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Papers by Gilbert Kwabena Amoako

Discrete Dynamics in Nature and Society

Financial markets integration has resulted in high interconnectedness among the BRICS stock marke... more Financial markets integration has resulted in high interconnectedness among the BRICS stock markets, which minimizes diversification potentials. This has increased investors’ interest in the financialization of commodities to minimize their portfolio risks. However, the comovements between these assets do not operate in a vacuum, which requires that the role of volatilities be considered in tandem. The purpose of this study is to explore the interdependencies between energy commodities and stock markets of BRICS in the midst of relevant volatilities. For this reason, the wavelet techniques, biwavelet and partial wavelet, are employed. We find that positive comovements between energy commodities and stock markets of BRICS become stronger in the long-term. Furthermore, volatility has a long-term impact on the correlations between energy commodities and the BRICS stock market. We argue that the US Volatility Index, which measures investor anxiety and volatility in stock markets, has th...

The behaviour of the real interest rate is a significant indicator of savings, investment, and in... more The behaviour of the real interest rate is a significant indicator of savings, investment, and intertemporal decisions. We contribute to the literature on the long memory property of real interest rates in Ghana, using data from 1978M1 to 2013M3. Our study applies ARFIMA and FIGARCH models to analyze the long-run properties of real interest rates. Preliminary evidence based on a battery of tests for unit root and stationarity suggests nonstationary nominal interest rates, whereas real interest rates exhibit indistinguishable integration property. Estimates of the long memory parameter imply that shocks have long memory effects, albeit ultimately mean-reverting. JEL: C22, E21, E44, E52, E62, G12 Keywords: ARFIMA, FIGARCH, real interest rates, long memory, mean-reversion

Sustainability, 2021

Operational activities of firms accumulate over time and adversely impact the environment, which,... more Operational activities of firms accumulate over time and adversely impact the environment, which, in turn, threaten the earth’s ecosystem and sustainable development agendas. Both internal- and external-specific pressures may play a crucial part in a firm’s decision to conform to environmental accountability practices (EAP). This paper examines the associations between institutional isomorphic forces and EAP among environmentally sensitive firms in Ghana. A representative sample of 166 environmentally sensitive firms were randomly selected and included in this study. A structured questionnaire was used to obtain relevant data for the analysis. Multiple regression models estimated the hypothesized crude and adjusted associations between EAP and isomorphic factors (mimetic, normative and coercive pressures). Initial adjustment with the isomorphic factors revealed significant associations of mimetic pressure which arises when companies engage in competition seeking superior performance...

Environment, Development and Sustainability, 2021

Environmental sustainability has received much attention in recent times by world leaders. This i... more Environmental sustainability has received much attention in recent times by world leaders. This is largely due to the rate at which the natural environment is deteriorating and thus, presenting an urgent need for action to ensure the continuity of the earth ecosystem to sustain life. Consequently, the world has witnessed heightened pressure on firms to engage in environmental accountability practices. This is partly because firms have been implicated as major contributors to environmental degradation, particularly in low-income settings. Extensive research has, therefore, been directed by the academic community to understand the nature and extent to which institutional factors and the firm’s initiatives may predict firm environmental accountability practice. This paper, therefore, aimed at providing a review and synthesis of institutional isomorphism, environmental management accounting and environmental accountability, and to propose a theoretical framework to investigate the nexus...

The importance of maintaining proper books of accounts and sound accounting practices has been em... more The importance of maintaining proper books of accounts and sound accounting practices has been emphasised in ensuring proper financial management in SMEs. In this study, we investigate the record keeping strategies utilized by SMEs in Kumasi (Ghana) through data based on responses to a structured questionnaire from 210 SMEs in Kumasi. We report that majority of SMEs fail to maintain complete accounting records as they think there is no need to keep accounting records and that it exposes their financial position. It is recommended that training programmes must be organised to sensitize owners/managers on the need to maintain proper books of accounts. The government should also come out with the necessary legal instruments to make the preparation of proper books of accounts mandatory in order to improve SMEs practice of accounting in Ghana.

Research Journal of Finance and Accounting, 2012

The aim of this study is to identify the extent to which listed banks in Ghana comply with Intern... more The aim of this study is to identify the extent to which listed banks in Ghana comply with International Financial Reporting Standards, with particular reference to financial instruments IFRS 7. The level of mandatory compliance with IFRS 7 was measured using a mandatory disclosure index (MDI) from a self-constructed compliance checklist. The sample consisted of six listed banks and covers the period 2008 and 2009.The overall results show a high degree of compliance with IFRS 7, though not absolute. The study recommends that though the enforcement mechanism seems to be working well in the short-run resulting in high compliance, effort should be made to sustain it in the long run.

PLOS ONE

Background It remains poorly understood how financial inclusion influences physical health functi... more Background It remains poorly understood how financial inclusion influences physical health functioning in later life in sub-Saharan African context and whether the association differs by gender and social relationships. We aim 1) to examine the associations of financial inclusion with functional impairment during older age in Ghana; and 2) to evaluate whether gender and social networks modify this association. Methods The cross-sectional analyses are based on a sample (N = 1,201) of study participants aged 50 years and over (M = 66.5 years, SD = 11.9, 63.3% female) deriving from the 2016–2017 AgeHeaPsyWel-HeaSeeB Study. Ordinary least squares (OLS) regression analyses with interactions were performed to estimate the link between financial inclusion and functional health and how the association is modified by gender and older age social networks. Results The mean financial inclusion score was 1.66 (SD = 1.74) in women and 2.33 (SD = 1.82) in men whilst mean activities of daily living...

Discrete Dynamics in Nature and Society

Financial markets integration has resulted in high interconnectedness among the BRICS stock marke... more Financial markets integration has resulted in high interconnectedness among the BRICS stock markets, which minimizes diversification potentials. This has increased investors’ interest in the financialization of commodities to minimize their portfolio risks. However, the comovements between these assets do not operate in a vacuum, which requires that the role of volatilities be considered in tandem. The purpose of this study is to explore the interdependencies between energy commodities and stock markets of BRICS in the midst of relevant volatilities. For this reason, the wavelet techniques, biwavelet and partial wavelet, are employed. We find that positive comovements between energy commodities and stock markets of BRICS become stronger in the long-term. Furthermore, volatility has a long-term impact on the correlations between energy commodities and the BRICS stock market. We argue that the US Volatility Index, which measures investor anxiety and volatility in stock markets, has th...

The behaviour of the real interest rate is a significant indicator of savings, investment, and in... more The behaviour of the real interest rate is a significant indicator of savings, investment, and intertemporal decisions. We contribute to the literature on the long memory property of real interest rates in Ghana, using data from 1978M1 to 2013M3. Our study applies ARFIMA and FIGARCH models to analyze the long-run properties of real interest rates. Preliminary evidence based on a battery of tests for unit root and stationarity suggests nonstationary nominal interest rates, whereas real interest rates exhibit indistinguishable integration property. Estimates of the long memory parameter imply that shocks have long memory effects, albeit ultimately mean-reverting. JEL: C22, E21, E44, E52, E62, G12 Keywords: ARFIMA, FIGARCH, real interest rates, long memory, mean-reversion

Sustainability, 2021

Operational activities of firms accumulate over time and adversely impact the environment, which,... more Operational activities of firms accumulate over time and adversely impact the environment, which, in turn, threaten the earth’s ecosystem and sustainable development agendas. Both internal- and external-specific pressures may play a crucial part in a firm’s decision to conform to environmental accountability practices (EAP). This paper examines the associations between institutional isomorphic forces and EAP among environmentally sensitive firms in Ghana. A representative sample of 166 environmentally sensitive firms were randomly selected and included in this study. A structured questionnaire was used to obtain relevant data for the analysis. Multiple regression models estimated the hypothesized crude and adjusted associations between EAP and isomorphic factors (mimetic, normative and coercive pressures). Initial adjustment with the isomorphic factors revealed significant associations of mimetic pressure which arises when companies engage in competition seeking superior performance...

Environment, Development and Sustainability, 2021

Environmental sustainability has received much attention in recent times by world leaders. This i... more Environmental sustainability has received much attention in recent times by world leaders. This is largely due to the rate at which the natural environment is deteriorating and thus, presenting an urgent need for action to ensure the continuity of the earth ecosystem to sustain life. Consequently, the world has witnessed heightened pressure on firms to engage in environmental accountability practices. This is partly because firms have been implicated as major contributors to environmental degradation, particularly in low-income settings. Extensive research has, therefore, been directed by the academic community to understand the nature and extent to which institutional factors and the firm’s initiatives may predict firm environmental accountability practice. This paper, therefore, aimed at providing a review and synthesis of institutional isomorphism, environmental management accounting and environmental accountability, and to propose a theoretical framework to investigate the nexus...

The importance of maintaining proper books of accounts and sound accounting practices has been em... more The importance of maintaining proper books of accounts and sound accounting practices has been emphasised in ensuring proper financial management in SMEs. In this study, we investigate the record keeping strategies utilized by SMEs in Kumasi (Ghana) through data based on responses to a structured questionnaire from 210 SMEs in Kumasi. We report that majority of SMEs fail to maintain complete accounting records as they think there is no need to keep accounting records and that it exposes their financial position. It is recommended that training programmes must be organised to sensitize owners/managers on the need to maintain proper books of accounts. The government should also come out with the necessary legal instruments to make the preparation of proper books of accounts mandatory in order to improve SMEs practice of accounting in Ghana.

Research Journal of Finance and Accounting, 2012

The aim of this study is to identify the extent to which listed banks in Ghana comply with Intern... more The aim of this study is to identify the extent to which listed banks in Ghana comply with International Financial Reporting Standards, with particular reference to financial instruments IFRS 7. The level of mandatory compliance with IFRS 7 was measured using a mandatory disclosure index (MDI) from a self-constructed compliance checklist. The sample consisted of six listed banks and covers the period 2008 and 2009.The overall results show a high degree of compliance with IFRS 7, though not absolute. The study recommends that though the enforcement mechanism seems to be working well in the short-run resulting in high compliance, effort should be made to sustain it in the long run.

PLOS ONE

Background It remains poorly understood how financial inclusion influences physical health functi... more Background It remains poorly understood how financial inclusion influences physical health functioning in later life in sub-Saharan African context and whether the association differs by gender and social relationships. We aim 1) to examine the associations of financial inclusion with functional impairment during older age in Ghana; and 2) to evaluate whether gender and social networks modify this association. Methods The cross-sectional analyses are based on a sample (N = 1,201) of study participants aged 50 years and over (M = 66.5 years, SD = 11.9, 63.3% female) deriving from the 2016–2017 AgeHeaPsyWel-HeaSeeB Study. Ordinary least squares (OLS) regression analyses with interactions were performed to estimate the link between financial inclusion and functional health and how the association is modified by gender and older age social networks. Results The mean financial inclusion score was 1.66 (SD = 1.74) in women and 2.33 (SD = 1.82) in men whilst mean activities of daily living...