Papers by Ben Agyei-mensah
African Journal of Business Management, Nov 7, 2012
This paper investigates the extent of disclosure by firms complying with IAS 1. The key relations... more This paper investigates the extent of disclosure by firms complying with IAS 1. The key relationships examined are between extent of disclosure and company size, profitability, liquidity, leverage and auditor size. The results of the disclosure level, mean of 60.9%, indicate that most of the firms listed on the Ghana Stock Exchange did not overwhelmingly comply with the IAS 1 disclosure requirements. The result of the multiple regression analysis shows that only liquidity is associated on a statistically significant level as far as the extent of disclosure is concerned. The results did not provide support for a positive relationship between company size, profitability, leverage and auditor size.
Adoption of International Financial Reporting Standards (IFRS) in Ghana and the Quality of Financial Statement Disclosures
Social Science Research Network, Dec 19, 2013
Journal of Applied Finance and Banking, 2012
This study was conducted to investigate the influence of firm-specific characteristics which incl... more This study was conducted to investigate the influence of firm-specific characteristics which include firm size, profitability, debt equity ratio, liquidity and audit firm size on voluntary disclosure level of rural banks in the Ashanti region of Ghana. The research was conducted through detailed analysis of the disclosures of the financial statements of the rural banks for the year 2009. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results indicate that profitability represented by Return on Capital Employed (ROCE) is positively related to the disclosure level, whilst debt equity ratio,
The International Journal of Academic Research in Business and Social Sciences, Jan 24, 2012
In a developing economy like Ghana, the contribution of small firms to the employment of the yout... more In a developing economy like Ghana, the contribution of small firms to the employment of the youth is highly recognized, but their contribution towards revenue to the national budget seems negligible. The reason is that some of the firms do not manage their working capital as expected and this has affected the viability of their businesses. The study revealed that the operators of small firms possess limited formal education, weak managerial and financial management skills within the sector. They also lack qualified accounting staff and suitable accounting software which are motivators to effective working capital management practices. Owners/managers were found to act as barriers to efficient usage of working capital management practices. Recommendations on credit control and collection policies, the importance of the use of computer spreadsheets, training and education which the study found to be problems with the sample small firms have been suggested to the owners/managers.
Social Science Research Network, 2011
This paper investigates the extent of disclosure by firms complying with IAS 1. The key relations... more This paper investigates the extent of disclosure by firms complying with IAS 1. The key relationships examined are between extent of disclosure and company size, profitability, liquidity, leverage and auditor size. The results of the disclosure level, mean of 60.9%, indicate that most of the firms listed on the Ghana Stock Exchange did not overwhelmingly comply with the IAS 1 disclosure requirements. The result of the multiple regression analysis shows that only liquidity is associated on a statistically significant level as far as the extent of disclosure is concerned. The results did not provide support for a positive relationship between company size, profitability, leverage and auditor size.
Social Science Research Network, 2011
This study was conducted to investigate the influence of firm-specific characteristics which incl... more This study was conducted to investigate the influence of firm-specific characteristics which include firm size, profitability, debt equity ratio, liquidity and audit firm size on voluntary disclosure level of rural banks in the Ashanti region of Ghana. The research was conducted through detailed analysis of the disclosures of the financial statements of the rural banks for the year 2009. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results indicate that profitability represented by Return on Capital Employed (ROCE) is positively related to the disclosure level, whilst debt equity ratio,
The relationship between corporate governance mechanisms and IFRS 7 compliance: evidence from an emerging market
Corporate Governance, Jun 5, 2017
Purpose This paper aims to investigate compliance with risk disclosure requirements under Interna... more Purpose This paper aims to investigate compliance with risk disclosure requirements under International Financial Reporting Standard (IFRS 7) by firms listed on the Ghana Stock Exchange (GSE) over a three-year period. Specifically, the paper examines the extent, quality and determinants of risk disclosure compliance with IFRS 7. Design/methodology/approach The study uses 90 firm-year observations for the period 2011-2013 for firms listed on the GSE. Each annual report was individually examined and coded to obtain the extent and quality of corporate risk disclosure index. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which forms the main data analysis. Findings The results indicate that over the three years, the extent of compliance with IFRS 7 is, on average, 53 per cent, which is very low; the quality of the disclosures is, on average, 33 per cent, which is also very low. The regression results suggest that proportion of non-executive director (PNED) is significantly and positively associated with the extent of risk disclosure compliance under IFRS 7. Board size was found to be significantly and positively associated with quality of risks disclosure compliance. Originality/value This is the first study in Ghana that considered the impact of corporate governance factors on the extent and quality of IFRS 7 risk disclosure compliance. The findings of this study will help market regulators in Ghana in evaluating the adequacy of the risk disclosures by listed firms.
AJEMS-04-2018-0102 Publication
The Relationship between Corporate Governance, Corruption and Forward-Looking Information Disclosure: A Comparative Study
Social Science Research Network, May 28, 2017
Purpose This paper aims to examine the relationship between corporate governance, corruption and ... more Purpose This paper aims to examine the relationship between corporate governance, corruption and disclosure of forward-looking information in listed firms in two African countries, Botswana and Ghana. Design/methodology/approach The study uses 174 firm-year observations between the period of 2011-2013 for listed firms in the two countries. Each annual report was individually examined and coded to obtain the disclosure of forward-looking information index. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. Findings The findings show that firms in the least corrupt country, Botswana, disclose more forward-looking information than firms in Ghana, one of the most corrupt countries in sub-Saharan Africa. This confirms the relationship between the transparency level of a country and the transparency level of the listed firms in that country. Originality/value This is one of the few studies in sub-Saharan Africa that considered the impact of corporate governance factors on transparency and disclosure of forward-looking information. This study contributes to the literature on the relationship between corporate governance and disclosure by showing that disclosure of forward-looking information in Ghana is associated with the proportion of independent board members. The disclosure of forward-looking information in Botswana on the other hand is influenced by board ownership concentration. The findings of this study will help market regulators in Ghana, Botswana and sub-Saharan Africa, Security and Exchange Commission (SEC) and the Sub-Sahara African Exchanges in evaluating the adequacy of the current disclosure regulations in their countries.
Do national culture and board attributes influence corporate investment decisions?
Corporate Governance, Jan 16, 2023
Does the corruption perception level of a country affect listed firms’ IFRS 7 risk disclosure compliance?
Corporate Governance, Aug 7, 2017
Purpose This paper aims to examine the relationship between corporate governance, corruption and ... more Purpose This paper aims to examine the relationship between corporate governance, corruption and compliance with International Financial Reporting Standard (IFRS 7) risk disclosure requirements in listed firms in two Sub-Saharan Africa countries: Botswana and Ghana. This study tries to test whether the transparency level of a country has any impact on the transparency level of its firms. Design/methodology/approach The study uses 174 firm-year observations between the period 2013-2015 for listed firms in the two countries. Each annual report was individually examined and coded to obtain the disclosure of corporate risk disclosure index. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which forms the main data analysis. Findings The results suggest that the extent of risk disclosure compliance over the three-year period is, on average, 63 and 53 per cent for Botswana and Ghana, respectively. The differences in the disclosure levels in the two countries can be attributed to the different levels of corruption in the two countries. One way of hiding corrupt practices is for companies to disclose scanty information. Originality/value This is one of the few studies in Sub-Saharan Africa that tests the transparency levels of listed firms in the two countries by considering the impact of corporate governance factors on IFRS 7 risk disclosure compliance. The findings of this study will help market regulators in Ghana, Botswana, the Sub-Saharan Africa Security and Exchange Commission (SEC) and the Sub-Saharan Africa exchanges in evaluating the adequacy of the current disclosure regulations in their countries.
Advances in Finance, Accounting, and Economics
This chapter reports on the impact of the adoption of IFRS in Ghana. It first traced the history ... more This chapter reports on the impact of the adoption of IFRS in Ghana. It first traced the history of accounting standards in Ghana and the reason for the adoption of IFRS in 2007. One of the key issues that IFRS talk about is the disclosure of financial and non financial information in corporate financial reports. Hence this chapter provides evidence on the extent of disclosures, the quality of the disclosures and the determinants of the disclosures. The disclosure of financial ratios, forward-looking information and internal control information in corporate annual reports were extensively studied and findings reported in this chapter. The results of the quality of financial information disclosure mean of 76.80% (pre adoption) and 87.09% (post adoption) for the two years indicate that the quality of financial reports has improved significantly after adopting IFRSs. The findings thus confirms that the implementation of IFRSs generally reinforce accounting disclosure quality. However, ...
Factors Inhibiting Export Performance of Small Manufacturing Firms in Ghana: The Case of Juaben Oil Mills
SSRN Electronic Journal, 2010
... The present study aims at gaining insight into the barriers that hinder the export performanc... more ... The present study aims at gaining insight into the barriers that hinder the export performance of small ... small business exporting; (2) To analyze the characteristics, content, and impact of each barrier on export decisions in ... data and interviews to gather data for the study. ...
Strategic Repositioning of Amben Investment Services Using the Balanced Scorecard and Economic Value Added
SSRN Electronic Journal, 2010
Abstract: Johnson and Kaplan's Relevance Lost in 1987 revolutionalised managemen... more Abstract: Johnson and Kaplan's Relevance Lost in 1987 revolutionalised management accounting practice and questioned the reliance on financial measures as the sole measuring standard in firms. This has also increased the interest in performance ...
SSRN Electronic Journal, 2010
In a developing economy like Ghana, the contribution of small firms to the employment of the yout... more In a developing economy like Ghana, the contribution of small firms to the employment of the youth is highly recognized, but their contribution towards revenue to the national budget seems negligible. The reason is that some of the firms do not manage their working capital as expected and this has affected the viability of their businesses. The study revealed that the operators of small firms possess limited formal education, weak managerial and financial management skills within the sector. They also lack qualified accounting staff and suitable accounting software which are motivators to effective working capital management practices. Owners/managers were found to act as barriers to efficient usage of working capital management practices. Recommendations on credit control and collection policies, the importance of the use of computer spreadsheets, training and education which the study found to be problems with the sample small firms have been suggested to the owners/managers.
SSRN Electronic Journal, 2010
The contribution of small firms to the employment of the youth in Ghana is highly recognised, but... more The contribution of small firms to the employment of the youth in Ghana is highly recognised, but their contribution towards revenue to the national budget seems to be negligible. The reason for this situation is that these small firms do not have sound financial management systems in place which will help them to prepare financial reports. The end result is that it becomes very difficult for tax authorities to compute their taxable incomes. The three most influential factors that did motivate the sample firms in pursuing sound financial management practices were: (1) Pressure from bankers (90%); (2) Pressure from external accountants (80%) (3); Pressure from providers of capital (70%). The three most influential factors that prevent them from practicing sound financial management practices were: (1) Qualified accountants too expensive to maintain (93%); (2) Accounting records too difficult to understand (87%); (3) Lack of internal accounting staff (73%). In the light of the findings of the study, it has been recommended among other things that, they should avoid mixing business transactions with non-business transactions. It was also recommended that small firms should disclose fully the financial position by keeping full set of information on business transactions.
Effective audit committee, audit quality and earnings management: evidence from the Ghana Stock Exchange
International Journal of Managerial and Financial Accounting, 2019
The purpose of this paper is to investigate the influence of audit committee effectiveness and au... more The purpose of this paper is to investigate the influence of audit committee effectiveness and audit quality (auditor size) on earnings management by firms listed on the Ghana Stock Exchange (GSE). The study uses 180 firm-year observations for the period 2013-2017 for firms listed on the Ghana Stock Exchange. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which forms the main data analysis. The results of multivariate regression analysis indicated that audit committee financial expertise, audit committee prior experience, audit committee size and audit quality have significant negative relationship with discretionary accruals (DACC) as a proxy for earnings management. On the other hand, no significant relationship was found between audit committee independence and audit committee meeting (ACMT) and the level of discretionary accruals. This paper is important because it offers useful information that is of great value to policy makers, academics and other stakeholders. This study is one of the few to measure the influence of audit committee effectiveness and audit quality (auditor size) on earnings management.
IAS-24 related party disclosure compliance and corporate governance: evidence from an emerging market
Afro-Asian J. of Finance and Accounting, 2021
Factors Determining Allocation of Common Costs in the Financial Services Sector: A Study of Rural Banks in the Ashanti Region of Ghana
Development Economics: Regional & Country Studies eJournal, 2012
One of the necessary conditions for organisational controls to work is that the manager whose per... more One of the necessary conditions for organisational controls to work is that the manager whose performance is being measured must be able to affect the results in a material way. The controllability principle in management accounting is one of the central tenets of responsibility accounting, (Merchant and Van der Stede, 2007).The study assessed whether in measuring the performance of these branches factors that are within the control of these branches are considered. In addition the study examined the impact of contingent factors on the application of the controllability principle.The study found out that branch managers do not have full autonomy and control over common resources costs which form part of their evaluation, even though management accounting theory suggest that.The study findings also revealed that profitability (i.e. operating profit margin, Return on shareholders' capital) and liquidity (i.e. current ratio and working capital ratio) have varied impact on the use o...
Social Sciences Education eJournal, 2016
This paper presents an exploratory study using survey data collected at two universities in South... more This paper presents an exploratory study using survey data collected at two universities in South Korea and China to analyze students’ opinions when a university in a non-English speaking country adopts English as the default language of its Web site homepage. The results show that Chinese students and non-Chinese Asian students have similar opinions toward this university promotion strategy, which makes the institution more attractive to prospective students, enhances the university’s image, and increases their willingness to apply. These findings suggest that in a highly competitive higher education market, a higher education institution in a non-English speaking country may employ English as its homepage default language to enhance student’s evaluation of it.
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Papers by Ben Agyei-mensah