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All Journal International Journal of Business, Technology, and Organizational Behavior (IJBTOB)
Dramani Angsoyiri
Kwame Nkrumah University of Science and Technology, Kumasi, Ghana
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Industrial & Manufacturing Engineering Library & Information Science Social Sciences

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The Effect of Ownership Structure and Audit Quality on Firm Performance Dramani Angsoyiri
International Journal of Business, Technology and Organizational Behavior (IJBTOB) Vol. 1 No. 2 (2021): April | International Journal of Business, Technology and Organizational Behavi
Publisher : Garuda Prestasi Nusantara Consulting

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52218/ijbtob.v1i2.10

Abstract

The study examined the effect of ownership structure and audit quality on firm performance of listed companies in Ghana. The research employed a quantitative research approach; secondary data was extracted from various annual reports and financial statements of the selected companies. The target population was all 42 listed companies on the Ghana Stock Exchange. The sample size was 20 companies selected from all industries. The study period was 2013-2018 resulted in 160 firm-yearly empirical observations. The study used return on asset (ROA) and return on equity (ROE) as the performance measure. Ownership structure was measured using managerial ownership and institutional ownership, audit quality was also measured with the auditor’s reputation, audit committee size and audit committee independence. The control variables used were board size and firm size. The researcher found a weak positive correlation between institutional and managerial ownership and firm performance. Moreover, there was a positive effect of audit quality on firm performance. It implies that the engagement of the services of the Big 4 audit firms has an incremental effect on firm performance. Audit committee size posited a positive effect on firm performance whereas audit committee independence was seen to harm firm performance. Similarly, board independence showed a positive effect on ROE and a negative effect on ROA. Board size, however, indicated a positive effect on firm performance. The researcher recommended the pressing need of diversifying shareholdings in firms as a sweetener to attract more skills and expertise among shareholders that can be tapped to enhance the performance of firms. However, managers should be protected from unnecessary shareholding meddling.
The Potential for the Application of the Emerging Market Z-score Model in the Case of Listed Banks in Ghana Dramani Angsoyiri; Anthoinette Ativor
International Journal of Business, Technology and Organizational Behavior (IJBTOB) Vol. 1 No. 2 (2021): April | International Journal of Business, Technology and Organizational Behavi
Publisher : Garuda Prestasi Nusantara Consulting

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52218/ijbtob.v1i2.13

Abstract

The primary goal of the research is how to put into operation the emerging market (EM) Z-score model in predicting corporate failure and to evaluate financial performance through the analysis of the annual audited report of four quoted banks in Ghana. More so this research introduces the Z-score model in this sector as a tool for possible diagnostic behind financial performance and deterioration. The method used in this research is primarily based on the EM Z-score model developed by Altman. The approach used in this research is in line with previous research that upholds the Z-score model with 80 percent prediction accuracy. These previous researchers confirm that it is a robust instrument that helps in predicting and assessing the overall performance of companies financially and possible distress of corporate organizations given that it consists of numerous ratios financially which can be utilized to predict business liquidation, financial distress, and corporate failure. The method set up in this research is to study the annual report of banks quoted on the Ghana Stock Market by computing their Altman emerging market Z-score ratio for three years that is from 2016 to 2019 and comparing it with 2019 which is the current year emerging market Z-score ratio to evaluate the whole performance of the banks financially as well as the possibility of liquidation of banks quoted on the Ghana Stock Market. The research establishes that banks in Ghana should work hard on enhancing the Z-score ratios which are dragging the emerging market Z-score down to better comprehend the earlier period performance and to realize their current situation in the sector; the Z-score can be adopted by banks in Ghana as an effective and efficient assessment approach towards the financing the possible long joint venture projects encompassing Small and Medium businesses enterprises. This model was adopted by banks in Ghana as an autonomous credit hazard examination approach to appraising the financial strength and competencies of potential projects. It was ascertained from this research that the Altman emerging market Z-score ratio model is an applicable model for measuring the performance of quoted banks in Ghana. Limitation including the Ghanaian banking sector is still considered to be a small size that may have negative consequences on the maximum result of the research. Future research should be conducted towards updating coefficient value associated with every ratio in the Altman emerging market Z-score ratio model as per the inputs from the banks in Ghana
Co-Authors Anthoinette Ativor