Search results for: Ghana stock exchange

Authors: Patricia Crentsil, Alvina Oriekhova

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The aim of the study is to determine social responsibility in the theory of organisation management. The main objectives are to examine the link between accountability,transparency, and ethical onorganisation management. The study seeks to answer questions that have received inadequate attention in social responsibility literature. Specifically, how accountability, transparency of policy, and ethical aspect enhanced organisation management? The target population of the study comprises of Deans and Head of Departments of Public Universities and Technical Universities in Ghana. The study used purposive sampling technique to select the Public Universities and technical universities in Ghana and adopted simple random Technique to select 300 participants from all Technical Universities in Ghana and 500 participants from all Traditional Universities in Ghana. The sample size will be 260 using confidence level = 95%, Margin of Error = 5%. The study used both primary and secondary data. The study adopted exploratory design to address the research questions. Results indicated thataccountability, transparency, and ethical have a positive significant link with organisation management. The study suggested that management can motivate an organization to act in a socially responsible manner.

Keywords: corporate social responsibility, organisation management, organisation management theory, social responsibility

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Authors: Louis Kusi Frimpong, Martin Oteng-Ababio

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The problem of crime and insecurity in urban environments are often complex, multilayered, multidimensional and sometimes interwoven. It is from this perspective that recent approaches and strategies aimed at responding to crime and insecurity have looked at the problem from a social, economic, spatial and institutional point of view. In Ghana, there is much understanding of how various elements of the social and spatial setting influence crime and safety concerns of residents in urban areas. However, little research attention has been given to the institutional dimension of the problem of crime and insecurity in urban Ghana. In particular, scholars and policymakers in the area of safety and security have scarcely interrogated the forms of collaboration that exist between the various formal and informal institutions and how gaps and lapses in this collaboration influence vulnerability to crime and feelings of insecurity. Using Sekondi-Takoradi as a case study and drawing on both primary and secondary data, this paper assesses the activities of various institutions both formal and informal in crime control and prevention in the Sekondi-Takoradi metropolis, the third largest city in Ghana. More importantly, the paper seeks to address gaps in the institutional arrangement and coordination between and among institutions at the forefront of crime prevention efforts in the metropolis and by extension Ghanaian cities. The study found that whiles there is some form of collaboration between the police and the community, little collaboration existed between planning authorities and the police on the one hand, and the community on the other hand. The paper concludes that in light of the complex nature of a crime, institutional coordination and an inclusive approach involving formal and informal will be critical in promoting safer cities in Ghana.

Keywords: crime prevention, coordination, Ghana, institutional arrangement

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Authors: Ifeoma Patricia Osamor, Ayotunde Qudus Saka, Godwin Omoregbee, Hikmat Oreoluwalomo Omolaja

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Persistent fall in the value of Nigeria's currency compared to other foreign currencies, constant fluctuations in the exchange rate, and an increase in the price of goods and services necessitated the examination of the effects of exchange rate fluctuations on the economic performance of the manufacturing sector in Nigeria. An ex-post facto research design was adopted. Manufacturing gross domestic product (MGDP) was proxied for performance; Naira/Dollar exchange rate (NDE), Naira/Pounds exchange rate (NPE), Foreign exchange supply (FES) were used for exchange rate fluctuations; and inflation rate (INF) was a control variable. Data were collected from CBN Statistical Bulletin (2020) also World Development Indicators of the World Bank, while data collected were analysed using descriptive analysis, unit root, bounds cointegration test, and ARDL. Findings showed that changes in Naira/Dollar exchange rate (NDE) and Naira/Pound Sterling exchange rate negatively but significantly impact the economic performance of the manufacturing sector, while foreign exchange supply leads to an insignificant positive effect on the economic performance of the manufacturing. The study concludes that exchange rate fluctuations negatively impact the performance of the manufacturing sector in Nigeria and, therefore, recommends that government should encourage export diversification through agriculture, agro-investment, and agro-allied industries that would boost export in order to improve the value of the Naira, thereby stabilizing the exchange rate.

Keywords: exchange rate, economic performance, gross domestic product, inflation rate, foreign exchange supply

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Authors: Mensah-Akoto Julius, Kenichi Matsui

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This paper examines the impact of COVID-19 on waste management workers in Ghana. A questionnaire survey was conducted among 60 waste management workers in Accra metropolis, the capital region of Ghana, to understand the impact of the COVID-19 pandemic on waste generation, workers’ safety in collecting solid waste, and service delivery. To find out correlations between the pandemic and safety of waste management workers, a regression analysis was used. Regarding waste generation, the results show the pandemic led to the highest annual per capita solid waste generation, or 3,390 tons, in 2020. Regarding the safety of workers, the regression analysis shows a significant and inverse association between COVID-19 and waste management services. This means that contaminated wastes may infect field workers with COVID-19 due to their direct exposure. A rise in new infection cases would have a negative impact on the safety and service delivery of the workers. The result also shows that an increase in economic activities negatively impacts waste management workers. The analysis, however, finds no statistical relationship between workers’ service deliveries and employees’ salaries. The study then discusses how municipal waste management authorities can ensure safe and effective waste collection during the pandemic.

Keywords: Covid-19, waste management worker, waste collection, Ghana

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Authors: Omer Farooq, Salman Ahmed Khan, Sadaf Khalid

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Modern day stock markets have almost entirely became automated. Even though it means increased profits for the investors by algorithms acting upon the slightest price change in order of microseconds, it also has given birth to many ethical dilemmas in the sense that slightest mistake can cause people to lose all of their livelihoods. This paper reviews one such event that happened on May 06, 2010 in which $1 trillion dollars disappeared from the Dow Jones Industrial Average. We are going to discuss its various aspects and the ethical dilemmas that have arisen due to it.

Keywords: flash crash, market crash, stock market, stock market crash

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Authors: Morten Brøgger, Kim Wittchen

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Focus on reducing energy consumption in existing buildings at large scale, e.g. in cities or countries, has been increasing in recent years. In order to reduce energy consumption in existing buildings, political incentive schemes are put in place and large scale investments are made by utility companies. Prioritising these investments requires a comprehensive overview of the energy consumption in the existing building stock, as well as potential energy-savings. However, a building stock comprises thousands of buildings with different characteristics making it difficult to model energy consumption accurately. Moreover, the complexity of the building stock makes it difficult to convey model results to policymakers and other stakeholders. In order to manage the complexity of the building stock, building archetypes are often employed in building stock energy models (BSEMs). Building archetypes are formed by segmenting the building stock according to specific characteristics. Segmenting the building stock according to building type and building age is common, among other things because this information is often easily available. This segmentation makes it easy to convey results to non-experts. However, using a single archetypical building to represent all buildings in a segment of the building stock is associated with loss of detail. Thermal characteristics are aggregated while other characteristics, which could affect the energy efficiency of a building, are disregarded. Thus, using a simplified representation of the building stock could come at the expense of the accuracy of the model. The present study evaluates the accuracy of a conventional archetype-based BSEM that segments the building stock according to building type- and age. The accuracy is evaluated in terms of the archetypes’ ability to accurately emulate the average energy demands of the corresponding buildings they were meant to represent. This is done for the buildings’ energy demands as a whole as well as for relevant sub-demands. Both are evaluated in relation to the type- and the age of the building. This should provide researchers, who use archetypes in BSEMs, with an indication of the expected accuracy of the conventional archetype model, as well as the accuracy lost in specific parts of the calculation, due to use of the archetype method.

Keywords: building stock energy modelling, energy-savings, archetype

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Authors: Yvonne Ayerki Lamptey

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The expanding informal sector in developing countries and in Ghana in particular from the 1980s has now been aggravated by the growing population and downsizing in both the public and private sectors, with displaced workers finding alternative livelihoods in the informal sector. Youth and graduate unemployment also swell the numbers and further promote the continuity of the sector. Formal workers and institutions facilitate the growth and complicate demarcations between informality within the formal and informal sectors. In spite of its growth and increasing importance, the informal economy does not feature in policy debates and has often been neglected by the Ghana government. The phenomenon has evolved with modernity into myriad unimaginable forms. Indeed, actors within the sector often clash with the interventions provided by policy makers - because neither the operatives nor the activities they perform can be clearly defined. This study uses in-depth interviews to explore the behavioural nature of the informal workers in Ghana to understand how the operatives describe and perceive the sector, and to identify the factors that influence their drive to stay within the sector. This paper concludes that the operatives clearly distinguish between the formal and informal sectors and identify the characteristics and conditions that constitute the informal sector. Other workers are trapped between formality and informality. The findings also enumerate the push and pull factors contributing to the growth of the sector.

Keywords: informal employment, informal sector, informal work, informality

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Authors: Juniarti, Agus Arianto Toly

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This study aims to examine the effect of capital expenditure on the investors’ responses. The respondents were companies with the best stock performance in each sector in 2017. The observation period is 2017 to 2019. Top 10 companies in each sector with the best stock performance in companies listed on the Indonesia Stock Exchange were selected. The main variables are a growth signal which is proxied by growth in capital spending and capital expenditure, and risk and investor response, which is proxied by CAR. Financial performance as measured by ROA is a control variable in this study. The results showed that the signal of growth as measured by capital expenditures responded positively by the market, the risk moderates this influence, companies with high risk will be responded negatively by investors and vice versa. This finding corrects previous findings that only looked at the signal aspect of growth, without linking it to risk. In addition, these findings reinforce the argument that investors buy the future of the company, not a momentary financial performance. This can be seen from the absence of ROA influence on investor response. This study found that companies need to manage risk appropriately, because the risk aspect of the company is a crucial factor for investors. High risks will eliminate the benefits of strategic decisions in this case in the form of capital expenditures.

Keywords: capital expenditure, growth signals, investor response, risk

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Authors: Aisha Iddrisu

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The proliferation of cyberviolence in the wave of increased social media consumption calls for immediate attention both at the local and global levels. With over 4.70 billion social media users worldwide and 8.8 social media users in Ghana, various forms of violence have become the order of the day in most countries and communities. Cyber violence is defined as producing, retrieving, and sharing of hurtful or dangerous online content to cause emotional, psychological, or physical harm. The urgency and severity of cyber violence have led to the enactment of laws in various countries though lots still need to be done, especially in Ghana. In Ghana, studies on cyber violence have not been extensively dealt with. Existing studies concentrate only on one form or the other form of cyber violence, thus cybercrime and cyber bullying. Also, most studies in Africa have not explored cyber violence forms using empirical theories and the few that existed were qualitatively researched, whereas others examine the effect of cyber violence rather than examining why those who involve in it behave the way they behave. It is against this backdrop that this study aims to examine various cyber violence behaviour among social media users in Ghana by applying the theory of Self-control and Social control theory. This study is important for the following reasons. The outcome of this research will help at both national and international level of policymaking by adding to the knowledge of understanding cyberviolence and why people engage in various forms of cyberviolence. It will also help expose other ways by which such behaviours are enforced thereby serving as a guide in the enactment of the rightful rules and laws to curb such behaviours. It will add to literature on consequences of new media. This study seeks to confirm or reject to the following research hypotheses. H1 Social media usage has direct significant effect of cyberviolence behaviours. H2 Ineffective parental management has direct significant positive relation to Low self-control. H3 Low self-control has direct significant positive effect on cyber violence behaviours among social, H4 Differential association has significant positive effect on cyberviolence behaviour among social media users in Ghana. H5 Definitions have a significant positive effect on cyberviolence behaviour among social media users in Ghana. H6 Imitation has a significant positive effect on cyberviolence behaviour among social media users in Ghana. H7 Differential reinforcement has a significant positive effect on cyberviolence behaviour among social media users in Ghana. H8 Differential association has a significant positive effect on definitions. H9 Differential association has a significant positive effect on imitation. H10 Differential association has a significant positive effect on differential reinforcement. H11 Differential association has significant indirect positive effects on cyberviolence through the learning process.

Keywords: cyberviolence, social media users, self-control theory, social learning theory

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Authors: Eric Agyekum, Dominic Asitanga

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Ghana is widely considered asa beacon of democracy in sub-Saharan Africa. With a relatively free media, the country was ranked30thin the world and third in Africaon the 2021 Press Freedom Index. Despite the democratic gains, itis one of the most politically polarized nations in the world. Ghana’spolitical division is evident in the current hunglegislature, where each of the two dominant political parties has 137 members, with an independent member occupying the remaining one seat. Misinformation and fake newsthrive in systems with acuteideological and political differences(Imelda et al, 2021; Azzimonti&Fernandes, 2018; Spohr, 2017) and Ghana is no exception. The information disorder problem has been exacerbatedby the COVID-19 pandemic, with its attendant conspiracy theories and speculations, making it difficult for the media and fact-checking organizations to verifyall claims and flag false information. In Ghana, fact-checking agencies like Ghana Fact, Dubawa Ghana, and some mainstream news media organizations have been fact-checking political claims, COVID-19 conspiracy theories, and many others. However, it is not clear if the audience consumeand attach prominence to these fact-checked stories or even visit the websites of the fact-checking agencies to read the content. Nekmat (2020) opine that though the literature on fact-checking suggest that fact-checked stories can alter readers’ beliefs, very few studies have investigated the patronage and the potential of fact-checks to deter users from sharing false news with others, particularly on social media. In response to Nekmat, this study has been initiated to examine the perception and attitude of the audience in Ghana towards fact-checks. Anchored on the principles of the nudge theory, this study will investigate how fact-checked stories alters readers’ behavioural patterns. A survey will be conducted to collect data from sampled members of the Ghanaian society.

Keywords: fact-checking, information disorder, nudge theory, political polarization

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Authors: Gladys Maame Akua Setordzie

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Decision on one’s future career is said to have both beneficial and detrimental effects on one’s mental health, social and economic standing later in life, making it an important developmental problem for young people. In this light, the study’s overarching goal was to assess how different personality traits serve as a determinant of career decision-making difficulties experienced by university students in Ghana. Specifically, for the purpose of shaping the future of individualized career counselling support, the study investigated whether the “Big Five” personality traits influenced the difficulties students at the University of Ghana encounter while making career decisions. Cross-sectional survey design using a stratified random sampling technique, sampled 494 undergraduate students from the University of Ghana, who completed the Big Five Questionnaire and the Career Decision-making Difficulties Questionnaire. Hierarchical multiple regression analyses indicated that neuroticism, consciousness, and openness, accounted for a significant proportion of the variance in career decision-making difficulties. This study provides empirical evidence to support the idea that neuroticism is not necessarily a negative emotion when it comes to career decisionmaking, as has been suggested in previous studies, but rather it allows students to perform better in career decision-making. These results suggests that personality traits play a significant role in the career decision-making process of students of the University of Ghana. Therefore, a better understanding of how different personal and interpersonal factors impact career indecision in students could help career counsellors develop more focused vocational and career guidance interventions.

Keywords: career decision-making difficulties, dysfunctional career beliefs, personality traits, young people

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Authors: Edwina Owusu Panin

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Families may face significant obstacles as a result of single parenting and disabilities. The amenities and support those single parents need to give their children with disabilities the care they need are frequently out of their reach. These can include financial hardship, limited access to health and education, and social isolation. In addition, cultural attitudes toward disability can worsen these challenges, making it difficult for families to get the support and resources they need. Despite these challenges, many single parents have shown resilience and strength to overcome these difficulties and defend the rights of their children; some, too, have failed in taking care of their disabled children in Ghana. The study traces the developmental process of how single parents cope with disabled children. There is a discouraging fact that single father’s face a much more dreadful task in taking care of their disabled children in Ghana, which is later highlighted in the article. Additional research and support are needed to address the unique needs of families facing these challenges. This case study explores the experiences of single parents raising children with disabilities in Ghana. Using a qualitative approach, the study examines the challenges facing lone parents in caring for children, including access to healthcare, education and social support. In addition, the study examines the impact of cultural disability attitudes on the experiences of single parents and their children and what causes it in Ghana. Findings indicate that single parents in Ghana face significant challenges in accessing resources and support for their children and that cultural attitudes toward disability may aggravate these challenges. However, the study recommends the tenacity and strengths of how to create awareness, protect the welfare and also by encouraging single parents to face these challenges and protect the rights of their children, swaying away influences of bad cultural attitudes.

Keywords: disability, single parenting, case study, assessing

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Authors: Hadi Mousavi, Majid Davoudi Nasr

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Executives can maximize profits by recognizing the factors that affect investment and using them to obtain the optimal level of investment. Inefficient markets have shortcomings that can impact the optimal level of investment, leading to the process of over-investment or under-investment. In the present study, the relationship between the overconfidence of senior managers and abnormal cash fluctuations with respect to financial flexibility in companies listed in the Tehran stock exchange from 2009 to 2013 were evaluated. In this study, the sample consists of 84 companies selected by a systematic elimination method and 420 year-companies in total. In this research, EVIEWS software was used to test the research hypotheses by linear regression and correlation coefficient and after designing and testing the research hypothesis. After designing and testing research hypotheses that have been used to each hypothesis, it was concluded that there was a significant relationship between the overconfidence of senior managers and abnormal cash fluctuations, and this relationship was not significant at any level of financial flexibility. Moreover, the findings of the research showed that there was a significant relationship between senior manager’s overconfidence and positive abnormal cash flow fluctuations in firms, and this relationship is significant only at the level of companies with high financial flexibility. Finally, the results indicate that there is no significant relationship between senior managers 'overconfidence and negative cash flow abnormalities, and the relationship between senior managers' overconfidence and negative cash flow fluctuations at the level of companies with high financial flexibility was confirmed.

Keywords: abnormal cash fluctuations, overconfidence of senior managers, financial flexibility, accounting

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Authors: Zane Turner, Kevin Labille, Susan Gauch

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Sentiment analysis is a broad and expanding field that aims to extract and classify opinions from textual data. Lexicon-based approaches are based on the use of a sentiment lexicon, i.e., a list of words each mapped to a sentiment score, to rate the sentiment of a text chunk. Our work focuses on predicting stock price change using a sentiment lexicon built from financial conference call logs. We present a method to generate a sentiment lexicon based upon an existing probabilistic approach. By using a domain-specific lexicon, we outperform traditional techniques and demonstrate that domain-specific sentiment lexicons provide higher accuracy than generic sentiment lexicons when predicting stock price change.

Keywords: computational finance, sentiment analysis, sentiment lexicon, stock movement prediction

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Authors: Zane Turner, Kevin Labille, Susan Gauch

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Sentiment analysis is a broad and expanding field that aims to extract and classify opinions from textual data. Lexicon-based approaches are based on the use of a sentiment lexicon, i.e., a list of words each mapped to a sentiment score, to rate the sentiment of a text chunk. Our work focuses on predicting stock price change using a sentiment lexicon built from financial conference call logs. We introduce a method to generate a sentiment lexicon based upon an existing probabilistic approach. By using a domain-specific lexicon, we outperform traditional techniques and demonstrate that domain-specific sentiment lexicons provide higher accuracy than generic sentiment lexicons when predicting stock price change.

Keywords: computational finance, sentiment analysis, sentiment lexicon, stock movement prediction

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Authors: Richard G. Boakye, Dara A Stanley, Mathavan Vickneswaran, Blanaid White

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The cultivation of cocoa (Theobroma cocoa), an important cash crop that contributes immensely towards the economic growth of several Western African countries, depends almost entirely on pesticide application owing to the plant’s vulnerability to pest and disease attacks. However, the extent to which pesticides inputted for cocoa cultivation impact bees and bee products has rarely received attention in research. Through this study, the effects of pesticides applied for cocoa cultivation on honey in Ghana were examined by evaluating honey samples from cocoa and forest ecosystems in Ghana. An analysis of five honey samples from each land use type confirmed pesticide contaminants from these land use types at measured concentrations for acetamiprid (0.051mg/kg); imidacloprid (0.004-0.02 mg/kg), thiamethoxam (0.013-0.017 mg/kg); indoxacarb (0.004-0.045 mg/kg) and sulfoxaflor (0.004-0.026 mg/kg). None of the observed pesticide concentrations exceeded EU maximum residue levels, indicating no compromise of the honey quality for human consumption. However, from the results, it could be inferred that toxic effects on bees may not be ruled out because observed concentrations largely exceeded the threshold of 0.001 mg/kg at which sublethal effects on bees have previously been reported. One of the most remarkable results to emerge from this study is the detection of imidacloprid in all honey samples analyzed, with sulfoxaflor and thiamethoxam also being detected in 93% and 73% of the honey samples, respectively. This suggests the probable prevalence of pesticide use in the landscape. However, the conclusions reached in this study should be interpreted within the scope of pesticide applications within Bia West District and not necessarily extended to other cocoa-producing districts in Ghana. Future studies should therefore include multiple cocoa-growing districts and other non-cocoa farming landscapes. Such an approach can give a broader outlook on pesticide residues in honey produced in Ghana.

Keywords: honey, cocoa, pesticides, bees, land use, landscape, residues, Ghana

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Authors: Lina Najafian, Hamidreza Vakilifard

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The present study focused on the relationship between the quality of accruals and non-systematic risk. The independent study variables included the ability of accruals, the information content of accruals, and amount of discretionary accruals considered as accruals quality measures. The dependent variable was non-systematic risk based on the Fama and French Three Factor model (FFTFM) and the capital asset pricing model (CAPM). The control variables were firm size, financial leverage, stock return, cash flow fluctuations, and book-to-market ratio. The data collection method was based on library research and document mining including financial statements. Multiple regression analysis was used to analyze the data. The study results showed that there is a significant direct relationship between financial leverage and discretionary accruals and non-systematic risk based on FFTFM and CAPM. There is also a significant direct relationship between the ability of accruals, information content of accruals, firm size, and stock return and non-systematic based on both models. It was also found that there is no relationship between book-to-market ratio and cash flow fluctuations and non-systematic risk.

Keywords: accruals quality, non-systematic risk, CAPM, FFTFM

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Authors: Bernard Owusu Asare

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This study investigates the implementation and efficacy of community policing within the Ghana Police Service, with a focus on its impact on local communities. Emphasizing the goal of creating safer environments and improving the overall quality of life, the research engages opinion leaders from selected communities in Ghana, as well as members of the police force stationed within these communities. Employing a semi-structured interview guide as the primary research instrument, data collection involves face-to-face interviews conducted at respondents' residences and policing centers. The preliminary findings underscore the pivotal role of collaborative efforts between community elders and police personnel in the successful execution of community policing initiatives. Furthermore, the study identifies gainful employment for the youth as a key determinant of effective policing, highlighting the interconnectedness of socioeconomic factors with law enforcement outcomes. The study further reveals that access to the internet emerges as a factor influencing both policing practices and the overall quality of life within these communities. By contextualizing the dynamics of community policing in the local Ghanaian context, this research aims to contribute valuable insights to the ongoing discourse on effective law enforcement strategies and their impact on community well-being.

Keywords: community, policing, police service, Ghana

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Authors: A. Boateng, La Gil-Alana, M. Lesaoana; Hj. Siweya, A. Belete

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This study examines long memory or long-range dependence in the CPI inflation rates of Ghana and South Africa using Whittle methods and autoregressive fractionally integrated moving average (ARFIMA) models. Standard I(0)/I(1) methods such as Augmented Dickey-Fuller (ADF), Philips-Perron (PP) and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests were also employed. Our findings indicate that long memory exists in the CPI inflation rates of both countries. After processing fractional differencing and determining the short memory components, the models were specified as ARFIMA (4,0.35,2) and ARFIMA (3,0.49,3) respectively for Ghana and South Africa. Consequently, the CPI inflation rates of both countries are fractionally integrated and mean reverting. The implication of this result will assist in policy formulation and identification of inflationary pressures in an economy.

Keywords: Consumer Price Index (CPI) inflation rates, Whittle method, long memory, ARFIMA model

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Authors: Ernest Nweke

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Mongolia has made giant strides in the development of its auditing and accounting system from Soviet-style to a market-oriented system. High levels of domestic and foreign investment desired by the Mongolian government require that better and improved quality of corporate information and disclosure consistent with international standards be made available to investors. However, the Mongolian Certified Public Accountants (CPA) profession is still developing, and the quality of services provided by accounting firms in most cases do not comply with International Financial Reporting Standards (IFRS) framework approved by the government for use in financial reporting. Against this backdrop, Accounting and audit reforms, liberalization and deregulation, establishment of an efficient and effective professional monitoring and supervision regime are policy necessities. These will further enhance the Mongolian business environment, eliminate incompetence in the system, make the economy more attractive to investors and ultimately lift reporting standards and bring about improved accounting, auditing and disclosure practices among Mongolian firms. This paper examines the fundamental issues in the accounting and auditing environment in Mongolia and investigates the relationship between selected characteristics of Mongolian Stock Exchange (MSE) listed firms (profitability, leverage, firm size, firm auditor size, firm listing age, board size and proportion of independent directors) and voluntary accounting disclosures in their annual reports and accounts. The selected sample of firms for the research purpose consists of the top 20 indexes of the MSE, representing over 95% of the market capitalization. An empirical analysis of the hypothesized relationship was carried out using multiple regression in EViews analytical software. Research results lend credence to the fact that only a few of the company attributes positively impact voluntary accounting disclosures in Mongolian Stock Exchange-listed firms. The research is motivated by the absence of empirical evidence on the correlation between the quality of voluntary accounting disclosures made by listed companies in Mongolia and company characteristics and the findings thereof significantly useful to both firms and regulatory authorities. The concluding part of the paper precisely consists of useful research-based recommendations for listed firms and regulatory agencies on measures to put in place in order to enhance the quality of corporate financial reporting and disclosures in Mongolia.

Keywords: accounting, auditing, corporate disclosure, listed firms

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Authors: Lethamaga Tladi, Ray Kekwaletswe

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This study sought to conceptualise a multi-level framework for the effective use of stock ordering system in small enterprises in a rural area context. The interpretive research methodology has been used to enable the researcher to analyse, in-depth, and the subjective meanings of small enterprises’ employees in using the stock ordering system. The empirical data was collected from 13 small enterprises’ employees as participants through semi-structured interviews and observations. Interpretive Phenomenological Analysis (IPA) approach was used to analyse the small enterprises’ employee’s own account of lived experiences in relations to stock ordering system use in terms of their relatedness to, and cognitive engagement with. A case study of Kgautswane, a rural area in Limpopo Province, South Africa, served as a social context where the phenomenon manifested. Technology-Organisation-Environment Theory (TOE), Technology-to-Performance Chain Model (TPC), and Representation Theory (RT) underpinned this study. In this multi-level study, the findings revealed that; At the organisational level, the effective use of stock ordering system was found to be associated with the organisational performance gains such as efficiency, productivity, quality, competitiveness, and market share. Equally so, at the individual level, the effective use of stock ordering system minimised the end-user’s efforts and time to accomplish their tasks, which yields improved individual performance. The Multi-level framework for effective use of stock ordering system was presented.

Keywords: effective use, multi-dimensions of use, multi-level of use, multi-level research, small enterprises, stock ordering system

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Authors: Yosra Mefteh Rekik

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A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

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Authors: Chih-Hsiang Chang, Fang-Jyun Su

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This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks.

Keywords: stock characteristics, herding formation, investment decision, US equity market, lead-lag relationship

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Authors: Peter Adu

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Background: There is a paucity of mental health research in Ghana. Little is known about the beliefs and attitudes regarding specific mental disorders in Ghana. Method: A vignette study was conducted to examine the relationship between causal attributions, help-seeking, and stigma towards depression and schizophrenia using lay Ghanaians (N = 410). This adapted questionnaire presented two unlabelled vignettes about a hypothetical person with the above disorders for participants to provide their impressions. Next, participants answered questions on beliefs and attitudes regarding this person. Results: The results showed that causal beliefs about mental disorders were related to treatment options and stigma: spiritual causal attributions associated positively with spiritual help-seeking and perceived stigma for the mental disorders, whilst biological and psychosocial causal attribution of the mental disorders was positively related with professional help-seeking. Finally, contrary to previous literature, belonging to a particular religious group did not negatively associate with professional help-seeking for mental disorders. Conclusion: In conclusion, results suggest that Ghanaians may benefit from exposure to corrective information about depression and schizophrenia. Our findings have implications for mental health literacy and anti-stigma campaigns in Ghana and other developing countries in the region.

Keywords: stigma, mental health literacy, depression, schizophrenia, spirituality, religion

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Authors: Vish Putcha, Chandrasekhar Putcha, Siva Hari

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In the current digital era of free trading and pandemic-driven remote work culture, markets worldwide gained momentum for retail investors to trade from anywhere easily. The number of retail traders rose to 24% of the market from 15% at the pre-pandemic level. Most of them are young retail traders with high-risk tolerance compared to the previous generation of retail traders. This trend boosted the growth of subscription-based market predictors and market data vendors. Young traders are betting on these predictors, assuming one of them is correct. However, 90% of retail traders are on the losing end. This paper presents multiple indicators and attempts to derive behavioral patterns from the underlying stocks. The two major indicators that traders and investors follow are technical and fundamental. The famous investor, Warren Buffett, adheres to the “Value Investing” method that is based on a stock’s fundamental Analysis. In this paper, we present multiple indicators from various methods to understand the behavior patterns of stocks. For this research, we picked five stocks with a market capitalization of more than $200M, listed on the exchange for more than 20 years, and from different industry sectors. To study the behavioral pattern over time for these five stocks, a total of 8 indicators are chosen from fundamental, technical, and financial indicators, such as Price to Earning (P/E), Price to Book Value (P/B), Debt to Equity (D/E), Beta, Volatility, Relative Strength Index (RSI), Moving Averages and Dividend yields, followed by detailed mathematical Analysis. This is an interdisciplinary paper between various disciplines of Engineering, Accounting, and Finance. The research takes a new approach to identify clear indicators affecting stocks. Statistical Analysis of the data will be performed in terms of the probabilistic distribution, then follow and then determine the probability of the stock price going over a specific target value. The Chi-square test will be used to determine the validity of the assumed distribution. Preliminary results indicate that this approach is working well. When the complete results are presented in the final paper, they will be beneficial to the community.

Keywords: stock pattern, stock market analysis, stock predictions, trading, investing, fundamental analysis, technical analysis, quantitative trading, financial analysis, behavioral analysis

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Authors: Ammatu Alhassan

Abstract:

Quality healthcare delivery is a crucial indicator in assessing the overall developmental status of a country. There are many limitations in the Ghanaian healthcare supply chain due to the lack of studies about the correlation between quality health service and the healthcare supply chain. Patients who visit various healthcare providers face unpleasant experiences such as delays in the availability of their medications. In this study, an assessment of the quality of services provided to Ghanaian outpatients who visit public healthcare providers was investigated to establish its effect on the healthcare supply chain using a conceptual model. The Donabedian’s structure, process, and outcome theory for service quality evaluation were used to analyse 20 Ghanaian hospitals. The data obtained was tested using the structural equation model (SEM). The findings from this research will help us to improve the overall quality of the Ghanaian healthcare supply chain. The model which will be developed will help us to understand better the linkage between quality healthcare and the healthcare supply chain as well as serving as a reference tool for future healthcare research in Ghana.

Keywords: Ghana, healthcare, outpatients, supply chain

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Authors: Mia Françoise

Abstract:

This report aims to develop a strategy for assisting short-term investors to benefit from the current economic climate in South Africa by utilizing technical analysis techniques and predictive analytics. As part of this research, value investing and technical analysis principles will be combined to maximize returns for South African investors while optimizing volatility. As an emerging market, South Africa offers many opportunities for high growth in sectors where other developed countries cannot grow at the same rate. Investing in South African companies with significant growth potential can be extremely rewarding. Although the risk involved is more significant in countries with less developed markets and infrastructure, there is more room for growth in these countries. According to recent research, the offshore market is expected to outperform the local market over the long term; however, short-term investments in the local market will likely be more profitable, as the Johannesburg Stock Exchange is predicted to outperform the S&P500 over the short term. The instabilities in the economy contribute to increased market volatility, which can benefit investors if appropriately utilized. Price prediction and portfolio optimization comprise the two primary components of this methodology. As part of this process, statistics and other predictive modeling techniques will be used to predict the future performance of stocks listed on the Johannesburg Stock Exchange. Following predictive data analysis, Modern Portfolio Theory, based on Markowitz's Mean-Variance Theorem, will be applied to optimize the allocation of assets within an investment portfolio. By combining different assets within an investment portfolio, this optimization method produces a portfolio with an optimal ratio of expected risk to expected return. This methodology aims to provide a short-term investment with a stock portfolio that offers the best risk-to-return profile for stocks listed on the JSE by combining price prediction and portfolio optimization.

Keywords: financial stocks, optimized asset allocation, prediction modelling, South Africa

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Authors: Sofia Stoica

Abstract:

In this paper, we use historical data to predict the stock price of a tech company. To this end, we use a dataset consisting of the stock prices in the past five years of ten major tech companies – Adobe, Amazon, Apple, Facebook, Google, Microsoft, Netflix, Oracle, Salesforce, and Tesla. We experimented with a variety of models– a linear regressor model, K nearest Neighbors (KNN), a sequential neural network – and algorithms - Multiplicative Weight Update, and AdaBoost. We found that the sequential neural network performed the best, with a testing error of 0.18%. Interestingly, the linear model performed the second best with a testing error of 0.73%. These results show that using historical data is enough to obtain high accuracies, and a simple algorithm like linear regression has a performance similar to more sophisticated models while taking less time and resources to implement.

Keywords: finance, machine learning, opening price, stock market

Procedia PDF Downloads 119

Authors: Roohollah Jamshidpour, Elaheh Ahmadi, Farhad Shah Veisi

Abstract:

Present research seeks to answer this question: Is there any relationship between corporate governance mechanisms and decision on corporate investments? Percentages of institutional, board of director’s, and stockholder’s ownership are among internal mechanisms of corporate governance relationship of which with investment-based decisions are studied by this research. Information on 103 companies during 1388 (2009)- 1393 (2014). Initially, research variables are identified; next, Rah Avard-e Novin software is used to gather Information. SPSS software is employed to test hypotheses with respect to descriptive and inferential statistics like correlation analysis. Research results show that percentage of institutional stockholders’ ownership has a significant direct relationship with investment decisions. For other cases, no significant relationship is observed between corporate governance mechanisms and investment decisions.

Keywords: corporate governance, company size, free floating stock, institutional investors, major shareholders

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Authors: Miriam Sosa, Edgar Ortiz, Alejandra Cabello

Abstract:

This paper examines the volatility changes and leverage effects of the MILA stock markets and their changes since the 2007 global financial crisis. This group integrates the stock markets from Chile, Colombia, Mexico and Peru. Volatility changes and leverage effects are tested with a symmetric GARCH (1,1) and asymmetric TARCH (1,1) models with a dummy variable in the variance equation. Daily closing prices of the stock indexes of Chile (IPSA), Colombia (COLCAP), Mexico (IPC) and Peru (IGBVL) are examined for the period 2003:01 to 2015:02. The evidence confirms the presence of an overall increase in asymmetric market volatility in the Peruvian share market since the 2007 crisis.

Keywords: financial crisis, Latin American Integrated Market, TARCH, GARCH

Procedia PDF Downloads 249