KNUSTSpace

Institutional Repository of the Kwame Nkrumah University of Science and Technology

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Performance Implications Of Capital Budgeting Practices Of Private Waste Management Firms In Ghana. A Case Study Of Financial Zoomlion Ghana Limited
(2020) Mavis Amofah
study examined This the financial performance implications of capital budgeting practices of private waste management firms in Ghana with emphasis on Zoomlion Ghana limited. Specifically, the study sought to: find out if development projects correspond with profitability, check whether the project is subject to rigorous defined procedures and finally, to recognize the appropriate capital budgeting techniques and activities that could enhance the monetary progress of the waste management sector. The population for the study was 44 consisting of all the Regional Offices and head office of Zoomlion Ghana Ltd with particular reference to staff at the Finance and Account units. The study assumed a philosophy of positivism to assess the relationship of capital budgeting processes and monetary growth and employed survey design. The purposive sampling technique was used to select a sample size of 12. The main instrument used for the study was a questionnaire. Results reveal that through capital budgeting, profits have gone up by 21% - 40%. This shows a positive correlation between capital budgeting and profitability. Thus capital budgeting practices plays critical roles in ensuring the profitability of the company. The company does not use just one valuation method but rather adopts multiple valuation methods in its capital budgeting decisions. The finance department was responsible for all capital projects as there was no dedicated capital budgeting department. It is recommended that management institute a dedicated capital budgeting department, engage the services of professionals and equip the department with modern technology and other tools in order to succeed.
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The effect of liquidity risk management on companies performance; evidence from general insurance companies in ghana
(knust, 2020) Amponsah Abena Sheila
The main aim of this study relates to investigating the effect of liquidity risk management on financial outcomes of general insurance companies in Ghana. Drawing on historical data for 15 enterprises from 2009 to 2018 from the NIC database, the study pursues fixed effect approach to panel data analysis, and produces striking outcomes. The study found that liquidity risk (premium growth ratio and leverage risk) management consequentially poses major effect in determining ROA and ROE of insurance corporations in Ghana. The study also found liquidity risk (leverage risk and premium growth) management had a positive significant effect on insurers’ return on investment. The mixed findings for the consequences of various proxies for liquidity risk on financial outcomes of insurers come with a number of implications. The positive impact of liquidity risk management on ROA, ROE and investment yield implies the need for firms not to think of reinsurance in isolation, but consider it in association with investments. The study concludes that managing liquidity risk is beneficial to the financial performance of insurance companies in Ghana. The study recommends policymakers and regulators must initiate, design and model regulations such that they help tame risk to improve the performance of insurers in Ghana given that the present state of required capital.
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Effect of audit quality on the financial performance of selected banks in Ghana
(knust, 2020) Bampo Agyiewaa Gloria
This study examines the effect of audit quality on the financial performance of selected banks in Ghana. This study specifically sought to examine; the quality of audit, the financial performance, and confirm the relationship that exists between audit quality and the financial performance of these selected banks. The study adopts a quantitative research design and the purposive sampling method is used to select the banks. The study also uses secondary data of the annual financial reports of the five sampled listed banks from 2014 to 2018 used to achieve the objectives. Data was coded and scrutinized by the use of descriptive statistics using Excel 2019. STATA version 14 is used to analyze the descriptive and inferential statistics including correlation tests and regression. The result shows that audit fees have a negligible positive relationship with financial performance. However, there is a moderate inverse relationship between Audit fees and financial performance, and whiles audit experience has moderate inverse effect, with Audit independence has weak positive effect with financial performance. Based on the regression, Audit experience was found to have any significant effect on financial performance, audit fees, audit size and audit independence had no significant effect on financial performance. Based on the outcomes and findings of the study, it can be concluded that generally, audit experience affects financial performance, and the study recommends that therefore there is the need for institutions especially in the banking sector to pay closer attention to audit experience and put in measures to engage auditing firms that have more experience.
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Accessibility of finance options and the level of satisfaction: a study of some selected business in the sunyani municipality
(knust, 2020) Adjei Patience
The role played by entrepreneurs in the economic development of countries cannot be overemphasized. Finance is an important component needed by an entrepreneur in setting up, and or maintaining a business. The objective of the study was to examine the finance options available to the Ghanaian entrepreneur, and evaluate the satisfaction the entrepreneur derives from the various options and come up with the best option by comparing the significant levels. The study was quantitative, and used a sample of 50 entrepreneurs from the population of entrepreneurs in Sunyani Municipality. Random sampling was used to select respondents. SPSS was used in coding, entry and analysis of the data, using descriptive statistics and ANOVA. The study revealed that, the finance options or sources of finance mostly used by entrepreneurs are personal credit union, banks, micro finance, and Moneylenders. The study showed that, the entrepreneurs were satisfied with the various finance options with regards to service rendered and impact on business performance and it was also revealed that firm’s age have effect of finance option available to entrepreneurs. It was recommended that financial institutions create products that will motivate savings among entrepreneurs as well as the entrepreneurs should try to save by using it as a finance option. When this is done, the entrepreneurs will have to assess interest-free funds for their businesses.
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Audit tenure, auditor specialization and audit report lag: the case of companies listed on ghana stock exchange
(knust, 2020) Domogoun Donee Francis
The study was conducted to explore the impact of auditor industry specialization (AIS) on the relationship between audit firm engagement tenure and audit report lag (ARL). The study is motivated by the public demand for timely release of financial information and the ongoing debate on mandatory auditor rotation. To achieve the broad objective, the determination of the following specific objectives are critical; to establish the relationship between audit firm engagement tenure and audit report lag and the impact of AIS on the association between audit firm engagement period and ARL in Ghana. The study adopted the regression model used by Dao and Pham (2014) and Habid and Bhuiyan (2011) using secondary data from selected enterprises listed on Ghana’s Stock Exchange. Following the analysis and interpretation of the research data, the study discovered among others that, a substantial positive correlation exists between short-term audit tenure and audit delay implying that short term audit tenure increases audit delay. It was also found that, the correlation between audit delay and return on assets was insignificant and that a substantial negative correlation existed between audit delay and leverage. The study also discovered a substantial positive link between audit delay and firm size and that both regression models were not significant. The study established that AIS at city, national and city-national levels does not moderate the relationship between audit firm tenure and audit report lag. The study recommended to companies to rotate their auditors every 6 years to improve the independence of auditors, reduce ARL and also comply with the requirement of the company’s Act 2019 (Act 992). The studies further recommended that companies should engage the services of auditors’ base on fees charged and quality of audit work. The study provided detailed information for selecting an auditor in Ghana.
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Stochastic Optimal Selection and Analysis of Allowable Photovoltaic Penetration Level for Grid-Connected Systems Using a Hybrid NSGAII-MOPSO and Monte Carlo Method
(Hindawi, 2023-03-27) Reindorf, Nartey Borkor; Abubakar, Ali; Amoako-Yirenkyi, Peter; 0000-0002-5721-4638
Generally, the main focus of the grid-linked photovoltaic systems is to scale up the photovoltaic penetration level to ensure full electricity consumption coverage. However, due to the stochasticity and nondispatchable nature of its generation, significant adverse impacts such as power overloading, voltage, harmonics, current, and frequency instabilities on the utility grid arise. These impacts vary in severity as a function of the degree of penetration level of the photovoltaic system. Thus, the design problem involves optimizing the two conflicting objectives in the presence of uncertainty without violating the grid’s operational limitations. Nevertheless, existing studies avoid the technical impact and scalarize the conflicting stochastic objectives into a single stochastic objective to lessen the degree of complexity of the problem. This study proposes a stochastic multiobjective methodology to decide on the optimum allowable photovoltaic penetration level for an electricity grid system at an optimum cost without violating the system’s operational constraints. Five cutting-edge multiobjective optimization algorithms were implemented and compared using hypervolume metric, execution time, and nonparametric statistical analysis to obtain a quality solution. The results indicated that a Hybrid NSGAII-MOPSO had better convergence, diversity, and execution time capacity to handle the complex problem. The analysis of the obtained optimal solution shows that a practical design methodology could accurately decide the maximum allowable photovoltaic penetration level to match up the energy demand of any grid-linked system at a minimum cost without collapsing the grid’s operational limitations even under fluctuating weather conditions. Comparatively, the stochastic approach enables the development of a more sustainable and affordable grid-connected system.
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A stable scheme of the Curvilinear Shallow Water Equations with no-penetration and far-field boundary conditions
(Elsevier, 2023-11-23) Reindorf, Nartey Borkor; Svärd, Magnus; Amoako-Yirenkyi, Peter; 0000-0002-5721-4638
This paper presents a stable and highly accurate numerical tool for computing river flows in urban areas, which is a first step towards a numerical tool for flood predictions. We start with the (linearized) well-posedness analysis by Ghader and Nordström (2014), where far-field boundary conditions were proposed and extend their analysis to include wall boundaries. Specifically, we employed high-order Summation-by-parts (SBP) finite-difference operators to construct a scheme for the Shallow Water Equations. We also developed a stable SBP scheme with Simultaneous Approximation Terms that impose far-field and wall boundaries. Finally, we extended the schemes and their stability proofs to non-Cartesian domains. To demonstrate the strength of the schemes, we performed computations for problems with exact solutions to obtain second, third, and fourth (2, 3, 4) convergence rates. Finally, we applied the 4𝑡ℎ-order scheme to steady river channels, the canal (or floodcontrol channel simulations), and dam-break problems. The results show that the imposition of the boundary conditions is stable, and the far-field boundaries cause no visible reflections at the boundaries.