Determinants of Dividend Policy among Banks Listed on the Ghana Stock Exchange

Bracketing is a concept under phenomenology that requires the researchers to identify and set aside own preconceptions, assumptions, feelings, impressions or views during data collection [ 14 ].

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Boyd [ 11 ] suggested two to ten participants as enough or sufficient to reach saturation. The sale of Ghana Telecom to Vodafone was cited as an example of government privatization policy that failed to benefit the capital market by improving the liquidity of the exchange.

A study covering 19 developed economies indicate share issue privatization has a positive effect on local market liquidity. The research adopted a qualitative methodology research with unstructured phenomenological interviews, which enabled participants to share experiences, opinions and perspectives on the problem.

For instance, politicians appoint cronies to manage SOEs and sell the companies to investors only when there are personal gains involved. Listing SOEs is the most important evidence of government support and commitment to improving the stock market, and an example for the private sector to do same.

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Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency. More bids and offers is a sign of healthy market competition, which reduces the bid-ask spread and creates a more efficient market.

Indian Shares Drop amid Tensions with This page provides the latest reported value for - Ghana Stock Market Composite GSE-CI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Kluwer Academic Publishers. Brooks, C.

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Sign up for a free FXCM practice account, which lets you test out the platform and experience some of the account benefits we give to our traders. Besides, those included in the sample must be interested in the subject matter under investigation, be ready and willing to participate, and be freely available to share experience, opinion and make suggestions where appropriate.

Primary Category Financial. Government must control borrowing through prudent fiscal policies, maintain macro-economic stability, and implement effective policies and regulations that promote listing of State Owned Enterprises SOEs , local private companies and foreign businesses on the GSE.

Nduom, since his vision requires the necessary structures capable of attracting potential and prospective investors, he was seriously exerting policies and programmes that will make his companies attractive in the medium to long term period.

Outline Index Bibliography. Week Ahead. Try us out! Since the market is not well researched [ 3 ], information on factors contributing to market illiquidity on GSE, and frontier markets in generally, is also limited in supply. Cresswell and PlanoClark observed that the technique ensures that only individuals or groups that are knowledgeable or have experience with the phenomenon are selected.


Besides, participants noted the market is very small and have low float and therefore unable to accommodate foreign investors with huge funds to spend. Nine of the participants were selected from the banking sector because: Increased economic stability and productivity will likely help resolve the problem with government borrowing, increase investor confidence and make share ownership a more attractive investment option.

Another sign of market inefficiency is high transaction costs e. The procedure also had an element of disguised snowball sampling. Earnings projections for UTB for this year largely contributed in settling the stock at year-low of 17 pesewas after opening the year at GHS 0.

The manufacturing and brewing sectors currently dominate the exchange. Study Contribution: Trading infrastructure, number of participants and listing requirements and regulations are some of the attributes of the market that make the market illiquid.