The paper examined the effects of globalisation on small and medium-sized enterprises (SMEs) perf... more The paper examined the effects of globalisation on small and medium-sized enterprises (SMEs) performance in Ghana. By using the case study approach, the study selected the Kumasi Metropolis as the area for this study. The research delved into the level of familiarity of globalisation among SMEs, examined the influence of globalisation on SMEs performance and assessed the prospects and challenges globalisation poses on the SMEs market in Kumasi. Due to the nature of the population, a sample of 200 SMEs was selected for the study through purposive sampling. The study's results revealed that the levels of awareness of globalisation among SMEs are generally known. Furthermore, most of the respondents consented that globalisation affects SMEs in acquiring knowledge and experience. Other enumerated effects include the availability of raw materials to increase performance, higher profits and better consultations with customers abroad than the domestic market. The study further found that the globalisation of SMEs was significantly affected by the level of competition from overseas competitors. Among others, the study recommended that the managerial capabilities of entrepreneurs of SMEs should be enhanced through periodic globalisation-based training programs, thereby acquiring in-depth comprehension of issues about globalisation and creating an enabling environment for SMEs to embrace globalisation.
International Journal of Economics, Commerce and Management , 2019
Conducting industry-specific research in terms of product design award announcements is scanty in... more Conducting industry-specific research in terms of product design award announcements is scanty in extant literature. Moreover, it has been established that emphasizing design in product development teams contributes to new product success. Thus, this research empirically examines the economic impact that winning a product design award as a proxy for successful strategic management product decisions (SMPDs) has on firms in the computer, electronic and communication industry (CECI). Through event study approach, we adopt the market model to estimate the abnormal returns generated from product design award announcements. The results suggest that winning product design awards yield positive market reaction as the market value of firms in CECI is increased by 1.06 on the average over a three-day event period. The findings also indicate that smaller firms experienced more positive market reaction than larger firms. Moreover, the reaction is more significantly positive for first time win of product design award than multiple wins. The study recommendations managers to conduct periodic product design audit-assess the vital areas of the firm such as brand, product and service development, work practices and customer communication and then determine the key roles design plays in them.
This research studies the effect of new product introduction prize (NPIP) announcements on firm v... more This research studies the effect of new product introduction prize (NPIP) announcements on firm value, applying event study methodology to 509 NPIP announcements between the period of 2001-2015. Specifically, the study focuses on NPIP announcements made in the computer, electronic and communication industry (CECI). It analyzes the short-term effect of market value caused by NPIP announcements within two-day event window (Days-1 and 0) by using market model. We established that NPIP announcements are perceived by investors as positive news, resulting in significant positive cumulative abnormal returns (CARs). Having controlled for firm-specific effects, (reputation and R&D intensity), we observed that stock market responds more positively to NPIPs attained by small-sized firms than large-sized firms. In addition, stock market reaction to firms that won NPIP from third-party prize schemes is more positive than winning from prize schemes within the firms' supply chain. Due to the indispensable financial rewards accumulated by firms winning NPIPs, the conclusions of this research are very valuable to managers in the allocation of more resources towards augmenting their firms' new product development capabilities.
Several studies have evolved to deal with the determinants of stock market volatility. However, t... more Several studies have evolved to deal with the determinants of stock market volatility. However, there exists a gap in literature with regards to the interrelation among the broad categories of factors that trigger stock market reaction namely company fundaments, technical factors and market sentiments. This paper provides a holistic and comprehensive theoretical review of drivers of stock markets’ reaction as well as designs an interrelated conceptual framework of the factors that influence investors’ decision making to fill the gap in literature. Brexit is presented as a case study to illustrate how investors and stock markets are affected by new events or information. This study will reveal some of the global staggering effects of Brexit at the end of trading on June 24, 2016 in areas such as currencies, stock markets, banks, commodities, bonds, automakers and homebuilders as well as hedge fund. Barely 24 hours after the results of Brexit were declared; global stock markets lost about $2 trillion in value. The British pound plunged to almost $1.33, its lowest level in over 30 years against the US dollar and gold proved to be one of the few safe havens for investors on that day. In order for investors to insulate themselves against loses from Black Swans events, the conclusion of this study recommends some protective mechanisms for investors which include avoidance of overexposure and stockpiling of cash.
Revenues generated from taxes constitute a major source of income for governments. However, the e... more Revenues generated from taxes constitute a major source of income for governments. However, the epic display of tax evasion by individuals and firms in most countries has induced researches on the factors accounting for tax evasion in developing countries. Therefore, this study is conducted to investigate the effect of personal income tax evasion on economic growth in Ghana. Questionnaires were submitted to 153 respondents to investigate personal income tax evasion and socio-economic development with 109 respondents and 44 tax authority respondents from the informal sector in the Tema Metropolitan Assembly of Ghana. Regression analysis employed in our study depicted the results of the impact of personal income tax evasion on socio-economic development. The results of the study revealed that tax evasion in Ghana has an adverse influence on Socio-Economic Development. Furthermore, a liaison between tax rate and tax evasion was established. In other words, high tax rates amounts to high tax evasion tendency. The study further revealed that tax payers’ relationship with tax authorities has no linkage to the evasion of taxes. Moreover, the existence of weak penalties towards tax evasion also do not contribute to the evasion of taxes. The study conclude with recommendations to policy makers to aide in curbing the high incidence of tax evasion in Ghana.
The phase of the entire banking industry is rapidly changing in the 21st century. A focus-shift f... more The phase of the entire banking industry is rapidly changing in the 21st century. A focus-shift from traditional banking to new service delivery channels is paramount among many banks to provide customers with 24/7 (around-the-clock) access to banking services for improved customer service delivery. Herein, we investigate into the impact of electronic banking (e-banking) service delivery on customer satisfaction in Ghana. A purposive non-probability sampling technique was utilized in a 150 sample-size selection from e-banking customers of Trust Bank Ghana Limited, Ecobank Ghana Limited and Barclays Bank Ghana Limited (50 from each bank). SPSS Statistics version 21 was used to analyze the primary data. Multiple regression analysis was performed to determine the impact of e-banking service delivery on satisfaction of customers in the selected banks. For this study, a positive correlation between customer satisfaction and e-baking availability, reliability and convenience is established. It is therefore recommended that banks provide customers with uninterrupted, reliable and convenient e-banking services in order to satisfy and retain customers.
The increasing use of temporary workers (dispatched labour) has become contentious in China since... more The increasing use of temporary workers (dispatched labour) has become contentious in China since the implementation of China’s Labour Contract Law in 2008. Supporters of the Temporary Staffing Agency Employment (TSAE) industry in China, consider it as a cost-cutting, human resource-management tool for solving unemployment whiles its critics consider the industry as a means for companies to make workers more “flexible” with less protection.This study uses individual level analysis to assess the impact of the human factors (commitment to firm and agency, job security, job satisfaction and job stress) on the overall performance or output of dispatched or temporary workers in Temporary Staffing Agencies Employment (TSAE) in China. The study finds a statistically significant positive relation between job security and performance, commitment to Firm and performance as well as commitment to agency and performance. Furthermore, the study finds a negative relationship between job stress and performance as well as between job satisfaction and performance. Moreover, the study also finds that correlations among the independent variables highly impact on employee performance. The study also finds that the Chinese culture has an overarching influence on the impact of the human factors on the overall employee performance. The paper acknowledges the complexity underlying the concept of TSAE in China and recommends further studies to broaden knowledge and understanding, especially the interactions between culture, the human factors and performance.
In today’s world, the role of Information Technology (IT) has become an essential tool to the
suc... more In today’s world, the role of Information Technology (IT) has become an essential tool to the success of every business. A major strategy in ensuring cost reduction, security and remaining efficient and effective in today’s modern business environment is the use of recently emerged IT in business. Better decision-making among businesses will elevate the danger of failure and instead remain competitive. This paper sought to assess the relevance of IT on accounting practices in relation to financial reporting by Small and Medium Scale Enterprises (SMEs) in Ghana; that is determining whether or not IT systems have better influence on accounting practices in relation to organizational performances. Majority of SMEs used in the study indicated that IT provide security with financial information, hence the result of this research showed positive correlation between IT and its usage in financial reporting. According to this study, the use of IT has a positive impact on the accounting practices which directly enhance performance of businesses. Business organizations are however encouraged to embrace IT systems in full capacity for their accounting practices to ensure fast track of their financial reporting to users of accounting information. It would be added advantage if government of developing countries will advocate and create more awareness on the importance of IT in business to ensure development.
Inflation, and its deleterious effects on economies, has for long been the worry of governments e... more Inflation, and its deleterious effects on economies, has for long been the worry of governments especially among developing countries including Ghana. Several studies on the Ghanaian economy, have concluded that inflation in Ghana is purely a monetary phenomenon though in reality, the causes of inflation are numerous and vary. The main objective of this paper was to identify the key determinants of inflation in Ghana using the most recent monthly data from January 2000 to December 2014 (data period of 180 months). The study tested whether or not Crude Oil Price at the World Market, Exchange Rate, and Electioneering Spillover Quaternary Effects (ESQE) statistically affect inflation in Ghana either individually or jointly. The study found that crude oil price at the world market, exchange rate, and ESQE are key determinants of inflation in Ghana. The findings indicate a positive relationship between Crude Oil Price at the world market and Inflation, Cedi-Dollar Exchange Rate and Inflation as well as ESQE and Inflation (in the case ESQE, the study considered the first quarter of each post-election year within the data period). Each of the determinants: Crude Oil Price, Exchange Rate and ESQE was statistically significant at 1%. The study also indicated a high R-squared of more than 95% for the joint impact of all three determinants on inflation. This means that jointly, Crude Oil Price, Exchange Rate, and ESQE explain more than 95% of the variation in inflation in Ghana. The paper recommends further study into this subject matter by considering many other potential determinants of inflation in Ghana and the developing world as a whole.
The growth of Microfinance Institutions (MFIs) has been increasing all over the world since its e... more The growth of Microfinance Institutions (MFIs) has been increasing all over the world since its emergence in Bangladesh in the 1970‘s. The modu operandi of MFIs are geared towards the provision of financial assistance to the poor and low income earners for the purpose building social capital. MFIs are therefore established to serve as poverty alleviation tool in the world especially in developing countries. In order to prevent MFIs from operating ultra vires and exploiting their clientele, it is imperative to have an efficient and effective regulatory and supervisory framework for their operations. It is in the light of this that this paper theoretically undertakes a comparative study on the existing regulatory frameworks for MFIs in Ghana and Nigeria. The paper also highlights the rationale for regulating MFIs as well as levels of regulation. Moreover, the paper presents the regulatory framework for MFIs for the two countries under study together with some challenges encountered in the implementation of the regulatory frameworks. The paper concludes with some policy recommendations to help achieve the goals for which MFIs were instituted.
Great strategies are worth nothing if they cannot be implemented [1]. It can be extended to say t... more Great strategies are worth nothing if they cannot be implemented [1]. It can be extended to say that better to implement effectively a second grade strategy than to ruin a first class strategy with ineffective implementation [2]. Thus, effective implementation of strategies is important to the success of every entity. There are many ways of classifications of strategy. However, there are ten schools of thought that dominate recent thinking on strategy. These ten schools or models of strategy formulation were proposed by Henry Mintzberg, Bruce Ahlstrand and Joseph Lampel in their book “Strategy Safari: A Guided Tour through the Wilds of Strategic Management”. The “learning school” is one of these schools. From the perspective of this school, there is the emergence of strategies as people act individually but most of the time through concerted efforts, learning about a phenomenon as well as their entity’s competence in dealing with it. There are criticisms of this model saying there is the danger of going to the opposite extreme which may result in no strategy, lost strategy or wrong strategy. However, the study provides insight into the adoption and application of this strategy as well as the enormous benefits that accrue to learning organizations. The authors, having reviewed a vast number of literature, have summarized the concept of the learning school as “all hands-on-deck phenomenon” where individuals or employees are empowered in teams to improve their desire and ability to create and explore what they want in order to understand and manage the organization and its task environment.
Logistics is vital to the life of city residents because it is a major provider of wealth and a s... more Logistics is vital to the life of city residents because it is a major provider of wealth and a source of employment. However, the concentration of logistics facilities and distribution in large metropolitan areas often cause nuisance due to trucks and small van traffic, with its attendant air pollution, gas emissions, noise, etc. Aside these problems, if well managed, it can help in improving environmental conditions in major cities. Cities would need comprehensive logistics plans and management, covering planning for infrastructure and transportation policies to maximize its impact and benefits to society. The provision of appropriate urban logistics services is slow in emerging economies despite growing needs due to poor land practices and indiscipline. Logistics cost in the cities is higher because freight transportation is mainly done by road. This paper presents an overview of city logistics trends, developments and implications to cities and its inhabitants in Ghana using Accra as a case study. It (1) identified the current development; (2) identified and discussed the impact of natural and man-made hazards; and (3) identify the challenges of city logistics in Accra and how these could be managed. Despite these problems identified, some solutions were identified and presented at the concluding section.
Financing Small and Medium-Scale Enterprises (SMEs) to achieve the desirable growth and expansion... more Financing Small and Medium-Scale Enterprises (SMEs) to achieve the desirable growth and expansion has been topical for governments, policymakers, non-governmental organizations (NGOs), financial and non-financial institutions. The recent upsurge in the interest of finding ways of bridging the financing gap faced by SMEs by these stakeholders have been necessitated by the enormous contributions of SMEs to the economic development and growth of countries in areas of job creation, GDP and entrepreneurial skill development. This research therefore sought to access the role of one of the stakeholders, microfinance institutions (MFIs) in helping to bridge the financing gap faced by SMEs in Ghana. The research established that there was indeed the existence of SME financing gap in the country as most of them were denied access to credit by commercial banks and other financial institutions. The research revealed that the operations of microfinance institutions (MFIs) are having positive impact on SMEs. The study also revealed some risk mitigation tools used by MFIs in granting loans to SMEs which included provision of collateral security in the form of land or any other valuable asset, business records, credit history among others. The research concluded with some recommendations on how the SME financing gap can further be bridged by MFIs and other stakeholders which included provision of support services to SMEs by MFIs such as training services in credit management as well as the need for MFIs to improve service delivery such as faster loan approval times.
The study was conducted to find out how the establishment of Catholic Diocese had impacted positi... more The study was conducted to find out how the establishment of Catholic Diocese had impacted positively or otherwise on the lives of the people in the Northern part of the Volta Region. The survey used research tools including questionnaire administration, interviews, personal observation and the review of related literature. The findings of the research showed a number of important issues. The study showed that the Diocese was vigorously pursuing programmes and projects such as in education, health, agriculture, and women's development. The research showed that the policies being pursued were also contributing to the poverty reduction programmes of the various District Assemblies in the Northern part of the Volta Region. The study concluded with some recommendations. Among the recommendations is the need to orientate and inculcate the concept of self-reliance in the people. It is important to indicate that for proper self-reliance, the Diocese must take local economic planning very seriously. This means there must be a re-thinking of the whole structure of the church. The Diocese can encourage all parishes to embark on a “green revolution” where more farms could be established and maintained. On education, it is highly recommended that the Diocese should come up with a 5-year strategic plan for the development of education in the Diocese. It became clear from the study that the process of reducing poverty in any community is not an easy task and so the Diocese having taken it upon itself to contribute to the reduction of poverty in the Northern part of the Volta Region would need the unflinching support of all stakeholders especially the District Assemblies in bringing about the needed change in the life of the people.
This study sought to examine the effectiveness of the Ghana National Service Scheme on-line regis... more This study sought to examine the effectiveness of the Ghana National Service Scheme on-line registration process of service personnel in the Ashanti Region of Ghana. The National Service Scheme introduces the online posting-checker system in May 2007 to ensure that registration and posting of prospective service personnel was made easier, faster, more accurate and more convenient. However, the system is fraught with many problems and other shortcomings hence the commencement of this study. The National Service Scheme plays a crucial role in augmenting the manpower requirements of the country, particularly in the public and civil service. It was established by The National Service Scheme Decree, 1973 (NRCD. 208) which was repealed by the Ghana National Service Scheme Act, 1980 (ACT 426) assented on 23rd September, 1980. The National Service Scheme is an agency established under the ministry of education with the mandate of mobilizing and deploying Ghanaian newly qualified university graduates and diplomats on national priority development programs that contribute to improving the quality of life of the ordinary Ghanaian for a year of mandatory national service. Hence the basic goal was for the service personnel to exercise their civil responsibility to the nation through service. The objective of this study is to ascertain whether the introduction of the online registration for newly recruited national service personnel has helped to improve upon the scheme as well as discuss the features of the online registration process and security problems it pose. In conducting the study data was collected from two hundred respondents in the Ashanti Region through the use of a simple random sampling. Some key findings that came out of the study were, impersonation of personnel, a completed enrollment can be accessed by other persons, although a unique personal code or number is issued to all national service persons, the majority of them obtained this code through the school notice board, the security measures that ensure that the rightful person gets assess to PIN codes are done haphazardly without any form of verification. It was concluded that since it is not best for a completed enrollment form to be accessed by another, the online registration has increased impersonation and need to be addressed.
The paper examined the effects of globalisation on small and medium-sized enterprises (SMEs) perf... more The paper examined the effects of globalisation on small and medium-sized enterprises (SMEs) performance in Ghana. By using the case study approach, the study selected the Kumasi Metropolis as the area for this study. The research delved into the level of familiarity of globalisation among SMEs, examined the influence of globalisation on SMEs performance and assessed the prospects and challenges globalisation poses on the SMEs market in Kumasi. Due to the nature of the population, a sample of 200 SMEs was selected for the study through purposive sampling. The study's results revealed that the levels of awareness of globalisation among SMEs are generally known. Furthermore, most of the respondents consented that globalisation affects SMEs in acquiring knowledge and experience. Other enumerated effects include the availability of raw materials to increase performance, higher profits and better consultations with customers abroad than the domestic market. The study further found that the globalisation of SMEs was significantly affected by the level of competition from overseas competitors. Among others, the study recommended that the managerial capabilities of entrepreneurs of SMEs should be enhanced through periodic globalisation-based training programs, thereby acquiring in-depth comprehension of issues about globalisation and creating an enabling environment for SMEs to embrace globalisation.
International Journal of Economics, Commerce and Management , 2019
Conducting industry-specific research in terms of product design award announcements is scanty in... more Conducting industry-specific research in terms of product design award announcements is scanty in extant literature. Moreover, it has been established that emphasizing design in product development teams contributes to new product success. Thus, this research empirically examines the economic impact that winning a product design award as a proxy for successful strategic management product decisions (SMPDs) has on firms in the computer, electronic and communication industry (CECI). Through event study approach, we adopt the market model to estimate the abnormal returns generated from product design award announcements. The results suggest that winning product design awards yield positive market reaction as the market value of firms in CECI is increased by 1.06 on the average over a three-day event period. The findings also indicate that smaller firms experienced more positive market reaction than larger firms. Moreover, the reaction is more significantly positive for first time win of product design award than multiple wins. The study recommendations managers to conduct periodic product design audit-assess the vital areas of the firm such as brand, product and service development, work practices and customer communication and then determine the key roles design plays in them.
This research studies the effect of new product introduction prize (NPIP) announcements on firm v... more This research studies the effect of new product introduction prize (NPIP) announcements on firm value, applying event study methodology to 509 NPIP announcements between the period of 2001-2015. Specifically, the study focuses on NPIP announcements made in the computer, electronic and communication industry (CECI). It analyzes the short-term effect of market value caused by NPIP announcements within two-day event window (Days-1 and 0) by using market model. We established that NPIP announcements are perceived by investors as positive news, resulting in significant positive cumulative abnormal returns (CARs). Having controlled for firm-specific effects, (reputation and R&D intensity), we observed that stock market responds more positively to NPIPs attained by small-sized firms than large-sized firms. In addition, stock market reaction to firms that won NPIP from third-party prize schemes is more positive than winning from prize schemes within the firms' supply chain. Due to the indispensable financial rewards accumulated by firms winning NPIPs, the conclusions of this research are very valuable to managers in the allocation of more resources towards augmenting their firms' new product development capabilities.
Several studies have evolved to deal with the determinants of stock market volatility. However, t... more Several studies have evolved to deal with the determinants of stock market volatility. However, there exists a gap in literature with regards to the interrelation among the broad categories of factors that trigger stock market reaction namely company fundaments, technical factors and market sentiments. This paper provides a holistic and comprehensive theoretical review of drivers of stock markets’ reaction as well as designs an interrelated conceptual framework of the factors that influence investors’ decision making to fill the gap in literature. Brexit is presented as a case study to illustrate how investors and stock markets are affected by new events or information. This study will reveal some of the global staggering effects of Brexit at the end of trading on June 24, 2016 in areas such as currencies, stock markets, banks, commodities, bonds, automakers and homebuilders as well as hedge fund. Barely 24 hours after the results of Brexit were declared; global stock markets lost about $2 trillion in value. The British pound plunged to almost $1.33, its lowest level in over 30 years against the US dollar and gold proved to be one of the few safe havens for investors on that day. In order for investors to insulate themselves against loses from Black Swans events, the conclusion of this study recommends some protective mechanisms for investors which include avoidance of overexposure and stockpiling of cash.
Revenues generated from taxes constitute a major source of income for governments. However, the e... more Revenues generated from taxes constitute a major source of income for governments. However, the epic display of tax evasion by individuals and firms in most countries has induced researches on the factors accounting for tax evasion in developing countries. Therefore, this study is conducted to investigate the effect of personal income tax evasion on economic growth in Ghana. Questionnaires were submitted to 153 respondents to investigate personal income tax evasion and socio-economic development with 109 respondents and 44 tax authority respondents from the informal sector in the Tema Metropolitan Assembly of Ghana. Regression analysis employed in our study depicted the results of the impact of personal income tax evasion on socio-economic development. The results of the study revealed that tax evasion in Ghana has an adverse influence on Socio-Economic Development. Furthermore, a liaison between tax rate and tax evasion was established. In other words, high tax rates amounts to high tax evasion tendency. The study further revealed that tax payers’ relationship with tax authorities has no linkage to the evasion of taxes. Moreover, the existence of weak penalties towards tax evasion also do not contribute to the evasion of taxes. The study conclude with recommendations to policy makers to aide in curbing the high incidence of tax evasion in Ghana.
The phase of the entire banking industry is rapidly changing in the 21st century. A focus-shift f... more The phase of the entire banking industry is rapidly changing in the 21st century. A focus-shift from traditional banking to new service delivery channels is paramount among many banks to provide customers with 24/7 (around-the-clock) access to banking services for improved customer service delivery. Herein, we investigate into the impact of electronic banking (e-banking) service delivery on customer satisfaction in Ghana. A purposive non-probability sampling technique was utilized in a 150 sample-size selection from e-banking customers of Trust Bank Ghana Limited, Ecobank Ghana Limited and Barclays Bank Ghana Limited (50 from each bank). SPSS Statistics version 21 was used to analyze the primary data. Multiple regression analysis was performed to determine the impact of e-banking service delivery on satisfaction of customers in the selected banks. For this study, a positive correlation between customer satisfaction and e-baking availability, reliability and convenience is established. It is therefore recommended that banks provide customers with uninterrupted, reliable and convenient e-banking services in order to satisfy and retain customers.
The increasing use of temporary workers (dispatched labour) has become contentious in China since... more The increasing use of temporary workers (dispatched labour) has become contentious in China since the implementation of China’s Labour Contract Law in 2008. Supporters of the Temporary Staffing Agency Employment (TSAE) industry in China, consider it as a cost-cutting, human resource-management tool for solving unemployment whiles its critics consider the industry as a means for companies to make workers more “flexible” with less protection.This study uses individual level analysis to assess the impact of the human factors (commitment to firm and agency, job security, job satisfaction and job stress) on the overall performance or output of dispatched or temporary workers in Temporary Staffing Agencies Employment (TSAE) in China. The study finds a statistically significant positive relation between job security and performance, commitment to Firm and performance as well as commitment to agency and performance. Furthermore, the study finds a negative relationship between job stress and performance as well as between job satisfaction and performance. Moreover, the study also finds that correlations among the independent variables highly impact on employee performance. The study also finds that the Chinese culture has an overarching influence on the impact of the human factors on the overall employee performance. The paper acknowledges the complexity underlying the concept of TSAE in China and recommends further studies to broaden knowledge and understanding, especially the interactions between culture, the human factors and performance.
In today’s world, the role of Information Technology (IT) has become an essential tool to the
suc... more In today’s world, the role of Information Technology (IT) has become an essential tool to the success of every business. A major strategy in ensuring cost reduction, security and remaining efficient and effective in today’s modern business environment is the use of recently emerged IT in business. Better decision-making among businesses will elevate the danger of failure and instead remain competitive. This paper sought to assess the relevance of IT on accounting practices in relation to financial reporting by Small and Medium Scale Enterprises (SMEs) in Ghana; that is determining whether or not IT systems have better influence on accounting practices in relation to organizational performances. Majority of SMEs used in the study indicated that IT provide security with financial information, hence the result of this research showed positive correlation between IT and its usage in financial reporting. According to this study, the use of IT has a positive impact on the accounting practices which directly enhance performance of businesses. Business organizations are however encouraged to embrace IT systems in full capacity for their accounting practices to ensure fast track of their financial reporting to users of accounting information. It would be added advantage if government of developing countries will advocate and create more awareness on the importance of IT in business to ensure development.
Inflation, and its deleterious effects on economies, has for long been the worry of governments e... more Inflation, and its deleterious effects on economies, has for long been the worry of governments especially among developing countries including Ghana. Several studies on the Ghanaian economy, have concluded that inflation in Ghana is purely a monetary phenomenon though in reality, the causes of inflation are numerous and vary. The main objective of this paper was to identify the key determinants of inflation in Ghana using the most recent monthly data from January 2000 to December 2014 (data period of 180 months). The study tested whether or not Crude Oil Price at the World Market, Exchange Rate, and Electioneering Spillover Quaternary Effects (ESQE) statistically affect inflation in Ghana either individually or jointly. The study found that crude oil price at the world market, exchange rate, and ESQE are key determinants of inflation in Ghana. The findings indicate a positive relationship between Crude Oil Price at the world market and Inflation, Cedi-Dollar Exchange Rate and Inflation as well as ESQE and Inflation (in the case ESQE, the study considered the first quarter of each post-election year within the data period). Each of the determinants: Crude Oil Price, Exchange Rate and ESQE was statistically significant at 1%. The study also indicated a high R-squared of more than 95% for the joint impact of all three determinants on inflation. This means that jointly, Crude Oil Price, Exchange Rate, and ESQE explain more than 95% of the variation in inflation in Ghana. The paper recommends further study into this subject matter by considering many other potential determinants of inflation in Ghana and the developing world as a whole.
The growth of Microfinance Institutions (MFIs) has been increasing all over the world since its e... more The growth of Microfinance Institutions (MFIs) has been increasing all over the world since its emergence in Bangladesh in the 1970‘s. The modu operandi of MFIs are geared towards the provision of financial assistance to the poor and low income earners for the purpose building social capital. MFIs are therefore established to serve as poverty alleviation tool in the world especially in developing countries. In order to prevent MFIs from operating ultra vires and exploiting their clientele, it is imperative to have an efficient and effective regulatory and supervisory framework for their operations. It is in the light of this that this paper theoretically undertakes a comparative study on the existing regulatory frameworks for MFIs in Ghana and Nigeria. The paper also highlights the rationale for regulating MFIs as well as levels of regulation. Moreover, the paper presents the regulatory framework for MFIs for the two countries under study together with some challenges encountered in the implementation of the regulatory frameworks. The paper concludes with some policy recommendations to help achieve the goals for which MFIs were instituted.
Great strategies are worth nothing if they cannot be implemented [1]. It can be extended to say t... more Great strategies are worth nothing if they cannot be implemented [1]. It can be extended to say that better to implement effectively a second grade strategy than to ruin a first class strategy with ineffective implementation [2]. Thus, effective implementation of strategies is important to the success of every entity. There are many ways of classifications of strategy. However, there are ten schools of thought that dominate recent thinking on strategy. These ten schools or models of strategy formulation were proposed by Henry Mintzberg, Bruce Ahlstrand and Joseph Lampel in their book “Strategy Safari: A Guided Tour through the Wilds of Strategic Management”. The “learning school” is one of these schools. From the perspective of this school, there is the emergence of strategies as people act individually but most of the time through concerted efforts, learning about a phenomenon as well as their entity’s competence in dealing with it. There are criticisms of this model saying there is the danger of going to the opposite extreme which may result in no strategy, lost strategy or wrong strategy. However, the study provides insight into the adoption and application of this strategy as well as the enormous benefits that accrue to learning organizations. The authors, having reviewed a vast number of literature, have summarized the concept of the learning school as “all hands-on-deck phenomenon” where individuals or employees are empowered in teams to improve their desire and ability to create and explore what they want in order to understand and manage the organization and its task environment.
Logistics is vital to the life of city residents because it is a major provider of wealth and a s... more Logistics is vital to the life of city residents because it is a major provider of wealth and a source of employment. However, the concentration of logistics facilities and distribution in large metropolitan areas often cause nuisance due to trucks and small van traffic, with its attendant air pollution, gas emissions, noise, etc. Aside these problems, if well managed, it can help in improving environmental conditions in major cities. Cities would need comprehensive logistics plans and management, covering planning for infrastructure and transportation policies to maximize its impact and benefits to society. The provision of appropriate urban logistics services is slow in emerging economies despite growing needs due to poor land practices and indiscipline. Logistics cost in the cities is higher because freight transportation is mainly done by road. This paper presents an overview of city logistics trends, developments and implications to cities and its inhabitants in Ghana using Accra as a case study. It (1) identified the current development; (2) identified and discussed the impact of natural and man-made hazards; and (3) identify the challenges of city logistics in Accra and how these could be managed. Despite these problems identified, some solutions were identified and presented at the concluding section.
Financing Small and Medium-Scale Enterprises (SMEs) to achieve the desirable growth and expansion... more Financing Small and Medium-Scale Enterprises (SMEs) to achieve the desirable growth and expansion has been topical for governments, policymakers, non-governmental organizations (NGOs), financial and non-financial institutions. The recent upsurge in the interest of finding ways of bridging the financing gap faced by SMEs by these stakeholders have been necessitated by the enormous contributions of SMEs to the economic development and growth of countries in areas of job creation, GDP and entrepreneurial skill development. This research therefore sought to access the role of one of the stakeholders, microfinance institutions (MFIs) in helping to bridge the financing gap faced by SMEs in Ghana. The research established that there was indeed the existence of SME financing gap in the country as most of them were denied access to credit by commercial banks and other financial institutions. The research revealed that the operations of microfinance institutions (MFIs) are having positive impact on SMEs. The study also revealed some risk mitigation tools used by MFIs in granting loans to SMEs which included provision of collateral security in the form of land or any other valuable asset, business records, credit history among others. The research concluded with some recommendations on how the SME financing gap can further be bridged by MFIs and other stakeholders which included provision of support services to SMEs by MFIs such as training services in credit management as well as the need for MFIs to improve service delivery such as faster loan approval times.
The study was conducted to find out how the establishment of Catholic Diocese had impacted positi... more The study was conducted to find out how the establishment of Catholic Diocese had impacted positively or otherwise on the lives of the people in the Northern part of the Volta Region. The survey used research tools including questionnaire administration, interviews, personal observation and the review of related literature. The findings of the research showed a number of important issues. The study showed that the Diocese was vigorously pursuing programmes and projects such as in education, health, agriculture, and women's development. The research showed that the policies being pursued were also contributing to the poverty reduction programmes of the various District Assemblies in the Northern part of the Volta Region. The study concluded with some recommendations. Among the recommendations is the need to orientate and inculcate the concept of self-reliance in the people. It is important to indicate that for proper self-reliance, the Diocese must take local economic planning very seriously. This means there must be a re-thinking of the whole structure of the church. The Diocese can encourage all parishes to embark on a “green revolution” where more farms could be established and maintained. On education, it is highly recommended that the Diocese should come up with a 5-year strategic plan for the development of education in the Diocese. It became clear from the study that the process of reducing poverty in any community is not an easy task and so the Diocese having taken it upon itself to contribute to the reduction of poverty in the Northern part of the Volta Region would need the unflinching support of all stakeholders especially the District Assemblies in bringing about the needed change in the life of the people.
This study sought to examine the effectiveness of the Ghana National Service Scheme on-line regis... more This study sought to examine the effectiveness of the Ghana National Service Scheme on-line registration process of service personnel in the Ashanti Region of Ghana. The National Service Scheme introduces the online posting-checker system in May 2007 to ensure that registration and posting of prospective service personnel was made easier, faster, more accurate and more convenient. However, the system is fraught with many problems and other shortcomings hence the commencement of this study. The National Service Scheme plays a crucial role in augmenting the manpower requirements of the country, particularly in the public and civil service. It was established by The National Service Scheme Decree, 1973 (NRCD. 208) which was repealed by the Ghana National Service Scheme Act, 1980 (ACT 426) assented on 23rd September, 1980. The National Service Scheme is an agency established under the ministry of education with the mandate of mobilizing and deploying Ghanaian newly qualified university graduates and diplomats on national priority development programs that contribute to improving the quality of life of the ordinary Ghanaian for a year of mandatory national service. Hence the basic goal was for the service personnel to exercise their civil responsibility to the nation through service. The objective of this study is to ascertain whether the introduction of the online registration for newly recruited national service personnel has helped to improve upon the scheme as well as discuss the features of the online registration process and security problems it pose. In conducting the study data was collected from two hundred respondents in the Ashanti Region through the use of a simple random sampling. Some key findings that came out of the study were, impersonation of personnel, a completed enrollment can be accessed by other persons, although a unique personal code or number is issued to all national service persons, the majority of them obtained this code through the school notice board, the security measures that ensure that the rightful person gets assess to PIN codes are done haphazardly without any form of verification. It was concluded that since it is not best for a completed enrollment form to be accessed by another, the online registration has increased impersonation and need to be addressed.
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Papers by Isaac Quaye
trading on June 24, 2016 in areas such as currencies, stock markets, banks, commodities, bonds, automakers and homebuilders as well as hedge fund. Barely 24 hours after the results of Brexit were declared; global stock markets lost about $2 trillion in value. The British pound plunged to almost $1.33, its lowest level in over 30 years against the US dollar and gold proved to be one of the few safe havens for investors
on that day. In order for investors to insulate themselves against loses from Black Swans events, the conclusion of this study recommends some protective mechanisms for investors which include avoidance of overexposure and stockpiling of cash.
informal sector in the Tema Metropolitan Assembly of Ghana. Regression analysis employed in our study depicted the results of the impact of personal income tax evasion on socio-economic development. The results of the study revealed that tax evasion in Ghana has an adverse influence on Socio-Economic Development. Furthermore, a liaison between tax rate and tax evasion was established. In other words, high tax rates amounts to high tax evasion tendency. The study further revealed that tax payers’ relationship with tax authorities has no linkage to the evasion of taxes.
Moreover, the existence of weak penalties towards tax evasion also do not contribute to the evasion of taxes. The study conclude with recommendations to policy makers to aide in curbing the high incidence of tax evasion in Ghana.
delivery. Herein, we investigate into the impact of electronic banking (e-banking) service delivery on customer satisfaction in Ghana. A purposive non-probability sampling technique was utilized in a 150 sample-size selection from e-banking customers of Trust Bank Ghana Limited, Ecobank Ghana
Limited and Barclays Bank Ghana Limited (50 from each bank). SPSS Statistics version 21 was used to analyze the primary data. Multiple regression analysis was performed to determine the impact of e-banking service delivery on satisfaction of customers in the selected banks. For this
study, a positive correlation between customer satisfaction and e-baking availability, reliability and convenience is established. It is therefore recommended that banks provide customers with uninterrupted, reliable and convenient e-banking services in order to satisfy and retain customers.
culture, the human factors and performance.
success of every business. A major strategy in ensuring cost reduction, security and remaining
efficient and effective in today’s modern business environment is the use of recently emerged IT in business. Better decision-making among businesses will elevate the danger of failure and instead remain competitive. This paper sought to assess the relevance of IT on accounting practices in relation to financial reporting by Small and Medium Scale Enterprises (SMEs) in Ghana; that is determining whether or not IT systems have better influence on accounting practices in relation to organizational performances. Majority of SMEs used in the study indicated that IT provide security with financial information, hence the result of this research showed positive correlation between IT and its usage in financial reporting. According to this study, the use of IT has a positive impact on the accounting practices which directly enhance performance of businesses. Business organizations are however encouraged to embrace IT systems in full capacity for their accounting practices to ensure fast track of their financial reporting to users of accounting information. It would be added advantage if government of developing countries will advocate and create more awareness on the importance of IT in business to ensure development.
implementation of the regulatory frameworks. The paper concludes with some policy recommendations to help achieve the goals for which MFIs were instituted.
trading on June 24, 2016 in areas such as currencies, stock markets, banks, commodities, bonds, automakers and homebuilders as well as hedge fund. Barely 24 hours after the results of Brexit were declared; global stock markets lost about $2 trillion in value. The British pound plunged to almost $1.33, its lowest level in over 30 years against the US dollar and gold proved to be one of the few safe havens for investors
on that day. In order for investors to insulate themselves against loses from Black Swans events, the conclusion of this study recommends some protective mechanisms for investors which include avoidance of overexposure and stockpiling of cash.
informal sector in the Tema Metropolitan Assembly of Ghana. Regression analysis employed in our study depicted the results of the impact of personal income tax evasion on socio-economic development. The results of the study revealed that tax evasion in Ghana has an adverse influence on Socio-Economic Development. Furthermore, a liaison between tax rate and tax evasion was established. In other words, high tax rates amounts to high tax evasion tendency. The study further revealed that tax payers’ relationship with tax authorities has no linkage to the evasion of taxes.
Moreover, the existence of weak penalties towards tax evasion also do not contribute to the evasion of taxes. The study conclude with recommendations to policy makers to aide in curbing the high incidence of tax evasion in Ghana.
delivery. Herein, we investigate into the impact of electronic banking (e-banking) service delivery on customer satisfaction in Ghana. A purposive non-probability sampling technique was utilized in a 150 sample-size selection from e-banking customers of Trust Bank Ghana Limited, Ecobank Ghana
Limited and Barclays Bank Ghana Limited (50 from each bank). SPSS Statistics version 21 was used to analyze the primary data. Multiple regression analysis was performed to determine the impact of e-banking service delivery on satisfaction of customers in the selected banks. For this
study, a positive correlation between customer satisfaction and e-baking availability, reliability and convenience is established. It is therefore recommended that banks provide customers with uninterrupted, reliable and convenient e-banking services in order to satisfy and retain customers.
culture, the human factors and performance.
success of every business. A major strategy in ensuring cost reduction, security and remaining
efficient and effective in today’s modern business environment is the use of recently emerged IT in business. Better decision-making among businesses will elevate the danger of failure and instead remain competitive. This paper sought to assess the relevance of IT on accounting practices in relation to financial reporting by Small and Medium Scale Enterprises (SMEs) in Ghana; that is determining whether or not IT systems have better influence on accounting practices in relation to organizational performances. Majority of SMEs used in the study indicated that IT provide security with financial information, hence the result of this research showed positive correlation between IT and its usage in financial reporting. According to this study, the use of IT has a positive impact on the accounting practices which directly enhance performance of businesses. Business organizations are however encouraged to embrace IT systems in full capacity for their accounting practices to ensure fast track of their financial reporting to users of accounting information. It would be added advantage if government of developing countries will advocate and create more awareness on the importance of IT in business to ensure development.
implementation of the regulatory frameworks. The paper concludes with some policy recommendations to help achieve the goals for which MFIs were instituted.