The Effects of Dividend Announcements on Stock Prices of Financial Firms Listed on the Ghana Stock Exchange: Quantitative Research Design

2014 ◽  
Author(s):  
Kingsley Kwesi Kwabahson
Keyword(s):  
Research Design ◽  
Stock Prices ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Financial Firms ◽  
Dividend Announcements ◽  
Ghana Stock Exchange

scholarly journals Analysis Relative Strength Index and Earning Per Share on Stock Price

2019 ◽  
pp. 1-9
Author(s):  
Jajang Badruzaman
Keyword(s):  
Research Design ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Relative Strength ◽  
Quantitative Approach ◽  
Significant Positive Effect ◽  
Strength Index ◽  
Positive Effect

This study aims to determine the effect of the Relative Strength Index and Earnig Per Share on Stock Prices. The research design used is a quantitative approach with a population of all companies in the Jakarta Islamic Index (JII) category listed on the Indonesia Stock Exchange for the 2013-2016 periods. The sampling technique used was purposive sampling. Based on the criteria set, 13 companies were obtained. The results showed that the Relative Strength Index and Earnig Per Share had a significant positive effect on Stock Prices in the Jakarta Islamic Index (JII) company on the Indonesia Stock Exchange for the Period 2013-2016.

scholarly journals Does Capital Structure Affects Firms’ Performance in Ghana? Panel Data Analysis

2019 ◽  
Vol 8 (4) ◽  
pp. 131
Author(s):  
John MacCarthy ◽  
Helena Ahulu
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Equity Capital ◽  
Debt Capital ◽  
Tangible Assets ◽  
Ghana Stock Exchange

This paper examines the effect of capital structure on the firms’ performance. The study collected data from seventeen firms listed on the Ghana Stock Exchange from 2009 to 2018. A quantitative research technique is used to collect data to test two hypotheses. Panel data regression is employed to determine the effect of capital structure on firms’ performance. The study revealed that short-term debt and total debt accounted for 67% and 76.3% respectively of capital used to finance the operations for the period. Furthermore, the study revealed that there is significant and negative relationship between capital structures and firms’ performance. The study concludes that firms should minimise the use of debt capital and rather concentrate on equity capital to finance their operations. The study recommends that firms should increase sales and invest in tangible assets to maximise the firms’ performance. 

scholarly journals Assessing portfolio and asset returns of some financial and non- financial companies on the Ghana stock exchange using a 3-factor model

2021 ◽  
Vol 27 (2) ◽  
pp. 193-202
Author(s):  
C.P. Ogbogbo ◽  
N. Anokye-Turkson
Keyword(s):  
Factor Model ◽  
Stock Exchange ◽  
Asset Returns ◽  
Good Representation ◽  
Financial Firms ◽  
Number Of Factors ◽  
Equity Ratio ◽  
Book To Market Ratio ◽  
Ghana Stock Exchange ◽  
Market Volume

This study on the Ghana Stock Exchange (GSE), investigated, if the overall size of the market, affects the fundamentals of the Fama French 3-Factor model, and to ascertain if the Fama French model can be used effectively to assess portfolio and assets return for companies listed on the Ghana Stock Exchange. In this paper, portfolios of assets of companies on the Ghana Stock Exchange are constructed and analyzed using the Fama-French 3-factor model. The empirical data which consists of assets of 15 companies listed on the GSE, including assets of both financial and non-financial companies for good representation of the Ghana Stock Exchange. We found that the basic principle of the model is not satisfied. This is attributed to a number of factors which include overall size of the market, volume of trade, and high leverage (more debt than equity) associated with financial firms. High debt/equity ratio is linked to high risk. Keywords: Market Capitalization, Book-to-market ratio, Portfolio, Small minus big, High minus low

scholarly journals Effect of Interest Rate on Stock Prices in Ghana

2021 ◽  
Vol 12 (1(S)) ◽  
pp. 1-7
Author(s):  
Peter Arhenful ◽  
Augustine Kwadwo Yeboah ◽  
Kofi Sarfo Adjei
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Time Series Data ◽  
Stock Exchange ◽  
Ordinary Least Squares ◽  
Series Data ◽  
Augmented Dickey Fuller ◽  
Ghana Stock Exchange ◽  
Adf Test

The paper assesses the effect of interest rate on stock prices, with emphases on Ghana Stock Exchange; using monthly time series data from July 2007 to December 2019. The Augmented Dickey-Fuller (ADF) test was employed to establish the stationarity properties of the data or otherwise. Using the Ordinary Least Squares (OLS) estimation technique of Multiple Regression, the results (? = – 0.891, p < 0.05) revealed an indirect association between interest rates and stock prices in the Ghanaian context; which is consistent with the theoretical conclusion that an increase in interest rate results in a decrease in stock prices. Thus, in the light of this finding, it was recommended that policymakers should consider the stock market dynamics due to the significant relationship that exists between the two macroeconomic variables.

scholarly journals Jump Diffusion Modeling of Stock Prices on Ghana Stock Exchange

2020 ◽  
Vol 08 (09) ◽  
pp. 1736-1754
Author(s):  
Osei Antwi ◽  
Kyere Bright ◽  
Kwasi Awuah Wereko
Keyword(s):  
Stock Prices ◽  
Stock Exchange ◽  
Jump Diffusion ◽  
Diffusion Modeling ◽  
Ghana Stock Exchange

scholarly journals Market timing and Debt-Equity Choice of Nepalese Firms

2018 ◽  
Vol 3 ◽  
pp. 81-97
Author(s):  
Prem Prasad Silwal
Keyword(s):  
Discriminant Analysis ◽  
Stock Prices ◽  
Negative Impact ◽  
Stock Exchange ◽  
Past History ◽  
Market Timing ◽  
Weighted Average ◽  
Cross Sectional ◽  
Financial Firms ◽  
History Of

This paper aims to analyze the multivariate discriminant analysis of debt-equity choice in Nepalese non-financial firms for the period of 1992 to 2013. It is based on pooled cross-sectional data of 18 firms (263 observations) whose stocks are listed in Nepal Stock Exchange. The study finds that firm issue equity when their stock prices are high. The result further reveals that firms are strongly influenced by market conditions and the past history of security prices in issuing between equity and debt. Discriminant analysis also shows that External financing weighted average market to book ratio, market to book ratio and leverage pattern are the major determinants of issuing equity or debt. Finally, the results are consistent with the notion that market timing variables have negative impact on leverage.

scholarly journals Empirical Test of Single Factor and Multi-Factor Asset Pricing Models: Evidence from Non Financial Firms on the Ghana Stock Exchange (GSE)

2015 ◽  
Vol 8 (1) ◽  
pp. 99
Author(s):  
Prince Acheampong ◽  
Sydney Kwesi Swanzy
Keyword(s):  
Asset Pricing ◽  
Factor Model ◽  
Stock Exchange ◽  
Explanatory Power ◽  
Pricing Model ◽  
Asset Pricing Model ◽  
Financial Firms ◽  
Portfolio Returns ◽  
Ghana Stock Exchange ◽  
Three Factor

<p>This paper examines the explanatory power of a uni-factor asset pricing model (CAPM) against a multi-factor model (The Fama-French three factor model) in explaining excess portfolio returns on non-financial firms on the Ghana Stock Exchange (GSE). Data covering the period January 2002 to December 2011 were used. A six Size- Book-to-Market (BTM) ratio portfolios were formed and used for the analysis. The paper revealed that, a uni-factor model like the (CAPM) could not predict satisfactorily, the excess portfolio returns on the Ghana Stock Exchange. By using the multi-factor asset pricing model, that is, the Fama-French Three Factor Model, excess portfolio returns were better explained. It is then conclusive enough that, the multi-factor asset pricing model introduced by Fama and French (1992) was a better asset pricing model to explain excess portfolio returns on the Ghana Stock Exchange than the Capital Assets Pricing Model (CAPM) and that there exist the firm size and BTM effects on the Ghanaian Stock market.</p>

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