Template-Type: ReDIF-Article 1.0 Author-Name: Mark Yama Tampuri Junior Author-X-Name-First: Mark Yama Tampuri Author-X-Name-Last: Junior Author-Name: Isaac Jerry Kwabena Asare Author-X-Name-First: Isaac Jerry Kwabena Author-X-Name-Last: Asare Author-Name: Mohammed Mansa Musah Author-X-Name-First: Mohammed Mansa Author-X-Name-Last: Musah Title: Review of fintech regulations and development in Africa Abstract: The research article examines the fintech regulatory approach in select African countries including Ghana, South Africa, Kenya, Nigeria, and Botswana using a qualitative research approach that incorporates a review of academic journals, books, and government reports. In addition to examining the regulatory approach in the aforementioned African countries, the research delves into the regulatory landscape of fintech in the five countries, outlining the key regulations and regulatory bodies responsible for overseeing the industry. The article also evaluates the effectiveness of the current regulatory framework, highlighting areas that require improvement. Overall, the paper concludes that the regulatory approach adopted by African countries is instrumental in promoting financial inclusion, innovation, and growth in the fintech sector. However, there is still room for improvement in terms of regulatory innovation, coordination among regulatory bodies, and the harmonisation of regulations across different African countries to facilitate cross-border operations. Journal: African J. of Accounting, Auditing and Finance Pages: 335-358 Issue: 4 Volume: 8 Year: 2024 Keywords: fintech; digital financial services; regulatory approach; financial inclusion; business innovation; Africa. File-URL: http://www.inderscience.com/link.php?id=140564 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:4:p:335-358 Template-Type: ReDIF-Article 1.0 Author-Name: Musah Mohammed Saeed Author-X-Name-First: Musah Mohammed Author-X-Name-Last: Saeed Title: IFRS adoption and performance in Sub-Saharan Africa: a comparative analysis of Nigeria and Ghana Abstract: In this paper, the performance of commercial banks in Ghana and Nigeria was compared before and after the introduction of IFRS. The study relied on a causal-comparative research design and a sample size of 12 deposit money banks in Ghana and Nigeria. The results of the t-test revealed that the mandatory adoption of IFRS had no discernible impact on the profitability metrics of deposit money banks in Nigeria and Ghana. Also, the study's test of hypotheses demonstrates that the adoption of IFRS has no substantial influence on the liquidity ratios as well as the financial leverage of deposit money banks in Nigeria and Ghana. The study's conclusions indicate that the IFRS implementation has had unfavourable influence on banks' general financial efficiency and position. The study recommends that governments and authorities in both countries must guarantee that accounting professionals have access to training facilities and resources on the idea of IFRS and the challenges related to its application and transformation. Journal: African J. of Accounting, Auditing and Finance Pages: 359-385 Issue: 4 Volume: 8 Year: 2024 Keywords: IFRS adoption; performance; IFRS in Nigeria; IFRS in Ghana; signalling theory. File-URL: http://www.inderscience.com/link.php?id=140565 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:4:p:359-385 Template-Type: ReDIF-Article 1.0 Author-Name: Stephen Oteng Author-X-Name-First: Stephen Author-X-Name-Last: Oteng Title: Determinants of capital structure decisions: an empirical analysis of small and medium enterprises in Ghana from 2016 to 2020 Abstract: This study aims to empirically explore the determinants of capital structure decisions among small and medium-sized enterprises (SMEs), comprising around 70% of businesses in Ghana. Achieving an optimal balance between debt and equity is critical to business survival. This study utilised data collected through face-to-face interviews with 121 SMEs across 12 regions in Ghana from 2016 to 2020, employing a mixed-method approach that integrated quantitative and qualitative data. The primary data were entered into Microsoft Excel and Stata for analysis. Managerial ownership, asset structure, and stakeholders' cultural backgrounds emerged as significant determinants, with managerial ownership showing a higher marginal effect. By contrast, there is an inverse causal relationship between profitability, business location, and the leverage ratio. The study recommends reducing the cost of borrowing by lowering the policy rate, government initiatives for affordable loans to SMEs, and enhancing the physical asset capacity for collateral during loan acquisition. Journal: African J. of Accounting, Auditing and Finance Pages: 386-404 Issue: 4 Volume: 8 Year: 2024 Keywords: determinants; capital structure; decisions; small and medium enterprises; SMEs. File-URL: http://www.inderscience.com/link.php?id=140568 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:4:p:386-404 Template-Type: ReDIF-Article 1.0 Author-Name: David Kwabla Adegbedzi Author-X-Name-First: David Kwabla Author-X-Name-Last: Adegbedzi Author-Name: Pravin Narayan Mahamuni Author-X-Name-First: Pravin Narayan Author-X-Name-Last: Mahamuni Title: The recapitalisation of universal banks and SME development in Ghana Abstract: The persistent collapse of SMEs in Ghana is largely attributed to the dire financial challenges the sector faces. This study seeks to investigate whether bank recapitalisation affects the development of SMEs. Descriptive and inferential designs with a quantitative approach, anchored on a positivist paradigm, realists ontology and objectivist epistemology, were used. Frequency counts and paired sample t-tests were used to analyse the data. Findings showed that capital adequacy has a significant positive effect on SME development. Also, the 2018 recapitalisation of universal banks had a significant positive effect on SME development. It was recommended that authorities should fashion out policies to ensure adequate resourcing of the banks to enhance public confidence in the banking industry and to improve the sector's support for the SMEs in a bid to augment the government's efforts in supporting SMEs in Ghana. Journal: African J. of Accounting, Auditing and Finance Pages: 425-442 Issue: 4 Volume: 8 Year: 2024 Keywords: bank recapitalisation; SME development; pro-concentration theory; pro-de-concentration theory; Ghana. File-URL: http://www.inderscience.com/link.php?id=140569 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:4:p:425-442 Template-Type: ReDIF-Article 1.0 Author-Name: Friday Kennedy Ozo Author-X-Name-First: Friday Kennedy Author-X-Name-Last: Ozo Author-Name: Collins Okechukwu Irem Author-X-Name-First: Collins Okechukwu Author-X-Name-Last: Irem Author-Name: Geff Okereafor Author-X-Name-First: Geff Author-X-Name-Last: Okereafor Author-Name: Justin Etee Nwogo Author-X-Name-First: Justin Etee Author-X-Name-Last: Nwogo Author-Name: Godfrey C. Nwambeke Author-X-Name-First: Godfrey C. Author-X-Name-Last: Nwambeke Author-Name: Kingsley Sunday Oyekezie Author-X-Name-First: Kingsley Sunday Author-X-Name-Last: Oyekezie Title: Managers' perception of dividend policy in Nigerian firms Abstract: This paper examines Nigerian managers' perception about dividend policy. Purposive and convenience sampling methods are used to collect data from the respondents. The results are analysed for a total of 68 responding firms. Descriptive statistics are used to analyse the data. The findings show that the main factors influencing dividend policy are the level of current earnings, the stability of earnings, and past dividend payments. Nigerian firms exhibit dividend conservatism and target the dividend per share when deciding on their disbursement level. Managers of Nigerian firms perceive that dividend policy affects firm value. Managers of Nigerian firms also express strong support for the notion of dividends as signals, moderate support for the bird-in-the-hand theory, and no support for the tax clientele and agency explanations of why firms pay dividends. The study recommends that Nigerian firms should follow a constant annual dividend, which appears to satisfy shareholders' preferences. Journal: African J. of Accounting, Auditing and Finance Pages: 405-424 Issue: 4 Volume: 8 Year: 2024 Keywords: dividends; dividend policy; emerging market; Nigeria; survey. File-URL: http://www.inderscience.com/link.php?id=140570 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:4:p:405-424 Template-Type: ReDIF-Article 1.0 Author-Name: Karikari Amoa-Gyarteng Author-X-Name-First: Karikari Author-X-Name-Last: Amoa-Gyarteng Author-Name: Daniel Owusu-Adusei Author-X-Name-First: Daniel Author-X-Name-Last: Owusu-Adusei Title: Capital structure and solvency of manufacturing firms: evidence from Ghana Abstract: This paper explores the association between the capital structure and solvency of listed manufacturing firms in Ghana. To achieve this objective, annual data spanning a period of ten years (2010-2019) from 13 publicly traded manufacturing firms was collected and analysed. Hence, a dataset, which consisted of 130 observations, was utilised. The study utilised equity and debt ratios (DBTR) as proxies for capital structure, and interest coverage ratio (INCR) and liquidity ratio (LIQR) to gauge long and short-term solvency. Employing multivariate regression analysis, the study reveals compelling empirical evidence that supports the influence of equity and debt on long-term and short-term solvency. For the management of manufacturing firms, the findings suggest that they should be cognisant of the capital structure they employ, given its significant impact on the firm's short- and long-term solvency. Journal: African J. of Accounting, Auditing and Finance Pages: 235-251 Issue: 3 Volume: 8 Year: 2024 Keywords: solvency; liquidity; capital structure; manufacturing firms; Ghana. File-URL: http://www.inderscience.com/link.php?id=137525 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:3:p:235-251 Template-Type: ReDIF-Article 1.0 Author-Name: Mahdevi Tiagarassa Pillay Author-X-Name-First: Mahdevi Tiagarassa Author-X-Name-Last: Pillay Author-Name: Harshana Kasseeah Author-X-Name-First: Harshana Author-X-Name-Last: Kasseeah Title: A sector-wise analysis of the determinants of cash holdings in listed firms in Mauritius Abstract: The objective of this study is to investigate the factors that affect cash holdings of selected listed firms in Mauritius. Cash holdings have become more important than ever in this era of uncertainty created by COVID-19 and lockdowns that have affected businesses indiscriminately. Firms having cash holdings are better able to accommodate periods of uncertainty. This study uses data on firms listed on the stock market in Mauritius and covers the 2009-2019 period. The methodology is based on panel data techniques that account for endogeneity among independent variables and potential heterogeneity across observations. The paper finds that several influential factors determine cash holdings, including corporate growth prospects, short-term working capital, leverage, and firm size. The study also finds important sector-wise implications regarding cash holdings. Journal: African J. of Accounting, Auditing and Finance Pages: 252-278 Issue: 3 Volume: 8 Year: 2024 Keywords: cash holdings; sector-wise analysis; fixed effects; random effects; Mauritius. File-URL: http://www.inderscience.com/link.php?id=137526 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:3:p:252-278 Template-Type: ReDIF-Article 1.0 Author-Name: Nicolae Măgdaș Author-X-Name-First: Nicolae Author-X-Name-Last: Măgdaș Author-Name: Adriana Tiron Tudor Author-X-Name-First: Adriana Tiron Author-X-Name-Last: Tudor Author-Name: Melinda Timea Fülöp Author-X-Name-First: Melinda Timea Author-X-Name-Last: Fülöp Title: Exploring the term of the auditor-client relationship based on the ACR-models Abstract: Auditors work under rigorous conditions and are vital to the economic environment as they certify financial reports and provide confidence to shareholders and stakeholders. To achieve that goal, the auditor interacts with numerous people and interested parties who might affect the auditor's actions through their influence. The scope of the paper is to analyse the auditor-client relationship model. To achieve our objective, we apply a deductive approach. As the auditor-client relationship has been debated for a long time, conducting a longitudinal retrospective supports our research by delimiting research periods related to various time frames. The need to analyse the auditor-client relationship is a preprocess for more detailed research on negotiation relationships between the auditor and the client. To develop a comprehensive model of the auditor-client negotiation relationship, the authors analysed auditor-client models to determine the most suitable model for a young audit profession country. To comprehend this dynamic phenomenon, the authors began by analysing the theoretical background of the relationship between the auditor and the client based on the auditor-client models. Journal: African J. of Accounting, Auditing and Finance Pages: 279-301 Issue: 3 Volume: 8 Year: 2024 Keywords: audit; client; relationship; model; audit quality. File-URL: http://www.inderscience.com/link.php?id=137527 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:3:p:279-301 Template-Type: ReDIF-Article 1.0 Author-Name: Maha Khemakhem Jardak Author-X-Name-First: Maha Khemakhem Author-X-Name-Last: Jardak Title: The role of the media in corporate governance and economic development: North African democratic transition Abstract: This study provides an overview of the main theories behind corporate governance patterns from a critical perspective and expands the body of knowledge by explaining how media can be integrated into the institutional economic model as an important factor affecting corporate governance and economic development. Using the desk study method for the case of Tunisia's democratic transition, we argue that the media plays an important role in disseminating information and helping build public consensus about governance, corporate law reform, capital market decisions and economic choices. Therefore, we corroborate our study by conducting a comparative analysis with other North African countries. We demonstrate that, in the Tunisian post-revolution experience, democratic transition is preserved thanks to free media, but the process is still a long way from building economic growth and good corporate governance. The emergence of social democracy inhibits ownership diffusion and does not encourage private investment and economic growth. Journal: African J. of Accounting, Auditing and Finance Pages: 302-334 Issue: 3 Volume: 8 Year: 2024 Keywords: corporate governance; culture; politics; legal systems; media; economic development. File-URL: http://www.inderscience.com/link.php?id=137534 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:3:p:302-334 Template-Type: ReDIF-Article 1.0 Author-Name: Sani Saidu Author-X-Name-First: Sani Author-X-Name-Last: Saidu Title: Board leadership and firm capital structure decision in Nigeria: an examination of CEO and chairperson's characteristics Abstract: Prior studies on firm capital financing ignored the importance of the leadership characteristics. As a result, this study investigates the impact of board chairperson and CEO characteristics on firm debt financing in Nigeria. The study draws data on 54 listed firms and analysed using regression estimator in testing the hypotheses of the relationship between the board leaders' characteristics and firm capital structure. The finding from the analysis shows that firms secure more debt financings when the board leaders have ownership stakes in the firm. This study presents the original result of the relationship between CEO and chairperson characteristics and firm capital structure decision which were ignored in prior studies. The study shows how powerful the board leadership is in determining capital structure which prior study linked to firms outcomes. Journal: African J. of Accounting, Auditing and Finance Pages: 217-234 Issue: 3 Volume: 8 Year: 2024 Keywords: board structure; CEO; chairperson; debt financing; firm performance; Nigeria. File-URL: http://www.inderscience.com/link.php?id=137535 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ajaafi:v:8:y:2024:i:3:p:217-234