ghanaopendata/ghanaian-research-english huggingface dataset:
Macroeconomic Development and Capital Structure Decisions of Firms: Evidence from Emerging Market Economie

Purpose – The purpose of this study is to examine the effect of macroeconomic factors on capital structure decisions of emerging firms. Design/methodology/approach – A panel data covering a period from 1990 to 2006 for 34 emerging market countries were analyzed using the seemingly unrelated regression approach to mitigate the effects of multicollinearity and to test for the stability of parameter estimates across the countries. Findings – The results largely suggest that the effect of macroeconomic factors on capital structure varies with capital structure measurement variable in most cases. Bank credit is significant in predicting capital structure choices of firms. The findings of the research also indicate a significantly negative relationship between gross domestic product (GDP) per capita and capital structure choices. Inflation on the other hand positively influences the choice of short‐term debt over equity. Stock market development is however insignificant in predicting capital structure decisions of firms and expectations of increasing interest rate positively influences firms to substitute long‐term debt for short‐term debt over equity. Most of the control variables namely asset tangibility, return on equity, return on assets and Tobin's Q were significant predictors of corporate financing. The results of the study generally supports existing literature on the impact of investment opportunity set, profitability, and stock market development, inflation, interest rate GDP per capita and bank credit on the capital structure decisions of firms. Originality/value – The main value of this paper is to analyze the effect of macroeconomic factors on the capital structure decisions of firms using large dataset from emerging countries.

Source: UG
Macroeconomic uncertainty and conditional stock-price volatility in frontier African markets: Evidence from Ghana

Purpose – The purpose of this paper is to analyse the impact of macroeconomic uncertainty on stock-price volatility in Ghana. Design/methodology/approach – The method of analysis is in two stages. The first stage estimates univariate volatility models for each macroeconomic variable; namely consumer price index (proxy for inflation), exchange rate, money supply, interest rates, oil price, gold price, and cocoa price using the exponential generalized autoregressive conditional heteroskedasticity (EGARCH) model. In the second stage volatility effect of macroeconomic variables on stock prices is estimated using the most recent squared residuals from the mean-conditional variance of macroeconomic variables as exogenous variables in the conditional variance equation of the stock price. Findings – The results show that higher volatility in cocoa prices and interest rates increases volatility of the stock prices, whilst higher volatility in gold prices, oil prices, and money supply reduces volatility of stock prices. Originality/value – This paper departs from previous studies on African markets, by incorporating time-varying volatility characteristics of stock returns and further examining the effect of conditional volatility of macroeconomic variables on the volatility of stock. It also incorporates the effect of external macroeconomic uncertainties from oil and commodity price shocks. © 2009, © Emerald Group Publishing Limited.

Source: UG
Macroeconomic uncertainty and private investment in Ghana: An empirical investigation

In spite of the progress made in economic performance over the years, the Ghanaian economy continues to be bedevilled by a host of constraints. Among these constraints are low levels of savings and investments which have raised serious concerns among economists and policy makers with respect to the sustainability of the achievements attained so far. This study attempts to investigate empirically the link between investments and uncertainty using dataset from Ghana covering the period 1975 to 2008. In the empirical analysis, the paper aims at separating ordinary variability from uncertainty by the construction of measures of uncertainty for some key macroeconomic indicators and using them to assess their impact on investment behaviour within an econometric framework including other acceptable determinants of investment. The Phillip-Hansen cointegration test confirms the existence of long-run equilibrium relationship between private investment, standard determinants of investment, and macroeconomic uncertainty. Result from the study shows that on the whole the investment-uncertainty link reveals a significant negative effect of all macroeconomic uncertainty indicator variables on private investment with the exception of real exchange rate volatility. The values for price of capital uncertainty, real GDP growth uncertainty, and terms of trade uncertainty are large in absolute terms. The regression result further reveals that private investment displays important inertia and shows slow adjustment process towards long-run equilibrium. Lastly, the summary measure of macroeconomic uncertainty which encompasses the first principal components of the conditional variances of the five macroeconomic variables shows a consistent indirect effect on private investment. Generally we found macroeconomic uncertainties to be more detrimental to private investment growth in the long-run relative to the short-run. © 2013, Econjournals. All rights reserved.

Source: UG
Macroenvironmental analysis for strategic management: Stakeholders' view of Ghana's university libraries

This article assesses some political, cultural, technological and international issues believed to affect strategic management in Ghanaian university libraries. The external environment of Ghana is perceived by some major stakeholders of the libraries to be highly uncertain. The macroenvironmental analysis of the strategic positions of the libraries is developed through the identification of opportunities and threats in the political and economic environments.

Source: UG
The macroinvertebrates of a polluted stream in Ghana

There is a limited understanding of the lotic macroinvertebrate fauna of West Africa, although many watercourses are heavily impacted. Macroinvertebrates were sampled from a stream running through Accra, the capital of Ghana, to provide information on the nature of these communities and their response to pollution. The physicochemical pollution gradient in the stream was reflected in the macroinvertebrate community, which showed a similar response to that observed in well studied temperate areas. Heavily polluted sites within the city supported a poor fauna and were dominated by tolerant taxa, such as the Chironomidae. The success of the macroinvertebrate fauna in revealing the pollution gradient and discriminating between sites suggest that there is potential for biological monitoring in such situations. © 2000, Copyright Taylor & Francis Group, LLC.

Source: UG
Macrophage inflammatory state influences susceptibility to lysosomal damage

Macrophages possess mechanisms for reinforcing the integrity of their endolysosomes against damage. This property, termed inducible renitence, was previously observed in murine macrophages stimulated with LPS, peptidoglycan, IFNγ, or TNFα, which suggested roles for renitence in macrophage resistance to infection by membrane-damaging pathogens. This study analyzed additional inducers of macrophage differentiation for their ability to increase resistance to lysosomal damage by membrane-damaging particles. Renitence was evident in macrophages activated with LPS plus IFNγ, PGE2, or adenosine, and in macrophages stimulated with IFN-β, but not in macrophages activated with IL-4 or IL-10. These responses indicated roles for macrophage subtypes specialized in host defense and suppression of immune responses, but not those involved in wound healing. Consistent with this pattern, renitence could be induced by stimulation with agonists for TLR, which required the signaling adaptors MyD88 and/or TRIF, and by infection with murine norovirus-1. Renitence induced by LPS was dependent on cytokine secretion by macrophages. However, no single secreted factor could explain all the induced responses. Renitence induced by the TLR3 agonist Poly(I:C) was mediated in part by the type I IFN response, but renitence induced by Pam3CSK4 (TLR2/1), LPS (TLR4), IFNγ, or TNFα was independent of type 1 IFN signaling. Thus, multiple pathways for inducing macrophage resistance to membrane damage exist and depend on the particular microbial stimulus sensed.

Source: UG
Macrophage susceptibility to infection by Ghanaian Mycobacterium tuberculosis complex lineages 4 and 5 varies with self-reported ethnicity

The Epidemiology Department contributes to the mission of the institute through basic and applied epidemiological research on, but not limited to, malaria and other diseases of public health importance. It is also home to the Social Science Unit of the Institute, including the Health Support Centre for HIV/AIDS and other communicable and noncommunicable health problems.

Source: UG
Macrophage susceptibility to infection by Ghanaian Mycobacterium tuberculosis complex lineages 4 and 5 varies with self-reported ethnicity

The Department of Immunology conducts research in the field of immunology of infectious and non-infectious diseases. The Department has the overall goal of contributing knowledge to better diagnosis, management, control and prevention of infectious and non-infectious diseases in Ghana and worldwide. This is consistent with the overall strategy of the Noguchi Memorial Institute for Medical Research (NMIMR) and in line with the strategy of the College of Health Sciences of the University of Ghana.

Source: UG
Magma source and tectonics of the Xiangshanzhong mafic-ultramafic intrusion in the Central Asian Orogenic Belt, NW China, traced from geochemical and isotopic signatures

Several sulfide ore-bearing mafic-ultramafic intrusions occur along the southern margin of the Late Paleozoic Central Asian Orogenic Belt (CAOB) in north Xinjiang, NW China. Their origin, magma evolution and relationship with the Permian basalts in the region remain equivocal. In this study, we investigate the Xiangshanzhong mafic-ultramafic intrusion in eastern Tianshan, dominantly composed of diorite, hornblende gabbro, gabbro, hornblende pyroxenite, olivine websterite and lherzolite. We report the occurrence of olivine clinopyroxenite in the intrusive complex with visible pyroxene cumulate structure, high Mg, low Cr, Na, and Ti contents, and characterized by distinctively low trace element contents. Our data suggest that the clinopyroxene in the olivine clinopyroxenite probably crystallized from an earlier batch of magma. The rare earth element (REE) patterns and εNd values of the Xiangshanzhong mafic-ultramafic units suggest that these rocks represent cumulates of basaltic composition that were likely co-genetic and derived from the same magmatic source. The presence of phlogopite and amphibole, occurrence of Zr, Hf, Nb, and Ta negative anomalies, the trace element abundances of the parental magma, and the Nd isotopes (+5.9-+8.3) of whole-rocks suggest that the source of the Xiangshanzhong complexes may be a depleted mantle metasomatized by subducted slab-derived fluid or melt. Furthermore, the (87Sr/86Sr)i ratios, εNd(t) values and trace element geochemistry of whole-rock and clinopyroxene grains are consistent with those of the Permian Tuha basin basalts. The Xiangshanzhong intrusion has characteristics of both plume and subduction-related origin and we therefore speculate that the partial melting of subduction-related depleted mantle triggered by Permian plume activity during the post-collision extension regime generated the parental magmas of the Xiangshanzhong intrusion. © 2013 Elsevier B.V.

Source: UG
Magnetic resonance imaging findings in Ghanaian patients presenting with low back pain: a single centre study

Background Due to the high prevalence of low back pain which impacts the lives of those affected, several studies have explored findings associated with the lumbar spine (which is the affected anatomy) using magnetic resonance imaging (MRI). This provides a better understanding of the pathology in the study setting and adds to the literature on the subject, which is useful during intervention and has implications for policymaking. However, there is a paucity of literature in the Ghanaian context. This study therefore explored the patterns of MRI findings in Ghanaian patients with low back pain. Method A one-year retrospective cross-sectional design with a purposive sampling method was used to retrieve data from 59 MRI lumbar spine radiologist reports with a clinical history of low back pain. Data was analysed descriptively and inferentially. Inferentially, the Fisher’s exact or chi-square (X2 ) test was utilised to ascertain associations between variables where appropriate. Phi coefficient and Cramer’s V were used to assess the strength of significant associations. Statistical significance was deduced at p<0.05. Results Among the reports identified, 57.6% (n=34) were associated with females and 32.4% (n=25) were associated with males. The mean age across reports was 44.7±16.1 years. Disc degeneration (93.2%, n=55) and lumbar spondylolysis (76.3%, n=45) were the two main findings identified as the most prevalent across reports. The lordotic curvatures of patients with low back pain were predominantly normal (74.6% n=44). Disc degeneration was strongly associated with L4/L5 (V=0.644, p=0.001). Conclusion The prevalent finding identified was disc degeneration frequently located at L4/L5. Several other abnormal findings were identified. Age was significantly associated with lumbar spondylosis. Disc degeneration and lumbar spondylosis were more frequent between ages 30 and 7

Source: UG
Magnetoresistance and spin fluctuation resistivity of α-Mn thin films and their relationship to substrate temperatures

Electrical resistivity measurements in thermally evaporated α-Mn thin films have been carried out between 10 and 1.4 K using the van der Pauw four probe technique in magnetic fields up to 9 T. The results reveal a wide variation of the anomalous coefficient of T2 at low temperatures. This variation is found to be influenced by substrate temperatures. At high substrate temperatures (approximately 300 °C) a film whose residual resistivity in the expected range (0.10-0.85 μΩm) of bulk α-Mn is formed and its anomalously large coefficient of T2 at low temperatures is found to decrease appreciably with magnetic field. The magnitude of the resistivity at such low temperatures does not change for films coated on substrates held below 200 °C in fields up to 9 T. In such films the coefficient of T2 is negative and the magnitude of the coefficient of T2, (A) increases with decreasing substrate temperatures.

Source: UG
Mainstreaming climate change adaptation into pro-poor development initiatives: evidence from local economic development programmes in Ghana

Climate change remains a serious threat to climate sensitive pro-poor development interventions in the Pru District of Ghana. This study examined how climate change impacts on Local Economic Development (LED) interventions, the extent to which climate change adaptation (CCA) initiatives are integrated into LED and the challenges associated with the mainstreaming process. Qualitative research design and purposive sampling was used to collect data from 28 respondents at the Pru District Assembly with an interview guide. The results show that climate change adversely affects the following LED programmes; beekeeping, micro-credit for agricultural development programme, and fishing net and outboard motor programmes. The findings further indicate that climate-smart Agriculture, aquaculture (Fish Cage Culture) and Sustainable natural resource utilization and management the CCA initiatives mainstreamed into pro-poor LED in the Pru District to reduce the inevitable impacts of climate change. The study identified multifaceted challenges militating against CCA mainstreaming in the District to include inadequate resources for CCA, inactive stakeholder and institutional collaboration, and lack of continuity of CCA programmes. This paper recommends strong government support for CCA programmes, commitment of adequate resources and effective stakeholder and institutional collaboration. The paper concludes that effective integration of CCA into pro-poor LED is a panacea to achieving sustainable local development.

Source: UG
Mainstreaming climate change into local governance: financing and budgetary compliance in selected local governments in Ghana

Through an interpretive research paradigm, we investigated the extent to which six local governments across three administrative regions of Ghana have complied with mandated climate change financing and budgeting guidelines. Five interesting findings emerged. First, there is enormous evidence of climate change budgeting compliance across all six local governments despite weak compliance incentives. Second, local governments that are most vulnerable to the impacts of climate change are more willing to comply and also allocate more resources for adaptation-related activities than those that are less vulnerable. Third, local governments that complied least are likely to take ad hoc adaptation actions which are often uncoordinated and poorly monitored. These local governments are least likely to attract auxiliary funds that could provide additional resources for adaptation financing. Lastly, the evidence of compliance is only quantitative, presented in various local governments’ fiscal documents, with no qualitative or other relevant explanatory factors on the extent of impact on adaptation. © 2018 Informa UK Limited, trading as Taylor & Francis Group.

Source: UG
MAINTAINING ORDER IN THE MICROFINANCE SECTOR IN GHANA

This study examines the processes of maintaining order in the microfinance sector, particularly, the processes of resolving disputes, the types and causes of disputes that arise between microfinance institutions, their clients and workers. The study used empirical evidence derived from microfinance institutions, their clients as well as employees and commission agents within the Greater Accra Region of Ghana to aid in the examination of how order is maintained as well as the processes of resolving disputes in the microfinance sector. The study suggests that the adoption of an informal alternative dispute resolution mechanism yields better and cheaper results than litigation or legal means. The study further suggests that, parties to a microfinance transaction are reluctant to resort to litigation and would rather borrow at high interest rates to pay off loans than litigate. The findings show that MFIs maintained order by keeping good working relationships with their clients and staff as well as conducting credit or background checks on both clients and staff before dealing with them. Record keeping was also found to be crucial in the maintenance of order in the microfinance sector.

Source: UG
Maize Infestation of Fall Armyworm (Lepidoptera: Noctuidae) Within Agro-Ecological Zones of Togo and Ghana in West Africa 3 Yr After Its Invasion

The fall armyworm Spodoptera frugiperda (J. E. Smith) invaded several West African countries in 2016 causing severe injury to maize plants and economic damage. This study assesses variations in the occurrence of this species in different Agro-Ecological Zones (AEZs) in Togo and Ghana during the 3 yr following its discovery. The surveys were conducted on 120 farms in Togo and 94 farms in Ghana by collecting larvae from 200 maize plants per hectare. Infestation levels were 68.46% in 2016, 55.82% in 2017, and 17.76% in 2018. The number of larvae recorded per hectare and infestation levels were higher in Togo than in Ghana. The lowest number of collected larvae and infestation levels of S. frugiperda were in 2018, compared to the other 2 yr. Larvae per hectare and the infestation level varied regionally inside the two countries. The southern part of Togo (AEZ five) contained higher numbers of larvae and higher infestation levels during the 2 yr following the invasion of the pest. We concluded that infestation levels of S. frugiperda are much lower in 2018 than the two previous years and it is therefore necessary to determine the factors that affect the population dynamics of S. frugiperda in the field, which is a perquisite for developing management interventions.

Source: UG
Maize Technology Package Adoption by Smallholder Farmers: Acceptability Index and Logit Model Analyses

Agricultural research has produced various technological packages for farmers to increase their productivity and profitability. Evidence available seems to suggest that adoption of these technologies among smallholders is limited. The acceptability index and the logit model have been used to study the determinants of maize technology adoption among smallholder farmers in the Eastern Region of Ghana. The results show that the adoption levels for improved maize varieties is good but adoption levels for fertilizer and the technological package are poor. The main determinants for maize technology adoption include the farmer characteristics, socio-economic, and institutional factors. Improvements in policy and implementation could enhance adoption rates.

Source: UG
Major plants foraged by bees for honey production in Ghana: mapping of bee floral sources for the development of the apicultural industry

Honey is increasingly being used as a food supplement and to treat various diseases and disorders in Ghana. Information on floral nectar preferences of foraging honeybees is, therefore, imperative to increase production to keep pace with demand. However, in Ghana, these floral nectar preferences are yet to be investigated and identified. This study was conducted to determine bee forage sources in the three main agro-ecological honey-producing zones of Ghana. Forty-eight unblended honey samples sourced from beekeepers were analysed. Pollen spectra of the honey samples revealed 27 different pollen types of which eight were identified to family level, while 15 and four were at the level of genus and species, respectively. The results also showed that, in general, 48% of the analysed samples were unifloral honeys with the most important pollen types coming from Sapotaceae/Meliaceae, Anacardiaceae and Burkea africana. Combretaceae, Sapotaceae/Meliaceae and Anacardiaceae, as well as Lannea-type and Burkea africana were found to be the most frequent (with occurrence greater than 50%) sources of nectar utilised by bees to produce honey. The predominant pollen sources of the honeys in the three main apicultural zones of the country were Sapotaceae/Meliaceae and Anacardiaceae (Forest zone), Sapotaceae/Meliaceae and Lannea-type (Savannah–Forest transition zone) and Sapotaceae/Meliaceae, Anacardiaceae and Gynandropsis gynandra (Savannah zones). Identification of the major bee floral sources can be used as a guide by beekeepers in the location of their apiaries as well as reforesting disturbed sites with these plants to act as sources of bee forage.

Source: UG
Major subpopulations of Plasmodium falciparum in sub-Saharan Africa

Understanding genomic variation and population structure of Plasmodium falciparum across Africa is necessary to sustain progress toward malaria elimination. Genome clustering of 2263 P. falciparum isolates from 24 malaria-endemic settings in 15 African countries identified major western, central, and eastern ancestries, plus a highly divergent Ethiopian population. Ancestry aligned to these regional blocs, overlapping with both the parasite’s origin and with historical human migration. The parasite populations are interbred and shared genomic haplotypes, especially across drug resistance loci, which showed the strongest recent identity-by-descent between populations. A recent signature of selection on chromosome 12 with candidate resistance loci against artemisinin derivatives was evident in Ghana and Malawi. Such selection and the emerging substructure may affect treatment-based intervention strategies against P. falciparum malaria.

Source: UG