Prince Gyimah - Academia.edu (original) (raw)

Papers by Prince Gyimah

Accounting and Finance Research, Jun 6, 2018

This paper assesses the effect of corporate governance on the financial performance of manufactur... more This paper assesses the effect of corporate governance on the financial performance of manufacturing firms in a developing country. Specifically, the paper investigates whether gender diversity, board independence, and board size affects return on asset (ROA) and return on equity (ROE) of manufacturing listed firms in Ghana. We use the generalized least squares (GLS) panel regression model to analyze the dataset of 11 listed manufacturing firms from 2009-2013. Our result reveals an insignificant representation of women on boards. Also, the empirical result shows that board independence and board gender diversity have significant positive effect on ROE and ROA. However, there is no statistical significant relationship between board size and firm performance (ROE and ROA). We suggest that manufacturing firms should appoint female board members as well as outside directors on their boards as this can make significant contribution to firm's performance. Our study provides the first comprehensive explicit exposition of corporate governance-performance nexus using data from the manufacturing sector in Ghana.

Journal of global awareness, Dec 28, 2022

Extant research evidence shows that interpersonal bonds-the bond to the immediate supervisor and ... more Extant research evidence shows that interpersonal bonds-the bond to the immediate supervisor and work team-have an incremental predictive effect in western settings, neglecting emerging economic and cultural environments. This study, thus, examines the impact of cultural profiles on interpersonal bonds and related performance in an emerging market context. Specifically, the study examines the emergence of profiles based on micro-level psychological collectivism (individualism) and power distance orientations. The study further examines the effect of the emerged profiles on interpersonal bonds and the performance of activities related to the targets of the bonds. A survey questionnaire was used to collect data from 148 multiple public and private organizations of varied industries (banking, manufacturing, education, and local government) in an emerging market. Using the MANOVA analytic procedure, the study finds that the supervisor-oriented and team-involved profile rather than the team-alienated profile demonstrates a significantly higher level of work outcomes involving interpersonal commitment to the supervisor and substantially higher task performance. The outcome suggests that power distance cultural value may have a negative psychological effect while collectivism has a positive psychological effect on work outcomes in this context. The implication of the outcome for theory and policy in the collectivist context is discussed.

Global Business Review

Using a quantitative data set of 213 banks selected from 11 African nations between 2015 and 2020... more Using a quantitative data set of 213 banks selected from 11 African nations between 2015 and 2020 and ordered probit regression techniques, this study examines the relationship between internal audit quality, corporate governance, and the performance of banks in Africa. The study finds that corporate governance mechanisms (such as board size, board expertise, and corporate governance disclosures), and internal audit quality measures (such as audit experience and internal audit presence) are the critical drivers of bank’s performance in Africa. Findings imply that banks with board members experts in accounting and auditing with the support of experienced professional internal auditors and disclosed corporate governance mechanisms reduce the chances of bankruptcy. The study is one of the few studies that provide insights into internal audit quality and corporate governance mechanisms on the performance of banks in Africa, implying that the findings do not only add to the literature bu...

Journal of Entrepreneurship and Business Innovation, 2018

Small businesses play significant role to the economic stability and development of emerging econ... more Small businesses play significant role to the economic stability and development of emerging economies, and access to financial services is crucial to their growth and performance. This study seeks to ascertain whether microfinance products such as loans, savings, insurance, and education effects small business growth in Ghana. The study uses descriptive and inferential statistics on responses of 248 small business owners for data analysis. Using a multiple linear regression analysis, the study found that all the microfinance product or services positively affects small business growth, and the greatest influence is micro loans. This study contributes massively to exact literature to the growth of microfinance institutions (MFIs) and small businesses in emerging economy, Ghana. The study can assist MFIs to assess the effectiveness of their product or services, and can also serves as a guide to an effective utilization of available scarce resources leading to growth of small business...

Journal of Applied Business and Economics, 2019

Journal of medical imaging and radiation sciences, 2021

Skyline view is routinely used for the evaluation of patellofemoral abnormalities in general prac... more Skyline view is routinely used for the evaluation of patellofemoral abnormalities in general practitioner, orthopaedic and rheumatology patients but rarely forms part of the trauma radiographic series. A 16-year-old male was referred for an x-ray of the right knee after patellar dislocation following a football injury. The lateral view showed an osteochondral lesion in the lateral femoral condyle and a skyline was suggested to be performed. Despite the patient could manage only 70° of flexion from full extension, a skyline view was obtained by adapting the standard technique which revealed an avulsion fracture at the medial aspect of the patella. Advanced imaging is used for further evaluation when x-ray findings are equivocal, or as a management or intervention tool(s). But not every patient is referred for advanced imaging unless there is an informed clinical reason. Skyline view should therefore be performed as part of trauma knee radiographic series when it is clinically indicat...

This paper tests the portability of Altman’s (2000) Z-score model in predicting corporate failure... more This paper tests the portability of Altman’s (2000) Z-score model in predicting corporate failure of listed firms in an emerging market, Ghana. The study applies the model on financial statements of fifteen (15) firms listed on Ghana Stock Exchange (GSE) for 2013 fiscal year. The empirical result shows that 66.7 percent of the listed firms were misclassified as failed firms (Type II Error) and correctly classified 33.3 percent as success firms or safe zone firms. The study concludes that the Altman (2000) financial model is not portable in Ghana due to high type II error rate and this is calling more research for the use of non-financial models in predicting corporate failure in emerging markets. Keywords : Multiple Discriminant Analysis, Corporate failure, Altman Z-score, Listed firms, Ghana

Journal of the International Council for Small Business, 2021

This article examines the critical sustainable factors of micro-, small, and medium-sized enterpr... more This article examines the critical sustainable factors of micro-, small, and medium-sized enterprises (MSMEs) across the three sectors in Nigeria. We apply ordered logistic regression to estimate the success factors of manufacturing, retail services, and trade businesses in a developing country where three out of every five MSMEs are estimated to fail within five years of operation. Using a global validated prediction model, we find that the most critical sustainable factors among these sectors are capital, planning, and marketing skills. We conclude that entrepreneurs in the three sectors we examined need to start with adequate capital, have a specific plan, and have the ability and skills to market their products or services to increase their chances of success. MSMEs need to pay critical attention to these sustainable success factors to enhance their ability to grow, multiply, and replicate and also contribute to the attainment of the United Nations’ Sustainable Development Goals...

Journal of Small Business Strategy

World Journal of Entrepreneurship, Management and Sustainable Development

PurposeThis study contributes to answering the question, can critical success factors of small bu... more PurposeThis study contributes to answering the question, can critical success factors of small businesses in emerging markets advance United Nation (UN) Sustainable Development Goals (SDGs)? Specifically, this study aims to explore the critical factors contributing to the success of small businesses and ultimately the UN SDGs in the emerging market of Nigeria.Design/methodology/approachThe design is survey research testing the Lussier success vs failure prediction model for small businesses in Nigeria. The methodology includes a logistic regression model to better understand and predict the factors that contribute to success or failure using a data set of 201 small businesses in Nigeria.FindingsThe findings support the validity of the Lussier model (p = 0.000) in Nigeria as the model accurately predicted 84.4% of the small businesses as successful or failed with a high R-square value (R = 0.540). The most significant factors (t-values

Journal of African Business

This study tests the validity of Lussier model in predicting success or failure of small business... more This study tests the validity of Lussier model in predicting success or failure of small businesses in Ghana, Africa. The study uses logistic regression to analyze 101 failed and 107 successful small businesses. The results of the study support the model validity in Ghana and three variables (capital, economic timing, and marketing skills) were significant in predicting small businesses success or failure. The model also predicted 86.5% of the businesses accurately with a high R-square value. This study is the first to test the Lussier model in Africa and reinforces the validity of the Lussier model as a global success or failure prediction model that contributes to theory and practice. Implications for future and current entrepreneurs; government agencies that train, advice and assist small business owners; public policy makers; educators; suppliers; lenders; and consultants are presented.

EuroMed J. of Management

We examine the effects of gender on loan default in an emerging market context. Specifically, we ... more We examine the effects of gender on loan default in an emerging market context. Specifically, we investigate whether female borrowers are less risky to loan default than male counterparts. Using logit and 3,717 loan clients' dataset from a big financial institution in Sierra Leone over the period 2007 to 2014, we find that female is positively related to loan default but not statistically significant. This finding has implication on theory, practice and policy on loan default in emerging market context. This study's finding does not only contribute to an important but neglected area of research, but also practice and policy, due to the size, growth and impact of loan default in emerging markets.

International Business Research

This paper examines the nexus between behavioural bias and investment decisions in a developing c... more This paper examines the nexus between behavioural bias and investment decisions in a developing country context. Specifically, this study tests the effect of four behavioural biases (overconfidence, regret, belief, and “snakebite”) on investment decisions. Descriptive statistics and inferential statistics including multiple regression are used to examine the behavioural biases-investment decisions nexus. The study reveals that the four bias have a significant positive and robust relationship with investment decision making. The result also shows that the "snakebite" effect contributes more to the decision making, followed by belief bias then regret bias. Overconfidence bias, however, contributes the least effect on investment decisions. Our contribution confirms the prospect theory and that behavioural bias influences investment decisions in the developing country perspective.

EuroMed Journal of Management, 2019

This paper examines the nexus between government debt and private investment in developing market... more This paper examines the nexus between government debt and private investment in developing market, Ghana. Specifically, we examine the link between external debt, gross domestic product (GDP), net tax, inflation, domestic credit, exchange rate, interest rate, and constitutional government on private investment. We use time series data ranging from the period of 1975 to 2014. Augmented Dickey Fuller test, vector error correction model, and Granger causality are used to test co-integration, long run relationships and the short run relationships, respectively. We find that external debt, domestic credit and constitutional government are positively linked to private investment. GDP, net taxes, inflation, exchange rate, and interest rate are negatively related to private investment in the long run. Our contribution is that external debt crowds in private investment in the long run in the developing country perspective.

The study adopted quantitative research approach and descriptive research method to assess the im... more The study adopted quantitative research approach and descriptive research method to assess the impact of Audit committee on financial performance of banks listed on the Ghana Stock Exchange. Audit committee variables used were: Audit Committee Meetings, Audit Committee Size, and Audit fees. Financial performance was examined using Return on Asset (ROA) and Return on Equity (ROE). The researcher found that listed banks financial performance with respect to ROA was positively influenced by audit committee size and audit fees whilst ROE was negatively skewed by audit committee meetings. Though negative relations were found between ROA, ROE and some Audit committee variables as used in this study, the regression model used indicated that over 60% of variability in financial performance of the listed banks was due to Audit committee and fees.

International Journal of Business and Emerging Markets, 2020

This paper examines the relationship between financial leverage and performance of listed firms i... more This paper examines the relationship between financial leverage and performance of listed firms in an emerging market, Ghana. Specifically, we examine the link between short-term, long-term and total debts on performance. We use data of 190 firm-year observations from 19 listed firms over a period of ten years (2005-2014). Fixed and random effects regression models are used to examine the financial leverage-corporate performance nexus. The result shows that total debt to total assets is negatively related to accounting and market performance. Short-term debt to total assets is also negatively related to return on assets and Tobin's Q but not return on equity. The long-term debt to total assets is negative and insignificantly related to corporate performance. Our contribution is that; short-term debt diminishes shareholder value in the developing economy context.

EuroMed Journal of Management, 2020

We investigate the factors and investment preferences that influence University workers in the Su... more We investigate the factors and investment preferences that influence University workers in the Sub-Saharan Africa region, Ghana. Using a logit and data set of 350 workers; our results show that liquidity, risk attitude, age, gender, educational level, and monthly income have an insignificant effect on investment decisions. Other factors such as safety of principal, high return, and marital status contribute significantly to investment decisions; and the most preferred investments were Treasury bill, share, fixed deposit, and real estate. This study's findings do not only contribute to an important but neglected area of research, but also policy, theory, and practice on investment and behavioural finance of universities in Africa.

African Journal of Accounting, Auditing and Finance

This study examines whether the transition of local GAAP to IFRS affects listed firms in the sub-... more This study examines whether the transition of local GAAP to IFRS affects listed firms in the sub-Saharan Africa region. Using binary logistic regression on the dataset from Ghana, we find that profitability and liquidity reduced during the official adoption fiscal year of IFRS but not, earning management. We also find that growth and leverage increase during financial reportage for the post-adoption period of IFRS. We conclude that the adoption of IFRS leads to more value relevant accounting measures in developing country context. Our study is one of first of its kind to investigate the effect of pre-and-post adoption of IFRS in Ghana using accounting measures, implying the study’s finding does not only contribute to the literature, but also policy and practice.