated significant positive outcomes across diverse parameters. Compared to the disease control group, the Synbiotic group displayed enhancements in fecal output ratio, feed conversion ratio, total weight gain, and specific growth ratio. Histopathological data supported these findings, affirming the Synbiotic supplementation's potential in mitigating antibiotics' adverse effects on gut health. No mortalities or major symptoms were recorded, confirming the supplement's safety. ConclusionsThe study underscores the efficacy of Synbiotics in enhancing gastrointestinal health in SD rats. The identified effective dose of 1 billion CFU with 100 mg Fossence® necessitates further clinical investigation. This suggests Synbiotics as a compelling approach to address antibiotic-associated gut dysbiosis, warranting further exploration in humans for potential applications in maintaining a healthy gut and overall well-being.

Antioxidating improvement of asphalt binder from pyrolyzed flexible polyurethane foam

Down-cycling flexible polyurethane foam (FPUF) waste into asphalt addresses the current shortage of effective, economic, and eco-friendly anti-aging additives and polymer disposal difficulty. In this study, anti-aging performance-oriented modification was carried out by selectively pyrolyzing and down-cycling waste FPUF. To begin with, a sustainable anti-aging fiber modifier was proposed by depolymerizing hard segments in FPUF in the temperature range of 260–320 °C. Subsequently, The chemical, morphological, and rheological properties of pyrolyzed FPUF fiber modified asphalt (PyFMA) were evaluated to clarify anti-aging mechanisms, anti-aging behaviors, and relative competitiveness. The results showed that the proposed selective pyrolysis method was able to efficiently and conveniently produce FPUF fiber in certain temperature and duration ranges. The anti-aging enhancement of PyFMA was the result of a combination of antioxidant exchange, physical isolation, and chemical protection. Fiber dosage of FPUF played a dominant role in improving the anti-aging resistance as well as the high-temperature performance and fatigue resistance of asphalt. Quantification of anti-aging enhancement and performance improvement indicated that the FPUF fiber has competitive compared to existing synthetic, natural, and recycled additives. PyFMA composed of binder B and 24 wt% F3-T1 fiber showed the most balanced and superior performance in terms of growth ratio. In summary, the findings are beneficial for effectively and economically improving the aging resistance of asphalt and addressing the disposal difficulty of FPUF waste.

Analisis Penggunaan APBD di PEMDA Kabupaten Kota Se-Provinsi Bengkulu Berdasarkan Rasio Efektifitas, Rasio Efisiensi Rasio Pertumbuhan Tahun 2018 - 2022

The purpose of this research is to analyze the effectiveness ratio, efficiency ratio and growth ratio in the use of the Regency/City Regional Government APBD throughout Bengkulu Province. The results of this research show that the PAD Effectiveness Ratio for the 2018 to 2022 budget years respectively is 90.70%, 78.66%, 70.51%, 98.73% and 101.48%. Meanwhile, the efficiency ratio for using District/City APBDs in Bengkulu Province from 2018 to 2022 is 110.25%, 127.12%, 141.82%, 101.82% and 97.37%, finally the growth ratio for each calculation of APBD use Districts/cities throughout Bengkulu Province are also fluctuating or fluctuating. In 2018-2019 it was 10.18%, in 2019-2020 it was 1.27%, and experienced a drastic decrease in 2020-2021 amounting to -16.83 and in 2021-2022 it increased again although not too big, namely only 0.48 %.

Cerebral Small Vessel Disease and Infarct Growth in Acute Ischemic Stroke Treated with Intravenous Thrombolysis.

We investigated relations between cerebral small vessel disease (cSVD) markers and evolution of the ischemic tissue from ischemic core to final infarct in people with acute ischemic stroke treated with intravenous thrombolysis. Data from the Stroke Imaging Repository (STIR) and Virtual International Stroke Trials Archive (VISTA) were used. Any pre-existing lacunar infarcts and white matter hyperintensities (WMH) were assessed on magnetic resonance (MR) before thrombolytic therapy. Acute ischemic core and final infarct volume were then assessed by two independent radiologists. The relationship among baseline markers of cSVD, acute ischemic core volume, final infarct volume, infarct growth (IG = final infarct - ischemic core), and infarct growth ratio (IGR = final infarct/ischemic core) was then assessed using linear and ordinal regression adjusted for age, sex, onset-to-treatment time, and stroke severity. We included 165 patients, mean (± SD) age 69.5 (± 15.7) years, 74 (45%) males, mean (± SD) ischemic core volume 25.48 (± 42.22) ml, final infarct volume 52.06 (± 72.88) ml, IG 26.58 (± 51.02) ml, IGR 8.23 (± 38.12). Seventy (42%) patients had large vessel occlusion, 20 (12%) acute small subcortical infarct. WMHs were present in 131 (79%) and lacunar infarcts in 61 (37%) patients. Final infarct volumes were 53.8ml and 45.2ml (WMHs/no WMHs), p = 0.139, and 24.6ml and 25.9ml (lacunar infarcts/no lacunar infarcts), p = 0.842. In linear and ordinal regression analyses, presence of lacunar infarcts was associated with smaller IG (β = - 0.17; p = 0.024; cOR = 0.52; 95%CI = 0.28-0.96, respectively) and WMHs were associated with smaller IGR (β = - 0.30; p = 0.004; cOR = 0.27; 95%CI = 0.11-0.69, respectively). In people with acute ischemic stroke treated with intravenous thrombolysis, cSVD features were associated with smaller growth of the acute ischemic area, suggesting less salvageable tissue at time of reperfusion therapy.

Vine spacing of <i>Vitis vinifera</i> cv. Shiraz/101-14 Mgt. III. Grape and wine quality

Vine spacing effects of Shiraz/101-14 Mgt on a relatively high potential soil in the Breede River Valley, Robertson, South Africa, on grape composition and wine quality, were investigated. Canopies were VSP trellised and orientated approximately NNE-SSW. Spacing between rows was fixed at 2.2 m. In-row vine spacing changed from 0.3 – 4.5 m with increments of 30 cm (from 15151 – 1010 vines/ha). Grape composition and wine quality were monitored over six seasons and two grape ripeness levels. Decreasing trends of soluble solids (°B) and pH and increasing titratable acidity from narrow to wide spacing were observed. Sugar accumulation of wider spacings seemed delayed. Berry skin total anthocyanin index and phenol content showed virtually no change. Malvidin mono-glucoside and its p-coumaroyl and acetyl derivatives were present in the highest concentrations, followed by peonidin-, petunidin-, delphinidin- and cyanidin mono-glucosides and derivatives, each vine spacing treatment displaying a unique grape anthocyanin profile. The narrower spacing of vines seemed to favour skin anthocyanin accumulation compared to wider spacing. Decreasing trends in wine total anthocyanin intensity, anthocyanin density, and phenols were observed from narrow to wide spacing; all had higher levels in wines from riper grapes. Individual wine anthocyanin concentrations also showed qualitative profile changes. The first regression join points for all anthocyanins occurred around 1.8 – 2.4 m vine spacing; those for malvidin and derivatives consistently appeared at 1.8 m spacing. Although volatile compounds only seemed to respond to ripeness level and not to vine spacing, wine sensory quality generally decreased with wider vine spacing at both grape ripeness levels. Given the changes in biotic and abiotic growth conditions with wider vine spacing, the results likely displayed adaptation to the combined impact of increasing light exposure, berry temperature, physiological functioning, vegetative and reproductive growth ratios, and plant stress. The study showed the prominent role of plant spacing in sustainable grape growing and wine outcomes and thus the importance of judicious decision-making during the establishment and management of vines under any growth conditions and in any terroir.

Effects of Promalin on Fruit Growth and Cuticle Properties of ‘Pinova’ Apple

Promalin (Valent BioSciences, Libertyville, IL, USA) is a proprietary mixture of gibberellin A4 + 7 and 6-benzyladenine that is widely used in apple production to improve the fruit shape, size, and skin quality. Promalin typically increases fruit size and length. However, the increased growth likely increases the strain in the fruit skin, which may exacerbate microcracking of the cuticle and, consequently, russeting. This study aimed to monitor the growth-stimulating effect of Promalin in three different regions of fruits and investigate whether Promalin affects cuticular microcracking via effects on the deposition of cuticular components or via the accumulation of strain in the cuticle. Four Promalin sprays (20 mg⋅L−1) were applied to runoff; the first was applied at full bloom, and the remaining sprays were applied at approximately weekly intervals thereafter. Fruit surface areas and fruit surface area growth rates of the Promalin-treated fruits were higher than those of the untreated control fruits. Promalin increased the fruit length, but it had no effect on the fruit equatorial diameter. In Promalin-treated fruits, the base of each sepal extended, thickened, and became fleshy as early as 15 days after full bloom (DAFB). Allometric growth analyses revealed higher constant differential growth ratios of the pedicel and calyx length (before 36 DAFB) in Promalin-treated fruits than in control fruits. After 36 DAFB, the difference in constant differential growth ratios between Promalin-treated fruits and control fruits decreased. Cuticle mass per unit area increased with time in all regions of the fruit surface and was slightly (+3.3%) but significantly higher in fruits treated with Promalin than in control fruits. Additionally, the biaxial strain release was slightly and significantly lower in Promalin-treated fruits than in control fruits. When the isolated, cuticle was ablated from the inner surface and dewaxed, strain relaxation in the control fruits was higher than that in the Promalin-treated fruits. It was concluded that Promalin treatment increases the length of the fruit by increasing the lengths of the pedicel and calyx regions early during fruit development. Promalin only slightly increased cuticle deposition and fixation of cuticular strain. Promalin had no effects on microcracking or russeting.

Non-linearities Caused by “Too Much Finance Effect”: Exploring the Myth and Reality for Developed and Developing Countries

Existing literature on relationship between financial development (FD) and economic growth (EG) has presented dichotomous observations: a linear relationship by many of the studies and yet an inverted U-shaped relationship observed by number of renowned researchers. Most of the studies used narrow measures like credit to GDP growth ratio for measurement of financial development. Moreover, many of the researches have taken only the post-Global Financial Crisis data or neglected the data pre-1990s and most of the researches related to developing countries are on single-country data. Therefore, this relationship requires re-estimation to arrive at some conclusive results. This paper explores the relationship between financial development and economic for both developed and developing countries based on broader measures of financial development (financial access, financial depth, and financial efficiency). Panel Corrected Standard Error regression model is used to evaluate the relationship for 23 developed and 35 developing countries. Our results observe contrasting facts for developed and developing countries. For developed countries, we observed an inverted U-shaped relationship between FD and EG. The contributing sub-components of FD are financial depth and efficiency. However, financial access is observed to have a U-shaped relationship. However, for developing countries, we don’t observe an inverted U-shaped relationship but linear relationship between FD and EG. The contributing sub-components are financial depth and financial efficiency.