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The focus of this study was to assess the effect of organizational ethical behavior on the financial performance of firms in Ghana. Researchers have expressed concerns about the ethical behavior of firms in Ghana with regards to its effect on financial performance. The findings of this study will add to the literature, from which those in the field of academia can continually refer. The return on assets, as an indicator for the financial performance of firms, was adopted as the dependent variable. Independent variables were good ethical behavior (GEB), corruption reduction (C), and nepotism reduction (N). A cross-sectional survey design was followed for primary data and firms’ financial records were sources of secondary data. Thirty (30) corporate firms registered on the stock market were selected for the study. A multiple regression analysis was conducted and findings presented in Tables and Figures. Results showed that firms’ adherence to ethical principles of conducting business stand the chance of increasing their financial performance up to 45.0, 38.4, and 43.7 % by unit increases in GEB, and decreases in C, and N respectively. All independent variables had positive correlations with the financial performance of firms studied (GEB, 0.349; C, -0.503; N, -0.680). On firms’ financial performance, the ROA of firms, according to findings is positively and strongly correlated to their adherence to ethical business standards. Based on these findings, the study recommends that corporate firms pay more attention to practices that enhance good ethical behavior through the implementation of ethics policies, and reduce or eradicate nepotism to increase their chances of performing better financially. In addition, firms should ensure gender equality and equity, employee training on ethical standards of work, and encouragement of ethical leadership. Keywords: Ethical behavior, Financial Performance, Organization, Listed companies. DOI: 10.7176/EJBM/13-14-10 Publication date:J

The focus of this study was to assess the effect of organizational ethical behavior on the financial performance of firms in Ghana. Researchers have expressed concerns about the ethical behavior of firms in Ghana with regards to its effect on financial performance. The findings of this study will add to the literature, from which those in the field of academia can continually refer. The return on assets, as an indicator for the financial performance of firms, was adopted as the dependent variable. Independent variables were good ethical behavior (GEB), corruption reduction (C), and nepotism reduction (N). A cross-sectional survey design was followed for primary data and firms’ financial records were sources of secondary data. Thirty (30) corporate firms registered on the stock market were selected for the study. A multiple regression analysis was conducted and findings presented in Tables and Figures. Results showed that firms’ adherence to ethical principles of conducting business stand the chance of increasing their financial performance up to 45.0, 38.4, and 43.7 % by unit increases in GEB, and decreases in C, and N respectively. All independent variables had positive correlations with the financial performance of firms studied (GEB, 0.349; C, -0.503; N, -0.680). On firms’ financial performance, the ROA of firms, according to findings is positively and strongly correlated to their adherence to ethical business standards. Based on these findings, the study recommends that corporate firms pay more attention to practices that enhance good ethical behavior through the implementation of ethics policies, and reduce or eradicate nepotism to increase their chances of performing better financially. In addition, firms should ensure gender equality and equity, employee training on ethical standards of work, and encouragement of ethical leadership. Keywords: Ethical behavior, Financial Performance, Organization, Listed companies. DOI: 10.7176/EJBM/13-14-10 Publication date:J

The study assesses the relationship between corporate social responsibility (CSR) and organizational performance of the companies listed on Ghana Stock Exchange (GSE). It further investigates the mediating effects of employee satisfaction on the relationship between CSR and OP. The survey data was collected from 246 responses, comprising junior and senior staff, senior level managers who are in charge of the day-to-day running of the companies and they are in the position to provide adequate and sufficient information with regards to the companies. A SmartPLS (version 3.2.3) was used to analyse the data. The findings of the study show that CSR activities significantly and positively influence organizational performance. This influence is found to be pronounced especially when CSR activities are deliberately exercised toward internal stakeholders. A positive relationship was found between CSR and ESAT, while ESAT also influence OP positively.

This study aimed at examining the impact of management accounting practices on performance of manufacturing firms in Ghana. The study use a quantitative research approach and data was collected from 200 manufacturing firm’s managers who were selected by means of the probability simple random sampling technique The Statistical Package for the Social Sciences (SPSS), version 18.0, was used to analyze data. Regression analysis was undertaken in order to check the association between management accounting practices and performance The study results shows that costing system, budgetary system, performance evaluation system, strategic management and information for decision making are the key management accounting practices mostly adopted by manufacturing firms in Ghana and these management account practices positively influences the performance of manufacturing firms in Ghana. The study then recommends that most of these management accounting practices has to be adhered to if managers want to increase performance. Keywords: Management Accounting Practices, Costing System, Budgeting System, Strategic analysis, Performance, Ghana DOI: 10.7176/RJFA/11-17-13 Publication date:October 31st 2020

This study aimed at examining the impact of management accounting practices on performance of manufacturing firms in Ghana. The study use a quantitative research approach and data was collected from 200 manufacturing firm’s managers who were selected by means of the probability simple random sampling technique The Statistical Package for the Social Sciences (SPSS), version 18.0, was used to analyze data. Regression analysis was undertaken in order to check the association between management accounting practices and performance The study results shows that costing system, budgetary system, performance evaluation system, strategic management and information for decision making are the key management accounting practices mostly adopted by manufacturing firms in Ghana and these management account practices positively influences the performance of manufacturing firms in Ghana. The study then recommends that most of these management accounting practices has to be adhered to if managers want to increase performance. Keywords: Management Accounting Practices, Costing System, Budgeting System, Strategic analysis, Performance, Ghana DOI: 10.7176/RJFA/11-17-13 Publication date:October 31st 2020

This study aimed at examining the impact of management accounting practices on performance of manufacturing firms in Ghana. The study use a quantitative research approach and data was collected from 200 manufacturing firm’s managers who were selected by means of the probability simple random sampling technique The Statistical Package for the Social Sciences (SPSS), version 18.0, was used to analyze data. Regression analysis was undertaken in order to check the association between management accounting practices and performance The study results shows that costing system, budgetary system, performance evaluation system, strategic management and information for decision making are the key management accounting practices mostly adopted by manufacturing firms in Ghana and these management account practices positively influences the performance of manufacturing firms in Ghana. The study then recommends that most of these management accounting practices has to be adhered to if managers want to increase performance. Keywords: Management Accounting Practices, Costing System, Budgeting System, Strategic analysis, Performance, Ghana DOI: 10.7176/RJFA/11-17-13 Publication date:October 31st 2020

Innovation plays a key role in the success of businesses the world over. The purpose for this study is to explore the mediating role of job customer satisfaction in the relationship between service innovation and organisational performance. Data for the study was obtained from 450 commercial bank customers in Ghana using structured questionnaire. The PLS-SEM was the main analytical tool used to analyse the research findings via AMOS 22. Findings from this study revealed a positive and significant relationship between service innovation and organizational performance. Additionally, the study revealed that customer satisfaction was found to have positive and significant effect on organisational performance. However, there was no significant relationship between service innovation and customer satisfaction in this study. The study contributes to existing literature on service innovation from a developing country context. The implications for the study are also discussed.

Funding: National Natural Science Foundation of China (No. 71371087) Abstract The news that two indigenous banks, UT and Capital Bank have been taken over by GCB Bank has come as a shock to many Ghanaians, as just a year ago, Capital Bank was adjudged the Best Growing Bank, and Best Bank in Deposits & Savings at the15th Edition of Ghana Banking Awards while UT Bank was adjudged best bank in 2011 by the same institution. UT bank is one of Ghana’s most celebrated brands, after it evolved from a micro-finance company into a successful bank.The study reveals the weak compliance to common Corporate Governance practices within the two banks. Specifically, the two banks had small board size as compared to the standard size of the banking industry. Also, the boards did not have enough committees to discharge its operation. The independence of the boards was also impaired as in most of the directors are executives and the non-executive directors have a close relationship with the promoters and executives. Keywords: Corporate Governance, Collapse, Commercial Banks, Board of Directors DOI: 10.7176/RJFA/10-10-04 Publication date:May 31st 2019

The authors are thankful to the National Science Foundation of China (71371087) for the financial support. Abstract The fundamental aim of this study is to examine the relationship that exit between board structure and firm performance of non-financial Ghanaian listed companies. In order to achieve the objectives of the study, unique data were collected from a sample of 28 non-financial companies covering five financial year periods 2012-2017 was used and thereafter analysis done within panel data framework/multiple linear regression framework. The variables such as CEO duality, CEO tenure, board size, board composition and its independence were considered as predictors of the firm performance that was measured employing accounting based performance measures such as the return on assets (ROA), return on equity (ROE) and EPS. I found board size to have a positively significant relationship with firm performance. Keywords: Corporate governance, Board composition, Block holder, CEO-duality, Firm performance DOI: 10.7176/RJFA/10-6-12 Publication date:March 31st 2019

This study examines the impact of board characteristics on Corporate Social Responsibility (CSR) disclosure in Ghana. It uses panel data covering 15 financial years which was extracted from the companies’ annual report to test the hypothesis using OLS regression. The results provide evidence that board characteristics such as size, board independence, board members below age 40, foreign nationals on board and gender diversity has a positive and significant impact on the CSR disclosure in Ghana. Board size recorded a negative and significant impact on CSR disclosure while women as board chairperson recorded no significant impact on CSR disclosure. In terms of structural break, the results indicate that, there is no structural break at 1% and 5%. However, at 10%, there is structural break. Based on these findings, the study recommends that, board size should be made up of minimum of 5 and maximum of 9. Again, there should be gender diversity, more independent directors, foreign nationals and younger board members below age 40 to ensure effectiveness and full disclosure of CSR in listed companies in Ghana.

This study examines the impact of board characteristics on Corporate Social Responsibility (CSR) disclosure in Ghana. It uses panel data covering 15 financial years which was extracted from the companies’ annual report to test the hypothesis using OLS regression. The results provide evidence that board characteristics such as size, board independence, board members below age 40, foreign nationals on board and gender diversity has a positive and significant impact on the CSR disclosure in Ghana. Board size recorded a negative and significant impact on CSR disclosure while women as board chairperson recorded no significant impact on CSR disclosure. In terms of structural break, the results indicate that, there is no structural break at 1% and 5%. However, at 10%, there is structural break. Based on these findings, the study recommends that, board size should be made up of minimum of 5 and maximum of 9. Again, there should be gender diversity, more independent directors, foreign nationals and younger board members below age 40 to ensure effectiveness and full disclosure of CSR in listed companies in Ghana.

Funding: National Natural Science Foundation of China (No. 71371087) Abstract The news that two indigenous banks, UT and Capital Bank have been taken over by GCB Bank has come as a shock to many Ghanaians, as just a year ago, Capital Bank was adjudged the Best Growing Bank, and Best Bank in Deposits & Savings at the15th Edition of Ghana Banking Awards while UT Bank was adjudged best bank in 2011 by the same institution. UT bank is one of Ghana’s most celebrated brands, after it evolved from a micro-finance company into a successful bank.The study reveals the weak compliance to common Corporate Governance practices within the two banks. Specifically, the two banks had small board size as compared to the standard size of the banking industry. Also, the boards did not have enough committees to discharge its operation. The independence of the boards was also impaired as in most of the directors are executives and the non-executive directors have a close relationship with the promoters and executives. Keywords: Corporate Governance, Collapse, Commercial Banks, Board of Directors DOI: 10.7176/RJFA/10-10-04 Publication date:May 31st 2019

The authors thank the National Science Foundation of China (71371087) for the financial support. Abstract Global crises and scandals in the past decades triggered interest in corporate governance, resulting in an increasingly growing regulatory environment, which would lead to more effective corporate governance and improved performance. Thus, the fundamental aim of this study is to examine the relationship between board structure and firm performance among non-financial Ghanaian listed companies. Therefore, to achieve the study's objectives, we collected data on a sample of 28 non-financial companies listed on the Ghana stock exchange (GSE) covering six financial year periods, 2012-2017. The variables such as board size, board composition, CEO duality, and CEO tenure were considered predictors of firm performance. We measured firm performance by employing accounting-based performance measures such as the return on assets (ROA), return on equity (ROE), and earnings per share (EPS) as proxies and, after that, using a multiple regression analysis within a balanced panel data framework. The results confirm that the three predictor variables revealed a significant positive impact on firm performance in Ghanaian listed companies. Based on the study's findings, we consider the study as offering several managerial policy implications that can be helpful to corporate boards, regulators, and practitioners championing the smooth course of corporate governance and firm performance. Keywords: Corporate governance, Board structure, firm performance, and non-financial listed companies. DOI: 10.7176/RJFA/10-6-12 Publication date:March 31st 2019

This study examines the impact of board characteristics on Corporate Social Responsibility (CSR) disclosure in Ghana. It uses panel data covering 15 financial years which was extracted from the companies’ annual report to test the hypothesis using OLS regression. The results provide evidence that board characteristics such as size, board independence, board members below age 40, foreign nationals on board and gender diversity has a positive and significant impact on the CSR disclosure in Ghana. Board size recorded a negative and significant impact on CSR disclosure while women as board chairperson recorded no significant impact on CSR disclosure. In terms of structural break, the results indicate that, there is no structural break at 1% and 5%. However, at 10%, there is structural break. Based on these findings, the study recommends that, board size should be made up of minimum of 5 and maximum of 9. Again, there should be gender diversity, more independent directors, foreign nationals and younger board members below age 40 to ensure effectiveness and full disclosure of CSR in listed companies in Ghana.

Funding: National Natural Science Foundation of China (No. 71371087) Abstract The news that two indigenous banks, UT and Capital Bank have been taken over by GCB Bank has come as a shock to many Ghanaians, as just a year ago, Capital Bank was adjudged the Best Growing Bank, and Best Bank in Deposits & Savings at the15th Edition of Ghana Banking Awards while UT Bank was adjudged best bank in 2011 by the same institution. UT bank is one of Ghana’s most celebrated brands, after it evolved from a micro-finance company into a successful bank.The study reveals the weak compliance to common Corporate Governance practices within the two banks. Specifically, the two banks had small board size as compared to the standard size of the banking industry. Also, the boards did not have enough committees to discharge its operation. The independence of the boards was also impaired as in most of the directors are executives and the non-executive directors have a close relationship with the promoters and executives. Keywords: Corporate Governance, Collapse, Commercial Banks, Board of Directors DOI: 10.7176/RJFA/10-10-04 Publication date:May 31st 2019

The authors thank the National Science Foundation of China (71371087) for the financial support. Abstract Global crises and scandals in the past decades triggered interest in corporate governance, resulting in an increasingly growing regulatory environment, which would lead to more effective corporate governance and improved performance. Thus, the fundamental aim of this study is to examine the relationship between board structure and firm performance among non-financial Ghanaian listed companies. Therefore, to achieve the study's objectives, we collected data on a sample of 28 non-financial companies listed on the Ghana stock exchange (GSE) covering six financial year periods, 2012-2017. The variables such as board size, board composition, CEO duality, and CEO tenure were considered predictors of firm performance. We measured firm performance by employing accounting-based performance measures such as the return on assets (ROA), return on equity (ROE), and earnings per share (EPS) as proxies and, after that, using a multiple regression analysis within a balanced panel data framework. The results confirm that the three predictor variables revealed a significant positive impact on firm performance in Ghanaian listed companies. Based on the study's findings, we consider the study as offering several managerial policy implications that can be helpful to corporate boards, regulators, and practitioners championing the smooth course of corporate governance and firm performance. Keywords: Corporate governance, Board structure, firm performance, and non-financial listed companies. DOI: 10.7176/RJFA/10-6-12 Publication date:March 31st 2019

This paper examined the existence of internal control systems in four (4) government departments located in the central business district of Accra, Ghana. The internal control elements examined included Control environment, Communication and information, Risk Assessment, Monitoring, Control Activities and the functions of the Internal Audit unit, as an agent of good governance, accountability and commitment to ensuring reliable financial reporting. Structured questionnaires were administered to a non-probability sample of 100 respondents from the Administrative department, Finance, Internal Audit, Human resources and other departments. Internal control system was measured using the six elements of the COSO internal control framework developed in 2002. Secondary data was captured from the Auditor General’s report on public accounts and analysed using the Statistical Package for Social Scientist (SPSS) and STATA to establish the relationship between the dependent and independent variables based on the research hypothesis. The statistical techniques deployed were regression and correlation. The study concluded that indeed there are significant relationships between internal control systems and effective public sector financial management. The study recommended an independent private audit of all public accounts to supplement the effort of government appointed Auditor General in order to guarantee assurance and transparency. Departments and ministries must practice inter-departmental monitoring to ensure due diligence and reward for outstanding performance. Keywords: Transparency, COSO Internal Control framework, Compliance, Financial irregularities, Public Sector Efficiency.

This paper investigates a number of critical determinants of auditor’s independence in handling public sector accounts and the necessity to act in a professional fashion to guarantee transparency of public sector accounting. The study contribute to knowledge regarding the increasing financial irregularities and lack of due diligence in the application of public resources, critical evaluation of the link between internal control systems and independent auditing for the sake of objectivity and good governance. The study employed the Chi-square goodness of fit test with the help of SPSS and STATA software to determine the degree of association, correlation coefficient and the degree of independence between the dependent and independent variables selected for the analyses. A total of 200 participants were purposively drawn from the Ministry of Finance of Ghana for the study. Measuring the variables for association, the Pearson Chi-Square test confirmed significant relationships at a level of {P<0.000<0.05}, statistically implies that the alternate hypothesis be accepted with further justification from the high Ch-Square test values for each independent variable measured . There is a high possibility that certified and qualified auditors can act in a professional fashion without external influence as implied by; [ (184.856), p-value <0.05, df: 1]. Public Scrutiny can ensure due diligence by auditors as indicated in = 179.541 at a significant level of p< 0.001. The role of internal audit is critical is ensuring transparency at =193.430 and a significant level of p<0.002<0.05. The contribution by the board is equally significant at p<0.000 indicating the relevance of their existence in every organisation. The study therefore came to a conclusion that sensitive information regarding the public sector be made known to stakeholders for scrutiny particularly issues with long and short term financial implications . In order to ensure transparency and obj

This paper investigates a number of critical determinants of auditor’s independence in handling public sector accounts and the necessity to act in a professional fashion to guarantee transparency of public sector accounting. The study contribute to knowledge regarding the increasing financial irregularities and lack of due diligence in the application of public resources, critical evaluation of the link between internal control systems and independent auditing for the sake of objectivity and good governance. The study employed the Chi-square goodness of fit test with the help of SPSS and STATA software to determine the degree of association, correlation coefficient and the degree of independence between the dependent and independent variables selected for the analyses. A total of 200 participants were purposively drawn from the Ministry of Finance of Ghana for the study. Measuring the variables for association, the Pearson Chi-Square test confirmed significant relationships at a level of {P<0.000<0.05}, statistically implies that the alternate hypothesis be accepted with further justification from the high Ch-Square test values for each independent variable measured . There is a high possibility that certified and qualified auditors can act in a professional fashion without external influence as implied by; [ (184.856), p-value <0.05, df: 1]. Public Scrutiny can ensure due diligence by auditors as indicated in = 179.541 at a significant level of p< 0.001. The role of internal audit is critical is ensuring transparency at =193.430 and a significant level of p<0.002<0.05. The contribution by the board is equally significant at p<0.000 indicating the relevance of their existence in every organisation. The study therefore came to a conclusion that sensitive information regarding the public sector be made known to stakeholders for scrutiny particularly issues with long and short term financial implications . In order to ensure transparency and obj

This paper examined the existence of internal control systems in four (4) government departments located in the central business district of Accra, Ghana. The internal control elements examined included Control environment, Communication and information, Risk Assessment, Monitoring, Control Activities and the functions of the Internal Audit unit, as an agent of good governance, accountability and commitment to ensuring reliable financial reporting. Structured questionnaires were administered to a non-probability sample of 100 respondents from the Administrative department, Finance, Internal Audit, Human resources and other departments. Internal control system was measured using the six elements of the COSO internal control framework developed in 2002. Secondary data was captured from the Auditor General’s report on public accounts and analysed using the Statistical Package for Social Scientist (SPSS) and STATA to establish the relationship between the dependent and independent variables based on the research hypothesis. The statistical techniques deployed were regression and correlation. The study concluded that indeed there are significant relationships between internal control systems and effective public sector financial management. The study recommended an independent private audit of all public accounts to supplement the effort of government appointed Auditor General in order to guarantee assurance and transparency. Departments and ministries must practice inter-departmental monitoring to ensure due diligence and reward for outstanding performance. Keywords: Transparency, COSO Internal Control framework, Compliance, Financial irregularities, Public Sector Efficiency.

This paper examined the existence of internal control systems in four (4) government departments located in the central business district of Accra, Ghana. The internal control elements examined included Control environment, Communication and information, Risk Assessment, Monitoring, Control Activities and the functions of the Internal Audit unit, as an agent of good governance, accountability and commitment to ensuring reliable financial reporting. Structured questionnaires were administered to a non-probability sample of 100 respondents from the Administrative department, Finance, Internal Audit, Human resources and other departments. Internal control system was measured using the six elements of the COSO internal control framework developed in 2002. Secondary data was captured from the Auditor General’s report on public accounts and analysed using the Statistical Package for Social Scientist (SPSS) and STATA to establish the relationship between the dependent and independent variables based on the research hypothesis. The statistical techniques deployed were regression and correlation. The study concluded that indeed there are significant relationships between internal control systems and effective public sector financial management. The study recommended an independent private audit of all public accounts to supplement the effort of government appointed Auditor General in order to guarantee assurance and transparency. Departments and ministries must practice inter-departmental monitoring to ensure due diligence and reward for outstanding performance. Keywords: Transparency, COSO Internal Control framework, Compliance, Financial irregularities, Public Sector Efficiency.