Financial Literacy and Financial Inclusion for Small-Scale Enterprises in Sunyani Municipality in the Brong -Ahafo Region of Ghana (Published)
This study sought to examine the relationship between financial literacy and financial inclusion among owners/managers of SSEs in the Sunyani Municipality. Primarily, the research examined the financial literacy level, the extent of financial inclusion, and the relationship between financial literacy and financial inclusion for SSEs in Sunyani Municipality, which was necessary for their business. The study’s objective employed primary data and used a mixed method approach as well as a descriptive design survey design to randomly sample 230 owners/managers from five categories of SSEs in the Sunyani Municipality. The findings revealed that managers with high financial literacy were more likely to have sound judgment about financial issues, make the right decision among financial alternatives, and have sound personal finance practices. In addition, it was found that the extent of financial inclusion depended mainly on SSEs’ knowledge levels of financial products/services. The positive outcomes of being financially literate and financially inclusive were driven by behaviour such as planning expenditures and building up a financial safety net. Since financial literacy is necessary for business financial inclusiveness, it was recommended to SSEs strive for financial knowledge to enable them to make good financial decisions and aid their financial inclusiveness. Again, any policy that aims at the growth and development of SSEs with adequate training and education to help increase their financial status which will affect their financial inclusion.
Citation: Ameyaw M. (2022) Financial Literacy and Financial Inclusion for Small-Scale Enterprises in Sunyani Municipality in the Brong -Ahafo Region of Ghana, International Journal of Business and Management Review, Vol.10, No. 8, pp.61-74
The purpose of the study was to investigate the effect of interest rate spread on economic growth using annual time series data from 1975 to 2018. The study used the Engel-granger two-step procedure which uses the OLS technique to establish both the long-run and short-run relationships between interest rate spread and economic growth. The study established that interest rate spread is a statistically important determinant of economic growth but it has a negative impact in the long-run. Also, the result shows that labour force, capital stock, and exports affect economic growth in Ghana positively both in the long-run and short-run. However, government expenditure appeared not to be a statistically significant factor in determining economic growth in Ghana. Policy actions that ensure macroeconomic stability should be embarked upon to achieve stability and sustainable growth of the economy. Export promotion, investment opportunities as well as producing active labour force should be given a priority.
This paper critically reviews current conceptualisations of Corporate Social Responsibility (CSR) in Ghana to highlight trends and key developments in both research and practice. A systematic literature review (SLR) methodology was conducted to provide a synthesised analysis of sixty-one (61) academic papers published on CSR in Ghana from 2007 to 2020. The empirical-based review established that contemporary CSR in Ghana is framed within the context of development and reflects voluntary corporate self-regulation. Also, CSR has become increasingly integral to business due to corporate reforms, globalisation and greater awareness for sustainable business practices. The results further revealed that firm-related drivers serve as key determinants of responsibility practices. In addition, contributions to CSR in social spaces and academic scholarship have spearheaded the growth of CSR in Ghana. The growing interest in CSR as a management practice in Ghana requires a comprehensive literature study to highlight current status and future directions. This is the first study to systematically review CSR research in Ghana to provide an account of contemporary notions of the concept. The study adds value to the existing limited body of knowledge on literature reviews and also makes practical recommendations for the implementation of effective CSR programmes.
Citation: Mavis Amo-Mensah (2021) Corporate Social Responsibility in contemporary Ghana: A literature Review, International, Journal of Business and Management Review, Vol.9, No.5, pp.78-93
Sale of Loans and Credit Risk Management Practices of Savings and Loans Companies: Evidence from an Emerging Economy (Published)
The current study assessed the credit risk management practices of saving and loans companies in the Sunyani Municipality of the Bono region of Ghana. With a positivist paradigm, the study adopted a descriptive research design. Using purposive sampling method, a sample size of fifty seven (57) respondents was utilized. The study revealed a strong and positive correlation between credit risk management and financial performance of the savings and loans companies. Erratic policy rates were found to have negative impact on the operations and profitability of the companies. The study recommends robust supervision and strict adherence to sound credit management practices for sustainability and profitability of the savings and loans companies.
The Role of Micro Insurance on Poverty Reduction: A Study of Insurance Companies in Ghana (Published)
Purpose- The purpose of this paper to investigate, explore and assess the role of Micro-insurance in poverty reduction Design/ methodology/approach- This paper is a qualitative analysis based on three case studies. Non-probability sampling techniques are used for choosing the unit of analysis which resulted in 4 firms (4 managers). Also, data were collected via a questionnaire and an in-depth interview. Findings- The study identified that Micro-insurance provides financial support to the poor in the event of a disaster, social protection against disasters and shocks, savings, employment, and as well as enhances asset accumulation among clients. The study found that the lack of innovative micro-insurance product, inadequate distribution channels, the lack of supportive micro-insurance legal framework, uncompetitive pricing of micro-insurance products, low government support in micro-insurance programs, low-income levels of respondents, the religious or cultural factors influence the demand of insurance products and low public trust are the factors that affect the demand of micro-insurance products. Also, the study found that the development of innovative products, establishing processes that build trust in clients, instituting efficient service delivery channels, documentation should be simplified and the government should support micro-insurance products are the ways to increase patronage of micro-insurance products.Research limitations- the sample size is still limited and in the future, a quantitative analysis should be used. The study is limited in terms of geographical area. The findings of the study are more likely to hold for another Sub-Saharan context. However, the applicability of these findings to other contexts needs further investigation. Originality/value- while interest in micro-insurance is increasing in emerging markets, there is little known and written on micro-insurance. Therefore, the role of micro-insurance has not been explored so far.
The study empirically investigated how employees’ perception of interpersonal trust at work affects the extent to which they go beyond formally prescribed roles, Organizational Citizenship Behaviour (OCB). The survey design was employed for the study. Two dimensions of interpersonal trust at work (Trust in co-workers and trust in Management) and OCB were studied. Social Exchange Theory was utilized in describing potential relationships between trust and citizenship behaviour. Data were obtained from 152 employees randomly sampled from various organizations and analyzed using Pearson’s r and multiple regression analysis, and the hypotheses were tested at .05 and .01 levels. The major findings of the study suggested that employees’ interpersonal trust at work significantly influences their discretionary behaviour. A very vital finding was that employees’ trust in co-workers influenced their organizational citizenship behaviour more than their trust in management. Understanding personal and organisational factors associated with OCB have important implications for the training, and development of employees to facilitate the smooth operation of any organization. There is paucity of published studies in Ghana on how interpersonal variables, such as trust, affect employees’ work attitude and behaviour as well as organisational outcomes. This study is therefore very invaluable in providing insight into the Ghanaian context in this area.
THE MODERATION EFFECT OF MANAGERIAL STATUS ON WORK-FAMILY CONFLICT-TURNOVER INTENTION RELATIONSHIP (Published)
We examined the extent to which managerial status moderated the relationship between work-family conflict and turnover intention among employees in the Ghanaian banking sector. Predictive correlational design was used. One hundred and twenty-one (n=121) participants were sampled conveniently for the study. Reliable questionnaires were adopted for the study. All the scales were confirmed reliable following pilot study. Moderated hierarchical regressions analysis was performed to test the hypothesis in the study. Pearson correlation test was performed to satisfy the assumption underlying the use of moderation test. We also centred the moderator and independent variables to reduce the effect of multicollinearity. The analyses showed that work-family conflict significantly and positively predicted employee’s intention to leave their current organization. It was also observed that, managerial status significantly moderated the predictive relationship between work-family conflict and turnover intentions. The findings have significant implications on role and spill over theories of work-family conflict as well as on the management of organizations in contemporary times. The implications and limitations of the findings have been discussed
PLANNING CORPORATE POST-ACQUISITION INTEGRATION: APPLICATION OF SOCIAL PENETRATION THEORY AND MANAGERIAL IMPLICATIONS (Published)
This paper examines the concept of corporate merger and acquisitions within the Ghanaian business environment. It draws on social penetration theory to provide framework for guiding the planning and implementation of the post-acquisition relationship building. The premise of this paper is that people are the most important component of organizations. However, the memoranda of understanding (MOUs) signed in corporate boardrooms tend to focus more on the asset transfer and pay little attention to the human component. This situation has the tendency to undermine the achievement of the financial objective. As a result, relationship building efforts aimed at assimilating the workforce of both firms is more likely to be a key driver of the success of the post-acquisition integration. In applying the social penetration theory for integration, the dynamics, key issues, and managerial implications are discussed.