We investigate if local banks performance in the emerging or frontier market is affected by the extent to which managers manipulate their financial statements and by the banking market structure. An aberration from the extant literatures that have either focused mainly on the developed societies...

How vital are market conditions in determining the behavior of firms? In this paper we explore firm's impetus to manipulate earnings as it relates to their leverage and volatile cash flow positions in economic conditions. Borrowing a forerunner to proxy for pecking order and market-timing...

Ability of a firm to repay loans is crucial to its access to credit. Banks in Ghana rate high default rate as a major obstacle of small and medium-sized enterprises (SMEs) in loan acquisition. The ability of a bank to predict default potential will help mitigate default rates. In most African...

Arguably, power is necessary for the fiduciary responsibilities of the executive. While the debate on CEO power suggests entrenched attitudes and willful aggrandizations of wealth, there is no consensus. As such, we revisit the discussion and apply batteries of empirical estimation techniques in...

Oil price and its shocks matter for economic vitality and firms’ operations and strategies for the long-term and short-term. The plethora of evidence in the literature has failed to fill the gap in investigating oil’s impact on short-term needs for businesses. We attempt to fill in this...

The adverse effect of corruption has been widely investigated in literature. Corruption is said to hamper both economic and human development. A foe of transparency and ethical business ambiance, corruption promotes a trans-lucid accounting milieu. In this paper we investigate the impact of...

Oil price and its shocks matter for economic vitality and firms’ operations and strategies for the long-term and short-term. The plethora of evidence in the literature has failed to fill the gap in investigating oil’s impact on short-term needs for businesses. We attempt to fill in this...

Studies show that firms in highly competitive markets execute policies that lead to higher cash holdings. We explore whether better working capital management is one of the policies these firms conduct to increase cash. Using a sample of U.S. firms, we find that firms faced with higher product...