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...
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 ...
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...
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 ...
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...
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...
ABSTRACT Previous empirical literature demonstrates conflicting results on the effect of capital structure on firm value. Building on extant literature on the effect of capital structure on firm value, this study was undertaken to examine the effect of capital structure on the firm value of manufacturing companies listed on the Ghana Stock Exchange (GSE). In particular, the study analyzed the effect of Equity and Long Term Debt as components of capital structure on the firm value of listed ma...
ABSTRACT Manufacturing companies employ electricity as a key resource input in their production mix. This has generally led to a situation where manufacturing companies subsist heavily on electricity for survival and continuity in business. Against this backdrop, the objective of this study was to examine the effect of power generation on the performance of manufacturing companies listed on the Ghana Stock Exchange. A sample of seven firms was selected for the study using convenience sampling...
ABSTRACT This study examined the influence of non-economic factors such as socioeconomic factors and psychological components which have the tendency of influencing tax compliance. The study was based on the Fisher tax compliance model. A partial modification of the model was done by incorporating an important tax compliance determinant – “Tax Knowledge”. The effect of perceived tax fairness, tax knowledge, and tax complexity in tax compliance decisions among a sample of 350 self-employ...
Abstract The main aim of the study was to assess the adoption of electronic banking by Rural and Community Banks and its effect on the livelihood of the people of Bogoso. Over the past decade, electronic business has grown as an emerging industry. In recent years, the banking industry has strived on the emergence of the internet and has taken advantage of it to get competitive advantage over its competitors. A descriptive case study design approach was adopted in the methodology in which seve...
ABSTRACT This study examines the impact of corporate governance and national culture on the debt maturity structure of firms in sub-Saharan Africa. A relatively unexplored area world-wide, the dearth of literature on debt maturity structure in Africa necessitates this study. This study sought to understand the impact that the corporate governance systems of sub-Saharan African firms have on corporate debt maturity on the basis of the argument that the debt maturity structure of a firm could a...
ABSTRACT This study seeks to examine the effect of exchange rate movements on export sector performance in Ghana. The focus is on the real sector of the economy thus, Agricultural, Industrial and Services Sectors. A quantitative research design is employed. It uses data from the World Development Indicators (WDI) and the sample period spans1984-2016. The Generalized Autoregressive Conditional Heteroskedastic (GARCH) model is employed in calculating exchange rate volatility. This was after an ...
ABSTRACT This study assesses the relationship between innovation, performance and competitive advantage among Ghanaian banks. It uses the subjective way of customer perception to measure innovation, performance and competitive advantage with questions based on theory. The customers involved are mainly retail customers who visit their respective banks. The research is carried out in Accra and encompasses banks listed on the Ghana Stock Exchange. A Structural Equation Model (SEM) with resp...
ABSTRACT Using a nonparametric DEA approach, this study estimates the profit efficiency of 26 banks in Ghana over the period 2000 to 2013. This is compared to the estimates of two profitability ratios, ROA and ROE. The study then examines the influence of capital structure on the estimated profit efficiency and the extent to which the degree of competition measured by the Boone Indicator and the Herfindahl Hirschman Index influences the capital structure-profit efficiency nexus. The e...
ABSTRACT The purpose of the study was to examine financial literacy of small business owners, financial records keeping and enterprise performance in the TarkwaNsuaem Municipality of Ghana. Financial literacy level and operating performance of those enterprises as a measure of business economic performance was examined. In addition, the study examined financial records kept by small business owners. It was an explanatory study which employed quantitative methodology and survey strategy. Findi...