ghanaopendata/ghanaian-research-english huggingface dataset:
Effect of corporate governance and financial reporting quality on financial performance of listed firms in ghana

The study aimed to investigate the impact of corporate governance and financial reporting quality on the financial performance of publicly listed firms in Ghana. Utilizing a quantitative approach and panel data analysis, the study examined secondary data from the annual financial reports of 10 selected firms listed on the Ghana Stock Exchange between 2010 and 2021. The research design employed explanatory methods, with random effect regression models and robustness tests conducted using a dynamic model. The findings of the study reveal several significant relationships. Firstly, a positive association was found between board size and financial performance, indicating that larger boards are linked to improved financial outcomes for listed companies in Ghana. This finding aligns with the theoretical framework of agency theory, highlighting the benefits of diverse skills, expertise, and perspectives within larger boards. Secondly, the study demonstrates a positive impact of board independence on financial performance. A higher proportion of independent directors was found to be associated with better financial results. This supports the notion that independent directors contribute to transparency, accountability, and effective decision-making within organizations, promoting sustainable financial performance. Thirdly, the study identifies a positive relationship between audit committee size and financial performance. Companies with larger audit committees tend to achieve better financial outcomes, emphasizing the significance of effective oversight and monitoring in corporate governance practices. Furthermore, the findings highlight the positive relationship between financial reporting quality and financial performance. Companies with higher financial reporting quality exhibited better financial performance, indicating the importance of reliable and transparent financial reporting in enhancing market efficiency and reducing agency conflicts. The study's findings have implications for policymakers, regulators, and practitioners in Ghana. Policymakers can use the results to inform the development and implementation of corporate governance regulations and guidelines. Encouraging companies to have larger boards with diverse expertise and independent directors can contribute to improved financial performance. Similarly, promoting high-quality financial reporting practices and emphasizing the importance of well-sized audit committees can enhance transparency, accountability, and decision-making within organizations.

Source: KNUST
Effect of corporate governance on cost of capital of listed manufacturing firms in ghana

In the field of Finance, the study of corporate governance and cost of capital has piqued the interest of scholars and practitioners. For a decade, the stability of the financial sector in Ghana has been threatened due to weak corporate governance, non-performing loans, political interference. To save the sector from suffering losses which can trigger into economic crisis, strong corporate governance is mainly required. The main aim of this study was to analyse the effect of corporate governance on manufacturing firms’ cost of capital. The study utilised quoted manufacturing firms on the Ghana Stock Exchange. All the 8 listed manufacturing firms are captured and observed from between the period of 2010 to 2021 making a 96-firm year observation. The study utilised the quantitative approach and explanatory research design. Data for the study were obtained from the annual financial statements of the selected firms under study. In order to achieve the objective of the study, the Hausman test was employed to determine the appropriate model for this study and found that the Fixed-Effect model was appropriate for this study. Augmented Dickey-Fuller test and Breusch-Godfrey test were performed to test for data stationarity and autocorrelation respectively. On the other hand, the researcher employed Breuch-Pegan test to test for the presence of heteroscedasticity. Based on the analysis, this study found that the board size has a significant negative effect on cost of capital of manufacturing firms. The study results also revealed a significant negative effect of board independence on manufacturing firms’ cost of capital. In addition, the study found a positive but insignificant effect of CEO duality on manufacturing firm’s cost of capital. Based on this, the study recommends to management of manufacturing firms to consider the cheapest and cost-effective source of capital like their retained earnings whenever they are looking for capital to expand their operations. External source of securing or raising capital for expansion should be the last source management should consider. This study concludes that corporate governance has a significant impact on manufacturing firms’ cost of capital.

Source: KNUST
The Effect of Commodity Prices on Exchange Rate: Empirical Evidence From Ghana (Using Cocoa and Gold).

The main purpose of this study is to examine the effect of commodity prices on exchange rate using Ghana as a case study. Monthly data on exchange rate, cocoa, gold, interest rate and inflation from the periods 1999 to 2014 were employed. The study first adopted Custav Cassels’s absolute version of the PPP model to establish a relationship between commodity prices and the exchange rate. The Johansen cointegration technique and the Vector Error Correction Model (VECM) were used to test if cointegration exists among the variables of interest and measure the long run relationship among the variables of interest respectively. The study further proceeded to test if the commodity prices are volatile using the GARCH methodology. The results indicated that the commodity prices are volatile and therefore have stochastic shocks. The study finally used the Impulse Response Function to examine the stochastic shocks of the commodity prices on the exchange rate. The study however found out that all the variables are positively related with the exchange rate except for inflation.

Source: KNUST
Effect of corporate governance on financial performance of mutual fund companies in Ghana

The study sets out to examine the effect of corporate governance on the financial performance of mutual fund companies in Ghana. Using panel regression specifically fixed effect and pooled ordinary least squares (OLS), the study revealed that there is a direct relationship between board size and yield to date or return, Sharpe ratio, management expense ratio and net asset value. It was revealed that there is an inverse relationship between gender diversity, Sharpe ratio and net asset value. The study revealed that there is an inverse relationship between CEO duality and yield to date or return, Sharpe ratio, management expenses ratio and net asset value. The study revealed that non-executive directors have no effect on yield to date or return, Sharpe ratio, management expenses and net asset value. Fund age was also found to be negative to fund performance. As fund age progresses, risk-adjusted returns decrease. This research is important because it sheds new light on the principal-agent issue in the mutual fund industry. A major policy recommendation is that management should ensure that CEO duality is not permitted to take place since it does not enhance financial performance.

Source: KNUST
Effect of corporate social responsibility on community development- a case study of Anglogold Ashanti, Obuasi Mine

The study assessed the effect of corporate social responsibility on community development with a special attention to Anglogold Ashanti’s operations in Obuasi and its environs. The study was a descriptive case study using both quantitative and qualitative approach. A sample of 288 was selected through a multi–stage sampling design. Data were collected using questionnaire and interview guides. Data was analyzed using SPSS version 20. Results from the study showed that the company carried out its corporate social responsibility to the Obuasi community and its environs. The major CSR activities mostly practiced by AGA includes provision of malaria control programmes (M = 4.88; SD = 0.535), provision of employment (M = 4.52; SD = 0.962), embarking on environmental issues (M = 4.02; SD = 0.991), and good drinking water to the community (M= 4.00; SD = 0.857). Again, the study showed that the state of community development in the communities were good/satisfactory (87%). The results of multivariate regression analysis showed that corporate social responsibilities has an influence on community development (adjusted R square = .464). The major challenges the company face in implementing CSR include financial constraints, interference from political and opinion leaders leading to abandonment of completed projects, and lack of support or commitment from community members. This therefore calls for the company to engage the communities, especially key stakeholders to identify and prioritize the needs of the community through public forums, allocation of budget for community development. In addition, lobbying for funds from government and non-governmental agencies is to be employed, and that will ultimately improve CSR activities.

Source: KNUST
The Effect of Corporate Cultures on Employee Performance in Banking: A Comparative Study of Ghanaian and Non-Ghanaian Banks in Ghana.

The study sought to ascertain the effect of corporate cultures on employee performance. A comparative study of Ghanaian (Fidelity and GCB) and non-Ghanaian banks (Stanbic and Access) in Ghana. The study was quantitative in nature and adopted descriptive research approach. The population for the study consisted of all staff of these banks, but for the purposes of data collection, the study was limited to Kumasi metropolis. Using convenience sampling technique, 124 staff were drawn from the two Ghanaian banks and 112 from the two non-Ghanaian banks. Data analytical tools used were frequencies, percentages, mean, standard deviation, independent samples t-test, and multiple regression model. After the analysis, it was concluded there existed a very strong relationship between organizational culture and employee performance. Emphasis on individual performance, leadership, human resources management practices, and innovation, were not statistically significant at influencing employee performance. Conflict management practices, professionalism, and organizational goal integration, had an inverse and significant relationship with employee performance. Customer centeredness, organization structure, communication, employee participation, decision making, and fun, had a positive and significant relationship with employee performance. Although organizational cultures among these groups of banks were similar, the Ghanaian banks ranked more favourably on most of the dimensions. And this difference was statistically significant. Employee performance across groups were similar, although the Ghanaian banks ranked more favourably. And this difference was statistically significant. It is recommended that management members in the various organizations must have the authority to make decisions in their area of responsibility, roles and responsibilities in the organization must be clearly defined.

Source: KNUST
Effect of corporate social responsibility on the profitability of universal banks

The banking industry in Ghana has been facing financial crisis since the Bank of Ghana clean up exercise that begun in 2016. Nonetheless many universal banks in Ghana continues to spend on CSR activities. It is for this reason that this research endeavored to assess the relationship Corporate Social Responsibility has with the profitability of a bank, using a selected Universal banks in Ghana as the case study. Secondary data from annual reports of the banks were analyzed using Eviews version 11.0 whiles primary data, were collected from eighty (80) respondents using questionnaires. The field suvery was analysed using SPSS 21.0 version and Microsoft excel 2016. Data from the research indicated that the bank’s reason for engaging in CSR activities are all altruistic in nature. The findings also concluded that CSR activities of the Universal banks in Ghana had a positive yet moderate relationship with the profitability of the banks. Also, CSR have no significant influence on the competiveness of the banks. While customers find CSR important, it has little influence on their purchase decisions. To fully encourage social responsibility across all walks of life, it was recommended that stakeholder institutions and awarding bodies increase publicity for CSR initiatives. Future researchers are also encouraged to investigate the impact CSR initiatives has had on beneficiaries and also how these initiatives are being maintained at community of individual levels.

Source: KNUST
Effect of corporate governance on the performance of rural and community banks in Ghana

This study’s paramount aim is to investigate the impact that corporate governance has on the performance of Rural and Community Banking in Ghana. The study specifically reviewed the governance practices of RCBs at the corporate level in Ghana, assessed RCBs performance in Ghana and also assessed the relationship that exist between the corporate governance practices of RCBs and their performance, specifically in Ghana. To achieve the research goals, a cross-sectional investigation technique was used in the analysis along with the quantitative methodological investigation approach. To properly get the questionnaire filled, the respondents’ data and the questionnaire information were measured on a five-point scale, then a structured questionnaire well-designed was used. Overall, one-hundred and one (101) respondents sampled form thirty (30) RCBs in Ghana, participated in the study. Results from this study demonstrated that the performance of RCBs in Ghana is significantly related to all corporate governance methods considered during the study. Additionally, Ghana’s RCBs also had moderate performance. The Ordinary Lease Square (OLS) estimates further indicated that; board independence; board accountability; enforcement of duties and responsibilities of both the board members and senior management; managerial discipline and the functions of audit and finance; were statistically significant in increasing the RCBs performance in Ghana by (11.3%, 12.5%, 12.6%, 30.4% 18.4%, and 25.8%). The study recommends to the Central Bank through ARB Apex Bank Limited and other regulatory agencies to adopt the highest standards of corporate governance and continue to promote them in full as far as possible because RCBs in Ghana are not strongly committed to all aspects of corporate governance.

Source: KNUST
Effect of credit risk management on the performance of listed banks in Ghana

The objective of this research is to examine the effect of credit management and non performing loans on the performance of listed banks in Ghana, in the presence of the financial sector clean-up leading to some capitalization constraints imposed on banks within a framework that is dynamic. The GMM estimation technique was used in this research. The researcher adopted the quantitative research method with explanatory research design approach for its suitability in cause and effect relationships. 7 listed banks in Ghana were sampled and secondary data obtained for the variables of interest – CRM (npls, LDR, and EAR) and financial performance variables (ROA and ROE). The results of the study show a significant negative relationship between npls and ROE. Also, LDR positively influences the profitability of listed banks in Ghana but positive insignificant relationship was found between EAR and both ROA and ROE. Besides, financial sector clean-up was found to be directly and significantly related to bank profitability. Finally, bank growth was found to be a significant predictor of bank profitability, proxied by ROA and ROE, however, bank age proved to be inversely related to the profitability of listed banks in Ghana. Leverage was found to have mixed relationships with bank profitability. The study concludes that uncontrolled levels of credit risk, particularly npls, would lead listed banks into financial difficulties which would further result in poor profitability or financial performance in the long term. A major recommendation was for levels of npls to be regularly monitored and kept under control so as for listed banks to manage risks efficiently

Source: KNUST
Effect of covid 19 pandemic on market turbulence and performance of smes. The moderating role of firm innovativeness. A case study of kasoa municipality

Crunches in business are intricated which influences both short-term and long-term performance if not given immediate attention. The study is on effect of covid 19 pandemic on market turbulence and performance of smes. The moderating role of firm innovativeness. The study seeks to examine the relationship between covid-19 on market turbulence, assess the impact of covid-19 pandemic on sme’s performance, evaluate the moderating role of firm innovativeness on the relationship between covid-19, and smes performance and to evaluate the moderating role of firm innovativeness on the relationship between covid-19, and market turbulence. V the study was a deductive research approach and quantitative research method with the descriptive research design. The research used convenient sampling techniques to select respondents. Likert scales questionnaire was used to collect primary data from respondents with the use of spss for analysis. The findings revealed that there is a connection among covid-19 pandemic and market turbulence. It is determined that market turbulence had an influence to covid-19 pandemic. The correlation coefficient shows that there is a significant and a strong positive relationship between covid-19 and market turbulence. Also, there is a connection among covid-19 pandemic and smes performance. Covid-19 pandemic have an influence on smes performance. The correlation coefficient shows that there is a significant and a strong negative relationship between covid-19 and smes performance. Again, there is a moderation effect of firm innovativeness on the affiliation between covid-19 and smes performance whiles firm innovativeness moderation on the effect of among covid-19 and market turbulence.

Source: KNUST
Effect of credit risk on the profitability of rural banks in Ghana: A case of Atwima Kwanwoma Rural Bank Limited

Rural banks including Atwima Kwanwoma Rural Bank Limited are faced with the credit risk of losing part or the entire loan including the interest receivable on such loans. This negatively affects the bank and reduces its financial strength to meet its financial obligations to customers. It is on this basis that the current study employs a mixed approach to investigate the effect of credit risk on the profitability of AKRBL. The study employed a questionnaire to gather data from 40 staff of AKRBL. The result of the study showed that the credit facilities of the rural bank are associated with several forms of risk including debtor’s insolvency, financial loss resulting from changes in the level of credit spreads, debt uneconomical to pursue and when debtor abscond. The study further showed that to reduce the level of risk associated with the loans granted to customers, a set of criteria is employed to appraise prospective clients. The criteria includes appraising the applicants character, applicants extent of involvement in the business, experience in credit utilisation, profit and loss statement, security, ability to pay and borrowers repayment history. Notwithstanding, the rural bank has witnessed an average amount of default of GH¢6,142.9 and default rate of 6.9%. The study revealed negative relationship between the level of non-performing loans and loan loss provisions on the profitability of the bank. However, the loans and advances, liquidity and the capital adequacy ratio of the rural bank have positive relationship with the profitability of the rural bank. The major strategy employed by the rural bank in managing credit is the provision of incentive for prompt payment of acquired loans. Despite these strategies to reduce the level of credit risk, the rural bank is still confronted by several challenges in the management of credit risk including the diversion of loans, customer business failure, inadequate appraisal, inadequate monitoring, inadequate credit staff, inadequate security, staff attitude and staff influence. Based on these findings, the study recommends the provision of training programmes for credit officers, the need for adequate loan management educational programmes and the need for effective follow up of credit on continuous basis from disbursement to full payment.

Source: KNUST
Effect of crude ethanolic leaf extract of soursop Annona muricata L.) on eggplant shoot and fruit borer (leucinodes orbonalis guen.)

Eggplant is an important source of income to rural farmers who grow the crop either once or twice a year to augment income from other farming activities. The main production constraint apart from unpredictable weather is damage to shoots, flowers and fruits of the plant by the eggplant shoot and fruit borer, Leucinodes orbonalis (Guen.). The use of synthetic insecticides for the control of this borer has been the standard practice. However, an increasing awareness of the environmental hazards associated with insecticide use as well as the high costs of control is intensifying the demand for a less hazardous form of control. Biopesticides have long been an alternative to synthetic chemical insecticides for pest management because botanicals apparently pose little threat to the environment and to human health. Literature documenting bioactivity of plant derivatives to insect pests continue to increase, yet only a handful of botanicals are currently used in agriculture. Products based on pyrethrum, rotenone and azadirachtin have been used at different levels of sophistication. This study investigated the bioactivity of Annona muricata ethanolic leaf extract against L. orbonalis on eggplant in the field. Three levels of the leaf extract - 0.25%, 0.50% and 1.0% - were tested along with a synthetic insecticide Dimethoate and water control to assess the potency of the extract in controlling the damage inflicted on the shoots, flowers and fruits of eggplant by L. orbonalis. Results from the investigation showed that the leaf extract was fairly effective against L. orbonalis. Even though the extract could not completely prevent damage to shoots, flowers and the fruits of the eggplant, it significantly reduced the damage even though not as effective as Dimethoate.

Source: KNUST
Effect of crop rotation and nitrogen fertilization on yield and nitrogen efficiency in maize in the northern Guinea savanna of Nigeria

Two crop rotation cycles were evaluated to determine the effect of cropping systems and N fertilization on the yield and efficiency of N in maize. Maize was grown on plots which had previously supported monocrops of two genotypes each of soybean (TGx 1448-2E and SAMSOY-2) and cowpea (IT 96D-724 and SAMPEA-7), natural fallow and maize. In a split-plot experimental design, three N fertilizer rates (30, 60 and 90 kg ha-1) and an unfertilized control were compared. On average, maize following legumes had higher grain yield of 1.2 and 1.3-fold compared with maize after fallow or maize after maize respectively. Similarly, legume rotation resulted in significant increase in total N uptake compared to continuous maize. In both years, N agronomic efficiency (AEN) and N fertilizer recovery efficiency (REN) of maize following grain legumes were on average 14 and 34% greater than of maize following maize and 12 and 20% greater than of maize following fallow respectively. On the other hand, all N efficiency indices except N physiological efficiency significantly decreased with increasing N levels. These indicate greater N use efficiency for the legume-rotation and poor efficiency for maize monoculture as well as the inefficiency of the current method of N fertilizer application.

Source: KNUST