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This study examined the relationship between corporate governance attributes, firm-specific characteristics, and financing decisions of listed firms in Ghana using panel data for a nine-year time frame spanning 2011 to 2019. The study adopted multivariate regression analysis using Prais-Winsten regression, correlated panels corrected standard errors (PCSEs). The findings show that corporate board structures in Ghana play a significant role in influencing the financing decisions of listed firms on the Ghana Stock Exchange. Specifically, corporate boards with bigger sizes and more female representation prefer more debt financing of their assets. Also, the findings provide support for the Pecking Order Theory and identifiable firm-specific determinants offinancing decision of listed firms. The evidence provided by this study is robust to alternative estimators. The outcome of this study further provides strong policy support for enforcing proper corporate governance features and gender diversity dimensions for corporations in Ghana. Key words: Corporate governance, capital structure, gender diversity, Ghana., Introduction Corporate governance continues to generate deep discourse in both the corporate and academic spheres owing to the implications of bad corporate governance practices on firm performance. Anecdotal evidence points [...]

Social capital concept has become popular over the past decades. What is not known in literature and worth investigating is the network designs and nature that enhance the development of new learning ideas and knowledge creation. The aim of the paper is to examine network structure dimensions, namely centrality (bonding) and structural holes (bridging or looser ties) of social capital formed within higher education networks that stimulate the development of new ideas and knowledge creation of the participants in the networks across multiple domains of science. This study employs negative binomial regression on a sample of participants within a higher education network to predict the development of new ideas and knowledge creation. The results show that the different features of social capital dimensions influence the development of new ideas and knowledge creation of the participants in the networks differently. Specifically, the study reveals that the brokerage network appears to be more relevant than cohesion in the Ghanaian higher education institution networks. When knowledge creation is decomposed into different fields of science, Health Science is found to be the most productive. The decomposing of the knowledge creation into different fields of science remains a value of this study.

The present study evaluates the market structure of Ghana's banking industry and estimates the nature and degree of competition. This study uses non-structural methodology proposed by Panzar-Rosse Model known as 'H-statistic' to empirically assess competitiveness in the Ghanaian banking market. The study uses 23 banks in Ghana from 2000 to 2019, compiled and reported by Ghana Association of Bankers (GAB). The study results revealed that from 2000 to 2019, after various structural reforms including the implementation of the FINSAP, competition in the Ghanaian banking sector increased. In general, the study results show that banks in Ghana derive their revenue in the monopoly market conditions. Specifically, the finding further suggests that whereas monopolistic competition is found for the listed banks, monopoly conditions are found in non-listed banks. Managerially, the presence of a monopoly adds to the call for managers of the banks to consider factor input prices in an attempt to generate more revenues. In terms of policy, pro-structural shift policies that will help with the transition from a monopoly structure to a perfect competition or contestable market structure should be rigorously pursued by the policymakers. This study, therefore, adds to the existing literature on investment management research, notably banking, in a developing country, i.e. Ghana. The results have implications for the management of banks, governments and regulators. This shows the need for pro-structural shift policies that improve competition. Keywords Banking competition, Panzar-Rosse method, Ghana, 1. Introduction There is a growing body of banking literature that recognizes the importance of competition and its estimation techniques. The banking sector's fast deregulation, privatization and liberalization across developing [...]

This study investigates the herding behavior of Ghana stock market participants and its impact on stock returns. Using panel data of 38 equities listed on the Ghana stock market, the data spans from 2011 to 2019. Fixed effect model was used for all estimations. Overall, the study results failed to indicate evidence of herding behavior in the Ghana stock market. This result further indicates that at low levels, the market participants herd but at higher levels, there is the absence of herding behavior. In bull market conditions, market participants act in unison only at high levels. The result validates the assumption of the rational asset pricing model. [ABSTRACT FROM AUTHOR]

The present study empirically examines whether banks operating within Africa concentrate or diversify their incomes and loan portfolios and how these decisions affect their stability. The present study uses Generalized Methods of Moments (GMM) as the econometric tool in carrying out the analysis. The study shows that banks in Africa are relatively stable and well diversified. However, income diversification strategies do not enhance banks' stability. Loan portfolio concentration guarantees a reduction in bank credit risk and boosts stability. Overall, loan portfolio concentration is therefore more important for stability than income diversification among banks in Africa. [ABSTRACT FROM AUTHOR]