ghanaopendata/ghanaian-research-english huggingface dataset:
How the Ghana Stock Exchange (GSE) can be improved

Governments in Africa have eulogized free markets and the role of the private sector in economic growth and development. The private sector requires an enabling environment to thrive and flourish, thus the need for a vibrant capital market to improve the private sector‟s access to capital. In lieu of this, the Ghana Stock Exchange (GSE) has enabled businesses in Ghana and the government to raise long-term capital and helped investors to obtain liquidity, fair capital safety and diversity of investments. It has also been one of the best performing stock exchanges in the world. That notwithstanding, there are numerous challenges hampering the development of the GSE. Therefore, this study explores how to improve the GSE by identifying the challenges impeding the development of the GSE and finding ways to deal with such challenges. The method used was to survey investors on the GSE and also interview the key players in the industry. It was found that the GSE is generally illiquid and not efficient. The number of listed securities on the Exchange is woefully inadequate. Also, most of the listed companies have very limited float of shares available for trading and their financial performance has been abysmal over the years. The cost of listing is generally very expensive and most of the brokerage firms are concentrated in Accra. Analyzing the results, massive education, incentives for listing, government use of the GSE for divestiture and bond issue for infrastructure are discussed as possible solutions.

Source: Ashesi
The impact of access to credit by smallholder cassava farmers on cassava production in Ghana

Ghana has over 500 rural banks located at vantage points that could be easily accessible by rural folk engaged in cassava production. About 70 per cent of farmers in Ghana engage in cassava production, and these farmers are mostly in rural areas. These farmers depend on cassava as their source of income, and as food for personal consumption. However, some existing literature reports that rural banks can help alleviate poverty in rural areas by giving out easily accessible credit to rural farmers and households. But is there an impact of access to credit by smallholder farmers on agriculture productivity? Are the farmers gaining access to credit and, is it impacting output? The objective of the study was to investigate the impact of access to credit by smallholder cassava farmers on agriculture output. The study used mainly qualitative data to gather data from stakeholders such as rural bank officials and Cassava farmers. Interviews, questionnaires and focus groups were used to collect the data. At the end of the research, findings showed that farmers who had access to affordable credit were able to increase their farm size for cassava planting, which increased cassava output. On the other hand, non- credit beneficiaries were not able to increase their increase land size hence had lower output. Lack of collaterals in the form of saving account, high-interest rates, lack of interest in credit accessibility and ignorance were the main credit constraint among smallholder cassava farmers.

Source: Ashesi
The impact of aspects of education [level and type] on corruption in Zimbabwe

Zimbabwe spends much of its budget allocation on education, yet the nation faces high levels of public sector corruption, raising the question of whether corruption is immune to education. Corruption is detrimental to development and societal growth whilst education, through human development, is supposed to aid growth. Therefore, there is every need to assess whether corruption, maybe through the educational process itself, and the products it produces, is dampening the potential returns to education in Zimbabwe. This paper explores the research question: What is the impact of different aspects of education [level and type] on corruption among public service sector officials in Zimbabwe? Identifying these relationships assists policymakers to make decisions appropriate for developing ethical leaders through education and for sustainable development. The study employed a qualitative research method to assess views and experiences on the education and corruption nexus. Public sector officials in the Higher and Tertiary Education and Finance and Economic Development sectors were engaged via interviews, after purposive and snowball sampling had been administered. The results show that there is a relationship between education type and level with perceptions of education impacting corruption. This impact is evident in the following deficiencies; there are no ethics or value-based teachings in the educational curriculum, people are generally losing morals, ethics are not taught at a lower education level and the economic challenges become an enabler of corruption. The recommendations include a remodeling of the Zimbabwean academic curriculum to incorporate ethics or value teachings and mandatory anti-corruption courses at universities.

Source: Ashesi
The impact of capital flight on cconomic development: Ghana and Nigeria compared

This study examines the relationship between capital flight and economic development in Africa by focusing on the impact of capital flight on economic development in Nigeria and Ghana. Existing literature on the phenomenon of capital flight, has focused almost exclusively on exploring the relationship between capital flight and economic growth instead of economic development. The preponderance of that literature indicates that a negative relationship exists between capital flight and economic growth. Using a combination of regression, correlational, graphical and descriptive analyses secondary data collected from sources such as the World Bank on capital flight and indicators of development were analysed. Capital flight estimates for Nigeria and Ghana (1990-2014) were computed using the World Bank's residual method. The main findings of this study are: (i) Total capital flight is more severe in Nigeria as compared to Ghana in terms of magnitude. On a per capita basis, however, capital flight is much worse in Ghana. (ii) There is a negative and statistically significant relationship between capital flight and economic development for Nigeria but the relationship is positive and statistically significant for Ghana. Results seem to suggest that although capital flight seems to negatively impact development in Nigeria but not in Ghana, it may be that it is the totality (not the per capita) of capital flight that matters in terms of impact on development. Thus, African governments must take steps to minimize capital flight so that their paths to economic development is accelerated to ensure the wellbeing of their citizens.

Source: Ashesi
The impact of foreign direct investment on Ghana's capital market

The objective of this study is to review and ascertain whether there is a positive or negative impact of foreign direct investment on the six selected companies. In addition, the study will examine how these impacts trickle down to the industry the six companies operate in and to the capital market as a whole. In order, achieve this objective, the following research questions were used as a guide to the study. To what extent has FDI affected Ghana's capital market? What are the benefits of FDI support to the economy? Both Primary and Secondary data were collected to draw a conclusion to the study. Interviews were conducted in six selected companies and other organisations such as the Ministry Trade and Industry, Ghana Investment Promotion Centre, Ministry of Finance and the Ghana Stock Exchange in order to draw a valid conclusion. The result of the study indicated that there is a positive impact of foreign direct investment on the selected companies and the stock market in Ghana as well. These companies with FDI support do not only benefit from the financial resources but are also competing keenly in their various industries to be the market leaders. Although the study was conducted on only six listed companies on the stock market, the impact in the selected companies and the stock market is very significant. Companies are therefore encouraged to seek FDI support as one way to improve their operations.

Source: Ashesi
The impact of increasing productivity on Ghana’s exchange rate: A time series approach to test the Productivity Bias Hypothesis in Ghana

The Productivity Bias Hypothesis (PBH) is a theory that has been used to try to explain the long-run behavior of Purchasing Power Parity. The extensive literature on the validity of the Productivity Bias Hypothesis has yielded mixed results. These results are dependent on the econometric model used (Officer, 1976) and the type of dataset employed (Bahmani-Oskooee & Nasir, 2005). This study tested the validity of the PBH using data from Ghana. To do so, the study answered the following questions; Will increasing productivity in Ghana prove to be an effective strategy to stabilize the cedi exchange rate? Does the productivity Bias Hypothesis hold in Ghana? Is the exchange rate in Ghana affected by price levels? Is the exchange rate in Ghana affected by productivity levels? To answer the questions, a model by Zakaria and Ahmad (2009) was employed to test data between Ghana and its major trading partners by running a regression analysis. The variables used in the model were; nominal exchange rate, price levels, and productivity indices. Regression results validated the PBH between Ghana and its major trading partners. From the analysis, the coefficients of price, domestic sector, and foreign sector were, in most cases, negative, negative and positive. This implies that Ghana has the potential to enjoy real appreciation in its bilateral exchange rates with its major trading partners if it goes through a period of sustainable growth.

Source: Ashesi
Impact of mergers and acquisitions on employment in Africa

In Africa, several empirical studies on mergers and acquisitions (M&A) have mainly focused on why they occur and not on their likely impact on macroeconomic indicators. Mergers and Acquisitions are major corporate actions but these raise imperative concerns about labour employment. The objective of this study therefore is to empirically test the impact of M&A on employment in Africa using annual time series and cross-sectional data of 14 African countries from 1990 to 2010. The study developed an empirical model in which M&A, interest rate, GDP growth and inflation are the explanatory variables, with employment as the dependent variable. Before the model is estimated, the time series features of the data are diagnosed. A panel dataset is created and the model is re estimated using the Feasible Generalized Least Squares (FGLS) estimator which corrects for heteroskedasticity and autocorrelation. The estimated results suggest that M&A have a statistically significant and negative relationship with employment in Africa. The implication of the study’s findings necessitates the need for employers to pay attention to the loss of institutional knowledge in using M&A as a tool for downsizing employment and the need for employees to learn new skills to increase their retention rates during an M&A deal. One major implication for policy makers in Africa such as trade unions and labour institutions is the need to negotiate for mutually beneficial post-merger integrating strategies geared towards the protection of workers interest.

Source: Ashesi
Impact of Mobile Commerce on Patronage in Ghanaian Indigenous Startups

In this present age, m-Commerce is an important technology that many countries adopt because of its vast advantages such as improved profitability, increased number of customers, and increased patronage. Therefore, seeing that the technology is a game changer in different parts of the world, Ghanaian businesses must not be left out in partaking in a resource that is likely to move them to the next level. This paper examines the research questions: What is the impact of m-commerce on sales revenue among Ghanaian indigenous startups? and What are the decision processes that founders can consider before investing in m-Commerce? In answering these questions, the businesses that are likely to adopt the m-Commerce technology are informed on the extent to which m-Commerce positively impacts the sales process to decide whether it is better to replace, maintain, or adopt a hybrid channel. The study employed the use of a mixed research methodology. The quantitative research method measured and quantified the impact of m-Commerce on the startups. In contrast, the qualitative helped derive a naturalistic interpretation of the impact of m-Commerce on startups. This study also used the Technology Acceptance Model (TAM) and the thematic analysis for the qualitative, which assesses how users come to accept and use technology. The study and its analysis show that m-Commerce positively impacts patronage. The study also recommends that policymakers adopt m-Commerce technologies in conjunction with their existing business models because it is advantageous to patronage.

Source: Ashesi
Impact of poverty on education in Ghana

Ghana’s government has implemented specific programs like FCUBE, capitation grant, school feeding, and free SHS. According to Osei-Fosu (2011), the school feeding program had a high positive and significant impact on school enrollment, attendance, and retention. Research by Tamanja & Pajibo (2019) also shows that the free SHS has led to a substantial enrollment increase. Some of the factors that affect access to education are household influence, financial cost, health, gender, and location. The theoretical framework used to support this thesis is the human capital theory. The study used a quantitative approach and secondary data from Ghana living standard survey round seven to answer the research question. The study used an ordinary least squares estimator in R studio to observe the variables’ trends. The main objective is to determine the relationship between education and poverty. If education can reduce an individual’s poverty level in Ghana. The null hypothesis was rejected, which states that education has no effect on poverty in Ghana; it was rejected because the p-value was less than 0.05 or 5%. Holding all other variables constant, if the level of education of an individual increases, welfare is expected to increase by 0.355 or 35.5%. And the variables that are statistically significant to welfare are completed level of education, income, gender, household size, and rural/urban.

Source: Ashesi
The impact of regulation on the performance of universal banks in Ghana

This research paper studies the impact of banking regulations on the performance of universal banks in Ghana. The study uses OLS regression for panel data to analyze the impact of the banking regulations on profitability and efficiency metrics of six universal banks listed on the Ghana Stock Exchange. The research uses data collected from 2005 to 2017. The first aim of the study is to identify previous regulatory changes and their impact on the performance of the universal banks. The second aim is to forecast the impact of future regulations on universal banks after the recent Ghana banking crisis. The use of capital adequacy ratio as the sole regulation is because of the recent banking crisis that mainly affected universal and commercial banks. The results of the study show that banking regulation has a positive relationship with return on assets, but a negative relationship with operating expense ratio.

Source: Ashesi
Impact of Social Media Influencers on Food Businesses in Ghana- Case Study of Pizzaman Chickenman

The advent of social media influencers became necessary as social media usage became a go-to channel for selling products and services. Influencers on social media have aided in the marketing of products and services. Marketing is essential to a business's success. Customers obtain the appropriate product at the right time and place for the right price when the seven Ps of the marketing mix are combined, i.e. product, place, promotion, price, process, physical environment, and people. The relevance of food influencers comes in as many restaurant owners are perceived to lack expertise in digital marketing and branding activities and are interested in adopting the use of social media influencers to assist in selling their products. In Ghana, not enough studies have been carried out to determine the impact of social media influencers on food businesses' sales and brand awareness (Harding et al., 2020). The case study of Pizzaman Chickenman was chosen to answer the research questions and objectives. The objective of this thesis is to learn more about the positive effects of social media influencers on sales revenue, brand awareness, and food demand.

Source: Ashesi
Impact Of Taxation on the Financial Performance of Listed Manufacturing Companies in Ghana

The manufacturing industry is consistently affected by several taxation policies implemented by the government. This paper seeks to evaluate the impact of the various taxes paid by Ghanaian manufacturing companies on their financial performance. The study utilises an ex-post facto design and uses panel data for nine (9) years (2014 – 2022). A purposive sampling method is used to choose a sample of seven (7) listed firms from the population of nine (9) on the Ghana Stock Exchange (GSE). The principal data source is the listed companies' annual financial reports. The study utilises a panel least square regression through fixed effects to test its hypotheses. The explained variable is financial performance, measured by return on assets (ROA). In contrast, corporate income tax (CIT) and value-added tax (VAT) are used to operationalise taxation, which is the explanatory variable. The control variables included in the study are firm size, leverage, and liquidity. The study results indicate that CIT has a significant inverse relationship with financial performance in contrast to VAT, which exhibits a positive but insignificant relationship with financial performance. Leverage negatively impacted financial performance, while liquidity positively impacted financial performance. The effect of firm size on financial performance was insignificant. Therefore, the recommendation of the study is that the government revises or institutes new tax incentives and concessions. These could include allowances, reliefs, rebates and shelters to help alleviate the negative impact of taxes on the financial performance of Ghanaian manufacturing companies.

Source: Ashesi
The impact of the importation of Chinese textiles on Ghanaian local producers

Textiles in Ghana are a way of communicating our history. They do not only emphasize our cultural roots but also employs workers in the country. The textile industry is currently losing its market share to importation from other countries and the imitation of textiles. It used to employ about 25000 labor force in 1975 and as at 2005; it only employed 5000 labor force. As such the study investigated into the factors that have caused the decline in market share of local companies. Based on literature reviewed, the imitation of textiles have contributed to the closure of many textile companies, hence the study investigated into how the imitation of local textiles have affected the local companies, the factors that have caused the decline of the market share of local companies then finally looked at the measures that have been put in place by these companies to address these issues. The study looked at three major companies namely Ghana Textile Print, Akosombo Textile Limited and Printex Ghana based on criteria selected by the researcher. The perspective of 32 consumers and 30 traders were also addressed to understand the perspective of the end user. Secondary data from articles and journals guided the researcher in the methodology and data analysis The conclusion made based on data findings showed that contrary to literature reviewed, there are other major factors aside the imitation of textiles has caused the decline of market share of textile companies. Some factors mentioned cost of production, taxes, government policies and the trade liberalization policy of Ghana. The recommendations made are that the government has to restructure policies to help the local industries as well as provide support with cost of utilities and reduces taxes imposed on raw materials used for production.

Source: Ashesi
The impact of total quality management on employee relations and how this affects job satisfaction

The concept of quality has been in existence since the concept of Taylorism championed the attainment of quality through inspection (Connor, 1998). A boom of this concept in the nineties brought about the Total Quality Management (TQM) movement, while the creation of the Baldrige award has motivated more firms to adopt the practice of TQM in their operations. TQM requires the involvement of every employee in the organization. It also involves the use of teamwork for continuous improvement. This paper seeks to investigate how employee involvement and teamwork affects the concept of quality and how this relates to the employee job satisfaction in the Ghanaian context. The analysis of data from 40 employees in four different companies supported the predictive relationships of Total Quality Management, Teamwork, Employee Involvement and Job Satisfaction. An interview of the operations managers of the four firms were used to validate this data. In an attempt to find the relationship between the said variables, the study established a discrepancy between available literature and what actually exists in the Ghanaian context. In conclusion, TQM success was significantly related to Employee Involvement and Job Satisfaction but not Teamwork.

Source: Ashesi
The impact of training on employee performance: A case study of HFC Bank(Ghana) Limited

The quality of the human resource of an organization is essential to its success. Thus, every organization must seek to improve the quality of its workforce. One way of achieving this is through training. The importance of training can only be appreciated with a clear understanding of its direct impact on employee performance. An improvement in employee performance also leads to an improvement in the company's performance. It is in this respect that HFC Bank (Ghana) limited was analyzed to establish a correlation between its training programs and the success of the company. Data was derived through questionnaires distributed to selected employees as well as the finance and human resource managers. The results revealed that HFC Bank had a comprehensive (planned and systematic) in house training program that every employee was aware of. The objective of the program is to improve both individual and organizational performance. Every employee no matter their educational background or level within the company had benefited from the in house training program. However, this is the only form of training that exists. The firm is therefore advised to ensure that the program is consistently evaluated to ensure its compatibility with global changes and changes within the banking industry. The possibility of other forms of training like external courses should be considered to offer employees choice also allowing those who benefit from external courses to v contribute their knowledge and observations to the existing system in the bank.

Source: Ashesi