Nicholas Addai Boamah

University

Purpose This research explores to answer the question: What accounts for the substantial underwriting losses in the Ghanaian insurance industry? Design/methodology/approach Thirty-four (34) insurers' audited financial reports covering the period of 2007 to 2017 were analysed through dynamic panel regression to uncover the underlying causes of high...

The study investigates the dynamic interaction between foreign banks' presence, efficiency, competition, and risk exposure of banks in middle-income economies (MIEs). The study employs data across sixty-two (62) MIEs over the 2000 to 2017 era. It adopts a panel Vector Autoregressive (panel-VAR) approach. The evidence indicates that competition posi...

Purpose This study investigates the ability of crime management expenses, recognised external quality certification and ownership structure to describe the cross-sectional changes in the capital and labour efficiencies of manufacturing firms in middle income economies. It controls for the potential effects of graft incidence and firm age on firm-le...

Purpose This study aims to examine the descriptive capabilities of efficiency, liquidity risk and capital risk for the cross-sectional and time-series variations in banks’ performance across emerging economies (EEs). It also examines the impact of the 2008 global financial crisis (GFC) on the effects of capital, liquidity and efficiency on banks’ p...

The study investigates global information diffusion into emerging markets (EM) security prices. It explores the role of financial market segmentation and the business environment in describing global information production by emerging markets securities. Using Kalman smoother and variance decomposition techniques, the study estimates the global inf...

Purpose The study examines the dynamic association between competition, risk-taking, performance and income diversification of frontier and emerging economy (FEE) banks. It additionally, explores the effect of banking sector depth and economic performance on the level of competition, performance and risk-taking behavior of banks in these economies....

Relying on dynamic conditional correlations, state space model and variance decomposition techniques, the study explores the delay in global information diffusion into emerging market security prices. It examines the relevance of financial market integration, economic engagement and investor rights protection regimes in describing the cross-section...

Daily returns of 224 stocks traded on three distinctively classified markets (stand-alone, frontier, and emerging) within a developing continent context are used, employing the Chang, Chen and Khorana (2000) measure. We provide evidence of the presence of investor herding in Africa's emerging and frontier markets. Evidence of asymmetric herding act...

We explore the co-movements between emerging markets by employing dynamic conditional correlation approach. We additionally explore the factors that might drive the conditional correlations between emerging markets. We show that trade with the high income countries is a more important driver of the co-movements between emerging markets relative to...

Purpose The purpose of this paper is to explore the co-movements among emerging markets. The authors, additionally, investigate the driven force of the within emerging markets integration. The authors provide evidence of volatility clustering, leverage effect and time-varying integration of emerging markets. Design/methodology/approach The study u...

Purpose: The purpose of this paper is to examine the degree of integration of emerging markets with the world market and amongst them. Further, the impact of the 2008 global financial crisis (GFC) on and structural breaks in the degree of integration are explored. The paper, additionally, analyses the behaviour of the level and the rate of change o...

Purpose The purpose of this paper is to examine the relative importance of global sector effects in African sector portfolios (ASPs). It explores the dynamics of the rate of change and the level of global sector effects in their respective ASPs. Design/methodology/approach The variance of African industry returns is decomposed to the component att...

The study explores regionally integrated asset pricing on the African Stock Markets (ASMs) via the Fama-French model. It investigates the ability of the model to capture African equity returns at the regional level. It also explores the question of absolute versus relative measures of size and BM when securities are pooled across markets. Absolute...

The Capital Asset Pricing Model (CAPM), and the Fama-French and Carhart models have been widely applied in the developed and most emerging markets; however, there is scant evidence of the viability of the models on the African Frontier Stock Markets (AFSMs). This study examines the viability of the models for a sample that pools securities across n...

The paper decomposes the variance of emerging market equity returns to the global market and country specific constituents. The global component is then scaled by the country specific component to determine the relative global sector influence in country equity returns. Additionally, the paper explores contagion by testing for significant shifts in...

We decompose the variance of African stock markets (ASMs) index returns into the country and global components. Relying on the estimated global components, we explore the drivers of global effects on the ASMs. We observe a surge in the global effects on all of the ASMs around the period of the Global Financial Crisis (GFC). The rise in the global e...

Financial market integration has significant implications for: risk sharing and diversification, cost of capital estimation, market efficiency, financial decisions, and macro-economic policy. By relying on a multifactor asset pricing framework, this paper examines the integration of 11 African Stock Markets (ASMs) relative to the world and emerging...

Decentralized governments in Ghana have not been able to realize optimum benefits from their property tax potentials. The paper investigates the administration of property taxation in Ghana using the Offinso South Municipality (OSM) as a study area. Questionnaires were relied on to garner data from property owners in the municipality. It observed t...

Risk sharing opportunities and international diversification benefits crucially depend on the relative importance of global and national factors. By decomposing the variance of African stock market index returns into global and country specific components, we show that national effects dominate. However, global effects have recently become more imp...

Purpose – The purpose of this study is to explore the applicability of the Fama–French and Carhart models on the South African stock market (SASM). It examines the ability of the models to capture size, book-to-market (BM) and momentum effects on the SASM. The paper, additionally, explores the ability of the Fama–French–Carhart factors to predict t...

This study examines the expectations hypothesis (EH) using data from Ghana. It tests the EH by using the long-short rate spread to predict future movements in short-term interest rates and the forward-spot spread to predict changes in the spot rate. It finds that the Ghanaian term structure partly contains information for future changes in the shor...

Housing deprivation is a major problem confronting Ghanaian households both in the urban and rural environments. This paper investigates the housing condition in the Offinso South Municipality (OSM). It finds out the adequacy of housing to households in the municipality. It sampled eight neighbourhoods in the OSM for data collection. Questionnaires...

Several housing policies have been implemented in Ghana since independence in 1957. Despite these policies, housing in Ghana is characterized by inadequate housing stock, overcrowding, congestion, housing decay, and neighbourhood blight. The paper examines the outcomes of pre and post-colonial housing policies in Ghana. It determines the feasible w...

Purpose ‐ The purpose of this paper is to examine the system of development controls in the Offinso South municipality. It investigates the challenges to the development control regime. Design/methodology/approach ‐ The paper reviews the land use regulation system in the municipality. The municipality was clustered into four for data collection. Ei...

Housing insufficiency is a major problem confronting most Ghanaian households. The paper examines the state of housing in the Wa and the Offinso South municipalities of Ghana. It investigates the liveability of housing in these municipalities. The housing adequacy across the municipalities is compared. One hundred and twenty housing units in each m...

Land use controls may have positive, negative or neutral impact on urban land values. The Offinso South Municipality (OSM) employs conventional zoning in its land management practices. This article investigates the land use control regime in and its impact on land values and the living standards of residents of the municipality. Empirical data were...

This paper examines the land market in Ghana using the Wa municipality as a study area, an urban land market that is largely underdeveloped. The study employed questionnaires to collect data on how the land market in the municipality functions. It was found that this land market basically comprises undeveloped land and most of the land units are lo...

The potential of property rate has been least tapped by decentralized governments in Ghana. This paper investigates the property rating system in Ghana through a case study of Offinso South Municipality (OSM). Questionnaires were used to gather empirical data from property owners in the municipality. The paper finds that there is inadequate propert...

Financial market integration has significant implications for risk sharing and diversification, cost of capital, market efficiency, financial decisions and macro-economic policy. This paper investigates the integration of 11 African markets relative to the world and emerging markets over the period, March 1997 to January, 2013. The investigation is...

Purpose – Housing decay is a major feature of all the cities and towns in Ghana. This paper aims to investigate the condition of housing in the older neighbourhoods of the Offinso South Municipality (OSM), in the Asante region of Ghana. Design/methodology/approach – The study employed questionnaires to collect empirical data from households and pr...

The living standards of the residents of an urban area are influenced, either positively or negatively, by land use regulation via its impact on land values. This paper examines the development control regime in Wa municipality, Ghana, and its implications for residential land values. The dual aim of the study was to find out whether developers are...

The hypothesis that national price levels should be equal when expressed in a common currency has been widely studied. However, evidence from empirical literature is mixed on the validity of purchasing power parity (PPP) in the long run. This paper examined the long run validity of PPP using the bilateral real exchange rate between Mexico and the U...

Purpose – The housing finance market in Ghana is highly underdeveloped. This may be as a result of unfriendly or poor regulatory environment. This paper seeks to examine the regulatory environment and to determine its impact on the development of the formal housing finance market in the country. Design/methodology/approach – The paper executes this...

There is insufficient housing in Ghana and even most of the available houses are poorly developed and lack the basic amenities required to make them habitable. The growth of households is in excess of housing growth resulting in housing deficit in the country. The formal finance institutions have supplied very little mortgages to households in Ghan...

The housing finance market of Ghana is underdeveloped. A number of studies have suggested that the weak and unstable macro-economic environment in the country is responsible for this. These studies however, showed the relationship between the country’s mortgage market and the macro-economy through qualitative techniques. This paper, examines this r...

There are insufficient affordable housing units in Ghana. Most of the available units are poorly developed and are not habitable. The paper explores the affordable housing situation in Ghana by using Kumasi and Tamale as study area. It determines whether housing − housing credit, and rental and owner occupied units are affordable. It also determine...

There are insufficient affordable housing units in Ghana. Most of the available units are poorly developed and are not habitable. The paper explores the affordable housing situation in Ghana by using Kumasi and Tamale as study area. It determines whether housing − housing credit, and rental and owner occupied units are affordable. It also determine...

The formal housing finance system in Ghana is inadequate and highly underdeveloped. The formal finance institutions have provided very little mortgages particularly to the low and middle-income households. However, the fast growing capital market of Ghana offers an opportunity for sustainable housing finance in the country. This paper explores the...