Computer-aided mine design and planning at Panasqueira, Portugal

Imperial Users onl

Truancy and its Influence on Students’ Learning in Dormaa Senior High School

The study instigated the incidence of truancy among students and its influence on learning in the Dormaa Senior High School. A descriptive survey design was adopted in carrying out the study. The study population consisted of teachers, students, parents and opinion leaders in the study area. The simple random and purposive samplings were used in selecting respondents. A sample of 135, made up of 20 teachers and 100 students, 10 parents and 5 opinion leaders were selected to participate in the study. A set of questionnaires was designed and administered to the teachers and students. Documentary evidence from the class attendance register and students’ report cards were used. In the case of the parents and opinion leaders, semi-structured interview schedules were developed and used to obtain their views. Descriptive statistics were used in presenting the quantitative data. The qualitative data were also presented thematically to support the quantitative data. The study revealed that the causes of truancy can be categorized into student related, family related and school related. Both teachers and students agreed that peer pressure is one of the causes of truancy. The study also showed that truancy brings about school drop-outs and affects students academic output. It was realized that most of the students who attended classes regularly performed better than their counterparts who absented themselves from classes on a regular basis. It was recommended among other things that all stakeholders should see to it that there are qualified counselors in all second cycle schools to assist students

Managerial entrenchment and payout policy : A catering effect

We thank Collins Ntim for useful comments. We also thank seminar participants at Massey University, Coventry University, and the 28th EBES Conference (2019).Peer reviewedPostprin

Religiosity, Borrower Gender and Loan Losses in Microfinance Institutions : A Global Evidence

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Why Do Financially Unconstrained Firms Borrow to Repurchase Shares?

The authors are grateful to Seth Armitage, Vidhan Goyal, Yulia Merkoulova, Patrick Verwijmeren, and Betty Wu for helpful comments and suggestions. Special thanks go to two anonymous referees and to Alan Lowe and Nathan Joseph, the editors, for their very helpful comments.Preprin

Empirical studies on share issuance and repurchase decisions

Financial constraints influence corporate policies of firms, including both investment decisions and external financing policies. The relevance of this phenomenon has become more pronounced during and after the recent financial crisis in 2007/2008. In addition to raising costs of external financing, the effects of financial crisis limited the availability of external financing which had implications for employment, investment, sale of assets, and tech spending. This thesis provides a comprehensive analysis of the effects of financial constraints on share issuance and repurchases decisions. Financial constraints comprise both internal constraints reflecting the demand for external financing and external financial constraints that relate to the supply of external financing. The study also examines both operating performance and stock market reactions associated with equity issuance methods. The first empirical chapter explores the simultaneous effects of financial constraints and market timing on share issuance decisions. Internal financing constraints limit firms’ ability to issue overvalued equity. On the other hand, financial crisis and low market liquidity (external financial constraints) restrict availability of equity financing and consequently increase the costs of external financing. Therefore, the study explores the extent to which internal and external financing constraints limit market timing of equity issues. This study finds that financial constraints play a significant role in whether firms time their equity issues when the shares are overvalued. The conclusion is that financially constrained firms issue overvalued equity when the external equity market or the general economic conditions are favourable. During recessionary periods, costs of external finance increase such that financially constrained firms are less likely to issue overvalued equity. Only unconstrained firms are more likely to issue overvalued equity even during crisis. Similarly, small firms that need cash flows to finance growth projects are less likely to access external equity financing during period of significant economic recessions. Moreover, constrained firms have low average stock returns compared to unconstrained firms, especially when they issue overvalued equity. The second chapter examines the operating performance and stock returns associated with equity issuance methods. Firms in the UK can issue equity through rights issues, open offers, and private placement. This study argues that alternative equity issuance methods are associated with a different level of operating performance and long-term stock returns. Firms using private placement are associated with poor operating performance. However, rights issues are found empirically to be associated with higher operating performance and less negative long-term stock returns after issuance in comparison to counterpart firms that issue private placements and open offers. Thus, rights issuing firms perform better than open offers and private placement because the favourable operating performance at the time of issuance generates subsequent positive long-run stock price response. Right issuing firms are of better quality and outperform firms that adopt open offers and private placement. In the third empirical chapter, the study explores the levered share repurchase of internally financially unconstrained firms. Unconstrained firms are expected to repurchase their shares using internal funds rather than through external borrowings. However, evidence shows that levered share repurchases are common among unconstrained firms. These firms display this repurchase behaviour when they have bond ratings or investment grade ratings that allow them to obtain cheap external debt financing. It is found that internally financially unconstrained firms borrow to finance their share repurchase when they invest more. Levered repurchase firms are associated with less positive abnormal returns than unlevered repurchase firms. For the levered repurchase sample, high investing firms are associated with more positive long-run abnormal stock returns than low investing firms. It appears the market underreact to the levered repurchase in the short-run regardless of the level of investments. These findings indicate that market reactions reflect both undervaluation and signaling hypotheses of positive information associated with share repurchase. As the firms undertake capital investments, they generate future cash flows, limit the effects of leverage on financial distress and ultimately reduce the risk of the equity capital

Firm-level political risk and corporate leverage decisions

Peer reviewe

Leverage and performance : do size and crisis matter?

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Predictors of noncompliance to antihypertensive therapy among hypertensive patients Ghana: Application of health belief model

This study determined noncompliance to antihypertensive therapy (AHT) and its associated factors in a Ghanaian population by using the health belief model (HBM). This descriptive cross-sectional study conducted at Kintampo Municipality in Ghana recruited a total of 678 hypertensive patients. The questionnaire constituted information regarding sociodemographics, a five-Likert type HBM questionnaire, and lifestyle-related factors. The rate of noncompliance to AHT in this study was 58.6%. The mean age (SD) of the participants was 43.5 (±5.2) years and median duration of hypertension was 2 years. Overall, the five HBM constructs explained 31.7% of the variance in noncompliance to AHT with a prediction accuracy of 77.5%, after adjusting for age, gender, and duration of condition. Higher levels of perceived benefits of using medicine [aOR=0.55(0.36-0.82),p=0.0001] and cue to actions [aOR=0.59(0.38-0.90),p=0.0008] were significantly associated with reduced noncompliance while perceived susceptibility [aOR=3.05(2.20-6.25),