Search results for: Ghana stock exchange

Authors: Y. Kong, I. Masud, M. H. Nyaso

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This paper seeks to examine consumers’ intention to adopt and use mobile payment method in Ghana. A conceptual framework was adopted from the extant literature using the Technology Acceptance Model (TAM) and the Theory of Reasoned Action (TRA) as the theoretical bases. Data for the study was obtained from a sample of 425 respondents through online and direct surveys using structured questionnaire. Structural Equation Modeling was used to analyse the data through SPSS v.22 and SmartPLS v.3. Findings with regards to the determinants of mobile payment system adoption indicate that subjective norm, perceived ease of use, attitude, and perceived usefulness play active roles in consumers’ decision to adopt mobile payment system in Ghana. Also, perceived usefulness and perceived ease of use have a significant and positive influence on consumers’ attitude towards mobile payment adoption in Ghana. Further, subjective norm was found to influence perceived usefulness and perceived ease of use of mobile payment adoption in Ghana. The study contributes to literature on mobile payment system from developing country context. The study proffered some recommendations.

Keywords: consumer behaviour, mobile payment, subjective norm, theory of planned behavior

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Authors: Antwi Kwaku Dei, Lyford Conrad Power

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This paper investigates the outcome of participating in the government of Ghana block farm program on rural households’ farm productivity, income, food security and nutritional status in Northern Ghana using cross-sectional data. Data analysis was done using the Instrumental Variable and the Heckman Selection Bias procedures. Our analysis indicates that participation in the block farm program significantly increased directly the productivity of maize, rice, and soybean by 21.3 percent, 15.8 percent, and 12.3 percent respectively. Also, the program participation was found to increase households’ farm income by 20 percent in northern Ghana. Furthermore, program participation was found to improve household food security and nutrition by 19 percent and 14 percent respectively through income effect. Based on the benefit-cost ratio of 1.59 the results from the study recommends that the program is expanded to other communities in the northern region. Further analysis indicates that rural households’ decision to participate in food security intervention programs is significantly influenced by factors including the gender of the household head, the age of the household head, and household size. Results of the study further show that gender of household head, household size, household monthly income, household assets, women educational status, the age of women, marital status of women, are significant determinants of food security and nutrition status in Northern Ghana.

Keywords: block farm program, farm productivity, , household food security, Northern Ghana

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Authors: Seung Yeon Son

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In today’s rapidly changing and increasingly complex environment, organizations have relied on their members’ positive attitude toward their employers. In particular, employees’ organizational commitment (primarily, the effective component) has been recognized as an essential component of organizational functioning and success. Hence, identifying the determinants of effective commitment is one of the most important research issues. This study tested the influence of leader-member exchange (LMX) and exchange ideology on employee’s effective commitment. In addition, the interactive effect of LMX and exchange ideology was examined. Data from 198 members of the Korean military supports each of the hypotheses. Lastly, implications for research and directions for future research are discussed.

Keywords: affective commitment, exchange ideology, leader-member exchange, commitment

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Authors: Edwina Owusu Panin, Derrick Antwi

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Autism and cerebral palsy are fraternal twins in the world of communication and social interaction challenges. Caring for autistic and cerebral palsied female teenagers in Ghana can be difficult and stressful for parents. We highlight the findings of dealing with stress, where female teenagers are more daunting than male teenagers, related to the demand for a lot of attention linked to the puberty transition. This brief examines the challenges that parents face in caring for teenagers with autism and cerebral palsy in Ghana and the stress that can develop from parental care. The article also highlights the importance of identifying and addressing mental health and self-care issues in parents of disabled female teenagers, as these issues can significantly affect the well-being of both parents and their children. Parents of teenagers with disabilities often face a variety of challenges, including managing their children's care and medical needs, navigating the educational system, and addressing social and emotional needs. These challenges can be even more disheartening in Ghana, where resources and support for families of children with disabilities are limited. In a nutshell, the challenges of caring for female teenagers with autism and cerebral palsy can be significant in Ghana. The article outlines methods that parents in Ghana can take to manage their stress and provide a brighter future for their female teenagers. Parents are better able to cope with the challenges of parenting and provide the best care possible for their female teenagers with disabilities.

Keywords: autism, cerebral palsy, female teenagers, parental care

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Authors: Belhouchet Selma, Ben Amar Anis

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We examine the impact of COVID-19 transmission, containment measures, and vaccination growth on daily stock market returns for the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) from January 22, 2020, to August 31, 2021, more than a year and a half after COVID-19. For this objective, we use panel pooled ordinary least squares regressions. Our findings indicate that the spread of the pandemic has a negative impact on the daily performance of the world's seven main stock markets. Government measures to improve stock market returns are no longer successful. Furthermore, our findings demonstrate that immunization efforts in G7 nations do not increase stock market performance in these countries. A variety of robustness tests back up our conclusions. Our findings have far-reaching implications for investors, governments, and regulators not only in the G7 countries but also in all developed countries and all countries globally.

Keywords: COVID-19, G7 stock market, containment measures, vaccination

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Authors: Sungzoon Cho, Hye Jin Lee, Sungwhan Jeon, Dongyoung Min, Sungwon Lyu

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Major public corporations worldwide use conference calls to report their quarterly earnings. These 'earnings' conference calls allow for questions from stock analysts. We investigated if it is possible to identify sentiment from the call script and use it to predict stock price movement. We analyzed call scripts from six companies, two each from Korea, China and Indonesia during six years 2011Q1 – 2017Q2. Random forest with Frequency-based sentiment scores using Loughran MacDonald Dictionary did better than control model with only financial indicators. When the stock prices went up 20 days from earnings release, our model predicted correctly 77% of time. When the model predicted 'up,' actual stock prices went up 65% of time. This preliminary result encourages us to investigate advanced sentiment scoring methodologies such as topic modeling, auto-encoder, and word2vec variants.

Keywords: earnings call script, random forest, sentiment analysis, stock price prediction

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Authors: Victor Birikorang Danquah

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Ghana's primary energy supply is heavily reliant on petroleum, biomass, and hydropower. Currently, Ghana gets its energy from hydropower (Akosombo and Bui), thermal power plants powered by crude oil, natural gas, and diesel, solar power, and imports from La Cote d'Ivoire. Until the early 2000s, large hydroelectric dams dominated Ghana's electricity generation. Due to unreliable weather patterns, Ghana increased its reliance on thermal power. However, thermal power contributes the highest percentage in terms of electricity generation in Ghana and is predominantly supplied by Independent Power Producers (IPPs). Ghana's electricity industry operates the corporate utility model as its business model. This model is typically' vertically integrated,' with a single corporation selling the majority of power generated by its generation assets to its retail business, which then sells the electricity to retail market consumers. The corporate utility model has a straightforward value proposition that is based on increasing the number of energy units sold. The unit volume business model drives the entire energy value chain to increase throughput, locking system users into unsustainable practices. This report uses the qualitative research approach to explore the electricity industry in Ghana. There is a need for increasing renewable energy, such as wind and solar, in electricity generation. The research recommends two critical business models for the penetration of renewable energy in Ghana's power sector. The first model is the peer-to-peer electricity trading model, which relies on a software platform to connect consumers and generators in order for them to trade energy directly with one another. The second model is about encouraging local energy generation, incentivizing optimal time-of-use behaviour, and allowing any financial gains to be shared among the community members.

Keywords: business model innovation, electricity generation, renewable energy, solar energy, sustainability, wind energy

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Authors: Walid Chkili

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This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Daniel Y. Fiaveh, Chimaraoke O. Izugbara

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Based on the narratives of 20 women and 16 men, the paper explores how knowing more about the factors that trigger sex positions decisions advance knowledge of male and female sexuality, and how these translate into higher levels of female sexual negotiations in Ghana. Findings demonstrated that the willingness to perform sex positions or not were gendered and derive, at least in part, from differences in demographic profiles (such as age, gender, and marriage), beliefs associated with sexual practices (such as anal sex), the desire to maximize sexual pleasure, and sexual myths and misconceptions e.g. fear of infecundity. The women were not passive to sex positions decisions and engaged in a dialogical sexual encounter with men including threats of sexual refusal in negotiating sex.

Keywords: sexual positions, sexual pleasure, masculinity, femininity, Ghana

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Authors: Quang Dong Dang

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This paper examines the possible effects of stock market developments by channels on income and wealth inequality. We use the Bayesian Multilevel Model with the explanatory variables of the market’s channels, such as accessibility, efficiency, and market health in six selected countries: the US, UK, Japan, Vietnam, Thailand, and Malaysia. We found that generally, the improvements in the stock market alleviate income inequality. However, stock market expansions in higher-income countries are likely to trigger income inequality. We also found that while enhancing the quality of channels of the stock market has counter-effects on wealth equality distributions, open accessibilities help reduce wealth inequality distributions within the scope of the study. In addition, the inverted U-shaped hypothesis seems not to be valid in six selected countries between the period from 2006 to 2020.

Keywords: Bayesian multilevel model, income inequality, inverted u-shaped hypothesis, stock market development, wealth inequality

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Authors: Tarah Bouaricha

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The impact of worst natural disasters is analysed in terms of insured losses which happened between 2010 and 2014 on S&P insurance index. Event study analysis is used to test whether natural disasters impact insurance index stock market price. There is no negative impact on insurance stock market price around the disasters event. To analyse the reaction of insurance stock market, normal returns (NR), abnormal returns (AR), cumulative abnormal returns (CAR), cumulative average abnormal returns (CAAR) and a parametric test on AR and on CAR are used.

Keywords: study event, natural disasters, insurance, reinsurance, stock market

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Authors: Irfan Ullah Munir, Shen Yue, Muhammad Shahzad Ijaz, Saad Hussain, Syeda Yumna Zaidi

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Financial literacy is fundamental to every decision-making process and has received attention from researchers, regulatory bodies and policy makers in the recent past. This study is an attempt to evaluate financial literacy in an emerging economy, particularly Pakistan, and its influence on people's stock market participation. Data of this study was collected through a structured questionnaire from a sample of 300 respondents. EFA is used to check the convergent and discriminant validity. Data is analyzed using Hayes (2013) approach. A set of demographic control variables that have passed the mean difference test is used. We demonstrate that participants with financial literacy tend to invest more in the stock market. We also find that association among financial literacy and participation in stock market gets moderated by gender.

Keywords: Financial literacy, Stock market participation, Gender, PSX

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Authors: İlhami Karahanoglu, Oguz Ceylan

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As its well-known definitions; systemic risk refers to whole economic system down-turn movement even collapse together in very severe cases. In fact, it points out the contagion effects of the defaults. Such a risk is can be depicted with the famous Chinese game of falling domino stones. During and after the Bear & Sterns and Lehman Brothers cases, it was well understood that there is a very strong effect of systemic risk in financial services sector. In this study, we concentrate on the existence of systemic risk in Turkish Banking Sector based upon the Halkbank Case during the end month of 2013; there was a political turmoil in Turkey in which the close relatives of the upper politicians were involved in illegal trading activities. In that operation, the CEO of Halkbank was also arrested and in investigation, Halkbank was considered as part of such illegal actions. That operation had an impact on Halkbanks stock value. The Halkbank stock value during that time interval decreased remarkably, the distributional profile of stock return changed and became more volatile as well as more skewed. In this study, the daily returns of 5 leading banks in Turkish banking sector were used to obtain 48 return distributions (for each month, 90-days-back stock value returns are used) of 5 banks for the period 12/2011-12/2013 (pre operation period) and 12/2013-12/2015 (post operation period). When those distributions are compared with timely manner, interestingly; the distribution of the 5 other leading banks in Turkey, public or private, had also distribution profiles which was different from the past 2011-2013 period just like Halkbank. Those 5 big banks, whose stock values are monitored with sub index in Istanbul stock exchange (BIST) as BN10, had more skewed distribution just following the Halkbank stock return movement during the post operation period, with lover mean value and as well higher volatility. In addition, the correlation between the stock value return distributions of the leading banks after Halkbank case, where the returns are more skewed to the left, increased (which is measured in monthly base before and after the operation). The dependence between those banks was stronger under the case where the stock values were falling compared with the normal market condition. Such distributional effect of stock returns between the leading banks in Turkey, which is valid for down sub-market (financial/banking sector) condition, can be evaluated as an evidence for the existence of contagious effect and systemic risk.

Keywords: financial risk, systemic risk, banking sector, return distribution, dependency structure

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Authors: Joshua Osondu

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This research explores how Artificial Intelligence (AI) can be utilized as a policy response to address teaching and learning (TL) issues in education in Ghana. The dual (AI and human) instructor model is used as a theoretical framework to examine how AI can be employed to improve teaching and learning processes and to equip learners with the necessary skills in the emerging AI society. A qualitative research design was employed to assess the impact of AI on various TL issues, such as teacher workloads, a lack of qualified educators, low academic performance, unequal access to education and educational resources, a lack of participation in learning, and poor access and participation based on gender, place of origin, and disability. The study concludes that AI can be an effective policy response to TL issues in Ghana, as it has the potential to increase students’ participation in learning, increase access to quality education, reduce teacher workloads, and provide more personalized instruction. The findings of this study are significant for filling in the gaps in AI research in Ghana and other developing countries and for motivating the government and educational institutions to implement AI in TL, as this would ensure quality, access, and participation in education and help Ghana industrialize.

Keywords: artificial intelligence, teacher, learner, students, policy response

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Authors: Fahreza, Yudhi Herliansyah, Harnovinsah

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This study aims to examine how management compensation and auditor reputation effect on corporate tax management in banking using a sample banking companies listed in Indonesia Stock Exchange. At first, this study examines how the influence of management compensation on the implementation of tax management that may be made by management in order to improve the performance of the company. Second, this study also examines the effect of auditor reputation conducting audit on the implementation of the tax management. The population used in this study is the banking companies listed in Indonesia Stock Exchange. The method used was purposive sampling because the samples of this study have certain criteria that are tailored to the purpose of the study. Based on purposive sampling method, the number of samples in this study is 28 samples. Hypothesis tested using multiple regression analysis. The results of this study indicate that on the 5 % significance level, management compensation significantly influenced tax management as measured using the proxy book tax gap. Other result is management compensation does not significantly affect the tax management that measured using a proxy GAAP effective tax rate. In addition the auditor's reputation does significantly influence tax management as measured using the proxy book tax gap and GAAP effective tax rate.

Keywords: tax management, management compensation, auditor reputation, corporate characteristic

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Authors: Kennedy Gbenu, Richmond Kweku Frempong

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Rebranding has become a very important strategic tool for companies wanting to succeed in the ever competitive business world using the principles of rebranding Moisescu. Two businesses in Ghana (Ghana Commercial Bank and Vodafone Ghana) have been used to ascertain how rebranding of these organizations was done using the principles in their effort to rebrand themselves and to stay relevant. A secondary research mainly on literature surrounding rebranding, official websites of the organizations under study have also been used extensively. After a basic comparative study undertaken two firms (GCB and VODAFONE) seems to be using the first three principles and reaping from it as provided by Moisescu. This goes to show that rebranding should not be done in vacuum but should be guided by such principles so as to achieve the full potential of any kind of investments made.

Keywords: brands, corporate branding, innovation, case studies

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Authors: Philemon Rakoto

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This paper tests the improvement of financial reporting quality when firms award stock options to their executives. The originality of this study is that we introduce the moderating effect of business ethics in the model. The sample is made up of 116 Canadian high-technology firms with available data for the fiscal year ending in 2012. We define the quality of financial reporting as the value relevance of accounting information as developed by Ohlson. Our results show that executive stock option award alone does not improve the quality of financial reporting. Rather, the quality improves when a firm awards stock options to its executives and investors perceive that the level of business ethics in that firm is high.

Keywords: business ethics, Canada, high-tech firms, stock options, value relevance

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Authors: Maya Safira Dewi

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Indonesia is one in the top ten countries most funds flowing into Tax Haven. Illegal funds flowing out of Indonesia reached USD 10.9 billion per year. While the total to 2010 of the Indonesian financial assets are in tax havens from Indonesia amounted to USD 331 billion (Kar and Freitas, 2012). Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are the highest countries that became the location of companies affiliated with the company listed in Indonesia Stock Exchange. The 469 companies listed on the stock exchange there are 128 companies (27.29%) with overseas entities, listed total overseas affiliated companies amounted to 417 firms in 2012 and 415 companies in 2011. The most of the branches or the parent company are located in Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island. Judging from the existing tax provisions in these countries, have corporate tax rates that is lower than Indonesia. Tax avoidance to tax haven countries can be made by using some Strategies. They are transfer pricing, shopping treaty, thin capitalization and the controlled foreign company. Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are tax haven countries which become a tax heaven for Indonesian tax payer. It can be concluded that tax havens are a serious problem for Indonesia, and the need for a more assertive policy establishment and more detail about tax havens.

Keywords: tax avoidance, tax haven, transfer pricing, tax rate, tax payer

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Authors: Yvonne Nanaama Brew, Bismark Jampim Abrokwah

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Children with disabilities in Ghana are not routinely registered, and this can imply that they may be neglected in national policy planning since global estimates may not be near the exact numbers. Although there are some studies with reports on the prevalence of disability among children in Ghana, reliable information on the prevalence, types of disability in children, and children who die with disabilities in the Greater Accra region are lacking. The current study seeks to investigate the incidence of disability among children two to fourteen years at selected districts in the Greater Accra region of Ghana. A cross-sectional design is adapted with a quantitative method for this study. Parents with disabled children who access child welfare clinics at the Greater Accra regional hospital, Maamobi hospital, Ga west, and Ga south district hospitals will be selected through purposive sampling for the study. An adapted UNICEF structured Ten Questions will be used to collect relevant data about participants. The responses to the questions will be either 'Yes' or 'No'. Parents with children who answer 'Yes' to a disability and purposively sampled parents with children who answer 'No' to disability will be invited to Child Health Clinic at the Greater Accra regional hospital for a free clinical assessment. Data will be entered into Microsoft Office Excel 2013 and imported into STATA version 15 for analysis. The study is expected to provide reliable disaggregated data on less than fourteen years of children with disabilities in the Greater Accra region. The findings and recommendations of the study will demonstrate the importance of early detection of disability and facilitate more quality and holistic planning of appropriate programmes that best safeguard the rights of children with disabilities in Ghana. It will help in policy and decision-making on children less than fourteen years with disabilities in Ghana. Also, findings will be useful for health facilities in Ghana to plan services for disabled children. Finally, the study is expected to add to the guides for the National Council of Persons with Disabilities to fulfill its legal mandate for disabled persons in Ghana.

Keywords: prevalence, disability, children, Ghana

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Authors: Pratap Chandra Pati, Prabina Rajib, Parama Barai

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The traditional finance theory neglects the role of sentiment factor in asset pricing. However, the behavioral approach to asset-pricing based on noise trader model and limit to arbitrage includes investor sentiment as a priced risk factor in the assist pricing model. Investor sentiment affects stock more that are vulnerable to speculation, hard to value and risky to arbitrage. It includes small stocks, high volatility stocks, growth stocks, distressed stocks, young stocks and non-dividend-paying stocks. Since the introduction of Chicago Board Options Exchange (CBOE) volatility index (VIX) in 1993, it is used as a measure of future volatility in the stock market and also as a measure of investor sentiment. CBOE VIX index, in particular, is often referred to as the ‘investors’ fear gauge’ by public media and prior literature. The upward spikes in the volatility index are associated with bouts of market turmoil and uncertainty. High levels of the volatility index indicate fear, anxiety and pessimistic expectations of investors about the stock market. On the contrary, low levels of the volatility index reflect confident and optimistic attitude of investors. Based on the above discussions, we investigate whether market-wide fear levels measured volatility index is priced factor in the standard asset pricing model for the Indian stock market. First, we investigate the performance and validity of Fama and French three-factor model and Carhart four-factor model in the Indian stock market. Second, we explore whether India volatility index as a proxy for fearful market-based sentiment indicators affect the cross section of stock returns after controlling for well-established risk factors such as market excess return, size, book-to-market, and momentum. Asset pricing tests are performed using monthly data on CNX 500 index constituent stocks listed on the National stock exchange of India Limited (NSE) over the sample period that extends from January 2008 to March 2017. To examine whether India volatility index, as an indicator of fear sentiment, is a priced risk factor, changes in India VIX is included as an explanatory variable in the Fama-French three-factor model as well as Carhart four-factor model. For the empirical testing, we use three different sets of test portfolios used as the dependent variable in the in asset pricing regressions. The first portfolio set is the 4x4 sorts on the size and B/M ratio. The second portfolio set is the 4x4 sort on the size and sensitivity beta of change in IVIX. The third portfolio set is the 2x3x2 independent triple-sorting on size, B/M and sensitivity beta of change in IVIX. We find evidence that size, value and momentum factors continue to exist in Indian stock market. However, VIX index does not constitute a priced risk factor in the cross-section of returns. The inseparability of volatility and jump risk in the VIX is a possible explanation of the current findings in the study.

Keywords: India VIX, Fama-French model, Carhart four-factor model, asset pricing

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Authors: Karima Menad, Ahmed Feddag

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In this study, large crystals of the zeolite NaA were synthesized by hydrothermal way. By following this zeolite was used to recover two heavy metals that are allowing the most dangerous toxic, lead and cadmium. The synthesized zeolite was analyzed by XRD and SEM aims to verify its purity and its good morphology; after it was undergoing ion exchange operations by aqueous solution with lead and cadmium in two salts Pb(CH3COOH)2 and CdCl2 at different concentrations. The exchange was carried out under the effect of two temperatures (25 °C and 60 °C). The contents of Pb++, Cd++ and Na+ were analyzed by atomic absorption and the results are given in the form of exchange rates. At the end the samples are analyzed by XRD exchanged to confirm their conservation of their zeolite framework. It is found that the exchange rate increases with the increase of initial concentration and the best results are found for the temperature of 60 °C.

Keywords: exchange rate, ion exchange, LTA zeolite, zeolite NaA

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Authors: Shraddha Jain Sharma, Ratnalata Gupta

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Predicting stock movements in the financial market is both difficult and rewarding. Analysts and academics are increasingly using advanced approaches such as machine learning techniques to anticipate stock price patterns, thanks to the expanding capacity of computing and the recent advent of graphics processing units and tensor processing units. Stock market prediction is a type of time series prediction that is incredibly difficult to do since stock prices are influenced by a variety of financial, socioeconomic, and political factors. Furthermore, even minor mistakes in stock market price forecasts can result in significant losses for companies that employ the findings of stock market price prediction for financial analysis and investment. Soft computing techniques are increasingly being employed for stock market prediction due to their better accuracy than traditional statistical methodologies. The proposed research looks at the need for soft computing techniques in stock market prediction, the numerous soft computing approaches that are important to the field, past work in the area with their prominent features, and the significant problems or issue domain that the area involves. For constructing a predictive model, the major focus is on neural networks and fuzzy logic. The stock market is extremely unpredictable, and it is unquestionably tough to correctly predict based on certain characteristics. This study provides a complete overview of the numerous strategies investigated for high accuracy prediction, with a focus on the most important characteristics.

Keywords: stock market prediction, artificial intelligence, artificial neural networks, fuzzy logic, accuracy, deep learning, machine learning, stock price, trading volume

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Authors: Mohammad Namazi, Mohammad Sadeghzadeh Maharluie

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Predicting earnings management is vital for the capital market participants, financial analysts and managers. The aim of this research is attempting to respond to this query: Is there a significant difference between the regression model and neural networks’ models in predicting earnings management, and which one leads to a superior prediction of it? In approaching this question, a Linear Regression (LR) model was compared with two neural networks including Multi-Layer Perceptron (MLP), and Generalized Regression Neural Network (GRNN). The population of this study includes 94 listed companies in Tehran Stock Exchange (TSE) market from 2003 to 2011. After the results of all models were acquired, ANOVA was exerted to test the hypotheses. In general, the summary of statistical results showed that the precision of GRNN did not exhibit a significant difference in comparison with MLP. In addition, the mean square error of the MLP and GRNN showed a significant difference with the multi variable LR model. These findings support the notion of nonlinear behavior of the earnings management. Therefore, it is more appropriate for capital market participants to analyze earnings management based upon neural networks techniques, and not to adopt linear regression models.

Keywords: earnings management, generalized linear regression, neural networks multi-layer perceptron, Tehran stock exchange

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Authors: Thomas Yeboah

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In contemporary times, the incessant movement of northern children especially girls to southern Ghana at the detriment of their education is worrisome. Due to the misplaced mindset of the migrants concerning southern Ghana, majority of them move without an idea of where to stay and what to do exposing them to hash conditions of living. Majority find menial work in cocoa farms, illegal mining and head porterage business. This study was conducted in the Kumasi Metropolis to ascertain the major causes of child migration from the northern part of Ghana to the south and their living conditions. Both qualitative and quantitative tools of data collection and analysis were employed. The purposive sampling technique was used to select 90 migrants below 18 years. Specifically, interviews, focus group discussions and questionnaires were used to elicit responses from the units of analysis. The study revealed that the major cause of child migration from northern Ghana to the south is poverty. It was evident that respondents were vulnerable to the new environment in which they lived. They are exposed to harsh environmental conditions; sexual, verbal and physical assault; and harassment from arm robbers. The paper recommends that policy decisions should be able to create an enabling environment for the labour force in the north to ameliorate the compelling effects poverty has on child migration. Efforts should also be made to create a proper psychological climate in the minds of the children regarding their destination areas through sensitization and education.

Keywords: child migration, vulnerability, social exclusion, child labour, Ghana

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Authors: John Narh

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There is high rate of deforestation in Ghana due to agricultural expansion, illegal mining and illegal logging. While it is attempting to address the illegalities, Ghana has also initiated a reforestation program known as the Modified Taungya System (MTS). Within the MTS framework, farmers are allocated degraded forestland and provided with tree seedlings to practice agroforestry until the trees form canopy. Yet, the political, ecological and economic models that inform the selection of tree species, the motivations of participating farmers as well as the factors that accounts for differential access to the land and performance of farmers engaged in the program lie underexplored. Using a sequential explanatory mixed methods approach in five forest-fringe communities in the Eastern Region of Ghana, the study reveals that economic factors and Ghana’s commitment to international conventions on the environment underpin the selection of tree species for the MTS program. Social network and access to remittances play critical roles in having access to, and enhances poor farmers’ chances in the program respectively. Farmers are more motivated by the access to degraded forestland to cultivate food crops than having a share in the trees that they plant. As such, in communities where participating farmers are not informed about their benefit in the tree that they plant, the program is largely unsuccessful.

Keywords: translocality, deforestation, forest management, social network

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Authors: Anita Setianingrum, Oki S. Jaya, Zuherman Rustam

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Forecasting stock price is a challenging task due to the complex time series of the data. The complexity arises from many variables that affect the stock market. Many time series models have been proposed before, but those previous models still have some problems: 1) put the subjectivity of choosing the technical indicators, and 2) rely upon some assumptions about the variables, so it is limited to be applied to all datasets. Therefore, this paper studied a novel Adaptive Neuro-Fuzzy Inference System (ANFIS) time series model based on Support Vector Regression (SVR) for forecasting the stock market. In order to evaluate the performance of proposed models, stock market transaction data of TAIEX and HIS from January to December 2015 is collected as experimental datasets. As a result, the method has outperformed its counterparts in terms of accuracy.

Keywords: ANFIS, fuzzy time series, stock forecasting, SVR

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Authors: Arnold Missiame

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In Ghana, rural dwellers who depend primarily on agriculture for their livelihood constitute about 60% of the country’s population. This shows the critical role and potentials of the agricultural sector in helping to achieve Ghana’s vision 2030. With the current threat of climate change and advancements in technology, agricultural extension is not just about technology transfer and improvements in productivity, but it is also about improving the managerial and technical skills of farmers. In Ghana, the government of Ghana as well as other players in the sector like; non-governmental organizations, NGOs, local and international funding agencies, for decades now, have made capacity-building-investments in smallholder farmers by way of extension services delivery. This study sought to compare the technical efficiency of farmers who have access to agricultural extension and farmers who do not in Ghana. The study employed the stochastic meta-frontier model to analyze household survey data comprising 300 smallholder cassava farmers from the Fanteakwa district of Ghana. The farmers were selected through a two-stage sampling technique where 5 communities were purposively selected in the first stage and then 60 smallholder cassava farmers were randomly selected from each of the 5 communities. Semi-structured questionnaires were used to collect data on farmers’ socioeconomic and farm-level characteristics. The results showed that farmers who have access to agricultural extensions services have higher technical efficiencies (TE) and produce much closer to their meta-production frontiers (higher technology gap ratios (TGR) than farmers who do not have access to such extension services. Furthermore, experience in cassava cultivation and formal education significantly improves the technical efficiencies of farmers. The study recommends that the mode and scope of agricultural extension service delivery in the country should be enhanced to ensure that smallholder farmers have easy access to extension agents.

Keywords: agricultural extension, Ghana, smallholder farmers, stochastic meta-frontier model, technical efficiency

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Authors: Joseph Paul Chunga

Abstract:

The investment universe is awash with a myriad of financial choices that investors have to opt for, which principally culminates into a duality between aggressive or conservative approaches. Howbeit, it is pertinent to emphasize that the investment vehicles with an aggressive approach tend to take on more risk than the latter group in an effort to generate higher future returns for their respective investors. This study examines the conditionality effect that such partiality in financing has on the High-Tech and Public Utility companies listed on the Shenzhen Stock Exchange (SSE). Specifically, it examines the significance of the relationship between capitalization ratios of Total Debt Ratio (TDR), Degree of Financial Leverage (DFL) and profitability ratios of Earnings per Share (EPS) and Returns on Equity (ROE) on the Financial Risk of the two industries. We employ a modified version of the Panel Regression Model used by Rahman (2017) to estimate the relationship. The study finds that there is a significant positive relationship between the capitalization ratios on the financial risk of Public Utility companies more than High-Tech companies and a substantial negative relationship between the profitability ratios and the financial risk of the former than the latter companies. This then spells an important insight for prospective investors with regards to the volatility of earnings of such companies.

Keywords: financial leverage, debt financing, conservative firms, aggressive firms

Procedia PDF Downloads 141

Authors: Joseph Ampratwum, Yaw Nyadu Offei, Afua Ntoaduro, Frank Twum

Abstract:

The use of computer assistive technology has captured the attention of individuals with visual impairment. Children with visual impairments who are tactual learners have one unique need which is quite different from all other disability groups. They depend on the use of computer assistive technology for reading, writing, receiving information and sending information as well. The objective of the study was to assess students’ competencies in the use of computer assistive technology at Akropong School for the Blind in Ghana. This became necessary because little research has been conducted to document the competencies and challenges in the use of computer among students with visual impairments in Africa. A case study design with a mixed research strategy was adopted for the study. A purposive sampling technique was used to sample 35 students from Akropong School for the Blind in the eastern region of Ghana. The researcher gathered both quantitative and qualitative data to measure students’ competencies in keyboarding skills and Job Access with Speech (JAWS), as well as the other challenges. The findings indicated that comparatively students’ competency in keyboard skills was higher than JAWS application use. Thus students had reached higher stages in the conscious competencies matrix in the former than the latter. It was generally noted that challenges limiting effective use of students’ competencies in computer assistive technology in the School were more personal than external influences. This was because most of the challenges were due to the individual response to the training and familiarity in developing their competencies in using computer assistive technology. Base on this it was recommended that efforts should be made to stock up the laboratory with additional computers. Directly in line with the first recommendation, it was further suggested that more practice time should be created for the students to maximize computer use. Also Licensed JAWS must be acquired by the school to advance students’ competence in using computer assistive technology.

Keywords: computer assistive technology, job access with speech, keyboard, visual impairment

Procedia PDF Downloads 316

Authors: Nur Sulihatimarsyila Abd Wafti, Harrison Lik Nang Lau, Nabilah Kamaliah Mustaffa, Nur Azreena Idris

Abstract:

The use of biolubricant has gained its popularity over the last decade. Base stock produced using methyl ester and trimethylolethane (TME) can be potentially used for biolubricant production due to its biodegradability, non-toxicity and good thermal stability. The synthesis of biolubricant base stock e.g. triester (TE) via transesterification of palm methyl ester and TME in the presence of sodium methoxide as the catalyst was conducted. Factors influencing the reaction conditions were investigated including reaction time, temperature and pressure. The palm-based biolubricant base stock produced was analysed for its monoester (ME), diester (DE) and TE contents using gas chromatography as well as its lubricating properties such as viscosity, viscosity index, oxidation stability, and density. The resulting base stock containing 90 wt% TE was successfully synthesized.

Keywords: biolubricant, methyl ester, triester transesterification, lubricating properties

Procedia PDF Downloads 427