ghanaopendata/ghanaian-research-english huggingface dataset:
Financial management practices and performance of small and medium enterprises in the Sekondi-Takoradi metropolis

Proper financial management is essential for business survival because firm’s inability to identify and implement relevant financial management practices can affect its performance. This study examines financial management practices and their relationship with performance of small and medium enterprises (SMEs) in the Sekondi-Takoradi Metropolis. The financial management practices covered financial records keeping, asset management, receivables management, cash management, inventory management and payables management. A sample of 147 SMEs made up of 133 small firms and 14 medium enterprises were used. Multiple linear regression analysis model was used to test the relationship between financial management practices and SMEs performance. The results show that receivable management, cash management, inventory management and asset management practices influence SMEs performance. Firm’s age has a moderating effect on the association between financial management practice and SMEs performance. It is recommended that SMEs should incorporate good financial management practices such as credit management, cash management, inventory management and asset management in their operations

Source: UCC
Financial Management Practices and Performance of Small and Medium Entreprises: Evidence from Sekondi-Takoradi Metropolis, Ghana

This study examined the influence of financial management practices on the performance of SMEs in Sekondi-Takoradi Metropolis. The study used the descriptive research design and adopted the sample size formula for finite population proposed by Krejcie and Morgan (1970) to select a representative sample of 383 from a total population of 115,577 SMEs in Sekondi-Takoradi Metropolis. Respondents constituted owners and/or managers of the selected SMEs in Sekondi-Takoradi Metropolis. Questionnaires were semi-structured and self-administered. The data collected were analysed using descriptive statistical tools such as frequencies, percentages, mean as well as inferential statistics specifically Pearson’s correlation coefficient of SPSS version 21. The findings revealed that, working capital management and profitability management are highly adopted by SMEs in Sekondi-Takoradi Metropolis as part of their financial management practices, as compared to asset and liabilities management and strategic financial management. Also, working capital management practices had a positive and significant relationship with the performance of SMEs. Lastly, financial management practices had a positive and significant relationship with the performance of SMEs in Sekondi-Takoradi Metropolis.

Source: UCC
Financial Market Development and Economic Growth in Sub -Saharan Africa

There is an overgrowing concern of the relevance of financial market development and economic growth in contemporary times. However, there still remains an unexplored analysis of the underlying determinants of this relationship which moderate from forces of portfolio risks and financial market liberalisation. The study provided insight into financial market development and economic growth in Sub-Saharan Africa using GMM panel regression for moderation role and panel seemingly unrelated regression model for bidirectional estimation and threshold analysis. We considered impulse response functions to examine adjustment path of growth to shocks. Using GMM and panel SUR estimations on 34 SSA countries covering 1996- 2016, we found a significant contributing role of industrial production in the stock market–growth nexus and a downward sensitivity of growth in the integration of a liberalised money market. Further, the study found optimal operating thresholds for financial market instruments. The study therefore advocates that value added from industrial production be allocated to stock acquisition to ensure growth and prudential regulations be strengthened in liberalised money market.

Source: UCC
Financial Market Development and Economic Growth in Sub-Saharan Africa

The development of the financial markets is considered as a major avenue for propelling the growth of economies. The study assessed the contributory role of financial market development to the growth of Sub-Saharan African economies using the quantile regression approach. The study focused on fortyeight economies within the Sub-Saharan African region and employed data from 2002 to 2019. The study was based on the explanatory design and the quantitative approach while descriptive statistics, unit root analysis, correlation analysis, Generalized Method of Moments (GMM) estimator, and the quartile regression were used to analyse the financial market development and economic growth nexus. Using the Generalized Method of Moments (GMM) estimator to implicate the short-run and long-run nexus, the result revealed that financial market development and economic growth are positively related in both the short-run and long-run. Also, a bi-directional causality was found to exist between financial market development and economic growth in Sub-Saharan Africa. The quantile regression result showed that financial market development increases economic growth for the 5th to the 75th quantile growth distributions but for the 95th quantile distribution, financial market development reduces economic growth. The study recommended that governments of Sub-Sahara Africa economies should support the development of the financial sector through granting of more credit to the private sector to cushion the productivity and growth prospects

Source: UCC
Financial market development and foreign direct investment in sub – Saharan Africa: the role of country level governance

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 market development and foreign direct investment in Sub- Saharan Africa. The study purported to examine the interacting role of governance in the relationship between financial market development and foreign direct investment in Sub-Saharan Africa from 1997 to 2016. The study was backed by Eclectic theory and new institutional economic theory. The study adopted Generalized Method of Moment (GMM) technique. The study first found positive relationship between financial market development and foreign direct investment in Sub- Saharan Africa. Secondly, it found positive relationship between financial market development and foreign direct investment in Sub- Saharan Africa. Finally, it found that governance plays an interaction role in the relationship between financial market development and foreign direct investment in Sub-Saharan Africa. Hence, this study suggests that Sub-Saharan economies should enhance both their financial market and governance (specifically, control of corruption, regulatory quality, political stability and voice and accountability) in order to maximize inflows of foreign direct investment

Source: UCC
FINANCIAL MARKET DEVELOPMENT, DEMOCRACY AND ECONOMIC GROWTH IN GHANA

ABSTRACT There is a raging debate in literature regarding financial market development, democracy and economic growth nexus. In the Ghanaian context, only the relationship between financial market and development and economic growth has been investigated without considering the possible influence of democracy in the process. The objectives of the study were in three folds: to examine the long and short run effect of financial market development on economic growth; the long and short run effect of democracy on economic growth; and the moderating role of democracy on the financial market development and economic growth nexus in Ghana. Annual data from 1960 to 2019 was employed and the autoregressive distributed lag model and the ordinary least sqaure regression were used as the analytical tools. The study controlled for gross recurrent expenditure, capital, and labour. The study found that financial market development does not affect economic growth in the short run but has positive effect on economic growth in the long run. Also, democracy had a significant positive relationship on economic growth in both the short run and the long run. There was found the evidence that democracy moderates the relationship between financial market development and economic growth. The study among other things recommended that the government of Ghana should seek to continuously improve the democratic stance of Ghana so as to affect the financial market and to set the foundation for productivity and economic activities to thrive.

Source: UCC
Financial Outreach, Financial Innovation and Sustainable Development in Africa

There has been a call on policy makers in the African continent to formulate and implement initiatives that help to realise some of the SDGs. This is due to the low performance of the continent in terms meeting the targets of the SDGs. In view of this, the study sought to investigate the relationship between financial outreach, innovation and sustainable development in Africa. Data was collected on 34 African economies for a period of 10 years spanning from 2011 to 2020. The study employed the Twostep System Generalised Method of Moments technique to estimate the results. It was discovered that, depending on the indicator used to measure outreach, financial outreach has significant positive and negative relationship with sustainable development. On the various dimensions, financial outreach had negative influence on carbon dioxide emissions, positive impact on economic sustainability and inverse relationship with social sustainability. It was also revealed that financial innovation has a significant negative link with sustainable development in Africa. Additionally, the findings revealed that both financial outreach and innovation serve as moderating variables in the finance/development nexus. The study recommends that governments and policy makers in various African countries work together with financial service providers to ensure fair, flexible, and alluring interest rates on loans to the underprivileged, disadvantaged ones in the society, and vulnerable businesses in order to smooth their consumption and boost their businesses.

Source: UCC
Financial performance of credit unions in Ghana: A study of six selected credit unions in the Western and Central Regions

The general objective of this study is to evaluate the financial performance of Credit Unions in the Western and Central Regions of Ghana. This study was prompted by the inability of some credit unions to effectively analyse their financial performance. The survey design was adopted while the study covered 12 credit unions over the period 2007-2012. The analysis and discussion of the data point to three key findings. First the study revealed that the average values for the performance variables were impressive because the indicators of the credit unions for the six year period are more than a single digit. The analysis showed that there is a significant difference between the return on asset of the credit unions from the Central and Western Regions of Ghana, again there is a significant difference between the return on equity of the credit unions from the Central and Western Regions of Ghana. Finally in relation to the determinants, loan quantity, repayment, solvency and operating expense were the major determinants of the financial performance of the credit unions. It was recommended that Credit unions can diversify their operations by having similar bodies in other Regions and managers of the credit unions should engage researchers to study their operations and examine more factors that may influence their financial performance since it could improve their performance

Source: UCC
Financial Reporting and Funding of Sme’s and Its Implications During Covid-19 in the Nalerigu /gambaga Municipality of the North East Region

This study is on financial reporting implications of COVID-19 on Small and Medium-sized Enterprises (SMEs) Funding in Nalerigu/Gambaga Municipality. The study was carried out to determine the financial reporting challenges facing Small and Medium sized Enterprises (SMEs) in the midst of COVID-19 and the implications on access to credit facilities in the Nalerigu/Gambaga Municipality. The survey method and time series data were used and data were collected through the use of questionnaires. Data generated were analysed with descriptive and inferential statistics. The study found that the financial reporting challenges facing SMEs in accessing funds are: inadequate accounting records, manual accounting system and non-usage of the banking system. The study recommends, among others, that SMEs should seriously consider record keeping and preparation of financial statements seriously in order to take advantage of credit and other funding support opportunities available to SMEs, in the midst of the effects of COVID-19 pandemic.

Source: UCC
Financial Reporting Practices and Business Performance of Small and Medium-Sized Enterprises in Sekondi Takoradi Metropolis: The Moderating Effect of Accountants’ Characteristics

Effective financial reporting practices play an effective role in the survival of small and medium-sized enterprises, but poor reporting practices is a contributing factor for small and medium-sized enterprises’ failures. The current study investigates the effect of financial reporting practices on the performance in the Sekondi-Takoradi Metropolis while considering the moderating effect of accountants’ characteristics. Also, the challenges relating to financial reporting practices were additionally examined. The explanatory research design was utilised to execute the objectives of the study. Through the simple random sampling technique, the study responses were obtained with a structured questionnaire. Estimations of the study were performed with the Partial Least Square Structural Equation Modelling. The study found a significant positive effect of accounting records keeping and financial disclosure on business performance. On the other hand, comprehensive financial statement contributed less to business performance. Moreover, characteristics of accountants could not moderate the relationship between financial reporting practices and business performance. Also, challenges on the financial reporting practices were found. It is recommended that small and medium-sized enterprises should enhance competencies of accountants on financial reporting practices in order that it can contribute to performance.

Source: UCC
Financial Risk Management and Profitability of Commercial Banks in Ghana

ABSTRACT This study examines the effect of financial risk management on the profitability of commercial banks in Ghana using a balance panel of twenty (20) commercial banks over ten time periods, spanning from 2011 to 2020 within a causal research design. The study considered net interest margin, credit risk, liquidity risk, operational risk, bank size and leverage as variables of interest. The study reveals that credit risk, liquidity risk and operational risk as the independent variable of interest and leverage as a control variable have negative and statistically significant effects on net interest margin. However, company size has positive and statistically significant effects on net interest margin. Therefore, the study recommends that Management of commercial banks must take proper steps in managing financial risk indicators in order to avoid it effects on their operations, sustenance, profits and growth due to the turbulent competition in the industry. Management of commercial banks should expand their size or operations to take advantage of economies of scale for the purpose of achieving high profits. Finally, Management of commercial banks should try to reduce leverage since it has a negative effect on profitability.

Source: UCC
Financial risks faced by small and medium-scale enterprises in modern business environment

This study ascertained the financial risks faced by small and medium enterprises, the case of Naatoa Company Limited. The descriptive survey design was used for the research. A simple random sampling technique was employed in selecting 100 out of the total population of 230 employees. The views of 120 respondents, 71 males (59.2%) and 49 females (40.8%), were collated for the study. It was seen that most respondents had, at least, sought education. 96% of respondents had some level of education. It was also realised that the company faces all categories considered under market risk and the market risk itself. Per percentages, all the risk categories found under market risk (Equity risks, Interest rates, Exchange rates, Commodity prices) fell between 79% to 91.3%. According to the research, credit risk is pervasive, but organisations focus less on it than on risks like losing a supplier or their good name. But, all of these other factors might affect the financial risk itself. Financing/Liquidity Risks were slightly closer to average than credit and market risk, which appeared to be a significant factor. In general, the results of the risk management strategies and tools show that Naatoa Company Limited considers most of the strategies to manage their risks. Companies are urged to recognise the significance of financial risk management and how globalisation and the resulting expansion of organisations’ limits for value creation—through sourcing, commercial alliances, and entry into new markets—reinforce this relevance

Source: UCC
FINANCIAL ROLES AND ITS EFFECT ON PERSISTENCE OF FEMALE STUDENTS IN DISTANCE EDUCATION PROGRAMS IN GHANA

In recent times when there has been a shift in public benefit of education from the higher education to basic education, beneficiaries of higher education take responsibilities of most of their financial commitments as students. The focus of the study was to find out the extent to which financial responsibilities affect the persistence of female students accessing higher education through the distance education programs. A correlational research design was used to describe and predict the effect of financial responsibilities on persistence of 441 female students drawn from selected public universities in Ghana. Data was collected using questionnaires and analyzed with descriptives and simple linear regression. It was found that financial roles had positive effect on persistence of the female students. The study recommended that female students were exposed to the sources of funding to enable them mitigate the effect financial roles might have on their persistence and academic progression.

Source: UCC
Financial Sector Crisis in Ghana: a Study of the Underlying Causes

ABSTRACT Causes of financial crisis have been widely explored. Some of the studies looked at credit risk, financial distress and corporate governance against financial crisis, but as separate entities. Thus, this study sought to analyse the underlying causes of financial crisis in Ghana. The sequential explanatory mixed methods design was employed to ensure triangulation of findings. Using the criterion sampling technique, 22 out of 23 commercial banks in Ghana made up the sample size for the study. The quantitative data were extracted from the banks‟ annual reports for the periods 2010 to 2019 whereas a semi-structured interview guide was used to collect qualitative data from managers of all the 23 banks. The quantitative data were analysed using the binary logistic regression estimated by the Maximum Likelihood Estimation (MLE) where normal distribution was assumed, whilst the thematic approach was used for the qualitative data analysis. Results revealed that credit risk, financial distress and corporate governance all have statistically significant effects on the odds of financial crisis occurring in Ghana. The qualitative finding also revealed political and social instability, governance issues, financial distress, credit problems, and supervision and regulatory issues to be the causes of financial crisis in Ghana. It was recommended that Board of Directors and Management of banks be put under constant surveillance to ensure that the banks‟ resources are not used for personal gains. Finally, suggestions were made for future studies

Source: UCC
Financial Self Efficacy, Culture and Personal Financial Behaviour of Market Women in Cape Coast

ABSTRACT The main purpose of the study was to assess the financial literacy of market women in the Cape Coast metropolis and how culture influences their personal financial behaviour. A quantitative, descriptive method was employed to aid carry out the study. Questionnaire was the instrument used in data collection and 400 market women in the Cape Coast Metro major markets were queried out of which 380 were received. The data collected was analysed using Statistical Package for Social Science (SPSS) to generate frequency tables for descriptive analysis. Findings from the study indicated that most market women were knowledgeable in finance but lack the necessary tools and conditions to apply this knowledge to equip and enhance their financial behaviour. However, majority of the market women indicated that they are interested in increasing their financial knowledge. The study further recommended that educational programs, financial consultancy and involvement of market women in financial program design will help increase their financial literacy. Also, the government should be involved in financial literacy program implementation to stem up its effectiveness in the form to support

Source: UCC