ESG and Firm Performance: Evidence from Selected Countries in Europe

The 2008 financial crisis highlighted the need for ESG disclosure in corporate reporting. Yet there has been inconclusive evidence about its relationship with firm performance. This research investigated the relationships among Environmental, Social, and Governance (ESG) factors and firm performance in Europe. This study seeks to understand how firm performance affects ESG ratings and how ESG ratings impact firm performance. Panel data analysis was employed to analyse data of listed companies from the selected countries in Europe (Germany, United Kingdom, Italy, France, and Norway). The research findings indicate that there is no significant relationship between earnings per share (EPS) and ESG. Furthermore, there was a significant positive relationship between ESG and Market Value (Mcap). However, a significant negative relationship is observed between return on assets (ROA) and ESG, suggesting that firms investing in ESG may face challenges in generating sufficient returns on their assets due to the cost burden associated with ESG investments. For effective ESG implementation, policymakers and managers should prioritize cost reduction and profitability strategies

Decolonization of indigenous language media practice in Ghana: Myth or reality?

The marginalization of Ghanaian indigenous languages from the media space ceased in the 1990s when the airwaves were liberalized. This was not only a ground-breaking experience for diversification but also a way of getting the majority of the population informed, especially through radio, which is a comparatively accessible medium. However, indigenous language use for radio news broadcasts has come under intense criticism for the extensive use of embellishments like proverbs, which are believed to digress from foreign and acceptable news standards. Using content analysis of Ghanaian media policy documents, sampled news recordings from selected private FM radio stations, and semi-structured interviews with selected news professionals, this paper argues that Ghanaian indigenous language communication forms include embellishments and their accurate use presupposes an immense understanding of the language. Hence, indigenous languages cannot be adapted and appreciated wholesomely in the media space if aspects of it are downplayed

Microfinance and Small Loans Centre (MASLOC) as a Model for Promoting Micro and Small Enterprises (MSEs) in the Ashaiman Municipality of Ghana

The purpose of the research was to assess the possibility of using the Microfinance and Small Loans Centre (MASLOC) in Ghana as a model for the development of micro and small scale enterprises (MSEs). The study did this by assessing the contributions MASLOC has made to the development of MSEs. Data gathered from 96 beneficiary MSEs and three institutions revealed that loans from MASLOC have contributed to increasing the beneficiary MSEs’ working capital by 120.6%. The business advisory services offered by MASLOC to beneficiaries were identified to have improved the enterprises’ customer relations and attractions. All these have culminated into increases in earnings averaging 46.9%. The sustainability of MASLOC is however constrained by the high rate of default. The default rates for individual loans and group loans were 20% and 25% respectively. Overdue payments were estimated at 20% and 30% for individual loans and groups loans respectively. The study concludes that MASLOC should intensively monitor the MSEs in order to address the misapplications of the loans they take which will in turn reduce the rate of loan default. Keywords: Micro and Small Enterprises, Microfinance, MASLOC, employment, poverty reduction.

Fluorinated 2-Nitroimidazoles: Non-Invasive Probes for Detecting Therapeutically Relevant Tumour Hypoxia by Magnetic Resonance Spectroscopy

Tumour hypoxia is a well described phenomenon which is primarily created by an inadequate and non-uniform vascular network. Importantly, hypoxia within certain solid tumours has been linked to the failure of conventional therapy, including radiotherapy and chemotherapy. For this reason, many attempts have been made to identify, characterise, and quantify hypoxic cells within these tumours as a prelude to the design of rational therapies aimed to kill all the cancer cells present within tumours. The use of 2-nitroimidazoles containing appropriate labels as markers for the detection of hypoxic cells, is based on the ability of these compounds to undergo selective nitroreduction and adduct formation within hypoxic cells. The fluorinated 2-nitroimidazole, SR-4554, was rationally designed as a non-invasive hypoxia probe with low toxicity and high sensitivity for detection by magnetic resonance spectroscopy (MRS) and imaging (MRI). SR-4554 was demonstrated to be enzymatically reduced by mouse liver microsomes, SCCVII tumour homogenates and purified rat and human NADPH; cytochrome P450 reductase under hypoxia. In this regard, NADPH: cytochrome P450 reductase was found to be the major enzyme involved in this bioreduction of SR-4554. In a panel of murine and human tumour xenografts, only a 3 fold variation in NADPH: cytochrome P450 reductase activities was observed. These differences in NADPH: cytochrome P450 activities are unlikely to significantly influence SR-4554 adduct formation in vivo. Importantly, the reduction of SR-4554 by mouse liver microsomes showed a characteristic oxygen dependence with a half- maximal inhibition of 0.48%. Using a high resolution nuclear magnetic resonance (NMR) technique, soluble hypoxia-dependent metabolites of various fluorinated 2-nitroimidazoles, including SR-4554, were identified. The chemical shifts of these metabolites were found to be less than those required to give resolved peaks in in vivo MRS studies. Determination of the possible regions of SR-4554 adduct formation within A2780 human ovarian multicellular spheroids was achieved by electron energy loss spectroscopic imaging. Using this technique, an 8 fold differential between the fluorinated probe levels retained in the inner hypoxic regions of the spheroid vs the outer more aerobic regions was observed. SR-4554 was localised mainly to the nuclear periphery, nucleus and cytoplasm within cells from the hypoxic region of the spheroids. The toxicity and pharmacokinetics of SR-4554 was studied in mice as a prelude to non-invasive MRS/MRI studies. SR-4554 was found to be non-toxic in mice up to a dose of 1300 mg/kg. Pharmacokinetics of SR-4554 fitted either a one compartment or two compartment open model depending on the route of administration. The probe was characterised by a relatively short half-life, linear kinetics, high urinary excretion, high oral bioavailability and low plasma protein binding. Importantly, the brain to plasma ratio of SR-4554 was lower than previously reported trends in the literature, thus confirming its potentially low toxicity. As a consequence of the low toxicity and favourable pharmacokinetic properties of SR-4554, a non-invasive multi-tuned 19F MRS technique was implemented to detect this compound in tissues. Using this MRS technique, SR-4554 was found to be selectively retained in both murine and human tumour xenografts. Importantly the 19F retention index was found to correlate with the reported radiobiological hypoxic fraction of the tumours used. This 19F retention index was also found to be higher in larger tumours but, interestingly, did not correlate with the bioenergetic status of the tumours, as determined by 31P MRS. Manipulation of tumour microenvironment to affect the degree of hypoxia within these tumours was studied in vivo. In mouse tumours for instance, the 19F retention index increased 2 fold compared to control values, following hydralazine pre-treatment, and decreased by 6 fold compared to control values, following carbogen breathing. Important to the clinical development of SR-4554, 19F MRI techniques showed localisation of SR-4554 in the bladder, tumour and liver of mice. This technique was, however, limited by low sensitivity due to the extremely short transverse relaxation, time of the probe in tissues. Finally this thesis has demonstrated that SR-4554 has suitable metabolic, pharmacological and MRS properties for its use in the quantification of critical levels of hypoxia within human tumours. As a consequence, this compound has been approved by CRC phase I/II committee for clinical development

A Comparative Analysis of Students’ Technology Uses During Covid-19 Lockdown in Ghana

The study tests an author-derived quantitative version of the Student Technology Use Framework by assessing the effectiveness of distance learning technologies deployed by universities in Ghana during the Covid-19 lockdown period. It focuses on the knowledge acquisition needs of students who were initially admitted into the traditional learning mode but had to adapt to distance learning following the lockdown. The population comprises undergraduate and postgraduate students of the Christian Service University College (CSUC), a private university in Kumasi, and the Ghana Institute of Journalism (GIJ), a public university in Accra. The sample size was 351 - 187 from CSUC and 164 from GIJ. Copies of a questionnaire were distributed to CSUC students by personal contact, and a Google Forms link to GIJ students via e-mail. Results show that students in public universities had lower technological learning capabilities than their compatriots in private universities, resulting in a better learning experience throughout the lockdow

The Informal Apprenticeship System in Ghana: Post Graduation Job Integration and Its Implications for the Management of Urban Space

In spite of the enormous contributions the informal apprenticeship system has made to empowering many creative intelligent young Ghanaians, it has over the years come under a barrage of criticism and forceful evictions in many urban areas in Ghana. The justification by  urban administrators and planners for forcefully removing these graduate apprentices who set up their businesses  have been on grounds of encroachment of public spaces and illegal occupation of precarious locations. Informal graduate apprentices have defended their locational choice on ground of unfairness on the part of the state and the market to cater for their space needs. In the awake of a growing informal apprenticeship system in Ghana, this paper sought to establish the inherent relationship that exist between the growth in apprentices, their locational preferences, and their implications for urban planning and management. Using a case study approach the study built upon earlier exploratory research works done in the area. Information was gathered from 162 graduate apprentices-now entrepreneurs in four broad trades namely wood worker; auto mechanics; textile and apparel; and beauticians and hairdressers in Accra using questionnaires. The responses were validated through a focus group discussion. The findings revealed the number of graduate apprentices who set up their businesses is on the rise.  Although they preferred highly accessible areas that guaranteed high patronage of their services the absence of such spaces due to inefficiencies in the urban land market or a lack of a clear regulation that addresses their specific needs have caused them to settle in areas that are available to them.  It was also evident that the more concentrated the location of their activities are the higher the number of trips it generates across the urban space. Having gained insight into the phenomenon, proposals have been made as to how best the unmet space needs of the graduate apprentices can be met so as to mitigate the negative effects that results from unplanned, uncoordinated and unmet space needs. Keywords Informal, graduate apprentices, space needs, urban managemen

Gatekeeping for Survival: Evidence from Online News Portals in Ghana

Media competitiveness and survival remain a huge responsibility in the digital era which is dictated by technological advancement, with its attendant content creators who publish what they deem as newsworthy. One approach to survival as identified in strategic media management literature is branding, which is portrayed by drawing a balance between journalistic and commercial orientations. Using the Media, Brands, Actors and Communication (MBAC) model and semi-structured interviews with online news editors, social media managers and social media curators of three solely online digital media brands in Ghana, this paper argues that the branding strategy and orientation of solely online news media portals in Ghana is more of commercial than journalistic as perceived in their type of gatekeeping. This is attributed to the need to remain competitive, sustain their small businesses and to survive. The study concludes that to remain relevant and sustainable, solely online news portals need to consider mergers as an option. Keywords: brand identity; branding strategy; gatekeeping; Ghana; online news portals; survival DOI: 10.7176/NMMC/99-02 Publication date:October 31st 202

Variational Bayes for high-dimensional proportional hazards models with applications within gene expression

Few Bayesian methods for analyzing high-dimensional sparse survival data provide scalable variable selection, effect estimation and uncertainty quantification. Such methods often either sacrifice uncertainty quantification by computing maximum a posteriori estimates, or quantify the uncertainty at high (unscalable) computational expense. We bridge this gap and develop an interpretable and scalable Bayesian proportional hazards model for prediction and variable selection, referred to as SVB. Our method, based on a mean-field variational approximation, overcomes the high computational cost of MCMC whilst retaining useful features, providing a posterior distribution for the parameters and offering a natural mechanism for variable selection via posterior inclusion probabilities. The performance of our proposed method is assessed via extensive simulations and compared against other state-of-the-art Bayesian variable selection methods, demonstrating comparable or better performance. Finally, we demonstrate how the proposed method can be used for variable selection on two transcriptomic datasets with censored survival outcomes, and how the uncertainty quantification offered by our method can be used to provide an interpretable assessment of patient risk.Comment: Published in Bioinformatic