Firms In Ghana Research Articles

From high-performance work systems and resilience to employee well-being during crises: exploring the moderating role of employee ambidexterity

This study examines the moderating role of employee ambidexterity on how high-performance work systems and employee resilience relates to organisational resilience and employee well-being during crises. Additionally, it explores the influence of organisational resilience on employee well-being during crises. This study used a quantitative approach. Two-wave cross-sectional data were obtained from 324 employees of pharmaceutical manufacturing firms in Ghana and analysed using Structural Equation Modelling-Partial Least Squares. The findings indicated that a high-performance work system plays a crucial role in enhancing the link between organizational resilience and employee well-being. Although employee resilience was found to influence on organizational resilience and employee well-being positively, this effect is not statistically significant. The results also indicate that the role of exploitation ambidexterity is vital in strengthening the relationship between high-performance work systems, employee resilience, organizational resilience, and employee well-being, particularly during crises. This provides a comprehensive analysis of the influence of high-performance work systems, employee resilience, and employee ambidexterity on both organizational resilience and employee well-being. Additionally, using personal and organisational resources to examine how they promote employee well-being during crises empirically provides new insights into resilience and well-being literature.

Capital structure and financial performance of listed non-financial firms in Ghana

Capital structure and its impact on firm performance is a key issue in finance, and there are a number of theories and empirical papers that explain this relationship. Using secondary data from listed companies that have traded on the Ghana Stock Exchange (GSE) from 2016 to 2020, the study specifically examines the effect of short-term debt, long-term debt, and total debts on the operational efficiency of listed non-financial companies in Ghana. The study shows that a firm's return on assets decreases as its amount of debt accumulation rises. Also, some firm-specific variables have small but significant impacts on enterprises' profitability. The study recommends that, to ensure that there is adequate cash available for the company's ongoing operations, corporate finance managers should ensure working capital is managed properly and responsibly. Also, in the extreme case where a short-term borrower facility is unavoidably required and must be acquired, the study advises administrators to make sure that the total amount of short-term obligations taken on as a percentage of the capital structure is less than the sum of non-current liabilities and equity in total assets.

Road Transport Infrastructure and Supply Chain Performance in the Beverage Manufacturing Setting: Does Road Safety Compliance Matter?

Purpose: Despite the growth of literature on SC performance drivers, there is still limited attention on how road transport infrastructure may drive SC performance. This study is conducted to examine the mediating role of road safety compliance in the relationship between road transport infrastructure and SC performance among manufacturing firms in emerging economies. Design/methodology/approach: Drawing from the system and knowledge-based view perspectives, a framework was proposed and validated using survey data from the beverage manufacturing firms in Ghana. Data were gathered from 359 managers of firms in Ghana. The model was validated by PLS-SEM. Findings: The results showed a direct significant relationship between road transport infrastructure, road safety compliance, and SCP. The findings further revealed that the influence of road transport infrastructure on SCP is not just a bivariate relationship but also mediated through road safety compliance. The outcome of this study provides evidence that though road transport infrastructure remains crucial to driving SCP, superior SCP could be achieved in the presence of road safety compliance. Originality/value: The outcome of this study offers an important extension to the frontiers of literature on supply chain performance. It also provides practical insight to practitioners in the manufacturing setting by emphasizing the need to pay crucial attention to road safety compliance as well as invest in road infrastructure development in the quest to achieve efficient SC performance of firms.

Unpacking the role of green absorptive capacity in the relationship between green supply chain management practices and firm performance

PurposeThis study examines green absorptive capacity as an important intervening variable that elucidates the relationship between green supply chain management (GSCM) practices (specifically, green purchasing, customer cooperation and investment recovery) and firm performance.Design/methodology/approachDrawing from the theoretical underpinnings of the natural-resource-based view theory and information processing theory, a research model is developed and tested using data obtained from 368 manufacturing firms in Ghana. Data analysis was conducted using structural equation modeling.FindingsThe results indicate that green purchasing, customer cooperation and investment recovery have a direct positive and significant effect on firm performance. Additionally, green purchasing and customer cooperation have a positive and significant effect on green absorptive capacity but investment recovery does not. Further, the results show that the paths from green purchasing and customer cooperation to firm performance are positively mediated by green absorptive capacity.Practical implicationsThe study reveals to supply chain managers that green absorptive capacity is an important conduit through which firms can achieve enhanced firm performance from GSCM initiatives.Originality/valueThis study makes a contribution by integrating the absorptive capacity literature and green management literature and establishes green absorptive capacity as a mechanism through which GSCM practices enhance firm performance.

Socially responsible investment practices and implementation approaches: A case study of listed extractive firms in Ghana

Socially responsible investment practices and implementation approaches: A case study of listed extractive firms in Ghana

Effect of supplier appraisal on firm performance in Ghana: Views of employees of selected manufacturing firms

In Ghana, recent financial sector clean-ups and reforms have impacted the operations of several corporations in the business-to-business market. Coupled with this, several issues have been reported concerning procurement practises in the past few years. Regardless of corporate governance practises and public procurement regulations, institutions in Ghana are yet to fully realise the relevance of supplier appraisal. Grounded by the resource base theory, the study examines the effect of appraisal of suppliers’ financial stability, technical capacity to produce, adherence to systems and procedures, conformance to legislation, and suppliers’ supply chain on the performance of industrial firms in Ghana. A sample of 171 employees was drawn from a total of 250 employees. Data processing and analysis were undertaken through the partial least squares structural equation modelling (PLS-SEM) estimator. The results clearly suggest that firms’ technical capacity does not constitute firm resources that translate to firm performance. However, firms’ financial stability, adherence to systems, conformance to legislation, and supply chains are regarded as firm resources that contribute to the overall performance of the firm. We conclude that supplier evaluation is a significant predictor of manufacturing firms’ performance.

The Effects of Cash Flow Management on the Financial Performance of Listed Manufacturing Firms in Ghana

The Effects of Cash Flow Management on the Financial Performance of Listed Manufacturing Firms in Ghana

Does going intellectually green matter? Accentuating the role of eco-innovation speed and quality in a competitive post-Covid 19 emerging market

PurposeThe post-pandemic emerging market is competitive and green, which has contributed to the growing pressure on firms to adopt into their business models green strategies with competitive outcomes. Therefore, this paper aims to draw from the natural resource-based view (NRBV) theory to examine how green intellectual capital (IC) can influence green competitive advantage of manufacturing firms in Ghana, by elucidating the mediating role of eco-innovation speed and quality in the relationship.Design/methodology/approachCross-sectional survey data were obtained from 212 manufacturing firms in Ghana, using purposive sampling techniques. Exploratory and confirmatory factor analyses were conducted to determine the factor structure of the measurement models. Structural equation modelling technique was used to analyse the hypothesized relationships.FindingsThe study found that green IC has a positively significant effect on green competitive advantage of manufacturing firms. However, while eco-innovation speed positively mediates the relationship, eco-innovation quality plays a negative mediating role in the effect of green IC on green competitive advantage of manufacturing firms in Ghana.Practical implicationsThe framework of this study provides to managers of manufacturing firms, a superior green strategy that is unique, valuable and non-substitutable with the capable to provide green competitive edge to firms in a turbulent sustainability-driven market.Originality/valueThrough the lens of the NRBV theory, this study provided a firstly knowledge on the crucial role of eco-innovation speed and quality in driving firms’ green competitive advantage within a post-covid emerging market.

Intellectual Capital Efficiency and Risk-Taking Behaviour of Insurance Companies in Ghana

ABSTRACT Our study focused on the link between intellectual capital efficiency (ICE) and its individual components and underwriting risk. It examined the effect of ICE, and structural (SCE) and human capital (HCE) efficiency on the underwriting risk of Ghanaian life and non-life insurers. It used panel data of 31 insurance firms in Ghana, of which 14 and 17 were life and non-life insurers, respectively, from 2008 to 2019. A generalized least squares estimation technique was used to examine the relationship between ICE and underwriting risk in life, non-life, and the entire insurance sector. The results suggest that there is a significant negative relationship between HCE and underwriting risk in the Ghanaian insurance sector. However, there was no relationship between ICE and underwriting risk and between SCE and underwriting risk. As the first to examine ICE and risk-taking behavior in any African country, our study is significant in managerial decision-making and insurance policy formulation to reduce risk in the insurance industry.

Implementing Total Quality Management Principles in The Apparel Manufacturing Sector: Ghana in Perspective

This study focused on understanding the implementation of TQM in the apparel manufacturing sector. Due to the lack of TQM studies in Ghana and especially in the apparel manufacturing business, there was a need to conduct a study to reposition the operational strategies in the apparel sector in Ghana.A mixed-method approach was employed to attain valid, reliable and reproducible conclusions. The population focused on apparel manufacturing firms in Ghana. Questionnaires and interviews were employed to gather data.The key findings indicate that the fundamental obstacle to implementing TQM was the lack of knowledge and misunderstanding of TQM principles and their benefits by both owners and workers alike, as well as outdated technology and poor infrastructure. Again, in the context of Ghana, financial constraints posed a significant challenge.

Pressured Chains: The role of Supply Chain Technology Utilisation

The institutional theory elucidates that businesses seek to provide a reasonable and relevant explanation for their behaviour because they are motivated by the need for social justification within institutional settings that shape their strategic directions and decisions. This study examined the supply chain performance implications of institutional pressures and supply chain technology among Ghanaian firms. The study employed the quantitative method and survey design. Data was sourced from 394 managers of small to large-scale firms operating in the Greater Accra Metropolis of Ghana. Data were analysed using Structural Equation Models (SEM). The study found that institutional pressures positively relate to supply chain performance. It was also discovered that supply chain technology utilisation (SCTU) mediates the relationship between Institutional pressures (INP) and supply chain performance (SCP). The finding shows the relative importance of INP and SCTU on the performance of supply chains of firms in Ghana. The study recommended that firms in Ghana and Africa must pay critical attention to supply chain technology to enhance their supply chain operations. The study provides practical implications for firms by highlighting the importance of institutional pressures and supply chain technology utilization in supply chain performance. This will provide firms with the insight to identify the most important institutional pressures that affect their supply chain technology utilization and performance. The study also encourages the use of technology in supply chain management. This can lead to more efficient and effective supply chains, which can help society by lowering prices and making more products available. The study is unique in its focus as it attempts to shift the discourse beyond how institutional pressures influence firms’ environmental and sustainability performance to how they impact supply chain performance.

Challenges to implementing circular economy: empirical evidence among built environment firms in Ghana

This study examines the challenges built environment (BE) professionals (comprising Contractors/Construction Managers, Architects, Engineers, Project Managers, Real Estate Practitioners, and Quantity Surveyors) encounter in implementing the principles of circular economy (CE) in the Ghanaian building industry (GBI). A structured questionnaire survey was used to solicit the views of 162 industry professionals working in construction, consulting, and developer firms on the issue under investigation. The questions were developed through a review of related literature. Data obtained were analyzed via descriptive (i.e. mean score ranking) and inferential statistics (i.e. Kruskal-Wallis H test, exploratory and confirmatory factor analyses). The findings reveal that BE professionals encounter seven major categories of challenges. These are knowledge and facilities challenges, market orientation and operational challenges, financial challenges, environmental and regulatory challenges, preferential challenges, technological challenges, and industrial and consumer-related challenges. This finding can inform the various construction industry stakeholders of the challenges currently encountered in implementing CE principles. Furthermore, these identified challenges must encourage concerted efforts among stakeholders to find ways to boost the practice of CE principles in the GBI.

Green culture, environmental innovativeness, green intellectual capital and circular economy implementation behaviour: A sequential mediation model

Although corporations have been propelled to adapt eco-innovation strategies including decent work practices, responsible consumption and production, and transition from linear economy to circular economy model to integrate natural ecosystems, businesses, and waste management, inversely, the actual impact of the circular economy implementation (CEI) in Ghana is yet to be felt. This paper aims to analyse the implications of corporate green culture (CGC) on CEI behaviour, and to design a model that explains the mediating roles of environmental innovativeness (EI) and green intellectual capital (GIC) on the relation between CGC and CEI behaviour from the perspective of a lower resource economy context. Our paper is positioned on positivists’ reasoning and quantitative research approach. A survey-based structured questionnaire has been used to collect data from 300 manufacturing firms in Ghana. Our hypotheses have been tested with the aid of SMART-PLS and structural equation modelling. The indicative results have shown that CGC positively affect CEI behaviour. Moreover, EI and GIC have significant and positive effects on CEI behaviour, Besides, GIC serves as a medium through which CGC indirectly impacts on CEI behaviour. The implications of the study include the emergence of baseline model to encourage CEI behaviour in Ghana and other Sub-Saharan African countries. The paper recommends that the newly developed model be used by practitioners to explain coordinated economic, ecological and social development, and restore ecological environment. Policymakers are encouraged to facilitate the reinforcement of environmental policies and subsequent realization of Sustainable Development Goals.

The influence of the COVID-19 pandemic on audit fees and audit report timeliness of listed firms in Ghana

The influence of the COVID-19 pandemic on audit fees and audit report timeliness of listed firms in Ghana

Factors Influencing Adoption of Sustainable Supply Chain Management Practices Among Manufacturing Firms

There is a significant gap in emerging nations such as Ghana on factors influencing the adoption of Sustainable Supply Chain Management (SSCM), as most of these studies are conducted in advanced nations. As a result, this study investigates the factors influencing manufacturing companies in Ghana's adoption of SSCM practices. Three hundred and three 303 manufacturing firms with an annual turnover of not less than one million dollars ($1,000,000) were purposively selected for the study. Throughout the study, close-ended questionnaires were adopted for the data collection. Structural equation model (SEM) was used to examine empirically the factors that influence the firms’ adoption of SSCM. The study revealed that adoption of SSCM is influenced by instrumental, moral, and knowledge factors. Based on the study outcomes presented and discussed, the study concluded that instrumental, relational, moral and knowledge factors affected the adoption of SSCM practices by firms in Ghana
 Further studies on the subject can adopt a case study approach, as this method will be able to investigate the topic in a manner that allows for a more in-depth comprehension of the subject in a particular context.

The Effect of Supply Chain Digitalization on Internal Supply Chain Integration of Cement Manufacturing and Distribution Firms in Ghana

Purpose: The purpose of this study is to assess the effect of supply chain (SC) digitalization on the internal supply chain integration of firms with a focus on cement manufacturing and distribution firms in Ghana.
 Design/Methodology/Approach: The study adopted the cross-sectional quantitative research design from 114 key players and administrative staff of cement manufacturers and distributors in Ghana using a purposive sampling technique and the use of a questionnaire for gathering the data.
 Findings: The findings revealed a positive, moderate relationship between the drivers of SC digitization and internal SC integration; a negative, moderate relationship between the challenges of SC digitization and internal SC integration; a positive, strong correlation between the extent of SC digitization and internal SC integration. All the relationships were significant. Also, the drivers and inhibitors of SC digitisation revealed both positive and negative associations with the extent of SC integration.
 Research Limitation: The selected firms are not fully representing the entire population of cement manufacturing and distribution firms in Ghana, which impact on the external validity of the findings.
 Practical Implications: The results will help increase the performance of cement production firms and improve its SC integration. Firms invest resources in the digitalization of its SC to further improve internal SC integration.
 Originality/Value: The study examines the relationship between supply chain digitalization and internal supply chain integration. While digitalization has been widely studied in supply chain management, the specific focus on how it impacts internal supply chain integration in the context of cement manufacturing and distribution firms in Ghana is relatively novel.

External Auditors' Impact on Corporate Governance of Unlisted Firms: A Developing Country Perspective

Purpose: The purpose of this study is to examine the impact of external auditors on the corporate governance of unlisted firms in Ghana.Design/Methodology: The study adopts a quantitative research survey design approach. Closed-ended questionnaires were distributed to 485 respondents using the purposive and convenience sampling method. Inferential statistics were conducted on the data collected using IBM SPSS Statistic v23.Findings: The study found that the presence of boards, familiarity with corporate governance codes, and adherence to the code of conduct are prevalent in unlisted firms in Ghana. Also, the study found that the role external auditors play in unlisted firms in Ghana has a positive and significant impact on corporate governance.Practical Implications to Business or key stakeholders: The findings of the study highlight the importance of establishing effective boards, adhering to corporate governance codes, and actively engaging external auditors to strengthen governance practices. Stakeholder engagement, training, risk management, and policy enhancements are also crucial in fostering transparency, accountability, and sustainable business growth. Implementing these implications can enhance corporate governance, build stakeholder trust, and promote long-term organizational success.

Impact of Reverse Logistics on Firm’s Survival in Kumasi: The Role of Organisational Culture

Purpose: The study aimed to investigate the impact of reverse logistics on firms’ survival and the role of organizational culture. It ascertained the forms of reverse logistics practices adopted by the selected firms, and determined the effect of reverse logistics on organizational survival. It then assessed the influence of organizational culture on the relationship between reverse logistics and firms’ survival. 
 Design/Methodology/Approach: The researchers used an exploratory design with a structured questionnaire with a sample size of one hundred and fifty-one (151). Purposive and snowball sampling techniques were used to contact five (5) firms in Kumasi and descriptive statistics were employed to analyse the data. Regression analysis was employed to examine the relationship between organizational culture and the survival of firms in the context of reverse logistics. 
 Findings: The results show that remanufacturing, reusing, recycling, repackaging, redistribution, reselling, and repairing and reconditioning are some of the major forms of reverse logistics practiced in these firms. Also, reverse logistics have a positive effect on organizational survival. Again, the introduction of organizational culture depicted that variation in organizational survival depended more on organizational culture than reverse logistics. 
 Research Limitation: The organizational culture, business environment, and cultural dynamics in Ghana may differ from other countries or regions. Therefore, the results of this study should be interpreted within the Ghanaian context, and caution should be exercised when applying them to other contexts.
 Practical Implications: The study recommended the adoption by firms to use reverse logistics activities in order to survive and pay more attention to organizational culture.
 Social Implications: The study encourages Ghanaian firms to adopt more sustainable practices within their reverse logistics operations.
 Originality/Value: The study connects the domains of reverse logistics and firm survival. This integration adds novelty by examining how the organizational culture's impact on reverse logistics practices ultimately contributes to the survival and long-term success of firms in Ghana.

Empirical study on the impact of working capital management on going concern of manufacturing firms in Ghana

Businesses strive for effective working capital management (WCM) since ineffective WCM influences firms’ failure in developing economies. However, the connection between WCM and the going concern of firms has not received significant quantitative attention. Hence, this study examines the impact of WCM on the going concern of manufacturing businesses in Ghana. The study goes beyond the edges and fills the literature gap on WCM and going concerns. Using panel data for 55 large-scale manufacturing companies in Ghana from 2002 to 2022, the study employed the Fixed Effect as the main estimation technique and the Random Effect as the robustness test estimator. The findings affirm the need for working capital management since it influences the going concerns of manufacturing firms. Hence, it is recommended that measures including effective mobilization of inventories, cash, debtors, and creditors should be the main motive of management and owners of the business.

Rippling effect of corporate governance and corporate social responsibility synergy on firm performance: The mediating role of corporate image

There is a lack of consensus on how corporate governance and CSR relationships manifest across different institutional contexts especially within emerging economies, despite the wealth of available studies on the two concepts. The purpose of this study is to examine the relationship between corporate governance and corporate social responsibility as well as their effect on the performance of manufacturing firms via corporate image. The quantitative approach was used to collect data from a sample of 328 top executives of selected manufacturing firms in Ghana using the purposive sampling technique. The data collected was analyzed using AMOS and Process Macro. The study found that corporate governance has a high tendency to catalyze corporate social responsibility performance. The study further revealed that good corporate governance practices enhance both corporate image and performance of firms. Corporate social responsibility was also found to have a significant positive relationship with both corporate image and performance of manufacturing firms. The study further illuminated that corporate governance and corporate social responsibility have an indirect effect on firm performance through corporate image. The study has demonstrated how corporate governance and corporate social responsibility synergistically impact the performance of manufacturing firms. The study helps advance knowledge on the synergy and convergence of CSR and corporate governance interfaces and offers rich insight into the corporate governance and CSR puzzles within the context of the emerging economy.