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Article
Publication date: 30 April 2021

Achille Dargaud Fofack, Serge Djoudji Temkeng and Clement Oppong

This paper aims at analyzing the asymmetries created by the Great Recession in the US real estate sector.

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Abstract

Purpose

This paper aims at analyzing the asymmetries created by the Great Recession in the US real estate sector.

Design/methodology/approach

This paper uses a Markov-switching dynamic regression model in which parameters change when the housing market moves from one regime to the other.

Findings

The results show that the effect of real estate loans, interest rate, quantitative easing and working age population are asymmetric across bull and bear regimes. It is also found that the estimated parameters are larger in bull regime than bear regime, indicating a tendency to create house price bubbles in bull market.

Practical implications

Since three of those asymmetric variables (real estate loans, interest rate and quantitative easing) are related to monetary policy, the Fed can mitigate their impact on an interest-sensitive sector such as housing by engaging in a countercyclical monetary policy.

Originality/value

The estimated intercept and the variance parameter both vary from one regime to the other, thus justifying the use of a regime-dependent model.

Details

Journal of Economic and Administrative Sciences, vol. 39 no. 1
Type: Research Article
ISSN: 1026-4116

Keywords

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Article
Publication date: 27 September 2023

Clement Oppong, Abukari Salifu Atchulo, Achille Dargaud Fofack and Daniel Elorm Afonope

This study aims to evaluate the moderating impact of corporate governance on the relationship between internal control mechanisms and financial performance.

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Abstract

Purpose

This study aims to evaluate the moderating impact of corporate governance on the relationship between internal control mechanisms and financial performance.

Design/methodology/approach

The study employs a structured questionnaire to collect data from 250 top managers of rural banks in the capital of Ghana. Cronbach alpha value and Fornell-Larcker tests were performed to assess the reliability and validity of the data used. The study adopted a partial least square structural equation model (PLS-SEM).

Findings

The results show that internal control and corporate governance both have a direct positive and significant impact on financial performance. Furthermore, the interaction of internal control and corporate governance also has a positive and significant impact on financial performance, thus confirming the moderating role of corporate governance in the relationship between internal control mechanisms and financial performance.

Practical implications

This implies that organizations need to strengthen their corporate governance procedures to increase the efficiency of their internal control systems, which would ultimately lead to an improvement in their financial performance.

Originality/value

The present study innovates by assessing the moderating role of corporate governance in the nexus between internal control mechanisms and financial performance. This moderating effect assessment implies that corporate governance may not only affect the technical implementation of the internal control structures but will subsequently make an impact on the overall performance of the organization.

Details

African Journal of Economic and Management Studies, vol. 15 no. 1
Type: Research Article
ISSN: 2040-0705

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Article
Publication date: 19 October 2021

Clement Oppong, Achille Dargaud Fofack and Eva Boakye-Yiadom

This study examines the efficacy of public sector audits in providing quality healthcare in Ghana. Specifically, to ensure whether there are proper and adequate controls in place…

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Abstract

Purpose

This study examines the efficacy of public sector audits in providing quality healthcare in Ghana. Specifically, to ensure whether there are proper and adequate controls in place to enable providers to offer necessary health services efficiently, effectively and equitably.

Design/methodology/approach

A structural equation modeling (SEM) is adopted to analyze the link between public sector audit and healthcare delivery through a survey of directors, accountants, auditors and managers in selected public healthcare institutions for a calculated sample size of 123 respondents.

Findings

The study reveals that internal audit, external audit and audit committee have a positive and significant effect on the effectiveness of public sector audits. In turn, the effectiveness of public sector audit has a positive and significant effect on the quality health services. Audit committee is found to have the largest effect on the effectiveness of public sector audits.

Originality/value

This paper extends the literature on the value of public sector audit by providing empirical evidence from a specific context: the public health sector of a developing country in democratic transition with a common law institutional framework. It also provides insights into the financial management of public health systems in developing countries during the ongoing coronavirus disease 2019 (COVID-19) pandemic.

Details

Journal of Economic and Administrative Sciences, vol. 39 no. 4
Type: Research Article
ISSN: 2054-6238

Keywords

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