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|Title: ||Awareness of Financial Market Products in Ghanaian Universities: A Case Study of Christian Service University College, Garden City University and Univesrsity of Education, Winneba- Kumasi.|
|Authors: ||Kyeigyah, Albert|
|Issue Date: ||13-Jun-2011|
|Abstract: ||Many studies document substantial heterogeneity in individual financial portfolios, including the fact that many consumers hold no stocks, a feature that is known as the non-participation puzzle (Mankiw and Zeldes, 1991; Haliassos and Bertaut, 1995). Limited financial market participation has important implications for individual welfare and the explanation of the equity premium puzzle. On the welfare issue, Cocco, Gomes and Maenhout (2005) calculated the welfare loss from non-participation in stock markets can be substantial, between 1.5 and 2% of consumption in calibrated life-cycle models. On the equity premium front, Mankiw and Zeldes (1991) treat share ownership as an exogenous individual characteristic and show that differences in the consumption patterns of stockholders and non-stockholders tend to lower the level of risk aversion necessary to justify the equity premium. Attanasio, Banks and Tanner (2002) estimate ownership probabilities to separate “likely” stockholders from non-stockholders, and don’t reject the prediction of the consumption capital asset pricing model for the group of stockholders.
The thesis documents the awareness of the various investment products in the Ghanaian financial market by the staff of Christian Services University College, Garden City University College and University of Education, Winneba-Kumasi. The researcher used Logit regression model and found that there was about 68% likelihood of financial awareness among the sampled respondents in the study area, the youth and the single invest more than the aged and the married. Finally, most of the respondents prefer investing in single products than diversifying.|
|Description: ||A thesis submitted to the faculty of physical science (distance learning), department of mathematics, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfillment of the requirement for the award of
MASTER OF SCIENCE DEGREE IN
|Appears in Collections:||Distance Learning|
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