Journal of Business and Enterprise Development (JOBED)
The Journal of Business and Enterprise Development (JOBED) is a peer-reviewed, Open Access academic journal published by the School of Business, University of Cape Coast to promote research and dialogue in the fields of business and enterprise development. The journal welcomes both theoretical and empirical research, as well as practitioners’ perspectives and book reviews in the following areas: Accounting, Business Law, Development Economics, Entrepreneurship, Finance, Human Resource Management, Management, Marketing, Political Economy, Procurement and Supply Chain Management, Public Administration, Small Enterprise Development, and Management. Open Access Policy All articles published in JOBED are distributed under the terms of the Creative Commons Attribution (CC-BY) license. This permits users to freely copy, redistribute, remix, transform, and build upon the material for any purpose, even commercially, provided appropriate credit is given to the original author(s). Authors submitting their work to JOBED agree to the CC-BY licensing terms. Peer Review Policy All manuscripts submitted to JOBED undergo a double-blind peer review process to ensure academic rigour and objectivity. An initial screening is conducted by the editorial committee to assess the suitability of the manuscript. Submissions that pass this stage are then sent to at least two independent reviewers with expertise in the relevant subject area. The final decision regarding acceptance or rejection rests with the Editor-in-Chief, based on the quality, relevance, and originality of the submission.
School of Business, University of Cape Coast, Cape Coast, Ghana.
Technology integration and employee performance in the health sector of a developing economy
The integration of technology in health service delivery is increasingly recognised as a crucial factor in enhancing employee performance, particularly in developing economies. This study examines the relationship between technological adoption in healthcare settings and its impact on employee performance. The study employed a quantitative approach, an explanatory research design and gathered data via structured questionnaires from 294 health workers at the various health facilities located in Ghana. In addition, the stratified random sampling technique was employed. The data was then processed via IBM SPSS (v.26) and SmartPLS3 software. The study found that the level of technology integration partially mediated the relationship between the nature of technology integration and employee performance. Level of technology integration partially mediated the relationship between the nature of technology integration and the benefits associated with technology integration. It was therefore recommended that the management of health facilities in Ghana should improve the degree of technological integration in health service delivery as a top priority.
Copyright (c) 2026 Relatus Bubune Agbodo, Eric Gonu, Sampson Achina, Evans Frimpong-Manso, Isaac Otoo Moses Segbenya https://creativecommons.org/licenses/by-nc/4.0
Inclusive Innovation for Urban Justice: A Framework for Participatory Social Entrepreneurship
In the recent two decades, Cities face challenges of inequality, exclusion, and uneven development. As an answer to this, an urgent need to rethink how innovation and entrepreneurship can advance justice and inclusion emerged. This paper examines the role of inclusive innovation in shaping socially grounded forms of urban entrepreneurship that could respond to these pressing issues. We did a systematic literature review and conceptual synthesis, and we explored the emerging intersections between inclusive innovation and urban social entrepreneurship. So, from this analysis, we introduce the Urban Inclusive Social Entrepreneurship UISE Framework, which integrates four interrelated layers: Foundational Infrastructure, Social Drivers and Stakeholders, Participatory Processes, and Inclusive Outcomes. We, in the UISE framework, focus on collaboration among local governments, universities, civil society organizations, and communities. Conceptually, we reframe inclusive innovation as a structural and ethical foundation for urban transformation. Practically, we provide policymakers, urban planners, and local entrepreneurs with a roadmap for fostering more just and inclusive cities through participatory and collaborative approaches.
Copyright (c) 2025 Ali Mobini Dehkordi, Seyedeh Sedigheh Ghorashi, Jahangir Yadollahi Farsi, Mahboobeh Vahabi Abyaneh https://creativecommons.org/licenses/by-nc/4.0
Key Drivers for Strategic Organizational Survival in Nigeria: Case of Quantity Surveying Consultancy Firms
The implementation of survival strategy is challenging because of the complexity of making strategic decisions that would ensure the continuous existence of the organization. For quantity surveying firms, several strategies have been suggested to survive challenging and turbulent economic environment. However, these firms are yet to gain insight into the factors that can influence or drive the implementation of appropriate survival strategies. Hence, the need for the study to examine the drivers to implementing survival strategy in quantity surveying firms in Nigeria. The study adopted the survey research approach and through the questionnaire, One Hundred and Thirty (130) quantity surveying firms were purposively selected in South-west, Nigeria. The 99 responses received from the principal partner or senior management personnel of these firms were analysed using descriptive and inferential statistics. From the result, it was revealed that the decision to implement survival strategies in quantity surveying firms is based on the desire of the firm to improve performance, operational efficiency, anticipating changes in firm, innovativeness, technical edge and so on. Additionally, the study categorized the drivers into five distinct factors driving the implementation of survival strategy thereby indicating that quantity surveying firms must focus on both internal and external driving forces. The prioritized drivers are strategic leadership and market intelligence, innovation and competitive edge, policy alignment and performance, cost discipline and project security and growth and competitive positioning. The study concluded that the implementation of survival strategies in quantity surveying firms would be successful when factors that can drive its implementation are carefully considered. Hence, this study suggests that the partners or top management of quantity surveying firms in Nigeria and worldwide should organize summit to deliberate on the pros and cons of implementing strategies as well as the driving force for each strategy.
Copyright (c) 2025 Dorcas Titilayo Moyanga https://creativecommons.org/licenses/by-nc/4.0
Legal Pathways to Inclusive Enterprise: Examining Gender Protection and Empowerment in Ghana’s Affirmative Action Framework
This paper examines Ghana’s Affirmative Action (Gender Equity) Act, 2024 (Act 1121), a landmark legal and policy intervention designed to address persistent gender inequalities in governance, entrepreneurship, and social protection. While affirmative action has historically been a central tool for advancing women’s rights in Ghana—evolving across three distinct generations from the 1960s to the 2020s—the passage of the Act represents the most comprehensive legislative attempt to institutionalise gender equality. Drawing on feminist legal theory, which interrogates the ways laws reproduce gendered power hierarchies, and social protection theory that emphasises redistributive justice and gender-responsive policy, the study interrogates the Act’s transformative potential and limitations. Methodologically, the research employs qualitative thematic analysis of the Act’s key provisions; Sections 3, 17, 24, and Schedule 4, and in-depth interviews with fifteen participants, including gender advocates, students, senior and junior staff of the University of Cape Coast, and a legal practitioner. Findings highlight the Act’s strengths, such as mandating public and private institutions to implement gender equality policies, incentivising compliance through tax relief and procurement preferences, embedding protections for informal sector workers, and establishing monitoring and grievance redress mechanisms. The study also identifies significant implementation challenges, as participants emphasised limited public awareness, cultural barriers restricting women’s opportunities, insufficient financial resources, and weak enforcement mechanisms. Comparative literature suggests risks of elite capture, bureaucratic delays, and urban bias, which could undermine it’s effectiveness. While the Act represents a crucial policy milestone, its success depends on sustained political will, adequate resource allocation, community-level awareness campaigns, and strong institutional enforcement.
Copyright (c) 2025 Janet Serwah Boateng, Joyce De-Graft Acquah https://creativecommons.org/licenses/by-nc/4.0
The Challenges of University Knowledge and Technology Transfer on Entrepreneurial and Industrial Innovation - A Case Study of the University of Rwanda
This study aims at investigating the challenges of Knowledge and Technology Transfer (KTT) in support of entrepreneurial and industrial innovation in Rwanda, particularly the University of Rwanda. The Triple Helix Model, which emphasizes university-industry-government collaboration, and the Technology Transfer Process Model are frameworks used to examine the challenges and opportunities associated with knowledge and technology diffusion and commercialization. A quantitative methodology approach (quantitative surveys) was developed to research what works best from a knowledge-translation point KTT mechanism. The results indicate that though some strides have been made, KTT in Rwanda remains demarcated and, above all, deficient in terms of industrial engagement, institutional support, research funding, and scattered application of the policies. The absence of defined collaborative mechanisms has led to poor commercialization and thus weakened the effect of academic research on development in the economy. This study advocates an AI-driven, KTT framework that is policy-wise consistent and features well-structured university-industry partnerships through AI-powered research matchmaking; digital Intellectual property (IP) management and an improved governmental incentive to fill these gaps. According to the recommendations, the establishment of a National Knowledge Transfer Office (NKTO) will be helpful to enhance commercialization grants, industry-academia training programs, and stronger IP protection policies. Therefore, the modification of the knowledge transfer ecosystem towards a more interactive one is to stimulate the rapid commercialization of research and the enhancement of entrepreneurship, as well as giving Rwanda share to innovation-led economic growth.
Copyright (c) 2025 Bosede Adesuwa Osayande https://creativecommons.org/licenses/by-nc/4.0
Rent Tax Education, Rent Tax Compliance Cost and Rent Tax Compliance in Ghana
This study investigated the moderating role of the cost of complying with the rent tax on the relationship between rent tax education and tax compliance in Ghana, using a quantitative approach with 146 property owners and renters as the audience. Employing PLS-SEM analysis, the research revealed a significant positive relationship between rent tax education and compliance and, between compliance cost and compliance. However, the study found no significant moderating effect of compliance costs on the education-compliance relationship. The Importance-Performance Map Analysis showed that rent tax education was a very important and effective way to get people to comply, while compliance cost was only moderately important and effective. These findings suggest that targeted educational programmes could significantly improve compliance rates for rent tax, while the impact of compliance costs, though positive, is less pronounced. The study recommends investing in extensive education programmes for rent tax, simplifying compliance procedures, and implementing effective communication strategies to enhance voluntary compliance. This paper contributes to an understanding of compliance dynamics regarding rent tax in Ghana; hence, it is valuable information for policymakers and tax authorities in developing focused compliance strategies that would enhance revenue generation in developing economies.
Copyright (c) 2025 Precious Quansah, Vincent Adela, Emmanuel Yaw Arhin, Frank Karikari Agyemang, Mordecai Akondoh Ansah, Samuel Duku Yeboah https://creativecommons.org/licenses/by-nc/4.0
Revisiting and Harnessing the Transformative Power of Social Entrepreneurship in University Education for Sustainable Green and Blue Economy
This study explores the integration of Social Entrepreneurship Education (SEE) within African university curricula, with reference to Nigeria, as a means of preparing socially responsible change agents for sustainable development in the green and blue economy. It aims to: identify the policies (macro) that support SEE; examine the programmes (meso) implemented within selected degree curricula; and evaluate the suitability of tools and methods (micro) adopted by universities to deliver SEE. A qualitative content analysis of policy and institutional documents (including the National Policy on Education, National Development Plan 2021–2025 and the Study Handbook for the bachelor’s degree in Entrepreneurship of a federal university) was conducted using a set of six descriptors developed through an international iterative collaborative framework. Findings indicate critical gaps in existing SEE structures, particularly weak policy alignment, limited contextualization to local green and blue economy opportunities, and inadequate interdisciplinary integration as a key requirement for effective implementation. The study recommends the need for mission-driven SEE policies, territorial learning ecosystems, and the adoption of culturally grounded as well as context-responsive teaching strategies. Embedding SEE more deliberately into higher education in Nigeria could strengthen their contribution to sustainable economic and social transformation.
Copyright (c) 2025 Oyebode Stephen Oyetoro https://creativecommons.org/licenses/by-nc/4.0
Enhancing Higher Education Students' Entrepreneurship in Emerging Economies: An Actionable Process
In principle, emerging countries such as many in Africa offer great opportunities for innovation, growth, and entrepreneurship to serve the growing middle class both locally and in neighbouring countries. Unfortunately, few young graduates from Higher Education Institutions (HEI) engage in entrepreneurship, even many may remain unemployed at the start of their careers or take jobs for which they are overqualified. Preparing the young generation of HEI graduates and encouraging them to choose entrepreneurship as a career option is key to sustaining economic growth and raising qualified job opportunities. This may require a paradigm shift in higher education to go beyond the development of technical and managerial competencies of students, train them in entrepreneurship, and connect them to entrepreneurs, resources, and business ecosystems. This paper aims to contribute to answering the question: What should HEIs' educational and support conditions be to enhance students' engagement in entrepreneurship and have entrepreneurship as an institutionalized career path? This paper provides a conceptual design of a three-stage entrepreneurship development process, namely intention development, opportunity recognition, and opportunity transformation and and related 5S activities, namely, Starting the process, Sensing, Selecting, Shaping, and Seizing entrepreneurial opportunities, to help students progress successfully through the process. The Design Science Research (DSR) paradigm, based on the concept of ‘knowing through making’, is used for the development of the process and the related 5S activities, and for the pragmatic validity of the process. The paper illustrates the relevance of the proposed process by using the Academy of Traditional Arts (ATA) in Casablanca as a case study and draws first conclusions on the process and its practice. For the rigor phase of the DSR paradigm and to further validate the findings, more applied research is needed, both for the review of the proposed design and the evaluation of the impact of the process and the related 5S activities on the rate of generation of graduate entrepreneurs. This will also be done to ensure the adoption and replicability of the process in different contexts.
Copyright (c) 2025 Mohammed Khalil, Mohammed Barkaoui https://creativecommons.org/licenses/by-nc/4.0
The Devil is in the Tails - Modeling the Fat-Tails in Sub-Saharan Africa Equity Markets Using Extreme Value Theorem
This paper investigates the presence and implications of fat-tailed return distributions in Sub-Saharan African equity markets using Extreme Value Theory (EVT). While traditional asset pricing models often assume normality, frontier markets, characterised by low liquidity, regulatory asymmetries, and episodic volatility in returns, frequently exhibit return dynamics that deviate from Gaussian assumptions. We apply both block maxima and peaks-over-threshold approaches to daily equity index returns from selected Sub-Saharan exchanges, including Ghana, Nigeria, Kenya, and Botswana, over a 6-year period. Our findings reveal statistically significant tail heaviness and asymmetric risk exposures across markets, with implications for Value-at-Risk (VaR) estimation, portfolio optimisation, and systemic risk monitoring. The EVT-based models consistently outperform conventional parametric alternatives in capturing extreme downside risk. These results drive home the importance of tail-sensitive risk management frameworks in sub-Saharan stock markets and offer new insights into the structural fragility and resilience of frontier financial systems. The paper contributes to the literature by extending EVT applications to under-represented markets and by providing a robust empirical foundation for regulatory stress testing and financial innovation in the region.
Copyright (c) 2025 Carl Hope Korkpoe, George Amofa Sarpong https://creativecommons.org/licenses/by-nc/4.0
Inclusive Circularity: Empowering Local Communities Through Waste-Based Eco-Enterprises in Kano State, Nigeria
The shift toward a circular economy (CE) offers a significant opportunity to enhance environmental sustainability (ES) while promoting inclusive socioeconomic development (IED). This study investigates the role of waste-based eco-enterprises (WBEEs) as catalysts for environmental transformation (ET) and community development (CD) in Kano, Nigeria, one of West Africa’s largest and most industrialised urban centres. Employing the Inclusive Circularity (IC) framework, it examines how local entrepreneurs and informal waste workers engage in circular business models (CBMs) that transform waste into value-added products (VAPs). Using a qualitative methodology that combines case studies of three successful eco-enterprises with documentary analysis, the study identifies key enablers, challenges, and social impacts, emphasising the contributions of youth, women, and informal actors. It also assesses policy and financing barriers that limit sectoral growth. The findings suggest that with targeted interventions, such as regulatory recognition, capacity-building, and enhanced market access, WBEEs can effectively address urban waste challenges, reduce poverty, and drive grassroots innovation. The paper concludes by proposing a framework for scaling inclusive CE models in similar urban contexts.
Copyright (c) 2025 Muhammad Umar, Hassan Nuhu Wali https://creativecommons.org/licenses/by-nc/4.0
Employment contracts renewal policy and academic talents in the University of Cape Coast: A critical discourse analysis
The paper evaluates the employment contract policy and how it regulates the employment of academic talents at the University of Cape Coast in Ghana. A qualitative research approach, the paper employed the symbolic ethnographic methodology, and the critical discourse analytical tool was employed to analyse the qualitative text produced from two employment contract renewal letters. The analysis revealed that the practice is a problem being sustained by both the authorities of the university and the academics. The analysis further reveals some unfavourable HRM practices, with possible solutions identified and recommended, therefore activating the problem-identification and problem-solving powers of CDA. The study recommends that UCC amend its statutes to discontinue the policy, or a lump sum should be paid at the end of a contract term comparable to some fixed-term office holders in the country. The paper contributes valuable literature and has policy implications for the university authorities and the government on the management of the employment status of PhD-holding university lecturers.
Copyright (c) 2025 Nana Oppong, Anastasia Asante, Charity Abraham https://creativecommons.org/licenses/by-nc/4.0
Socioeconomic Determinants of Entrepreneurship among Older Persons in Ghana
Despite the substantial involvement of older persons in entrepreneurial activities in Ghana, limited scholarly attention has been directed towards understanding the motivations behind enterprise creation in later life. Much of the existing research on entrepreneurship in the country has focused on youth, leaving a gap in knowledge regarding the socioeconomic factors that influence entrepreneurial engagement among older adults. This study addresses that gap by examining the determinants of grey entrepreneurship using a probit regression model applied to data from the Seventh Round of the Ghana Living Standards Survey. The analysis reveals that both necessity-driven factors (gender [woman], limited access to pensions and remittances, and low educational attainment) and opportunity-driven factors (wealth, urban residence, and good health status) significantly shape entrepreneurial decisions in old age. Importantly, the study contributes to the evolving discourse on entrepreneurship by challenging the traditional binary classification of entrepreneurial motivation. The evidence suggests that older entrepreneurs in Ghana navigate a continuum of motivations, influenced by both personal agency and structural conditions. This complexity highlights the need for inclusive and context-sensitive policy interventions. Therefore, the study advocates for the establishment of a non-contributory pension scheme to safeguard the economic security of all older adults and calls for collaborative action among state agencies, credit institutions, and other stakeholders to provide a supportive and enabling environment for entrepreneurial activity among Ghana’s ageing population.
Copyright (c) 2025 George Domfe, Kwadwo Opoku, and Emmanuel Kumi https://creativecommons.org/licenses/by-nc/4.0
Consumption Values and E-Learning Adoption in Higher Education: Evidence from Ho Technical University, Ghana
This study investigated the drivers of e-learning adoption among students at Ho Technical University by integrating Consumption Values Theory and the Technology Acceptance Model. Adopting a quantitative research design, data were collected from 379 students through a Google Form survey and analysed using variance-based structural equation modelling. The results showed that conditional, epistemic, functional, and social values did not significantly influence students’ adoption behaviour toward e-learning. In contrast, emotional value emerged as a significant predictor of adoption behaviour. The findings further revealed that perceived ease of use and perceived usefulness positively influenced students’ intention to use e-learning platforms. In addition, intention to use partially mediated the relationship between perceived usefulness and adoption behaviour whereas intention to use fully mediates the relationship between perceived ease of use and adoption behaviour. Finally, gender did not moderate the relationship between intention to use and adoption behaviour. The study therefore underscores the importance of prioritizing emotional value, usability, usefulness, and behavioural intention in the design of e-learning systems. The study’s novelty lies in its integration of Consumption Values Theory and the Technology Acceptance Model to explain e-learning adoption in higher education
Copyright (c) 2026 Ofosu Amofah, Dominic Owusu https://creativecommons.org/licenses/by-nc/4.0
Efficacy of the Porter’s generic strategies in achieving competitive advantage: The mediating roles of market ambidexterity and firm performance
This study examines the influence of Porter’s generic strategies on competitive advantage [CA] after controlling for the mediating roles of market ambidexterity [MA] and firm performance [FP] in an emergent developing country in West Africa. The study employed the explanatory research design and supported it with a quantitative research approach to measuring and analysing the primary data gathered through drop-and-pick questionnaire administration. Small and medium enterprises [SMEs] operating in the three major business hubs in Ghana were surveyed. SMEs were conveniently selected. 258 cases were used for data analysis. Reflective-formative structural equation modelling was used to test the hypotheses in SMART PLS 4.0. Differentiation strategy [DS] and focus strategy [FS] significantly predicted SMEs’ performance, but cost leadership strategy [CLS] failed. Thus, SMEs were ineffective in using CLS to improve their performance in the COVID-19 era. FP mediated the DS and CA relation. A similar result was the case of the FS-CA predictive relation. However, FP failed to mediate the CLS-CA predictive relation. SMEs should focus on implementing FS and DS if they are to improve their performance. SMES should pursue cost-cutting strategies to reduce the cost of operations COVID-19.
Copyright (c) 2025 Edward Marfo-Yiadom, Lawrence Yaw Kusi, Isaac Nketsiah https://creativecommons.org/licenses/by-nc/4.0
Psychological Distress and Intention to quit. The Moderating role of Compensation among teachers in Second-cycle Institutions in Cape Coast, Ghana.
This research aimed to investigate the link between psychological distress’s dimensions and the intention to quit with the moderating role of compensation system among teachers in Second Cycle Institutions in Cape Coast Metropolis, Central Region of Ghana. The study employed a quantitative approach with a cross-sectional survey and explanatory research design. Using a sample of 167 responses from teachers, a Partial Least Squares Structural Equation Modelling (PLS-SEM) was employed to analyse the relationships among the variables. The findings revealed a significant positive relationship between the various dimensions (emotional, cognitive, behavioural, and physiological) of psychological distress and teachers’ intention to quit. The study also found out that compensation plays a full moderating role in the relationship between psychological distress and the intention to quit. It was therefore recommended that management of Second Cycle Institutions in Cape Coast Metropolis should have a better system of compensation put in place so as to motivate teachers to remain in the profession.
Copyright (c) 2025 Doreen Agyeiwaa Owusu, Samuel Opoku, Nicodemus Osei Owusu, Isaac Kosi, Mark Bigool https://creativecommons.org/licenses/by-nc/4.0
Influence of Celebrity Expertise on Brand Loyalty in the Nigerian Telecommunications Sector
This study assessed the effect of celebrity expertise on brand loyalty in the Nigerian telecommunications sector, while multiple celebrity endorsements served as a moderating variable. A cross-sectional survey research design was adopted. A structured questionnaire was used as a research instrument. A sample size of 2000 respondents, out of which 1200 complete responses were judgmentally selected for final analysis. Data were analysed using Pearson’s Product-Moment correlation and multiple regression. The findings revealed that there is a positive and significant relationship between celebrity expertise and brand loyalty (r = 0.558, p<0.05); while multiple celebrity endorsement has a significant effect on the relationship between celebrity expertise and brand loyalty (F(2, 1195) = 2484.682, p<0.05, Adj. R2 0.327). The study concluded that celebrity expertise exerts a great influence on brand loyalty. It is recommended that telecom service subscribers should base the adoption of telecom services being promoted by a celebrity on the expertise of the endorser. The telecom service providers should engage the services of celebrities who possess behavioural expertise that are in congruence with customers’ values and interests.
Copyright (c) 2025 ISAAC ONIGBINDE, ISAAC, ADENIKE , OLALEKAN https://creativecommons.org/licenses/by-nc/4.0
Assessing the asymmetric and nonlinear effects of economic policy uncertainty on financial soundness in Ghana
The study seeks to investigate the impact of economic policy uncertainty (EPU) on the financial soundness of the banking industry of Ghana. The study used time series data for economic policy uncertainty and financial soundness for a period covering from January 2006 to April 2023 with 208 observations for its analyses. The study employed the quantile regression method for the regression. The results of the study indicated that economic policy uncertainty has a negative effect on the financial soundness of the Ghanaian banking industry and is statistically significant at the 1% level across all quantiles. Moreover, the results revealed a positive effect of the interaction term between EPU and non-performing loans which is also statistically significant at the 1% level. The study recommends that policymakers should prioritize the cultivation of clear communication and policy formulation consistency to establish a more foreseeable economic milieu. It is also recommended that financial institutions operating in Ghana enhance their risk management practices and carefully evaluate the potential benefits of diversifying their portfolios and business models.
Copyright (c) 2025 GEORGE TWENEBOAH https://creativecommons.org/licenses/by-nc/4.0
Connectedness of AI and Islamic stocks: Evidence from frequency-domain quantile regressions
This study explores the dynamic relationship between artificial intelligence (AI)-based stocks and Islamic stock indices. Motivated by the rising prominence of AI in global finance and the ethical appeal of Islamic investing, the study investigates whether AI stocks offer hedging, diversification, or safe haven potential relative to Islamic assets. Daily data from January 1, 2019, to April 13, 2024, is employed, covering the NASDAQ CTA Artificial Intelligence and Robotics Index (as the proxy for AI stocks), along with the Dow Jones Islamic Market World Index, United States and Canada. Using the Empirical Mode Decomposition (EEMD) with Quantile Regression techniques, the analysis captures the asymmetric relationships across different investment horizons and market states. The results reveal that AI stocks generally move in tandem with Islamic stock indices during stable and bullish markets, offering limited diversification benefits. However, in bearish markets, particularly over the long term, AI stocks exhibit a negative relationship with the global and U.S. Islamic indices, indicating potential safe haven or hedging roles. No such hedging benefit is observed concerning the Canadian Islamic index. Additionally, Islamic indices do not serve as effective hedges for AI stocks across any market regime. These results offer detailed insights into the asymmetric co-movement patterns between AI-related stocks and Islamic equities. It offers practical implications for ethical and tech-focused investors, suggesting that AI stocks may enhance portfolio resilience under specific market conditions. Policymakers and financial product designers can also leverage these insights to integrate emerging technologies into Shariah-compliant investment strategies better.
Copyright (c) 2025 John Gartchie Gatsi, Samuel Duku Yeboah, Peterson Owusu Junior, Samuel Kwaku Agyei, Gorkel Obro-Adibo https://creativecommons.org/licenses/by-nc/4.0
Effect of Financial Exclusion on Consumption Inequality across Settlement and Employment Types in an Emerging Economy
In the quest to reduce inequality in its various forms, researchers, policymakers, and industry players have embarked on efforts to uncover empirical evidence that could inform policy-driven recommendations. However, few studies have analysed how financial exclusion may influence consumption inequality. This study employed the Ordinary Least Squares (OLS) method to model the relationship between financial exclusion and consumption inequality using the 7th wave of the Ghana Living Standards Survey (GLSS7). Financial exclusion significantly contributes to consumption inequality, with notable variations across different employment types and settlement areas. Non-digital and digital financial exclusion have a more pronounced influence on consumption inequality in rural areas than in urban areas. Additionally, households led by public sector workers and the unemployed experienced greater levels of consumption inequality due to financial exclusion, compared to those led by self-employed or privately employed individuals. This study highlights the role of financial inclusion in addressing consumption inequality and stresses the importance of reducing both digital and non-digital financial exclusion to create a more equitable society. To this end, the study recommends that the National Commission for Civic Education (NCCE) implement financial literacy programmes in local languages, particularly targeting rural areas. The novelty of this study lies in its focus on the employment sector of household heads and its examination of both digital and non-digital financial exclusion, providing a unique perspective on how these forms of exclusion affect consumption inequality across varied demographics.
Copyright (c) 2025 Seyram Kawor https://creativecommons.org/licenses/by-nc/4.0
Determinants of audit automation adoption among audit firms in Ghana
Automation is widely recognised to be revolutionising the auditing profession. Despite the known benefits, it is reported that auditors are not fully leveraging the potential value of certain automated tools and techniques. To understand why, this study aims to draw on the unified theory of acceptance and use of technology (UTAUT) to empirically examine the determinants of audit automation adoption by audit firms in Ghana. The study conforms to the positivist paradigm which agrees with the quantitative approach and an explanatory research design; structured questionnaires were administered to 190 respondents from various audit firms in good standing with the Institute of Chartered Accountants Ghana (ICAG) using Google Forms. Partial least squares structural equation modelling (PLS-SEM) via Smart PLS was used for the analysis and testing of the hypotheses. Importance performance map analysis (IPMA) was conducted to enhance a deeper understanding of the findings. Performance expectancy and effort expectancy have a positive and significant influence on audit automation adoption by audit firms in Ghana. This implies that auditors will be willing to use audit automation when they perceive that it will enhance their performance and that the use of audit automation will mean less effort will be required from the auditors. The study contributes to the literature by advancing the understanding of the importance of performance expectancy and effort expectancy as determinants of audit automation adoption. This extends the theoretical understanding of the UTAUT model.
Copyright (c) 2025 Cornelius Adorm-Takyi, George Tackie , Anthony Adu-Asare Idun https://creativecommons.org/licenses/by-nc/4.0
Global risk aversion and returns from faith-based assets across market conditions
Abstract This study renders an empirical documentation of the resilience of Islamic stocks, from various sectors of economic activity, as a safe-haven and hedge against global risk aversion (GRA) during bullish, normal, and bearish market conditions. Using the causality-in-quantiles and quantile regression techniques, the analysis reveals that (i) GRA significantly predicts the returns from Islamic stocks across quantiles, (ii) faith-based stocks belonging to both the “real” and “services-driven” sectors retain their safe-haven and hedge attributes against GRA across various economic conditions, and (iii) assets from the real sector are more attractive than those from the services-driven sector. These findings underscore the importance of sectoral composition in determining the effectiveness of faith-based assets as risk mitigation tools. Moreover, the asymmetric and nonlinear dependence structures observed across quantiles suggest that investors' preferences for Islamic equities are heightened during periods of elevated global uncertainty. The study contributes to the growing body of literature on ethical investing by offering fresh insights into the dynamic relationship between global risk aversion and the performance of Islamic financial instruments. Policy implications are discussed for portfolio managers, institutional investors, and regulators aiming to enhance market stability through diversification into resilient, faith-based asset classes.
Copyright (c) 2025 Samuel Kwaku Agyei, Edward Marfo-Yiadom, Anthony Adu-Asare Idun, Ellen Anima Agyei, Samuel Duku Yeboah https://creativecommons.org/licenses/by-nc/4.0
Effect of Employee Job Satisfaction on the Relationship Between Leadership Styles and Psychological Well-Being Among Health Workers in a Developing Economy: The Quantitative Approach
This study examined the effects of transformational and servant leadership styles on the employees’ psychological well-being as well as the mediating role of job satisfaction in the relationship between transformational leadership and servant leadership styles and the psychological well-being of the employees. This quantitative and explanatory-based study employed the leader-member exchange theory. Structured questionnaire was employed to gather primary data from 155 out of over 300 health workers in a developing economy through the simple random sampling technique. The data was then processed with the IBM SPSS and Smart-PLS 4.0. Based on the PLS-SEM technique. The study found that transformational and servant leadership styles positively affected the psychological well-being of health workers in a developing economy. Also, job satisfaction partially mediated the relationship between transformational leadership style and the health workers’ psychological well-being. It was also found that job satisfaction significantly mediated the relationship between servant leadership style and employee well-being in the health sector of a developing economy. The study concluded that the presence of employee job satisfaction indirectly improves the relationship between leadership styles and psychological well-being in the health sector. It was recommended that the management of health facilities in developing economies should adopt and/or improve upon the transformational and servant leadership styles to attain employee satisfaction and thereby, strengthen their psychological well-being.
Copyright (c) 2025 Eric Gonu, Naomi Asumasem Abilla, Moses Segbenya https://creativecommons.org/licenses/by-nc/4.0
WFC Work-Family Conflict and Employee Performance in Ghanaian Universities: A Multivariate Analysis of Mediating and Moderating Variables
This study examines the impact of work-family conflict on employee performance in Ghanaian universities, exploring mediating and moderating factors. Three mediating variables (affective commitment, family-related factors, and work-related factors) and one moderating variable (sex) were examined concerning the impact of work-family conflict on employee performance. A simple random sampling technique was used to select a sample of 310 respondents from the senior staff of the University of Cape Coast. The questionnaire was used to gather data, which was analysed using the Partial Least Squares-Structural Equation Modelling (PLS-SEM). Key findings revealed that family-related and work-related factors fully mediate the work-family conflict-staff performance relationship. Hence, to ensure optimal employee performance, the University of Cape Coast should encourage workers to effectively balance their work-related and family-related factors. Additionally, the moderating role of sex in the work-family conflict-performance link indicates that work-family conflict affects female senior staff performance at the university than their male counterparts. This study highlights novel mechanisms (family-related factors, work-related factors, sex) through which work-family conflict impacts employee performance. The study recommends that organisations should adopt balanced approaches to reduce work-family conflict. This study contributes to understanding work-family conflict's impact on employee performance, emphasizing the need for balanced work-life approaches in Ghanaian universities. By addressing work-family conflict, organisations can promote optimal employee performance and gain a competitive advantage.
Copyright (c) 2025 Emmanuel Tchouchu, Mark Bigool, Evelyn Esi Tchouchu https://creativecommons.org/licenses/by-nc/4.0
The Marketing Strategies of International Restaurant Chains (IRCs) in Tanzania:
This paper explores the customisation dynamics of 7Ps in marketing of IRCs in Tanzania for strategic marketing adjustments to perpetually satisfy consumers and reinforce dedication to their vision and mission. Without orthodoxy marketing strategies, companies may crumble due to internal and external organizational pressures. In today’s competitive restaurant business, where customers have more dining choices than before, as a result, customer expectations are ever increasing and demanding. In view of the growing phenomenon toward eating-out, knowledge of the criteria used by customers in the selection of a restaurant is strategic in understanding food consumption trends. Qualitatively determining factors influencing the selection of restaurants were tracked, utilizing cross-sectional descriptive and exploratory surveys for discovery of study related ideas and insights through content analysis. The population of all 12 IRCs was used. Primary data was collected using interview method. The results show that all the IRCs have customized their 7Ps invariably depending on their target market. The reluctance to customise has led some of them to exit the market. It is recommended that (i) IRCs should collect and mine data for deeper customized strategies to improve customer loyalty and retention; (ii) appropriate classification of restaurants based on acceptable parameters; and (iii) inclusion of local products, tribal-cooking techniques and display in menu and franchising proposition. The implications are grounded to the fact that with customized 7Ps, IRCs can introduce limited time offerings to attract repeat customers and use pure bundling to increase average order value. The rise in vegetarianism and veganism due to health or ethical reasons would be beneficial for restaurants to communicate with their customers. Through deeper customization of 7Ps, restaurants can introduce value meals to enhance affordability, reach a wider target audience and enable sustainable performance.
Copyright (c) 2025 Freddy Jirabi Gamba https://creativecommons.org/licenses/by-nc/4.0
Navigating the Dual Demands: The Impact of Polychronicity, Work-School Facilitation, and Organisational Support on Academic Performance among Ghanaian Postgraduate Students.
This study investigated the impact of polychronicity, work-school facilitation, and organisational support on the academic performance of postgraduate distance students in Ghana. The quantitative approach and explanatory research design were employed. The researchers collected data from 341 postgraduate students across three universities offering distance education programs via a structured questionnaire. The research utilised a three-wave survey approach and analysed the data using structural equation modelling. The results showed that polychronicity does not significantly affect academic performance. The study found that work-school facilitation fully mediates the relationship between polychronicity and academic performance of postgraduate students. Finally, organisational support significantly moderates the relationship between polychronicity and both academic performance and work-school facilitation. The findings suggest that organisational support is crucial in mitigating the potential stress associated with multitasking and in easing better academic outcomes. This study contributes to the existing literature by highlighting the importance of organisational support and work-school facilitation in enhancing academic performance. It provides practical implications for educational institutions and employers to create supportive environments that can improve student outcomes.
Copyright (c) 2025 Richard Kofi Boateng, Salomey Ofori Appiah https://creativecommons.org/licenses/by-nc/4.0
Implications of Monitoring and Evaluation Systems for SMEs in some Selected Metropolis in Ghana
The purpose of this research was to examine how monitoring and evaluation systems affect small and medium-sized businesses in selected Ghanaian metropolises. The research design used was explanatory. The population for this study comprised owner-managers of SMEs in Ghana captured in the GEA and the AGI databases. From these two sources, a sampling frame was created for those in the selected metropolis. This gave a total population size of 1,189. For this frame, a sample of 423 SMEs was selected comprising SMEs from the Sunyani, Accra, Kumasi, Cape Coast, and Tamale metropolitan areas. The sample size for the study was 423 SMEs. The primary data collection tool was a self-administered questionnaire. Data was collected, cleaned, and coded before being entered into statistical software programs like SPSS and Smart-PLS. For the study's key findings, it was noted that the SMEs that took part in the study had monitoring and evaluation practices in place. The third and fourth objectives showed that monitoring and evaluation systems had a significant effect on both business resilience and business sustainability, respectively. It was discovered that monitoring and evaluation systems had a large and favourable effect on business growth and the digitalisation business respectively, for objectives 5 and 6. The study recommended that managers of SMEs within the selected area improve upon their monitoring and evaluation systems. This will increase the effect it will have on their resilience, growth, sustainability and digitalisation.
Copyright (c) 2024 Daniel Agyapong, Gloria Agyapong, Bernard Agyei-Poku https://creativecommons.org/licenses/by-nc/4.0
Leveraging Architecture Development Methodology to Enhance AfCFTA’s Success
This study analyses the application of the Architecture Development Method and the creation of bespoke ADM-based architecture for African Free Trade Continental Area (AfCFTA), using the existing architectural artefacts and TOGAF Architecture Continuum. Central to this objective is the establishment of an AfCFTA customised Architectural Management System (AMS). The AMS integrated application provides an architectural repository, workflow management, collaboration tools, documentation, reporting and analytics, integration capabilities, and robust security measures. The study’s research design is qualitative and characterised by the use of a descriptive and exploratory approach. Data analysis methods include content analysis of qualitative data, thematic analysis of TOGAF architecture repository principles, standards, and guidelines on AfCFTA, comparison of different trade agreements for AfCFTA and narrative synthesis on how ADM can enhance AfCFTA’s operational framework. The research findings report that the Architectural Development Methodology within TOGAF improves resource distribution, cross-border collaboration and regulatory coherence thereby increasing operational effectiveness. It makes theoretical contributions by embedding directions that can be adopted across AfCFTA for architecture development and regional trade. This paper demonstrated the value of leveraging existing architectural artefacts with practical contributions specifying the necessity of an Architecture Development Methodology supported by an Architecture Management System. The significance of strong business, information and technological architectures, the importance of standards, principles and guidelines which harmonise trading costs and the importance of the stakeholder role in making sure AfCFTA is successful are underlined by the study. Future studies should focus on the quantitative estimation of the impact that ADM has on trade operations optimisation with the introduction of new technologies and full-fledged implementation of AMS and ADM. Designed to suit the peculiar challenges and opportunities of AfCFTA, this research promotes regional trade integration, sustainability and economic growth in Africa that would benefit businesses through increased operational efficiency and competitiveness.
Copyright (c) 2024 Michael Agyekum Bremang https://creativecommons.org/licenses/by-nc/4.0
A critical analysis of Rwanda’s Digital skills and entrepreneurship training toward solving youth unemployment
This study critically examines the role of digital skills and entrepreneurship training in addressing the persistent issue of youth unemployment in Rwanda. The paper primarily anchors on the Human Capital Theory and Entrepreneurship Theory to provide a solid theoretical framework, tying together education, skill development, and entrepreneurial activity as vital drivers of productivity, job creation, and economic development. By employing a qualitative methods approach that utilises qualitative stakeholder interviews, this research evaluates the effectiveness of the various policies and programs aimed at fostering digital and entrepreneurship skills to young people in Rwanda, to promote employment. The research unveils that these programs hold significant potential in equipping the Rwandan youth with relevant skills and nurturing an innovative and entrepreneurial culture. However, it also highlights key areas requiring attention: the lack of robust follow-up mechanisms and the need for continued support post-training. It advocates for policymakers and program implementers to prioritize these aspects to maximize their initiatives' impact. The implications of this study extend beyond Rwanda's borders as countries worldwide grapple with similar challenges. Therefore, the insights gleaned from Rwanda's approach could guide other nations in leveraging digital skills and entrepreneurship training to combat youth unemployment in the digital age. It concludes by recommending future research directions, including maintaining program relevance in the ever-evolving digital landscape and instituting more effective support mechanisms for venture sustainability.
Copyright (c) 2024 Adio-Adet Tichafara Dinika https://creativecommons.org/licenses/by-nc/4.0
Youth involvement in rice production: A panacea for youth restiveness in Anambra State, Nigeria
There is a great concern about youth restiveness due to growing unemployment in Nigeria, whereas agriculture is a huge business space with the potential for youth involvement and employment. The study sought to ascertain the level of youths' involvement in rice production in Anambra State, Nigeria. Eighty youths were purposively selected because of the preponderance of rice production in the area. Data were collected using a structured interview schedule and were analysed using mean, standard deviation, and multiple linear regression. The study revealed that youths were into the planting of rice seedlings, buying and selling of seedlings, harvesting, and fertilizer application. Sex and level of education significantly influenced youths' involvement in rice production. The youths were constrained majorly by the high cost of inputs, and lack of funds to expand production. Adequate and comprehensive training on rice production and enforcement of practical agriculture curricula in schools were identified as possible strategies for improving youths' involvement in rice production. The study concluded that youth were into rice production though influenced by their level of education and sex. The government should make rice production attractive to the youth by eliminating the constraining factors associated with it.
Copyright (c) 2024 Clement Okechukwu Attamah, Francisca Ebubechukwu Nwosu https://creativecommons.org/licenses/by-nc/4.0
Occupational Gifting and Entrepreneurial Development among the Fantse of Ghana
This paper, derived from ethnographic research projects on the indigenous social and economic systems of the Fantse, conducted in Mankesim and Abura Markets in the Central Region of Ghana noted that the lack of credit facilities from the formal banking sector makes many youthful entrepreneurs rely on family and friends for start-up capital. Using the model of capital accumulation developed by Das, Mourmouras, and Rangazas (2018), the paper argues that occupational gifting offers opportunities for the aged to give out their lifetime savings and expertise in return for care and thereby creating avenues for the youth to raise capital to revamp existing small-scale family businesses to provide them with employment and facilitate effective care of the aged. The paper concludes that occupational gifting helps to guarantee a stable means of income and financial security for both the youth and the aged. It recommends that occupational gifting should be encouraged by making the youth accept businesses gifted to them and applying modern business strategies to develop such enterprises to help achieve the SDGs associated with the well-being of both parties, particularly, SDGs 1, 3, 5, 8 and 16.
Copyright (c) 2024 Alex Wilson, Anasthascia Boateng https://creativecommons.org/licenses/by-nc/4.0