Joshua Abor

Bio: Joshua Abor is an academic researcher from University of Ghana. The author has contributed to research in topics: Corporate governance & Debt. The author has an hindex of 36, co-authored 143 publications receiving 6268 citations. Previous affiliations of Joshua Abor include Stellenbosch University.

Corporate Governance and Restructuring Activities Following Completed Bids

Abstract: Research Question/Issue: We examine the extent to which effective corporate governance impacts three restructuring choices following completed acquisitions – significant adjustment to workforce; sa ...

The Effects Of Remittances On Economic Growth: Reexamining The Role Of Institutions

Abstract: The extant literature is unclear about the effects of remittances on economic growth and the role of governance institutions. This study contributes to knowledge by investigating how domestic institutional capacity determines the ability of developing countries to benefit from remittance inflows. We employ data for 106 developing countries over a 13-year period (1996 to 2013) to test two related hypotheses. First, we test the hypothesis that countries with weak institutions will 'import' growth in the form of international remittances, to make up for any loss in growth arising from the 'bad' institutions. We call this the growth importation hypothesis . Second, we test the hypothesis that the synergetic growth value of the interaction between weak institutions and remittances will be positive due to the fact that the urgency to apply remittances efficiently in countries with weak institutions is high because of limited alternatives (that is, the opportunity cost of misapplying remittance proceeds is high). We call this the urgency hypothesis . We find strong evidence of the existence of both hypotheses. Specifically, we find that remittances stimulate economic growth in the full sample and in low income and lower middle income countries, but do not foster growth in upper-middle and high-income countries. On their own, domestic institutions in low income and lower middle-income countries do not promote growth unless they are combined with remittances. However, in upper middle and high-income countries, institutions, on their own, are strong enough to promote growth, and, in doing so, act as substitutes to remittances in economic growth. It is clear from the positive effect of institutions, physical capital and inflation on growth in upper-middle-income and high-income countries that, the strengthening of institutions, the rapid accumulation and effective utilization of physical capital, and the pursuit of macroeconomic stability are vital for promoting growth in these countries. For low income and lower middle-income countries, they must upgrade their institutions to reduce market imperfections, and ensure investments in growth enhancing projects. But until then, low income and lower middle-income countries must facilitate remittance inflows in order to spur growth.

External Debt among HIPCs in Africa: Accounting and Panel VAR Analysis of Some Determinants

Abstract: Purpose The management of external debt among highly indebted poor countries (HIPCs) in Africa still remains a challenge despite numerous packages and attempts to ameliorate the consequences of such odious debt. The purpose of this paper is to establish the factors that contribute to the growth rate of external debt and how these factors respond to shocks to external debt growth rate in Africa. Design/methodology/approach Data were obtained from 24 African countries and analyzed using a panel vector autoregression estimation methodology. Findings The study found that external debt growth rates respond positively to unit shock or changes in government investment spending, consumption spending, and domestic borrowings over a long period of time. In the medium term, external debt growth rates respond negatively to shocks in tax revenue, inflation, and output growth rates. The paper also provides empirical support that external debt may be consumed rather than invested among HIPCs in Africa. Research limitations/implications The findings of this paper are limited to only HIPCs in Africa. Practical implications This study has some few debilitating implications for external debt management among HIPCs in Africa. First, the paper suggests that debt repayment may be a problem. This is largely because external debt is consumed rather than invested. External debt sustainability needs a holistic approach in less developed countries. The findings place much emphasis on improvements in gross domestic product and tax revenues as the principal routes out of the debt doldrums. However, this option must be exploited with great caution as there is ample evidence that these poor countries increase their external borrowing capacities with improvements in economic outlook. Originality/value This paper fills a research gap that identifies specific components of government deficit budgets that may be contributing to the growth rate of external debts among HIPCs.

Improving maternal healthcare utilisation in sub‐Saharan Africa through micro‐finance

Abstract: Purpose – This paper aims to examine links between women's access to micro‐finance and how they use maternal healthcare services in sub‐Saharan Africa (SSA).Design/methodology/approach – The authors use theoretical and empirical literature to propose a framework to sustain and improve women's access to maternal healthcare services through micro‐financing.Findings – It is found that improved access to micro‐finance by women, combined with education may enhance maternal health service uptake.Research limitations/implications – The paper does not consider empirical data in the analysis. The authors advocate empirically testing the framework proposed in other SSA countries.Social implications – It is important to empower women by facilitating their access to education and micro‐finance. This has implications for improving maternal healthcare utilization in SSA.Originality/value – The paper moves beyond poor access to maternal health services in SSA and proposes a framework for providing sustainable solutions.

Financial access and economic development: the moderating role of financial consumer protection

Abstract: The purpose of this paper is to examine the moderating role of financial consumer protection (FCP) in the access–development nexus,The study is based on cross-country data on 102 countries surveyed in the World Bank Global Survey on FCP and Financial Literacy (2013) The White heteroscedasticity adjusted regressions and Two-stage least squares regressions (2SLS) are used for the estimation,Interactions between FCP regulations that foster fair treatment, disclosure, dispute resolution and recourse and financial access have positive net effects on economic development However, there is no sufficient evidence to suggest that interactions between financial access and enforcement and compliance monitoring regulations have a significant effect on economic development,First, policy makers should continue with efforts aimed at instituting FCP regimes as part of strategies aimed at broadening access to financial services for enhanced economic development Second, instituting FCP regimes per se may not be enough Policy makers need to consider possible intervening factors such as the provision of adequate resources and supervisory authority, for compliance monitoring and enforcement to achieve the expected positive effect on economic development,This study extends evidence in the law–finance–growth literature by providing empirical evidence on the effect of legal institution specific to the protection of retail financial consumers on the access–development nexus using a nouvel data set, the World Bank Global survey on FCP and Financial Literacy (2013)

Nudge: Improving Decisions about Health, Wealth, and Happiness

Abstract: NUDGE: IMPROVING DECISIONS ABOUT HEALTH, WEALTH, AND HAPPINESS by Richard H. Thaler and Cass R. Sunstein Penguin Books, 2009, 312 pp, ISBN 978-0-14-311526-7This book is best described formally as a general explanation of and advocacy for libertarian paternalism, a term coined by the authors in earlier publications. Informally, it is about how leaders, systems, organizations, and governments can nudge people to do the things the nudgers want and need done for the betterment of the nudgees, or of society. It is paternalism in the sense that "it is legitimate for choice architects to try to influence people's behavior in order to make their lives longer, healthier, and better", (p. 5) It is libertarian in that "people should be free to do what they like - and to opt out of undesirable arrangements if they want to do so", (p. 5) The built-in possibility of opting out or making a different choice preserves freedom of choice even though people's behavior has been influenced by the nature of the presentation of the information or by the structure of the decisionmaking system. I had never heard of libertarian paternalism before reading this book, and I now find it fascinating.Written for a general audience, this book contains mostly social and behavioral science theory and models, but there is considerable discussion of structure and process that has roots in mathematical and quantitative modeling. One of the main applications of this social system is economic choice in investing, selecting and purchasing products and services, systems of taxes, banking (mortgages, borrowing, savings), and retirement systems. Other quantitative social choice systems discussed include environmental effects, health care plans, gambling, and organ donations. Softer issues that are also subject to a nudge-based approach are marriage, education, eating, drinking, smoking, influence, spread of information, and politics. There is something in this book for everyone.The basis for this libertarian paternalism concept is in the social theory called "science of choice", the study of the design and implementation of influence systems on various kinds of people. The terms Econs and Humans, are used to refer to people with either considerable or little rational decision-making talent, respectively. The various libertarian paternalism concepts and systems presented are tested and compared in light of these two types of people. Two foundational issues that this book has in common with another book, Network of Echoes: Imitation, Innovation and Invisible Leaders, that was also reviewed for this issue of the Journal are that 1 ) there are two modes of thinking (or components of the brain) - an automatic (intuitive) process and a reflective (rational) process and 2) the need for conformity and the desire for imitation are powerful forces in human behavior. …

The Human Side of Enterprise.

Abstract: \"What are your assumptions (implicit as well as explicit) about the most effective way to manage people?\" So began Douglas McGregor in this 1960 management classic. It was a seemingly simple question he asked, yet it led to a fundamental revolution in management. Today, with the rise of the global economy, the information revolution, and the growth of knowledge-driven work, McGregor's simple but provocative question continues to resonate-perhaps more powerfully than ever before. Heralded as one of the most important pieces of management literature ever written, a touchstone for scholars and a handbook for practitioners, The Human Side of Enterprise continues to receive the highest accolades nearly half a century after its initial publication. Influencing such major management gurus such as Peter Drucker and Warren Bennis, McGregor's revolutionary Theory Y-which contends that individuals are self-motivated and self-directed-and Theory X-in which employees must be commanded and controlled-has been widely taught in business schools, industrial relations schools, psychology departments, and professional development seminars for over four decades. In this special annotated edition of the worldwide management classic, Joel Cutcher-Gershenfeld, Senior Research Scientist in MIT's Sloan School of Management and Engineering Systems Division, shows us how today's leaders have successfully incorporated McGregor's methods into modern management styles and practices. The added quotes and commentary bring the content right into today's debates and business models. Now more than ever, the timeless wisdom of Douglas McGregor can light the path towards a management style that nurtures leadership capability, creates effective teams, ensures internal alignment, achieves high performance, and cultivates an authentic, value-driven workplace--lessons we all need to learn as we make our way in this brave new world of the 21st century.