Demand for Treasury Bills in Ghana, Looking Beyond Risk
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Date
2013-06
Authors
Odarno, V.G.
Journal Title
Journal ISSN
Volume Title
Publisher
University of Ghana
Abstract
Investment is a very important activity in the life of every income earner. It basically entails
setting aside part of one’s income into an investment vehicle to yield returns in a form of
reserving and or increasing the value of the initial amount invested. Treasury bills are one of the
avenues for investing by income earners since it yields guaranteed returns over various time
periods/durations. This study investigates whether there are behavioral factors influencing the
demand for treasury bills in Ghana. A convenient sampling method was adopted in the collection
of data from workers in Greater-Accra region. A logistic regression analysis was conducted to
determine the behavioral factors that drive investment in treasury bills in Ghana.
The study found that there are behavioral factors influencing the demand for treasury bills in
Ghana. Education, sociability, number of years of work experience, occupation and saving
motives were found to be the main behavioral factors that influence the demand for treasury bills
in Ghana. However, financial literacy and age were found to be insignificant in influencing the
demand for treasury bills. The study has implication for investment organizations that need to
need to know the behavioral attributes of Ghanaian workers towards investing in order to
strategize in selling their investment products.
Description
Thesis (MPHIL)-University of Ghana, 2013