Finance Research Papers/Topics

Effects of Taxation on Financing Decisions of Small and Medium Enterprises in Kumasi Metropolis

ABSTRACT The study assessed the effects of taxation on financing decisions of SMEs in Kumasi Metropolis, Ghana. Kumasi is mostly dominated by SMEs in various economic sectors of the Ghanaian economy. The study targeted registered SMEs, with a sampling frame of 153 businesses. A sample size of 115 was determined and were selected (stratified sampling technique). A 100 percent return rate was recorded. Descriptive research survey design was adopted and through structured questionnaire, primary...

ANTECEDENCE OF INFLATION IN GHANA.

ABSTRACT The study examines the antecedence of inflation, most especially the effect of money supply growth, interest rate and real depreciation of the cedi on inflation in Ghana using annual time series data from 1990 to 2016. An Autoregressive Distributed Lag model was adopted as the estimation technique to examine the long-run and short-run dynamics among the variables used. In the long run, the regression estimates indicated that there is an insignificant positive effect between money sup...

Effect of Capital Inflows on Financial Market Development: Evidence from Ghana

ABSTRACT The study examines the effect of capital inflow variables on financial development in Ghana. Annual data on foreign direct investment and external debt was extracted from the World Bank World Development Indicators from 1970 to 2014 while data on domestic access to credit by the private sector and remittance inflows was extracted from the Global Financial Development Dataset from 1970 to 2014. Data was analysed by using the descriptive, causal and the Johansen and Juselius (1990) mu...

Financial Market Development and Foreign Direct Investment in Sub-Saharan Africa: The Role of Country Level Governance

ABSTRACT Studies have established mixed results on the relationship between financial market development and foreign direct investment. However, governance has been identified in literature to influence both financial market development and foreign direct investment, yet no study has considered the interacting of financial market development, governance and foreign direct investment. Thus, this study is of the view that governance could probably influence the relationship between financial m...

Real Exchange Rate and Economic Growth in Ghana

ABSTRACT This study sought to determine the effect of real effective exchange rate on economic growth in Ghana using annual data for the period 1984 to 2014. The study employed the Auto Regressive Distributed Lag Estimation technique as well as the Bounds Testing approach to cointegration to establish a long run relationship between Economic Growth and Real Effective Exchange Rate in Ghana. The result suggests that real exchange rate, capital stock, and labour force exert a positive and stat...

FUND MANAGEMENT PRACTICES OF PUBLIC SECOND CYCLE EDUCATIONAL INSTITUTION IN THE CENTRAL REGION OF GHANA

ABSTRACT The main ambition of most organizations today is to present good financial results that may have the impetus of propelling the organization into the realization of its grand objectives. One important part of this is to ensure an effective way of managing liquid capital or in other words fund management. The thrust of this document is to help improve the public sector financial management practices, with a particular reference to the second cycle institutions of Ghana Education Servic...

CREDIT RISK MANAGEMENT OF NON-BANK AND BANKING INSTITUTIONS: A COMPARATIVE STUDY OF TEACHERS’FUND FINANCIAL SERVICES AND UNIQUE TRUST BANK

ABSTRACT The issue of credit risk is of greater concern because of the higher levels of perceived risks resulting from some of the characteristics of clients and the business conditions that these clients find themselves in. The structure of risk management calls for a review that reflect on policies and procedures which will help manage risk as well as conform to the best practices. As a contribution to this exercise, this study focuses on Unique Trust (UT) Bank and Teachers’ Fund (TF) Fin...

LIQUIDITY RISK, CREDIT RISK AND PERFORMANCE OF UNIVERSAL BANKS IN GHANA

ABSTRACT Credit risk and liquidity risk management practices are very critical for efficient operations and survival of banks. This is because they have the tendency to affect the core existence of banks (profitability). However, the impact of credit risk and liquidity risk on the performance of banks is yet to be fully explored in Ghana. The recent takeover of UT bank Ltd and Capital bank Ltd by GCB bank Ltd; where issues of insolvency were cited by BoG as reason for the takeover is a proof ...

FINANCIAL CHALLENGES AND COPING STRATEGIES OF STUDENTS OF THE UNIVERSITY OF CAPE COAST

ABSTRACT The study assessed the financial challenges and coping strategies adopted by students in financing tertiary education. It specifically investigated among others the sources of funds available to the students, the nature of financial challenges and their coping strategies. Participation in the study was restricted to only Levels 300 and 400 students of the University of Cape Coast from all eight schools and faculties in the University. A case study design was adopted, and questionnair...

ANTECEDENCE OF INFLATION IN GHANA

ABSTRACT The study examines the antecedence of inflation, most especially the effect of money supply growth, interest rate and real depreciation of the cedi on inflation in Ghana using annual time series data from 1990 to 2016. An Autoregressive Distributed Lag model was adopted as the estimation technique to examine the long-run and short-run dynamics among the variables used. In the long run, the regression estimates indicated that there is an insignificant positive effect between money sup...

INTERNATIONAL COMMODITY PRICE SHOCK AND ECONOMIC GROWTH IN GHANA

ABSTRACT The purpose of this study was to examine the effects of international commodity price shocks on economic growth in Ghana from 1990 to 2016. Time series data were collected on oil price, gold price, cocoa price, capital, labour, inflation, exchange rate and trade openness from the Central Bank of Ghana and the World Development Indicators. The study employed Autoregressive Distributed Lag (ARDL) to examine the relationship between the index of commodity price shock on economic growth ...

THE ROLE OF CORPORATE GOVERNANCE ON PERFORMANCE AND FAILURE OF LOCAL BANKS IN GHANA

ABSTRACT  The banking industry in Ghana has undergone a major shift in focus, partly in response to the advent of global financial liberalization and innovation. The industry increased the number of banks to thirty-four (34) as at December, 2016 and subsequently to thirty-seven (37) in 2017. The Ghanaian economy also experienced a series of macro-economic shocks, which impacted adversely on the banking industry, exposing weaknesses in the governance structures, the industry also experienced...

READINESS OF VRA HOSPITALS SBU TO OPERATE AS A STAND-ALONE COMMERCIAL VENTURE

ABSTRACT Restructuring in the energy sector of Ghana‟s economy is ongoing and Volta River Authority, a lead actor, is not an exception. The Authority intends to adopt public private partnership (PPP) vehicle to convert all non-power businesses (health, education, hospitality and transportation, local government administration of the Akosombo Township) into stand-alone commercial ventures. It therefore outlined the „BRAISE‟ strategy and tasked the Change Management Team to sensitize all ...

Fund Management Practices of Public Second Cycle Educational Institutions in the Central Region of Ghana

ABSTRACT The main ambition of most organizations today is to present good financial results that may have the impetus of propelling the organization into the realization of its grand objectives. One important part of this is to ensure an effective way of managing liquid capital or in other words fund management. The thrust of this document is to help improve the public sector financial management practices, with a particular reference to the second cycle institutions of Ghana Education Servi...

EFFECTS OF MACROECONOMIC UNCERTAINTY ON CAPITAL STRUCTURE CHOICES FOR NON-FINANCIAL FIRMS ON THE GHANA STOCK EXCHANGE

ABSTRACT The study examined the effects of macroeconomic variables on capital structure choice of non-financial listed firms in Ghana. The capital structure variables used were short term debt, long term debt and total debt. Macroeconomic variables were measured using inflation rate, interest rate and GDP growth rate. The study employed pure quantitative method and panel data covering the period from 2004 to 2014. Annual data for capital structure and macroeconomic variables were collected fr...


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