ABSTRACT Working capital management plays a vital role in improving the financial performance of companies. The purpose of the study is to analyze the effects of working capital management on the financial performance of pharmaceutical companies in Ghana. For this reason Pearson correlation and regression were used to analyze the secondary data in the form of annual financial report were obtained from the pharmaceutical companies for a period of eleven years (2005-2015). The study measured fi...
ABSTRACT This study investigates the relationship between Working Capital Management (WCM) determinants and financial distress level of the listed manufacturing companies in Ghana. This research used evidence from financial report of ten manufacturing organizations selected from the main board of the Ghana Stock exchange. Quantitative research approach involving panel least square estimates with white cross section were used for analysis. Descriptive statistical analysis including regression ...
ABSTRACT This study assesses the impact of Microfinance on Rural communities in Agona District in the Central Region of Ghana. The specific objectives of the study were to assess customers’ level of awareness of microfinance programmes in place, the effect of microfinance on poverty reduction, challenges faced by residents in acquiring loans from MFIs, constraints associated with the operation of MFIs and strategies to improve the services of MFIs. A survey was conducted and one hundred (10...
ABSTRACT The need for the government to maintain macroeconomic stability is becoming increasingly crucial in the era of slow economic growth, growing unemployment and high debt. However, the trend of Balance of Payment over the years reveals an unstable pattern. One key factor that has been overlooked in terms of the determinants of Balance of Payment is exchange rate volatility. Coming from the background of volatility/instability in the Ghana’s exchange rate, could it be the reason for th...
ABSTRACT Government of Ghana has put in place many measures to improve the wellbeing of cocoa farmers in the country through increase in the income they receive from cocoa produce. Despite this, cocoa farmers in Ghana do not earn the quality premium received by Ghana cocoa on the international market. This study examined the influence of cocoa farming business and financial literacy on the social welfare of cocoa farmers in the Brong-Ahafo Region of Ghana. The study employed both qualitative ...
ABSTRACT The study investigates the potential non-linear and asymmetric impact of remittances and bank-based financial development on economic growth and also the potential mediating role of bank-based financial development in the remittance-growth nexus. The study used the newly developed Non-linear Autoregressive Distributed Lag (NARDL) model by Shin et al. (2014) on annual data for Ghana from 1979 to 2017 for the analysis. The study finds that remittances have a non-linear and asymmetric...
ABSTRACT The study was to examine working capital management among small and medium scale enterprises (SMEs) in the Agona West Municipal Assembly in the Central Region. The study employed a survey research design of which the targeted population was the SME operators in the Agona West Municipal Assembly. The study sampled 155 respondents using simple random sampling technique. Questionnaire was the main data collection instrument. Furthermore, the data were processed using SPSS version 21.0....
ABSTRACT Banking crises are usually followed by low credit, GDP growth and high job insecurity. This is because crises tend to take place during economic and social downturns. The banking crisis affected not only different institutions and companies, but also the economic and financial livelihood of people, especially banking sector workers. Ghana is far from getting out of this crisis, and its impact may be measured by different indicators. This paper seeks to investigate the impact of banki...
ABSTRACT Although working capital management decisions concern short-term assets and liabilities, they have both short-term and long-term implications on the profitability and shareholder value. The study sought to examine the effects of working capital management policies on shareholder value creation for six manufacturing firms listed at Ghana Stock Exchange for a period of 2000-2013. Data were gathered from the annual reports of the firms and the publication of Ghana Stock Exchange. Descr...
ABSTRACT The study examines the impact of macroeconomic variables (inflation, exchange rate, and interest rate) on stock market performance in Ghana using quarterly data ranging from 2008 to 2018. Using time-series techniques of co-integration and vector error correction estimation, the study examines both the short-run and long-run associations between macroeconomic variables and stock market performance. The study uses the GSE all-share index as a dependent variable to measure stock market...
ABSTRACT Holding adequate liquidity is very crucial for the survival of banks. Nevertheless, reserving liquidity in excess hinders the development of interbank markets and suggests that banks are forgoing financial intermediation (hence, returns) and are inefficient. It is against this background that this study sought to find explanations on why bank liquidity in Ghana has for about a decade now remained above global average levels. In attaining this objective, I argued that a more complete...
ABSTRACT This study revisits the relationship between external debt and economic growth in Ghana. Using annual data for the period 1986 to 2015, and applying Autoregressive Distributed Lag (ARDL) model and in line with the empirical literature, the study found a statistically significant positive relationship between external debt and economic growth in both the long run and short run for Ghana. The study also revealed that there was adjustment to equilibrium from the short-run. Besides, cons...
ABSTRACT This study investigated the relationship between stock market performance and economic growth in Ghana for the period 1991–2014, using quarterly secondary data. The objective was to empirically analyse the relationship between stock market performance and economic growth using Auto regressive Distributed Lag (ARDL) approach.The study found acointegrating relationship between economic growth and its determinants. The regression results show that stock market performance is a very ...
ABSTRACT This study examined the relationship between corporate governance and performance of mutual funds in Ghana during the 2008 to 2013 period. Using panel regression model, the study found no significant relationship between board size, board composition as well as fund size. However, a significant positive relationship has been found between frequency of corporate board meetings and corporate performance, implying that boards that meet more frequently tend to generate higher financial p...
ABSTRACT The role of Credit unions in Ghana cannot be overemphasized. This motivated the researcher to investigate and establish the impact of credit union operations on its members’ development. To achieve this, quantitative approach through the use of explanatory design was adopted. Questionnaires with reliability alpha coefficient of .806 were used to collect responses from selected respondents. The data were analysed with the help of the Statistical Package for Social Sciences (SPSS ver...