The IFRS for SMEs is an important element for attaining competitive advantage, attracting investors and gaining access to financial assistance in today's world of competitive business irrespective of their size. The study assessed the adoption and implementation challenges of IFRS for SMEs among SMES in GA East (Madina). To assess the adoption and implementation benefits and challenges, a qualitative research and conceptual and theoretical framework was developed. These guided the design of the data collection instrument to suit the research. The study collected primary data by conducting interviews on 20 respondents. Purposive sampling techniques were used to select the firms. Data collected as transcribed and coded into the Nvivo software. The study revealed that, about 60% of Small and medium entities in Madina do not have knowledge about the IFRS for SMEs. The study further revealed that meeting regulatory 242 ajfa.macrothink.org requirements and avoiding noncompliance cost were some of the factors that necessitated firms with little knowledge on the standard to adopt it.
The Ghanaian banking industry has had both good and bad times as far as profit is concerned. However, the industry remains good, as evidened from the rising number of other banks from the continent to either merge with the indigenous banks or take over the operation of some of the local banks. In this view this; the study assessed the efficiency and profitability of banks operating in Ghana by using listed banks between the years 2006 to 2011. This quantitative study employed panel data approach using regression analysis to assess the efficiency of banks operating on the Ghana Stock Exchange. The dependent variable is profitability, comprises of return on assets and the size of the firm. The independent variable efficiency also comprises leverage ratio, liquidity ratio, credit risk ratio and profitability ratio. The main source of data employed for this research is a secondary data. The study revealed that 60.74 percent of the variation or changes in the profitability of the banks are accounted for by the independent variables such as the liquidity level, leverage, productivity, credit risk and size of the banks. This was revealed by the coefficient of determination (R 2) which shows the amount of variation in the dependent variable as being explained by the independent variables
This study examined the effect of IFRS adoption on the quality of financial statements of selected firms on the Ghana Stock Exchange. The study used the extent of management practices as a metric for financial statement quality. The audited annual reports of the selected firms from the GSE were analyzed using a panel regression model over the period 2001-2006 and 2007-2014. The study finds the adoption of IFRS to be significantly and negatively affect earnings management practices and, thus, improves financial statement quality. On the extent of earnings management practices, the study finds a decrease in the post-adoption era as opposed to the pre-adoption era, signifying an improvement in accounting quality. The panel regression results show that adopting IFRS significantly decreases the extent of earnings management.
Purpose The purpose of this paper is to investigate the effect of financial development on the Doing Business and capital flight contagion. And further, this study determines the threshold beyond which financial development reduces capital flight. Design/methodology/approach A two-step system generalized methods of moment empirical model with linear interaction between Doing Business and financial development was estimated. This study used data on 26 countries over 12 years (2004–2015). Findings The main results indicated that, although Doing Business had a significant positive effect on capital flight, the interactive term had a significant adverse effect on capital flight. This outcome suggests that to reduce capital flight, a well-reformed and efficient business environment should be embedded with an efficient, stable and well-developed financial sector. In addition, the authors found only South Africa has a robust financial framework beyond the threshold of 0.383, whereas Congo, Rep., Rwanda, Malawi, Sierra Leone and Congo, Dem. Rep. had the weakest financial system and sector in Sub-Saharan Africa. Research limitations/implications This study recommends that policymakers should initiate policies that would enhance financial development. Originality/value This study’s main contributions are that the authors estimated the threshold beyond which financial development helps the business environment reduce the rate of capital flight. Further, the authors have shown that financial development is a catalyst to propel the deterioration powers of the business environment against capital flight. Also, the authors have estimated the long-run effect of the variables of interest on capital flight.
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