An Exploratory Study of Entrepreneurial Leadership Development of Polytechnic Students

Polytechnic entrepreneurship programs play fundamental roles in developing entrepreneurial qualities of students. However, little is known about the contributions of such programs in developing students’ entrepreneurial leadership capabilities. A qualitative research was conducted to explore the roles of entrepreneurship programs of Accra Polytechnic in developing students’ entrepreneurial leadership. Two student entrepreneurial leaders who are actively involved in entrepreneurial leadership activities through holding the leadership positions of the Polytechnic entrepreneurship clubs and also participated in the Polytechnic entrepreneurship development courses were purposefully selected as the participants of this study. The semi-structured interview data analysis indicates that the polytechnic entrepreneurship development programs facilitate entrepreneurial leadership development of students in many ways including experiential learning, social interaction learning, and opportunity recognition. Moreover, entrepreneurial leadership development occurs in a process of transforming the knowledge acquired from experience and social interaction to identify the opportunities for personal development and business creation. Implication of the findings and suggestions for improving the polytechnic entrepreneurship programs are presented in the closing section of this paper. Keywords: Entrepreneurship, Development Programs, Entrepreneurial Leadership, Polytechnic, Education, Students

Effect of FINSSP ON Stock Price Volatility In Ghana; Firm Level Analysis

This study investigates the effect of trading volume on the conditional volatility persistence of 13 individual stocks listed on the GSE using Lamoureux and Lastrapes (1990) model. All the stocks show a high degree of volatility persistence. FINSSP succeeded in making volatility of various stocks on GSE decay faster. It also turn out that FINSSP is significant in increasing the leverage effect of stocks on GSE. It was observed that volume traded has significant effect on conditional variance that volume traded may be a good proxy for stock-level analysis, but not for market-level analysis. The effect of expected trading volume on conditional variance in most stocks turnout to be stronger than unexpected trading volume. Keywords: GSE, Expected and Unexpected Trading Volume, Volatility, FINSSP and GARCH

Government Spending and Economic Groweth Nexus: An Econometric Analysis

Proponents of larger governments argue that government programmes provide essential public goods like education and infrastructure, which, in turn, stimulate the economy. On the other hand, individuals who advocate for more limited government assert that an increase in public spending will be detrimental to economic expansion due to the fact that many functions of government are inefficient and not in the public interest. In light of this, it is important to comprehend how different facets of government spending impact economic growth. The research utilised panel unit root tests, specifically the Pesaran and IPS tests, and panel cointegration techniques, including Pooled Mean Group and Dynamic Fixed Effect. Additionally, secondary data from World Bank indicator variables spanning from 1985 to 2021 were analysed in 32 countries located in Sub-Saharan Africa. The results of the study suggest that there exists a correlation between government expenditure and economic growth, in both the immediate and distant future. Additionally, the study emphasises the importance of institutional quality as a significant determinant of this relationship. Therefore, it is recommended that all accessible government funds be allocated towards the objective of establishing durable and self-sufficient infrastructure

Government Spending and Economic Groweth Nexus: An Econometric Analysis

Proponents of larger governments argue that government programmes provide essential public goods like education and infrastructure, which, in turn, stimulate the economy. On the other hand, individuals who advocate for more limited government assert that an increase in public spending will be detrimental to economic expansion due to the fact that many functions of government are inefficient and not in the public interest. In light of this, it is important to comprehend how different facets of government spending impact economic growth. The research utilised panel unit root tests, specifically the Pesaran and IPS tests, and panel cointegration techniques, including Pooled Mean Group and Dynamic Fixed Effect. Additionally, secondary data from World Bank indicator variables spanning from 1985 to 2021 were analysed in 32 countries located in Sub-Saharan Africa. The results of the study suggest that there exists a correlation between government expenditure and economic growth, in both the immediate and distant future. Additionally, the study emphasises the importance of institutional quality as a significant determinant of this relationship. Therefore, it is recommended that all accessible government funds be allocated towards the objective of establishing durable and self-sufficient infrastructure

Government Spending And Economic Growth Nexus In Sub-Saharan Africa: An Econometric Analysis

Proponents of larger governments argue that government programmes provide essential public goods like education and infrastructure, which, in turn, stimulate the economy. On the other hand, individuals who advocate for more limited government assert that an increase in public spending will be detrimental to economic expansion due to the fact that many functions of government are inefficient and not in the public interest. Secondary data from World development indicator variables spanning from 1985 to 2021 were analysed. The dependent variable for the study was GDP per capita and the independent variables were institutional quality, government expenditure, capital stock and trade openness. The model used for the study are Pearson correlation, Pesaran's , Friedman's and Frees' cross sectional dependency test, IPS and CIPS unit root test, Pooled Mean Group and Dynamic Fixed Effect regression to test for the long-run cointegration and short-run relationship in 32 African countries. The results of the study suggest that there exists a long-run and short-run relationship between government expenditure and economic growth. Additionally, the study emphasises the importance of institutional quality as a significant determinant of this relationship. Therefore, it is recommended that all accessible government funds be allocated towards the objective of establishing durable and self-sufficient infrastructure

Tax Morale and its Drivers: Empirical Evidence from Ghana

Using the binary logistic regression model, this study analyzes the statistical relationships between tax morale and its drivers as developed by the World Values Survey (WVS) on 1,552 respondents in Ghana between 2010 and 2014. The findings show that age has a significant positive relationship with tax morale, whereas participation in national-level elections also has a significant positive relationship with tax morale. Secondary education and above have a positive relationship with tax morale, but the relationship is negative below secondary education. One's employment status has a positive but insignificant relationship with tax morale, but income factors have a negative relationship. Confidence in government and parliament has a positive but insignificant relationship with tax morale. Finally, preference for the redistribution of wealth has a significant positive relationship with tax morale, while trust in others has an insignificant positive relationship with tax morale. The study provides country-specific drivers of tax morale (with expanded variables) and their relationships with tax morale in direct response to a suggestion by Daude, Gutiérrez, & Melguizo in their study in 2012 and as an improvement upon a similar study conducted in Ghana by Ibrahim, Musah, & Abdul-Hanan in 2015

The Relationship between Bank Deposits and Macroeconomic Variables in Ghana: A Co-Integration Approach

This study examined the linkages between macroeconomic variables and how those relationships affect the total deposits of Ghanaian banks. The macroeconomic variables included in this study were Inflation (I), Monetary Policy Rate (MPR), Gross International Reserve (GIR), Public Debt (PD), Gross Domestic Product (GDP), GSE All share Index (GASI), Rate of change in Total Money Supply (M2+), deposits in the banking sector (TD). The study employed monthly data over the period (2015–2020); obtained from the Bank of Ghana monthly time series database. The data were analyzed using Gretl. The cointegration technique was employed in this study to gauge the long-term and short-term responsiveness of the connections. The ADF results indicated that the study variables were non-stationary. The econometric analysis suggested that the study variables, inflation (I), Gross Domestic Product (GDP), Public Debt level (PD), and Total Deposits (TD) in banks operating in Ghana, exhibited a significant positive long-run cointegration relationship. This suggested that the identified variables play a crucial role in explaining the fluctuations in total deposit levels within the Ghanaian banking industry. Bank deposit is strongly exogenous and moves to restore equilibrium through several short-run partial adjustments in the short-run. Also, in the short-run, only the GSE All-share index (GASI) significantly influenced bank deposits, but not in the long-run. In the long run, the relationship was still positive but insignificant

Exchange Rate and Stock Price Nexus: Evidence from Ghana

This study aimed at investigating the link between the Ghanaian exchange rate and stock prices from July 2007 to December 2019, to establish whether appreciation in exchange rate causes stock price increases or otherwise. The Ghana Stock Exchange's (GSE) All-Share Index; served as a proxy for stock prices, while nominal monthly exchange rates for the Ghana Cedi in terms of the US Dollar were utilized as a proxy exchange rate. The Pearson's Product Moment Correlation test was employed to evaluate the link between the two variables, and the Augmented Dickey-Fuller (ADF) test was employed to determine the data's stationarity qualities. The series were all non-stationary since they had unit roots; however, stationarity was attained at the first difference. The results of the regression and correlation analysis conducted revealed that the two macroeconomic variables are negatively connected in the Ghanaian context. In view of the negative association between the exchange rate and stock prices in Ghana, the study advises policymakers to be cautious when implementing exchange rate measures

Effect of Interest Rate on Stock Prices in Ghana

The paper assesses the effect of interest rate on stock prices, with emphases on Ghana Stock Exchange; using monthly time series data from July 2007 to December 2019. The Augmented Dickey-Fuller (ADF) test was employed to establish the stationarity properties of the data or otherwise. Using the Ordinary Least Squares (OLS) estimation technique of Multiple Regression, the results (? = – 0.891, p < 0.05) revealed an indirect association between interest rates and stock prices in the Ghanaian context; which is consistent with the theoretical conclusion that an increase in interest rate results in a decrease in stock prices. Thus, in the light of this finding, it was recommended that policymakers should consider the stock market dynamics due to the significant relationship that exists between the two macroeconomic variables