Department of Accounting

Permanent URI for this collectionhttp://197.255.125.131:4000/handle/123456789/23052

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    Financing decision, ownership type and financial performance of listed non-financial companies in Ghana
    (Cogent Business & Management, 2023) Aboagye-Otchere, F.; Boateng, P.Y.
    The study aims to investigate the nexus between financing decision, ownership type and financial performance of listed non-financial companies in Ghana. Data were selected from 22 listed non-financial companies on the Ghana Stock Exchange from the years 2010 to 2021. A non-parametric estimation technique called robust OLS (Driscoll-Kraay) was employed to test the variables of interest. Findings indicate that long-term debt funding directly affects ROA, ROE and TQ negatively. Again, total debt funding posits a positive link with ROE and TQ. Moreover, the direct relationship between ownership type, financing decisionsand accounting-based performance measure (ROE) was insignificant but significant with market-based performance measure (TQ). Subsequently, the interaction role propelled ownership (foreign and state) to be significant on the relation between financing decision and financial performance. Largely, foreign-owned companies play a strong positive role on the link between financing decision and financial performance. Further, state ownership negatively affects the association between financing decision and financial performance. The study contributes to knowledge by considering the multiplier effect of ownership type on the relationship between financing decisions and financial performance in Ghana. For policy implication, regulators, specifically of state interest entities, should formulate balanced frameworks for welfare-seeking in public service delivery and performance for sustainability.
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    Environmental tax and global income inequality: A method of moments quantile regression analysis
    (Cogent Business & Management, 2023) Halidu, O.B.; Mohammed, A.; William, C.
    Even though Environmental tax policy impacts inequality theoretically, empirical studies remain scanty not only in the context of volumes and the estimation approaches but are also focused on selected advanced countries, communities, households, and emerging countries, the neglect of the global or big picture effect, which is essential for measuring the overall effect of the collective and individual country-concerted efforts in addressing this global cancer. We provide empirical evidence in the global context using the novel method of moments quantile regression. We found that Income Inequality across the globe is sharply reduced by restrictive environmental tax policy, a finding that has ramifications for global sustainable development, particularly in dealing with the ravaging effects of Covid-19.
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    Environmental tax, carbon emmission and female economic inclusion
    (Cogent Business & Management, 2023) Soku, M.G.; Amidu, M.; William, C.
    This research examines the nexus between environmental tax, carbon emission, and female economic inclusion. The study employs a quantitative research method, utilizing the Generalized method of moments (GMM) on a dataset of 65 countries from the period 1994 to 2020. The research finds that environmental tax has a significant negative effect on carbon emission and that firms with a higher level of female economic inclusion tend to have lower carbon emission levels. Furthermore, the research shows that firms with a higher level of female economic inclusion are more likely to implement environmentally sustainable practices, which in turn reduces their carbon emission levels. These findings suggest that policies that promote environmental taxation and female economic inclusion can be effective in reducing carbon emissions and promoting sustainable business practices. The sampling technique used in this study is purposive sampling, where 64 countries were selected based on their availability of data on environmental tax, carbon emissions, and female economic inclusion. The population of the study comprises all countries that have data available on these variables between the period of 1994 to 2020. While there are limitations to this study, including the need for further research to fully understand the complex relationship between environmental taxation, carbon emissions, and female economic inclusion, this research represents an important contribution to the literature on these critical issues.
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    Sustainability dimensions in the mission, vision and value statements of the largest corporations in Ghana: a sectoral analysis
    (International Journal of Law and Management, 2024) Marfo, E.O.; Amoako, K.O.; Arthur, J.L.; Yankey, N.
    Purpose – The purpose of this paper is to compare how the various sectors among the largest companies in Ghana have incorporated sustainability into their mission, vision and value statements. Design/methodology/approach – The mission, vision and value statements of the 100 largest corporations in Ghana, known as Ghana Club 100 (GC100), were extracted from the firms’ official websites. These firms were grouped into nine sectors, and the sustainability components in the mission, vision and value statements were subjected to cross tabulation and thematic contents analysis to establish the sectoral variations. Findings – In formulating their mission, vision and value statements, GC100 firms were more than six times likely to include economic sustainability themes than environmental sustainability themes. Even though three out of every five GC100 firms are financial institutions, the manufacturing and the extractive sectors and firms ranked 1st 20th are three times likely to incorporate all the sustainability dimensions (i.e. economic, social and environmental) into their mission, vision and value statements. Firms in the financial sector and those ranked 80thand 100th were more likely not to publish either a mission, vision or value statements online. Practical implications – This study reveals the magnitude of the strategic pronouncements such as mission, vision and value statements of large firms in emerging economies and how they are aligned with sustainability. This could serve as a basis for formulating guidelines to reinforce efforts that contribute to corporate sustainability. Originality/value – Research on how large firms align sustainability into their mission, vision and value statements is not a new agenda, but fragmented in the context of the emerging economies. The novelty is that Sustainability dimensions
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    Eradicating extreme poverty in Africa through productive inclusion: A comparative assessment of two social protection programmes in Ghana
    (International Review of Administrative Sciences, 2022) Amofa, S.K.; Owusu, G.M.Y.; Bawole, J.N.; Atta, M.
    Ghana has experimented with two social protection programmes: the Livelihood Empowerment Against Poverty (LEAP) programme, and the Japan Social Development Fund (JSDF) pilot project aimed at reducing extreme poverty and improving the standard of living of beneficiaries. This study comparatively assessed how the LEAP programme and the JSDF-LEAP project have contributed to improving the standard of living of beneficiaries. A sample of 167 respondents, comprising 81 LEAP households, 82 JSDF-LEAP beneficiaries and four District Social Welfare Officers, took part in the study. The study findings suggest that cash transfers alone, such as the LEAP program, may not yield significant improvement in the standard of living of the extreme poor without complementary programmes such as the JSDF-LEAP project to address the livelihood and other socio-economic challenges that they encounter. The study recommends a holistic approach to tackling extreme poverty through ‘cash plus. programmes.
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    Environmentally Sustainable Business Practices in Micro, Small, and Medium Enterprises: A Sub-Saharan African Country Perspective
    (Business Perspectives and Research, 2023) Anaman, P.D.; Ahmed, I.A.; Suleman, A.; Dzakah, G.A.
    In line with the natural resource-based view, this paper explores sustainable business practices (SBPs) of Ghanaian micro, small, and medium enterprises (MSMEs). Qualitatively, the study interviewed eight MSME operators and middle-level managers purposefully assess their use of SBPs and how it affects their businesses. The collected data were edited, coded, and grouped under themes based on the Braun and Clarke thematic framework. The study identified holistic environmental management, eco-preneurship, and regenerative practices as the environmental stewardship drivers among Ghanaian MSMEs. Also, integrated vision and strategy, process efficiency and resource optimization, and risk profiling drive process excellence. Finally, sustainability-focused leadership, internal advocates and change agents, and ongoing education and awareness as drivers for sustainability-oriented culture. The business practices of organizations have continually impacted the immediate environment within which they operate. Consequently, there is a clarion call for businesses to engage in SBPs to mitigate the effect of their operations on the environment. The study brings to bear the SBPs Ghanaian MSMEs are engaged in and how they affect their operations and survival, especially in this era of sustainability.
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    Time-varying connectedness and contagion between commodity prices and exchange rate in Sub-Saharan Africa
    (Cogent Economics & Finance, 2023) Opoku, R.T.; Isshaq, Z.M.; Adam, A.M.; Owusu, P.J.
    Market participants, policymakers, and practitioners might have ignored the connection between global commodities and the currency markets in sub-Saharan Africa and the potential for contagion at various time scales. We examine the degree of time-varying connectivity and contagion between commodities and the exchange rates of sub-Saharan African countries (SSA). We use the Barunik and Krehlik (BK18) spillover index on monthly data from 1990 to 2019 to illustrate the dynamic connectivity in the time and frequency domains. The BK18 captures the nonlinear, nonstationary, asymmetric, and time-dependent comovements in the relationship. Our analysis indicates that the relationship between commodity returns and exchange rates in Sub-Saharan Africa (SSA) is both time- and frequency-dependent, but stronger at higher frequencies. We observe that, among Of the three commodities, only crude oil is a dominant spillover propagator. The exchange rates of South Africa dominate spillover transmission among metal-producing countries, and those of Cote d’Ivoire dominate agricultural-producing countries. countries. The dynamic results reveal significant spillovers between commodities and exchange rates during economic turmoil, indicating contagion among the markets. Since uncertainty spillover is more severe amid market upheaval, investors should use their awareness of market dynamics and fluctuations to protect their holdings from lower asset returns. Policymakers should keep a close eye on spillovers because they endanger cross-market connections
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    Predictors of tax compliance intentions among self-employed individuals: the role of trust, perceived tax complexity and antecedent-based intervention strategies
    (Small Enterprise Research, 2021) Owusu, G.M.Y.; Bekoe, R.A.; Mintah, R.
    This study examines the tax compliance intentions of self-employed individuals in the informal sector and evaluates the effect of antecedent-based intervention strategies, trust and perceived tax complexity on tax compliance intention. Using the extended version of the Theory of Planned Behavior as the theoretical base, the study additionally investigates whether attitude, subjective norms, perceived behavioural control and moral obligation may be good predictors of tax compliance intention. Data were gathered from 725 self-employed individuals in Ghana using a structured questionnaire, and analysed using the structural equation modelling technique. We find from our empirical analysis that, although our respondents exhibit greater intention to comply with tax payment duties, most respondents consider non-compliance to be justifiable if the tax rates are too burdensome. Our results further suggest that trust in the tax system, perceived tax complexity, antecedent-based intervention strategies, attitude, subjective norms, and moral obligation relevant predictors of tax compliance intention.
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    Assurance of environmental, social and governance disclosures in a developing country: perspectives of regulators and quasi-regulators
    (Accounting Forum, 2021) Simpson, S.N.Y.; Aboagye-Otchere, F.; Ahadzie, R.
    The paper explores the assurance of environmental, social, and governance (ESG) disclosures in a developing country. Unlike other papers, this study focuses on regulators and quasi-regulators understanding of ESG assurance, their perception and preferences for assurance providers, and the considerations in choosing an assurance provider. Using qualitative research design, the Strong Structuration Theory was employed to draw meanings from data gathered through semi-structured interviews. Findings reveal that external factors such as the emerging nature of ESG in Ghana, the working fields of interviewees, the developing nature of the internal audit function, non-Big 4 audit firms, and the accounting profession were crucial to interviewees’ conceptualization of ESG assurance and their preferences for various assurance providers. Also, there is low preference for accountants, internal auditors, and non-Big 4 firms as ESG assurance providers, particularly for environmental and social disclosures. Regulators, however, received a high endorsement. It It was evident that expertise and regulatory oversight were the main factors interviewees considered in choosing assurance providers. Accountants, non-Big 4 audit firms, and internal auditors would need to improve stakeholders’ perception of their capacity and independence for ESG assurance. Moreover, considerations such as the value for expertise, independence, and reputation for regulators affect the choice of an ESG assurance provider. The findings have implications (outcomes) for regulators to consider their ESG assurance participation and its consequences.
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    Country-Level corporate governance and Foreign Portfolio Investments in Sub-Saharan Africa: The moderating role of institutional quality
    (Cogent Economics & Finance, 2022) Agyei, S.K.; Isshaq, M.Z.; Obuobi, N.K.; et al.
    Given the declining volumes of Foreign Portfolio Investments (FPI) in In Africa, the study sought to examine the moderating role institutional quality (INST) plays in the relationship between country-level corporate governance (CG) and FPI in Sub-Saharan Africa. This is motivated by arguments from the hierarchy of institutions hypothesis, which posits that the quality of political institutions (INST) determine the strength of economic institutions (CG) and how they affect economic activities. Data was collected on 33 SSA countries from 2009 to 2017 and analysed using the systems GMM approach. The results revealed that economies characterized by strict adherence to international auditing and reporting standards, ethically behaved firms, effective corporate boards, and well-regulated security markets tend to attract more FPI inflows, even though weak shareholder protection regimes are likely to deter FPI. We also confirmed the positive impact of robust institutions in luring FPI into SSA. Finally, we found the FPI-CG nexus to be significantly moderated by the quality of institutions prevalent in a country. This implies that the effectiveness of country-level corporate governance mechanisms can be affected by the existing institutions, thereby impacting the level of FPI an economy receives. We recommend that SSA firms take pragmatic steps to develop and practice sound CG mechanisms while the institutional setting in SSA is strengthened to harness more FPI inflows to support their economic growth agenda.