Department of Organisation and Human Resource Management

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Internationalization & Economic Growth Strategies in Ghana: A Business Perspective, edited by Kuada, J. In: Business Corporate Social Responsibility. - London
(Adonis & Abbey, pp. 190-212, 2007) Ofori, D.F
Corporate Social Responsibility, Myth, Reality or Empty Rhetoric: Perspectives from the Ghana Stock Exchange.
(The African Finance Journal, 2007) Ofori, D.
This article reports the findings of an empirical study documenting the extent of recognition, nature, content and perception of corporate social responsibility (CSR) by firms quoted on the Ghana Stock Exchange (GSE). The study derives its justification from the explosion in attention to CSR worldwide in recent times. Although several studies have examined firm CSR actions in African contexts, none have studied CSR amongst quoted companies. The study's key findings were that a majority of the companies on the GSE subscribe more to the contemporary notion of CSR; their perceptions are strategic, moral, and ethical, as well as economic.
Social Responsibility and Ethics in Ghana: Stakeholders Expectations and Challenges,’ in Okpara J. (editor), Management and Economic Development in Sub-Saharan Africa: Theoretical and Applied Perspectives
(Adonis & Abbey, 2007) Ofori, D.
Research on corporate social responsibility (CSR) has blossomed over the millennia. The pre-millennium and new millennia have witnessed a burgeoning of CSR research by several scholars. Other researchers have also contributed to various dimensions of the CSR debate which have been based on two contrasting positions; businesses as the trustees of societal property that should be managed for the public good have been seen as one end of a continuum, while at the other end is the belief that profit maximization is management's only legitimate goal. However, the view that total responsibilities are broader than simple economic responsibilities has become more compelling, more accepted by managers and more widely practiced.
Gender-based Discrimination in the Workplace: A Ghanaian Perspective
(Acta Commercii (7): 14-28, 2007) Ofori, D.F
Purpose and objectives: The ‘glass escalator’ phenomenon holds that men in female dominated proficiency … can rise quickly to the top. However, they can do also suffer discrimination. This phenomenon is widely recognised in advanced countries. Trained, mostly female nurses have been leaving Ghana in droves for greener pastures abroad, particularly the US and U.K., with serious consequences on the health delivery service in Ghana. Conversely, increasing numbers of males are joining the nursing profession. It examines whether male nurses in Ghana enjoy any hidden advantages, and if so, what makes the men successful (even with their limited numbers) in a women dominated field and what the implications are for both male and female nurse.
Management in Action with a Twist of Theory, edited Okpara, J. In: Managing Projects in Organisations: The Answer to Achieving the Development Agenda.
(edited by Okpara, J. - Accra : Sedco, pp. 114-130., 2007) Ofori, D.F
Market Orientation and Export Performance: A Ghanaian Study in Kuada, J. (editor), Internationalization and Economic Growth Strategies in Ghana: A Business Perspective
(Adonis & Abbey, 2007) Hinson, R.; Ofori, D.; Kastner, A.; Mohammed, M.
The paper investigates antecedents and environmental moderator effects on market orientation and export performance of Ghanaian firms. The results of our survey of 142 exporters show that market orientation relates positively to export performance for both subjective and objective measures used. Environmental moderators do not have any effect on market orientation and export performance for the firms under study. Antecedents to market orientation presented mixed whilst others were not. On the strength of the findings from this study, we posit that market-oriented firms compete more effectively and efficiently than their competitors.
The Internet and Lawyers in Ghana: Some Initial Qualitative Perspectives
(Library Review 56(4): 311-322, 2007) Hinson, R.; Ofori, D.; Atuguba, R.; Fobih, J.
Purpose – To contribute to the Internet use literature with particular respect to lawyers. This current study seeks to investigate qualitatively, the impact of the internet on the work of lawyers in Ghana. Design/methodology/approach – Following several other empirical studies in the general information systems arena, a qualitative design was adopted for this study. A second motivation for adoption of this design was the fact that this research was exploratory in nature and it was the opinion of the researchers that this case study will provide rich insights into the formulations of research propositions for a larger study on internet use and legal practice in Ghana. Interviews were conducted with lawyers who had been called to the bar for before 2003 (we needed to be sure that these lawyers had been practicing for at least two years). Lawyers employed in law chambers, private sector institutions, international organizations, law consultancies, public sector institutions and the Faculty of Law of the University of Ghana were contacted as potential respondents for this qualitative study. The first five lawyers in each category who accepted to do the interviews were used as respondents for the study. In all 25 lawyers were interviewed and their views on internet use in respect of the legal profession in Ghana formed the basis of the empirical discussions in this paper. Findings – Seventy-eight per cent of the lawyers interviewed agree that the internet improves their productivity. Eighty-eight per cent of respondents indicated that the internet is useful as a communication tool, whilst 76 per cent of the respondents considered the internet to be very important for getting information. In respect of generating business contacts, it seems the internet (online technologies) is just as important as brick – and – mortar strategies for attracting and retaining clients. Research limitations/implications – Study has proved invaluable in hypothesis formulation for a larger study on internet use amongst Ghanaian lawyers in 2006. Ultimately, it could give indications for the conduct of e-business adoption studies amongst lawyers in Ghana. Originality/value – One of the few studies that focuses on internet adoption by lawyers in a developing country context.
Business’ Corporate Social Responsibility: Theory, Opinion and Evidence from Ghana,’ in Kuada, J. (editor), Internationalisation and Economic Growth Strategies in Ghana: A Business Perspective
(Adonis & Abbey, 2007) Ofori, D.
This article reports the findings of a study which sought to document the extent of recognition, nature and content of socially responsible actions by firms located in Ghana. The justification for the study is derived from the increasing concern expressed by policy makers about corporate social responsibility CSR and the pressure exerted on firms to demonstrate high ethical standards locally and abroad in order to be competitive. The study compared CSR perceptions of companies listed in the Ghana Club 100 database, which is an annual ranking of the top performing locally and internationally connected firms in Ghana. The key findings of the study were that, internationally connected firms subscribe more to the contemporary notion of CSR; are more strategic, more moral and ethical in their approach to CSR than the local companies.
Corporate Social Responsibility (CSR) Perspectives of Leading Firms In Ghana, Corporate Governance
(The International Journal of Business in Society 7(2): 178 – 193, 2007) Hinson, R.; Ofori, D.
Purpose – Corporate social responsibility (CSR) research has blossomed in this new millennium. This has been due to: the increasing concern expressed by policy makers about corporate social; responsibility; the pressure exerted on firms to demonstrate high ethical standards; and for developing countries, the increasing demands on their firms exporting to Europe and other western countries to document adherence to high ethical standards in order to be competitive. This study sought to ascertain and document the extent of recognition, nature and content of socially responsible actions by firms located in Ghana. Design/methodology/approach – The study used a sample of companies listed in the Ghana Club 100 database, an annual ranking of the most prestigious firms in Ghana. The study adopted an in-depth, exploratory and comparative approach in examining the CSR issues from the perspectives of local versus internationally-connected firms in Ghana. Findings – The key findings of the study were that, although local companies are familiar with the concept and do, indeed, practice some amount of CSR, they subscribe less to the contemporary notion of CSR; they are less strategic, less moral and ethical in their approach to CSR. Thus, internationally-connected Ghanaian firms seem to have a better grasp of the various dimensions of CSR and how these could be used to business and strategic advantage. Research limitations/implications – Future research indications might be the fashioning of a CSR typology for Ghanaian firms and an investigation of the relationship between CSR and financial performance. Originality/value – Reports findings in the first nation-wide study carried out in the area of CSR and will interest academics and practitioners working in and on the areas.
Market Orientation and Export Performance: A Ghanaian Study
(African Journal of Economic and Business Research 3(2&3): 62-90, 2007) Hinson, R.; Ofori, D.; Kastner, A.; Mohammed, M.
The paper investigates antecedents and environmental moderator effects on market orientation and export performance of Ghanaian firms. The results of our survey of 142 exporters show that market orientation relates positively to export performance for both subjective and objective measures used. Environmental moderators do not have any effect on market orientation and export performance for the firms under study. Antecedents to market orientation presented mixed whilst others were not. On the strength of the findings from this study, we posit that market-oriented firms compete more effectively and efficiently than their competitors.
Management and Economic Development in Sub-Saharan Africa: Theoretical and Applied Perspectives, edited by Okpara, J. In: Social Responsibility and Ethics in Ghana. – London
(Adonis & Abbey., pp. 63-97., 2007) Ofori, D.F
Explaining Interest Rate Spreads in Ghana
(2008) Aboagye, A.Q.Q.; Akoena, S.K.; Antwi-Asare, T.O.; Gockel, F.A.
The question of the optimal spread between bank lending rates and rates that banks pay on deposits, which is fair to bankers, depositors and borrowers, has dogged economies for some time. In Ghana, there is widespread perception that the spread is too wide. Bankers, on the other hand justify the spread on the basis of economic variables that affect them. This paper contributes to the literature by identifying, in the case of Ghana, the short-run response of the net interest margin of banks to changes in bank-specific, industry-specific and macroeconomic variables within the broad framework of Ho and Saunders (1981). We find that increases in the following factors significantly increase net interest margin — bank market power (or concentration), bank size, staff costs, administrative costs, extent of bank risk aversion and the rate of inflation. On the other hand, increases in the following variables decrease net interest margin significantly — bank excess cash reserves, the central bank lending rate, management efficiency and the passage of time. To help reduce interest rate margins, we recommend that banks should not get too big, the central bank should consider lowering the capital adequacy ratio and banks should be required to pass on to borrowers the full extent of reductions or increases in the central bank lending rate. Continued efforts at keeping inflation at bay will also help.
Cost Analysis and Efficiency of sub-District Health Facilities in Two Districts in Ghana
(2008) Aboagye, A.Q.Q.; Degboe, A.N.K.
To establish the full costs borne by sub-district health facilities in providing services, we analysed the costs and revenues of 10 sub-district health facilities located in two districts in Ghana. The full costs were obtained by considering staff costs, cost of utilities, cost of using health facility equipment, cost of non-drug consumables, equipment maintenance expenses, amounts spent on training, community information sessions and other outreach activities as well as all other costs incurred in running the facilities. We found that (i) a large proportion of sub-district health facility costs is made up of staff salaries; (ii) at all facilities, internally generated funds (IGFs) are substantially lower than costs incurred in running the facilities; (iii) average IGF is several times higher in one district than the other; (iv) wide variations exist in efficiency indicators and (v) there is some evidence that sub-district health facilities may not necessarily be financially more efficient than hospitals in using financial resources. We suggest that the study should be replicated in other districts; but in the mean time, the health authorities should take note of the conclusions and recommendations of this study. Efforts should also be made to improve record keeping at these facilities
Viability Analysis of an Enterprise I.
(2008) Andoh, C.
Risk Exposure and Financial Policy: An Empirical Analysis of Emerging Markets
(2009) Abor, J.; Sarpong-Kumankoma, E.; Fiawoyife, E.; Osei, K.A.
Purpose – This paper aims to evaluate the effect of risk on the financial policy of emerging market firms. Design/methodology/approach – Using data from 34 emerging markets during a 17‐year period, 1990‐2006, a panel data model is employed for the analysis. Findings – The results of this study indicate that firms with high probability of survival are likely to employ more debt. The level of risk exposure, particularly business risk is important in influencing the financial decisions of firms in emerging market economies. It is argued that since the use of debt increases firms' exposure to financial risk, firms with high business risk would shy away from using more debt. Also, finance providers in the financial market may not be interested in lending to firms with high business risk. This study also identified profitability, dividend, asset tangibility, growth opportunities, and GDP per capita as important determinants of the financial policy of emerging market firms. Originality/value – This study contributes to the extant literature by providing empirical evidence regarding the effect of risk on the financial policy of emerging market firms.
Work environment
(2009) Sanda, M. A.
Financial Policy and Corporate Performance: Evidence from Emerging Market Economies
(2009) Bokpin, G.A.; Abor, J.
Macroeconomic Development and Capital Structure Decisions of Firms: Evidence from Emerging Market Economie
(Emerald Group Publishing Limited, 2009) Bokpin, G. A.
Purpose – The purpose of this study is to examine the effect of macroeconomic factors on capital structure decisions of emerging firms. Design/methodology/approach – A panel data covering a period from 1990 to 2006 for 34 emerging market countries were analyzed using the seemingly unrelated regression approach to mitigate the effects of multicollinearity and to test for the stability of parameter estimates across the countries. Findings – The results largely suggest that the effect of macroeconomic factors on capital structure varies with capital structure measurement variable in most cases. Bank credit is significant in predicting capital structure choices of firms. The findings of the research also indicate a significantly negative relationship between gross domestic product (GDP) per capita and capital structure choices. Inflation on the other hand positively influences the choice of short‐term debt over equity. Stock market development is however insignificant in predicting capital structure decisions of firms and expectations of increasing interest rate positively influences firms to substitute long‐term debt for short‐term debt over equity. Most of the control variables namely asset tangibility, return on equity, return on assets and Tobin's Q were significant predictors of corporate financing. The results of the study generally supports existing literature on the impact of investment opportunity set, profitability, and stock market development, inflation, interest rate GDP per capita and bank credit on the capital structure decisions of firms. Originality/value – The main value of this paper is to analyze the effect of macroeconomic factors on the capital structure decisions of firms using large dataset from emerging countries.
Stochastic Variance Models in Discrete Time with Feedforward Neural Networks. Neural Computations 21
(2009) Andoh, C.
The study overcomes the estimation difficulty in stochastic variance models for discrete financial time series with feedforward neural networks. The volatility function is estimated semiparametrically. The model is used to estimate market risk, taking into account not only the time series of interest but extra information on the market. As an application, some stock prices series are studied and compared with the nonlinear ARX-ARCHX model.
Ownership Structure, Corporate Governance and Capital Structure Decisions of Firms: Empirical Evidence from Ghana
(2009) Bokpin, G. A.; Arko, C. A.,
Purpose – The purpose of this paper is to examine the effect of ownership structure and corporate governance on capital structure decisions of firms on the Ghana Stock Exchange (GSE). Design/methodology/approach – To analyze the impact of ownership structure and corporate governance on firms' financing decisions, unbalanced panel data covering a period from 2002 to 2007 is employed using the seemingly unrelated regression approach to mitigate the effects of multicollinearity among the regressors. Findings – The regression results reveal that managerial shareholding significantly positively influences the choice of long‐term debt over equity. Among the corporate governance variables, board size is found to be positively and statistically significantly related to capital structure choices. Firm level factors such as volatility in earnings, asset tangibility, dividend payout ratio and profitability are significant determinants of corporate capital structure decisions on the GSE. The findings are largely consistent with theories of capital structure decisions observed in the literature. Originality/value – The main value of this paper is to provide a comprehensive understanding of the impact of forms of ownership and other governance practices on capital structure decisions of firms from an emerging market perspective.