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The impact of corporate governance on the extent of sustainability reporting among state-owned enterprises
No full textThe study aims to investigate the impact of corporate governance on sustainability reporting among State-Owned Entities (SOEs). The study is cross-sectional. Data were collected through a questionnaire survey of 119 SOEs in Ghana and were analysed using logistic regression analysis. The findings indicate that the extent of sustainability reporting among SOEs in Ghana is low. The results also show that SOEs in Ghana report more sustainability dimensional information but not total sustainability reporting. Similarly, the board size, CSR committee, and audit committee size have a positive and statistically significant impact on the extent of total sustainability reporting. The study comprised a sample of SOEs in Ghana and hence the results are generalisable only to such unique hybrid organisations in the Ghanaian context. Secondly, the study was based on a questionnaire survey, which may suffer from consistency and reliability. Nonetheless, the findings imply that sustainability reporting is low among SOEs in Ghana. There is a need for change in board composition and structure in the SOEs, and pragmatic effort by the authorities to intensify policies and education in sustainability reporting. The study contributes to the extant literature on corporate governance and sustainability reporting nexus. This broadens our understanding of how corporate boards influence sustainability reporting
Theoretical and Conceptual Framework of Access to Financial Services by Farmers in Emerging Economies: Implication for Empirical Analysis
No full textThis paper presents a discussion on the theoretical and conceptual framework on issues relating to access to financial services. The discussion begins by providing details of various theories that underpin the demand and supply side of access to financial services. The supply dimension of access to financial services is guided by the information asymmetry theory and the transaction cost theory, while the key demand dimension theories are the delegated monitoring theory and the rational choice theory. In the later sections, a conceptual framework was developed for the empirical evaluation of access to financial services and its impact on productivity with particular reference to farmers in emerging economies. The last section provides the concluding remarks, which recommends the use of empirical analyses to access factors influencing access and the impact of the access to farmers’ productivity
Concentrated Share Ownership and Financial Performance of Listed Companies in Ghana
Get PDFInvestment on the Ghana Stock Exchange has attracted keen interest from within and outside the country. Foreign investors have grown substantially in developing markets over the last two decades, parallel with the increase in their impact. These investors seek to own large proportions of equities as well as acquire State Owned Enterprises, and as a result they have become influential on the performance of companies in which they invest. Previous studies show no conclusive evidence on the direction of the role of share ownership on the financial performance of firms especially in developing economies. This research attempts to examine the effect of share ownership and investors' involvement on performance of investee companies. The study was conducted using panel data regression analysis and Performance was measured by using Tobin's Q and Return on Asset (RoA). Significant statistical relationships were found in this research. The results of the research suggest that share ownership on the Ghana Stock Exchange is heavily concentrated in the hands of Ghanaians and that ownership concentration, institutional and insider ownership precipitate higher firm financial performance. There is the need to encourage concentrated ownership structure. Also, investments by insider and institutional ownerships should be promoted in order to ensure proper monitoring, reduced agency costs and improve performance. Keywords: ownership structure, concentration, financial performance, Ghana stock exchang
Effect of Price and Non-price Incentives on Production and Marketable Surplus of Food Crops Supply in Ghana
Get PDFAim: This study examined food crop farmers’ supply responsiveness to selected price and non-price variables. Study Design: Cross-sectional design Place and Duration of Study: The study was carried out in Ejura Sekyeredumasi District in the Ashanti Region of Ghana and data was collected in November 2013. Methodology: A simple random sampling technique was used to sample 250 farmers for the study. Structured questionnaire was used to solicit information from the sampled farmers on production and marketing of maize and cassava. The study used a modified Nerlovian supply model to analyse the data in order to assess farmers’ supply responsiveness to selected price and non-price variables. Results: The results of the study revealed that food crop farmers respond favourably and promptly to incentive package (price or non-price factors) and this reflected in farmers’ output and farm management practices. Conclusion: The study provides evidence to support price incentives and non-price factors on food crop supply response. It suggests that a strong complementary policy instrument involving price and non-price factors will provide a fillip to agricultural productivity
Factors Influencing Consumers’ Preference for Imported Rice in Kumasi Metropolis, Ghana
No full textThis study has examined the determinants of consumption of imported rice in the Kumasi Metropolis in the Ashanti Region of Ghana. Data was collected from households that were selected in the various sub-metros within the metropolis. In all 327 rice consumers were sampled and interviewed. Descriptive and inferential statistics involving the use of frequency, mean and standard deviation as well as the Probit regression model were used to analyse the data. The results revealed that age, gender, household size, income, education, and price were statistically significant. Education, gender and income influenced consumption of imported rice positively, while household size, age and price had a negative influence on consumption of imported rice. In conclusion, key factors which influence consumers’ preference for imported rice are education, income and household size. It is recommended that government enact law and develop policies to regulate importation of rice into the country and also improve upon the production of rice locally
Are customers satisfied with FinTech payment platforms?: A study of savings and loans companies operating in Accra metropolis
Get PDFEffect of Price and Non-price Incentives on Production and Marketable Surplus of Food Crops Supply in Ghana
No full textAim: This study examined food crop farmers’ supply responsiveness to selected price and non-price variables. Study Design: Cross-sectional design Place and Duration of Study: The study was carried out in Ejura Sekyeredumasi District in the Ashanti Region of Ghana and data was collected in November 2013. Methodology: A simple random sampling technique was used to sample 250 farmers for the study. Structured questionnaire was used to solicit information from the sampled farmers on production and marketing of maize and cassava. The study used a modified Nerlovian supply model to analyse the data in order to assess farmers’ supply responsiveness to selected price and non-price variables. Results: The results of the study revealed that food crop farmers respond favourably and promptly to incentive package (price or non-price factors) and this reflected in farmers’ output and farm management practices. Conclusion: The study provides evidence to support price incentives and non-price factors on food crop supply response. It suggests that a strong complementary policy instrument involving price and non-price factors will provide a fillip to agricultural productivity
Hunger Project Credit Facility and Maize Productivity in Ghana
Get PDFThis paper evaluated the effect of credit facility on the productivity of participants of the Hunger Project in Ghana. Primary data was collected from randomly sampled 170 beneficiary and non-beneficiary smallholder maize farmers of the project in the Kwahu West Municipality. Descriptive statistics and the endogenous switching regression model were used to analyse the data. The results showed that gender, number of livestock owned by the farmer, previous year’s maize income, farmers’ perception of lending procedures of the Project and farmers’ perception of the distance between residence and the epicenter (loan center) were the factors influencing farmers’ decision to take part in the Hunger Project credit programme. The study also revealed that farmers who benefited from the programme had a significant increase in maize output: thus, the credit facility significantly influenced farm productivity. In addition to maize farming, farmers should be encouraged to keep livestock, and the project management should open loan centres close to the farmers to improve access to loan by the farmers, particularly current non-beneficiaries, to improve their productivity. This should be supported by an extension of education and training
IS ORGANIC AGRICULTURE MORE SCALE EFFICIENT THAN CONVENTIONAL AGRICULTURE? THE CASE OF COCOA CULTIVATION IN GHANA
Get PDFResearch background: Despite the growing social recognition of the positive role played by organic farming in the conservation of natural resources and the reduction or elimination of the negative externalities of modern agriculture, the economic competitiveness of organic versus conventional agriculture is a contentious issue. Studies on scale efficiency in the agricultural economics literature, in general, did not address the differences in production practices such as organic and conventional production. Purpose of the article: We estimated scale efficiency of organic and conventional production, tested for differences between organic and conventional agriculture scale efficiency, and explored the sources of inefficiencies. Methods: This was accomplished using cross-sectional data on 658 organic and conventional cocoa farmers, for the 2012/13 production season in the Eastern Region of Ghana. The analysis accounted for selection bias and recognised the fractional property of the scale efficiency measure. Findings & Value added: Organic agriculture is less scale efficient than conventional agriculture. Whilst we recommend that both producer groups improve scale efficiency, organic producers require greater work to do to make up for the almost 50% scale inefficiency. We also found farmer-based organisations to significantly influence scale efficiency. This calls for the need to strengthen farmer-based organisations to increase participation, among other reasons. We departed from the existing scale efficiency literature in a three of ways. We accounted for selection-bias using propensity score matching in the organic and conventional samples in analysing scale efficiency, modelled scale inefficiency using fractional regression and empirically selected the appropriate link function using a battery of tests. Finally, we accounted for an important policy variable; farmer-based organisation. We employed propensity score matching that accounted from observable biases. Further research may consider other methods that account for both observed and unobserved variations
Women Participation in Microcredit and Its Impact on Income: A Study of Small-Scale Businesses in the Central Region of Ghana
No full textAim: To examine women participation in microcredit and its impact on business income. Study Design: Cross-sectional data. Place and Duration of Study: The study was carried out from March 1 to 30, 2011 in five districts from the Central Region of Ghana which is basically agrarian. Methodology: A multistage randomized sampling method was used in selecting 300 business women from the five districts: Agona West Municipality; Cape Coast Metropolis; Efutu Municipality; Mfantsiman Municipality and Upper Denkyira East District. Structured questionnaire and interview schedule were used to elicit information from the respondents. Information sought bordered on business income, the socio-economic characteristics of the respondents and other factors that influence participation in microcredit. Analysis of data was carried out using propensity score matching (PSM) approach. Results: Results revealed that number of years in formal education, satisfaction of application procedures, membership to business associations, amount of savings with financial institutions, and the satisfaction of interest charges are factors that positively influence women’s likelihood of participating in microcredit programmes. The PSM results showed that women operating small businesses with microcredit had statistically significant higher income compared with their non-microcredit participating counterpart. Conclusion: It is, therefore, concluded that formal schooling, satisfaction with lending procedures and interest as well as amount of money saved with the micro finance institution influence their participation in the micro credit programme. Also microcredit provides a means for increasing income of women in small scale businesses. Based on the PSM results women in small businesses should be encouraged to participate in microcredit as it significantly increases their income levels
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