Applicability of Identified Financial Determinants of Undiversifiable Risk to Emerging Markets: A Multi-Sector Analysis of Non-Financial Listed Companies on the Ghana Stock Exchange

Aim: This study explores the influence of financial variables on undiversifiable risk in emerging markets.
 Methodology: Eight are examined as determinants systematic risk. Five years data, 2016-2020, 14 multi-sector non-financial firms listed Ghana Stock Exchange was used. A descriptive, regression analysis and multicollinearity performed to arrive at results.
 Results: Results based five data indicated that liquidity, leverage, operating efficiency, dividend payout market value equity have negative relationship while profitability, firm size growth positive with risk.
 Conclusion: Except for profitability growth, significant relation other beta shows both investors managers can utilize their movements make sound decisions will enhance value.