Earnings Management and Investor Protection: An International Comparison

What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.

The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields (Chinese Translation)

(1991). Applied Linear Regression Models. Journal of Quality Technology: Vol. 23, No. 1, pp. 76-77.

Applied Linear Regression Models

Why nations fail? The origins of Power, Prosperity and Poverty

Some previous histories of southern education, such as Charles W. Dabney's
classic Universal Education in the South, slighted the role of American
Americans in shaping their own education. James Anderson's new book, the
best single volume on black education in the post-bellum south, commits the
opposite error. Anderson exaggerates the power and autonomy of southern
ex-slaves during Reconstruction and of southern blacks in general during the
Jim Crow era, and correspondingly underemphasizes the significance for their
education of the efforts of former free people of colour, northern blacks and
whites and white southerners. While meriting praise for its uncovering of the
role of ordinary people struggling to improve their educational lot, Anderson's
revisionist book almost wholly excludes electoral, legislative and administrative
politics. The exclusions and lopsided emphases make it nearly as one-sided
and incomplete as the white-centred, bureaucrat-dominated history that
it seeks to replace.

The Education of Blacks in the South, 1860-1935 [Book Review]

http://www.cell.com/article/S2405844023005261/pdf

Emerging markets equities’ response to geopolitical risk: Time-frequency evidence from the Russian-Ukrainian conflict era

This paper analyses the US dollar exchange rate pass-through to consumer prices in Ghana from January 1990 to January 2020 using the empirical mode decomposition-based nonlinear autoregressive distributed lags model (EMD-NARDL). This model eliminates the noise component of the underlying data and captures the short- and long-run nonlinearities. We find evidence of cointegration between denoised series of consumer prices and exchange rate and asymmetric pass-through in both the short- and long-run. Specifically, exchange rate pass-through was found to be in the long-run incomplete in the period of depreciation and statistically zero pass-through in the period of appreciation. In the short-run, the exchange rate pass-through in periods of depreciation is near complete; that is, 81% against 74% in periods of appreciation. We recommend that monetary authorities consistently monitor exchange rate behaviour and maintain efficient exchange rate management policies to ensure stable consumer prices. This could be achieved through proper and timely policy interventions using the available monetary policy tools such as foreign exchange reserves.

Asymmetric Exchange Rate Pass-Through to Consumer Prices in Ghana: Evidence EMD-NARDL Approach

Interdependence structure of global commodity classes and African equity markets: A vector wavelet coherence analysis

Efficient management of working capital guarantees not only the future cash flow of a firm but also its profitability. This study attempts to find out the determinants of working capital requirements and working capital management policies in the Ghanaian Banking Industry. The study used bank level data (1999-2008) from the Bank of Ghana. Using panel methodology within the random or fixed effects framework, the study concluded that while Cash Conversion Cycle, Size and Age of a bank have significantly positive impact on bank working capital requirement, leverage, cash position and deposit herfindahl index have a significantly negative effect on bank working capital requirement. Profitability, cash position, growth size and deposit herfindahl index are found to be the key determinants of working capital policies of banks in Ghana. Consequently, the study finds support for the pecking order and agency theories even though no support was found for the lifecycle theory. Thus to ensure efficient working capital management, banks in Ghana would be better off pursuing growth strategies geared towards obtaining greater proportion of the banking market and issue more short term debt instruments.

Determinants of working capital requirement and policies of banks in Ghana

This paper investigates the robustness of the conventional mean-variance (MV) optimization model by making two adjustments within the MV formulation. First, the portfolio selection based on a behavioral decision-making theory that encapsulates the MV statistics and investors psychology. The second aspect involves capturing the portfolio asset dependence structure through copula. Using the behavioral MV (BMV) and the copula behavioral MV (CBMV), the results show that stocks with lower behavioral scores outperform counterpart portfolios with higher behavioral scores. On the other hand, in the Forex market, the reverse is observed for the BMV approach, while the CBMV remains consistent.

https://www.mdpi.com/2227-7072/10/2/28/pdf?version=1650691770

Samuel Kwaku Agyei

Papers

Emerging markets equities’ response to geopolitical risk: Time-frequency evidence from the Russian-Ukrainian conflict era

Asymmetric Exchange Rate Pass-Through to Consumer Prices in Ghana: Evidence EMD-NARDL Approach

Interdependence structure of global commodity classes and African equity markets: A vector wavelet coherence analysis

Determinants of working capital requirement and policies of banks in Ghana

Markowitz Mean-Variance Portfolio Selection and Optimization under a Behavioral Spectacle: New Empirical Evidence