Research Articles

Permanent URI for this collectionhttps://atuspace.atu.edu.gh/handle/123456789/36

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Social enterprise as a model for change: Mapping a global cross disciplinary framework.
(Entrepreneurship Education, 2022) Halsall, J.; Snowden, M.; Clegg, P.; Mswaka, W.; Alderson, M.; Hyams-Ssekasi, D.; Winful, E. C.
Since the outbreak of COVID-19, social enterprise has experienced a renaissance. In public policy circles, entrepreneurship and innovation are perceived as economic development tools, and in many parts of the world, as catalysts for change that can have a real impact by increasing employment in communities as well as environmental challenges. At a local level, entrepreneurship and innovation enable communities to stay vibrant due to social enterprise organisations ofering much-needed goods and services. Social enterprise has been acknowledged as a solution to social inequality and environmental issues in society as it develops new areas of empowerment in local communities. Central to the success of social enterprise is education, training, and the engagement of the higher education sector. Traditionally, entrepreneurship and innovation have fundamentally been entrenched within the business subject area, but have now emerged within other disciplines such as criminology, health and social care, geography, sociology, and politics. The aim of this paper is to map out a new, global, cross-disciplinary framework from a teaching and learning perspective. The authors of this paper call for global empowerment of entrepreneurship education in the higher education sector, using examples from diferent countries across the world, specifcally Ghana, India, and the UK. This paper sets out the vital importance of entrepreneurship in teaching and learning, by showcasing what can be achieved. In this paper, the authors develop and propose a new pedagogical social enterprise model that incorporates and emphasises the ethos of ‘think globally, act locally’ in a sustainability context.
Graduate employability in Ghana: embedding social enterprise skills within the higher education framework.
(Emerald Open Research, 2022) Winful, E. C.; Snowden, M.; Halsall, J. P.; Quaye, J. N. A.; Hyams-Ssekasi, D.; Opuni, F. F.; Opoku-Asante, K.
Levels of unemployment and environmental challenges make social entrepreneurship and social enterprise very important for the sustainability of society. Higher education has played a fundamental role in driving entrepreneurship and innovation in local, national, regional, and global contexts. The authors of this article explore the state of the legislative framework in Ghana, as well as social enterprise education, stakeholder engagement, models and challenges. The methodology applied for this paper is concept mapping, enabling the critical exploration of the relevance of social enterprise in the context of higher education, and demonstrating how it could practically serve as a panacea to rising youth unemployment. This research concludes by making a case for including social enterprise in the higher education curriculum.
Bank efficiency and stock returns.
(Journal of Economics and International Finance, 2017) Sarpong, D. Jnr.; Winful, E. C.; Ntiamoah, J.
Increased competition and globalization have made it imperative for banks to achieve high efficiency in order to generate required returns. This paper investigates the relationship between bank efficiency estimates, derived from both Stochastic Frontier Approach (SFA) and Data Envelopment Analysis (DEA) and share prices of banks listed on the Ghana stock exchange. The results give an indication that changes in cost and profit efficiency are reflected in stock performance and that efficiency is directly observed by the public and reflected in share prices, though SFA efficiency scores are not reflected in share prices as being equally important as compared to DEA efficiency scores.
Training accountants for the dynamisms of modern business.
(2016) Sarpong, D. Jnr.; Winful, E. C.; Ntiamoah, J. A.
The recent increase in corporate fraud, business failures and more importantly the global financial crisis of 2008, raise more thought about the preparedness of accountants in meeting the challenges posed by the information technology age. This may be an indication that the traditional approaches to educating and training future accountants are insufficient or the necessary professional ethics and standards to be observed by practicing accountants are not strictly adhered to. This conceptual review examines the accountancy profession and identifies the requisite skills and training needed to be attained by today’s accountant. The dynamism of the business landscape, which is caused by the ever changing forces and trends that confront today’s businesses, has necessitated a review of the traditional approaches to educating and grooming future accountants. It has been identified in this paper that a modification of the relevant skills and training needed to be attained by the professional accountant is imperative in meeting the demands of the modern business.
Evaluating the credit risk management practices of microfinance institutions in Ghana: Evidence from Capital Line Investment Ltd. and Dream Finance Ltd
(Society for Science and Education, 2016) Appiah-Konadu, P.; Churchill, R. Q.; Agbodohu, W.; Frimpong, H. K.
Several factors are constraining the continuous growth of the microfinance sector in Ghana among which are high risk of defaulting loans and how to ensure effective management of credit risk so as to simultaneously maximize returns on assets and minimize defaulting loans. Using a survey approach and convenience non–probability sampling technique, we applied the Risk Management Feed-back Loop concept proposed by GTZ (2000) to evaluate the credit risk management policies employed by microfinance firms in their quest to manage credit risks in order to minimize defaulting loans. The results of the descriptive analysis indicate that credit risk is the most significant risk that poses a great threat to the overall survival of microfinance firms. The study also revealed that ineffective client information verification system increases the rate of bad loads in microfinance companies. Based on our findings, we recommend that in order to ensure improvement in the performance of microfinance institutions, measures that seek to reduce credit risks should be strengthened. More so, in order to reduce the level of bad debts in the loan portfolios of microfinance firms, we recommend that the system for verifying client information before loan disbursements should be strengthened. Specifically, a detailed scrutiny of the client should be made before making loan disbursements.
Macroeconomic variables and stock market performance of emerging countries
(Taylor and Francis, 2016) Winful, E. C.; Sarpong, D. Jnr.; Adjei, K. S.
This study examines the relationship between macroeconomic variables and stock market returns using monthly data over period January 1992 to December, 2008. Macroeconomic variables used in this study are consumer price index (as a proxy for inflation), crude oil price, exchange rate and 91 day Treasury bill rate (as a proxy for interest rate). Full Information Maximum Likelihood Estimation procedure was used in establishing the relationship between macroeconomic variables and stock market returns in Ghana. The empirical results reveal that there is a significant relationship between stock market returns and three macroeconomic variables; consumer price index (inflation rate), exchange rate and Treasury bill rate seem to affect stock market returns. Consumer price index (Inflation rate) had a positive significant effect, while exchange rate and Treasury bill rate had negative significant influence on stock market returns. On the other hand, crude oil prices do not appear to have any significant effect on stock returns. The results may provide some insight to corporate managers, investors and policy makers.
Bank efficiency and default risk: The case of Ghana.
(AJ, 2017) Sarpong, D. Jnr.; Winful, E. C.
There seem to be inconclusive results regarding the interactions between bank efficiency, default risk and bank capital. This study tries to assess the dynamic interactions between efficiency estimates, default risk and bank capital in the Ghanaian banking industry, using bank specific panel data for 20 Ghanaian banks from 2007 to 2015. We employ panel vector autoregressive models (VAR) models which are estimated using generalized method of moments (GMM) to examine the interactions. The results give an indication that bank default risk has negative and statistically significant impact on cost efficiency but exerts only a mild influence on profit efficiency. However, there exist weaker evidence on the impact of both efficiencies on bank default risk. Bank capital on the other hand has significant positive impact on cost and profit efficiencies but both efficiencies have insignificant impact on bank default risk.
Determinants of efficiency in the Ghanaian banking industry.
(AJ, 2017) Winful, E. C.; Sarpong, D. Jnr.
The twin forces of technological advancement and deregulation have led to financial integration and increased competition in the Ghanaian banking industry. This situation requires an extensive study into efficiency and its determinants in the Ghanaian banking sector, if Ghanaian banks are to survive and compete effectively in the global financial system. This study tries to determine the main determinants of efficiency in the Ghanaian banking industry, using bank specific balanced panel data for 22 banks in Ghana from 2010 to 2016. The study employed Arellano and Bover system generalized method of moment (GMM) estimator to evaluate the determinants of efficiency by regressing micro and macroeconomic variables on two dimensions of bank efficiency: cost and profit efficiency. The results gave an indication that operational cost, credit risk and bank size are the main determinant of cost efficiency in the Ghanaian banking industry; whereas profit efficiency is significantly influenced by only operational cost and credit risk. However, there is weaker evidence on the impact of capital structure, concentration inflation and real gross domestic product (GDP) growth on both cost and profit efficiencies. K
The role of employee training and development in achieving organizational objectives: A study of Accra Technical University
(Society for Science and Education, 2018) Hammond, H.; Churchill, R. Q.
Training and development is the field which is concerned with organizational activity aimed at bettering the performance of Individuals and groups in organizational setting and to achieve the set objectives of the organization. It is a combined role often called human resources development meaning the development of “Human” resources to remain competitive in the marketplace in achieving objectives. Training focuses on doing activities today to develop employees for their current jobs and development is preparing employees for future roles and responsibilities. It carries out an analysis that the objective of training and development is to creative learning organizations which ensure that employees through value addition can effectively perform their jobs, gains competitive advantage and seek self-growth: this measurable performance resulting from good training and development, shall enhance organization development. It is a process transferring information and knowledge to employers. It is equipping employers to translate that information and knowledge into practice with a view to enhancing organization effectiveness and productivity, and the quality of a management of people. It should be considered along with education policies and systems which are crucial to the development of human resources.
Foreign Exchange Exposure: An investigation of the determinants in the UK Multinationals
(2019) Zubairu, I.; Iddrisu, A. J.
The purpose of this study is to investigate the determinants of differential exchange exposure across listed UK Multinational Corporations (MNCs) from 1993-2013, so as to identify their relationships regarding their foreign operations as listed on the FTSE 350 Index. The study used quantitative analysis to reach its conclusions. This involves a time series regression analysis which was used to compute the foreign exchange exposure co-efficient. The conclusions from this analysis are summarized. Data was collected from accounting footnotes of financial statements from FAME and the DataStream on Compustat Geographical system database; while annual data updated annually about trade weights within the region was obtained from the International Monetary Fund’s Directory of Trade statistics yearbook. The results suggest that 20% of the sampled MNCs have statistically significant exposure at the 5% level significance, and the regression estimates of the determinants of exchange rate exposure suggests that, the level of a firm’s foreign sales, market value of its equity, and quick ratio, have strong combined explanatory power for exposure. The cross-sectional differences in the degree of exchange rate exposure are negatively related to firm size and positively related to the degree of foreign operation. Firm liquidity is shown to be a determinant of exchange exposure. Other firm characteristic variables have weak or are of no significance in terms of explaining exposure. The results from this empirical study build upon prior studies on foreign exchange exposure and offer the MNCs an alternative approach to minimize their inputs when operating in a developed market.
Original paper taxation of digital business transactions: Challenges and prospects for developing economies
(Journal of Economics and Public Finance, 2020) Ntiamoah, J. A.; Asare, J.
The Global economy has seen a rapid growth in digital business transactions, especially in the provision and sale of goods and services through the application of information and communications technology. This rapid growth can be attributed to the fast rate of technological advancement which has changed how business transactions are conducted globally. The complexity associated with the taxation of digital business transaction has created the need to take a critical look at the challenges and prospects of digital business transactions in developing economies. The absence of physically commercial environment to a digital business environment generates thoughtful and significant issues in relation to taxation and taxation systems. This study relied on the second-best Tax Theory to establish that developing economies face the daunting task of taxing digital business transactions effectively due to the distortive nature of taxes on welfare losses. Whereas government and revenue collection authorities can impose tax on individuals, institutions and or products, they cannot tax digital business transactions efficiently and effectively and unless there are robust and effective tax systems in place. Even though these constraints appear more pronounced in developing economies, the implementation of effective tax could lead to an enhanced internal tax revenue for development.
Evaluation of operational risk management of commercial banks in Ghana.
(2019) Arhenful, P.; Yeboah, A. K.; Tackie, B. A.
Operational risk has adverse effect on financial performance and business sustainability of commercial banks. This concern has provoked the need to assess the effective means of dealing with bank operational risk. The study sought to empirically evaluate operational risk management of commercial Banks in Ghana. Using descriptive analysis to examine data sourced from 32 commercial in Ghana, the study found minimal comprehension of operational risk prerequisites, lack of systematic risk identification procedures and minimal risk assessment. The study also found that development of active methods of risk monitoring and control were not pronounced among the commercial banks in Ghana. It is therefore, recommended that the commercial banks should inculcate the culture of risk awareness, proper risk identification mechanisms and widespread risk monitoring and control approaches as these have far-reaching implications for effective implementation of any operational risk management efforts of commercial banks.
Do economic variables still influence tax compliance intentions of self-employed persons in developing economies? Evidence from Ghana.
(AJ, 2019) Ntiamoah, J. A.; Sarpong, D. Jnr.; Winful, E. C.
The purpose of this study was to establish whether tax compliance intentions of tax-registered selfemployed persons are still influenced by economic variables instead of non-economic variables which are now at the centre stage in tax compliance research. A quantitative research design based on a survey of 453 self-employed persons randomly selected from 15 Small Taxpayers’ Offices across the Greater Accra region was used. Data was analysed using the Statistical Package for Social Sciences (SPSS) version 24 software complemented with a correlation analysis and validated using multiple regression and one-way analysis of variance. Results indicate that if the Ghana Revenue Authority (GRA) conducts frequent audits on business records and activities, and imposes lower tax rates on self-employed persons, a moderate but positive effect on tax compliance could be achieved. The results also indicate that higher fines could have a moderate negative effect on tax compliance decisions. Lastly, the level of income of self-employed persons was found to have weak but positive effects on their tax compliance intentions. The overarching results from this study indicate that economic variables do have positive but moderate effects on tax compliance intentions of self-employed persons in developing economies. It was recommend that the tax administration authority should not place too much emphasis on higher fines and imposition of higher income tax rates to encourage voluntary compliance, but instead, should place more emphasis on auditing of records and returns, and engage and provide holistic support to enable self-employed persons to grow and expand their businesses.
Financial sector readiness to support economic actives under COVID-19: The case of African continent
(AJ, 2020) Winful, E. C.; Sarpong, D. Jnr.; Irenee, D.
Organizational readiness for change is considered a critical precursor to the successful implementation of complex changes. Indeed, some suggest that failure to establish sufficient readiness accounts for one-half of all unsuccessful, large-scale organizational change efforts. The African economy and the world at large are at brink of economic depression as result of devastating effect of COVID-19. However, it is equally important to determine the readiness of countries to absorb the economic shock of the pandemic. Using the model by Battese and Coelli (1995), the translog production frontier was adopted to estimate technical efficiency of the financial sector of the continent. The 24 countries selected in Africa were based on the availability of data to cover our variables of interest for period 2000 to 2018. The findings were that financial sector in the continent have performed above average (72%) over the period of study and hence they are slightly ready to support ailing economy. Also lower middle income countries are relatively going to have more problems with pandemic. However, the probability of the continent not plunging into economic depression with the support of the financial sector is 0.42 which is not encouraging. It is recommended that policies to address interest rate margin, liquidity and market concentration should be managed properly to improve technical efficiency of the financial sectors on the continent.
Determinants of customer deposit decisions in Ghana: The case of bank customers in Madina municipality
(AJOL, 2021) Arhrnful, P., Davor, M. W.;
Using the Autoregressive Distributed Lag (ARDL) framework, this paper examines the relevant factors influencing allocation of bank credit to the private sector in the Ghanaian economy for the period 1970 to 2011. The results show that broad money supply, bank assets, real lending rate, and bank deposits are significant determinants of bank credit in both the short and long-run. Inflation also exerts significant positive impact only in the short-run. The study infers the lack of successive governments’ commitment to pursue policies that boost the supply of credit to the private sector. Our findings further reveal that increases in deposits mobilization by banks does not necessarily translate into supply of credit to the private sector. A plausible deduction from the findings is that reduced government’s domestic borrowing, lower cost of borrowing, and lower central bank reserve requirements for commercial banks in Ghana are needed to stimulate higher lending and credit demand.
Effect of interest rate on stock prices in Ghana.
(Journal of Social and Development Science, 2021) Arhenful, P.; Yeboah, A. K.; Adjei, K. S.
The paper assesses the effect of interest rate on stock prices, with emphases on Ghana Stock Exchange; using monthly time series data from July 2007 to December 2019. The Augmented Dickey-Fuller (ADF) test was employed to establish the stationarity properties of the data or otherwise. Using the Ordinary Least Squares (OLS) estimation technique of Multiple Regression, the results (? = – 0.891, p < 0.05) revealed an indirect association between interest rates and stock prices in the Ghanaian context; which is consistent with the theoretical conclusion that an increase in interest rate results in a decrease in stock prices. Thus, in the light of this finding, it was recommended that policymakers should consider the stock market dynamics due to the significant relationship that exists between the two macroeconomic variables.
Valorization of plastic waste in Ghana: The circular approach
(IGI Global, 2021) Hervie, D. M.; Winful, E. C.; Tsagli, S. K.
Wastes from plastics are ubiquitous and have become a critical global challenge, especially in Africa. There is an urgent call to combat the menace because of its harmful impact on the ecosystem. The research methodology used is the exploratory technique. Circular economy (CE) is the answer to this global problem, especially in advanced countries. Even though some African countries have commenced recycling waste plastics, which is a contribution to circular economy, the idea is now gaining support in Ghana. The aim of this study is to propose a strategy and design a customized business model canvas for an establishment that transforms different types of waste plastics into pavement slabs and paving tiles in Ghana. The rationale is to accentuate the significance of introducing CE as a tool for effective and efficient plastic waste management in the country.
Investigating The Impact Of Capital Adequacy Ratio And Corruption On Bank Risk-Taking In Ghana
(Allied Business Academies, 2021) Bunyaminu, A.; Bashiru, S.; Amadu, I. M.; Yakubu, I. N.; Iddrisu, A. J.
This paper examines the impact of capital adequacy and corruption on bank risk-taking behaviour in Ghana over the period 2008-2017. Using the system generalized method of moments (GMM) technique; we establish that increasing bank capital has a significant positive effect on banks’ risk-taking. This finding supports the “regulatory hypothesis”. In addition, the results show that corruption induces bank risk-taking, thus favoring the “sand the wheels” view in the corruption-development nexus. Based on the findings, we discuss relevant policy implications for regulators and bank managers.

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