College of Humanities & Social Sciences

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    Testing the pecking order theory of banks listed on the ghana stock exchange
    (KNUST, 2021) SEY EUNICE
    The research examined the pecking order theory practice of banks listed on the Ghana Stock Exchange. The link between leverage and firm specific characteristics such as profitability, loan quality, growth, age and size of firms was ascertained. The research used quantitative approaches and employed the descriptive designs. Secondary data from the annual financial statements of banks listed on the Ghana Stock Exchange from the year 2010 to 2019 were used for the studies. As at the end of the year 2019, eight (8) banks were listed consisting of Ecobank Ghana Ltd, Societe Generale, Standard Chartered Bank, Cal bank, Agricultural Development Bank, Access Bank, Republic Bank, and Ghana Commercial Bank. The data was analyzed using version 25 of Statistical Package for Service Solution. The Augmented Dickey Fuller, Tolerance, Durbin Watson and Variance Inflation Factor tests were used as estimation techniques to ensure accuracy of data. Panel data regression method was used to establish the presence of the pecking order theory. The study found that leverage was negatively related to profitability of listed banks but was statistically insignificant. Leverage was also negatively related to loan quality but statistically insignificant. Leverage showed positive correlation to the size and the age of the firm and was statistically significant, while leverage was positively correlated to growth but insignificant. The study recommends that management of the banks listed put in the necessary measures such as ensuring quality loans and using debt as financing strategies to enhance an increase in the growth levels of firms
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    The impact of domestic savings on economic growth: an empirical investigation in Ghana
    (KNUST, 2021) ACQUAH PRISCILLA AMONOO
    There has been much jubilation and hope after independence on 6th March 1957 that Ghana will steer the African continent towards fast economic growth and development. Though Ghana experienced relatively high growth soon after its independence, it had already shown negative per capita growth in 1965. In 2011, the World Bank projected Ghana to be the fastest growing economy in Sub-Saharan Africa (SSA) as Ghana witnessed a 14% economic growth in that year. This growth can only be realized through accumulation of human and fiscal capital. Domestic savings are crucial in financing high capital formation which leads to increased productivity, sustained growth and development. Unfortunately, Ghana has not witnessed gross domestic x savings above 20% of GDP. This study examined the mechanisms through which savings affect economic growth in Ghana. The study used the neoclassical production function gross domestic savings and other macroeconomic determinants are the main exogenous variables in the second model. The Thomas Tobin’s investment function is used to link gross domestic savings and investment in Ghana. The study used the Autoregressive Distributed Lag model (ARDL) to examine the short run and long run relationships between the independent variables and the dependent variables. The Dickey-Fuller Unit Root was used to check the stationarity of the variables. The study concluded that gross domestic savings affect economic growth through gross investment only in the short run but this channel does not exist in the long run.
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    Bank specific and macroeconomic determinants of profitability of Ghanaian commercial banks: a panel data approach
    (KNUST, 2021) PHYLLIS ADWOWA ELLIS
    The financial health of all banks is determined by its ability to generate adequate profit to keep it in existence. This research brings to light the pivotal role of both internal and external factors impact on the profitability of banks in Ghana. Using 8 (eight) listed Ghanaian banks covering 2009-2018, the Ordinary Least Square regression has been performed to analyze the nexus between the bank-specific and macroeconomic factors and profitability indicators. It is worth noting that this research employs three accounting-based profitability indicators namely ROA, ROE and NIM. From the performance of the Hausman specification test, the fixed effect model is the appropriate model to be used. The findings of this research reveal that asset management, operational efficiency, number of branches and inflation are the key factors that influence the profitability of Ghanaian banks. All iv other factors exhibited an insignificant influence on the profitability of Ghanaian banks, all other things being equal. Also, from the descriptive statistics, it was observed that listed banks are highly geared and that has the tendency of reducing profits.
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    Effects of savings and loans associations on livelihood of women: a case study of nalerigu
    (KNUST, 2021) Yahaya Yakubu Yidana
    Savings and Loans Associations (slas) measure their success by the effects they have on their clients and their families, and on the communities in which they live. The effects of VSLA programs on the poor in developing economies remains an increasingly debatable issue, despite numerous studies devoted to the topic. The main objective of the study was to investigate the effects of Savings and Loans Associations on livelihood of women in Nalerigu in the East Mamprusi Municipality of North East Region of Ghana. The study adopted both quantitative and qualitative approaches to data collection and analysis technique. Qualitative primary data was collected through semi-structured questionnaire with 65 VSLA members using questionnaire. Two focus group discussions were held among members of the vslas. Stakeholders were also interviewed as key informants to understand their opinions on the activities of vslas in the society. The study established that VSLA women groups have easy access to credit facilities from the VSLA group. Majority of the respondents were able to repay their credit facilities based on the VSLA groups constitutions. The study also revealed that VSLA has helped improved the women income level, as majority of the women indicated that due to their participation in VSLA they are now engaged in businesses, agricultural and vocational activities for the improvement of their livelihoods. However, the study also revealed that technical support training on group formation and orientation, supervision and financial supports are key in sustaining the VSLA groups. It is recommended that awareness should be intensified based on the results for the VSLA groups to join the mother VSLA group for effective monitoring and supervision of the activities of vslas in the municipality
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    Effect of value for money audit on public sector accountability: evidence from northern region, Ghana
    (KNUST, 2021) AYAMBILA NORBERTA ASSIBI
    The study examines the effect of value for money auditing on public sector accountability in selected mmdas (Tamale Metropolitan Assembly, Sagnarigu Municipal, Gushegu District Assembly and Karaga District Assembly) in the Northern Region of Ghana. The study adopted a descriptive survey approach with a sample size of 83. Quantitative approached was adopted to analyse the data. The study revealed that value for money auditing induce the use of indicators that enhances accountability to users for quality of service, stimulus pressure from an informed domestic public opinion is needed for public sector reform. Cost should not be more than expected in value for money auditing in the region, cheaper inputs may risk the effectiveness and sustainability of value for money auditing. The study also revealed that respondents agreed that a program should not duplicate, overlap, or conflict other related programs, respondents agreed that it is not enough if an activity is very cheap and runs efficiently, but does not achieve results. Also respondents agreed that there should be adequate assessments of needs, clear objectives and adequate means of implementation, respondents agreed that information that is complete, accurate. The study further revealed that respondents agreed that goals and targets should be stated in writing and publicized, clearly specifying its effects, respondents agreed that poor project planning and management cause inadequate supervision and non compliance with terms and conditions of the contract in the selected mmdas in the Northern Region of Ghana. It thus recommended that to enhance economy value for money auditing and public accountability, regulation of the Public Finance Management Act regulations should be adhered to. It requires that expenditure of goods and services 3 should be controlled against spending and procurement plans approved by the responsible accounting officer. The accounting officer should not authorize payment to be made out of funds earmarked for specific activities for purposes other than those activities.