Effect of Energy Prices on Economic Growth in the ECOWAS Sub-Region: Investigating the Channels Using Panel Data

The article empirically examines the effect of energy prices on economic growth within the Economic Community of West African States sub-region by acknowledging that the effect of energy prices on growth is quintessentially indirect and hence can be tracked through some channels. Exploiting the System Generalized Methods of Moments estimation technique for the period spanning 2002–2015, the results indicate that the overall effect of energy prices on economic growth is significantly negative. This effect propagates mainly through government consumption expenditure and investment, albeit its effect through real interest rate is positive. However, its negative effects on government consumption, investment, and exchange rate significantly overwhelm the positive effect from real interest rate.     

Population Health and Economic Growth in Sub-Saharan Africa: A Panel Cointegration Analysis

The article investigates the extent to which the health of the population affects the economic performance using panel data for 30 Sub-Saharan African countries for the period 1970–2010. Using a theoretical model based on an augmented Solow growth model, the authors estimate the relationship between population health capital and economic growth in Sub-Saharan Africa using panel cointegration econometric strategy. They find that the health status of the population has not significantly driven economic performance. Accounting for the effect of HIV/AIDS, however, resulted in a significant negative effect of population health on economic growth. Furthermore, the obverse seems rather plausibly the case, as economic growth significantly increases life expectancy in the region.     

Social marketing on AIDS: using Transtheoretical model to understand current condom usage among commercial drivers in Accra,Ghana

• This is an exploratory research to utilise the Transtheoretical model to assess condom usage intentions among commercial drivers in Ghana. A convenience‐based non‐probability sampling method was employed, and a face‐to‐face questionnaire was administered on 132 commercial drivers in Accra. The analysis of variance and one sample t‐test statistical method was employed to establish relationship between variables based on the Transtheoretical model. The result reveals that over 71.9% of commercial drivers are at precontemplation, contemplation and preparation stages. This means that most commercial drivers interviewed have not yet taken action to use condoms to protect themselves against HIV/AIDS. The findings of the study constitute a series of marketing ideas, useful in decision making with social marketing organisations.

Copyright © 2013 John Wiley & Sons, Ltd.     

Alternative Positioning Strategies for Services in Ghana

In spite of its acknowledged importance for the success of the organization, there is little evidence of studies into positioning in sub‐Saharan Africa. This research presents the results of an empirically based study that employed a mixed method of qualitative in‐depth interviews of managers, and quantitative method of exploratory factor analysis to the data from consumers of services in Ghana. The resultant typology has three positioning strategies: service reliability, social responsibility, and branding. Organizations that adopt these positioning strategies are likely to benefit from the increasingly competitive Ghanaian service market. © 2014 Wiley Periodicals, Inc.     

Chief executive officers' dispositional optimism,host country's rule of law,and foreign market equity mode choice of Ghanaian small and medium‐sized enterprises

Despite a growing interest in the influence of managerial characteristics on firms' strategic decision‐making process, scholarly knowledge is limited with regard to how and when psychological attributes of executives affect firms' foreign entry mode decision. Building on behavioral decision‐making theory, we address this gap by investigating the effect of chief executive officers' (CEOs') optimism on firms' foreign market equity mode choice. In addition, we examine the moderating influence of the host country's rule of law on this relationship. Using primary data from 227 small and medium‐sized enterprises (SMEs) in Ghana, we found that increases in the levels of CEOs' optimism are related to the increases in preference for equity entry mode. This relationship is amplified when CEOs perceive the host country to have stronger rule of law. The findings have theoretical, managerial, and policy implications for SMEs' foreign market entry mode strategy.     

Measuring Heterogeneous Price Effects for Home Acquisition Programs in At‐Risk Regions

Any entity offering flood insurance, whether it is private or government‐administered such as the National Flood Insurance Program (NFIP), faces the challenge of solvency. This is especially true for the NFIP, where homeowner affordability criteria limit the opportunity to charge fully risk‐based premiums. One solution is to remove the highest flood risk properties from the insurer's book of business. Acquisition (buyout) of flood‐prone structures is a potentially permanent solution that eliminates the highest risk properties while providing homeowners with financial assistance to relocate in a less risky location. To encourage participation, homeowners are offered a preflood fair market value of their damaged (or at risk of damage) structures. Although many factors have been shown to affect a homeowner's decision to accept an acquisition offer, very little research has been devoted to the influence of price or monetary incentive offered on homeowners' willingness to participate in acquisition programs. We estimate a pooled probit model and employ a bootstrap methodology to determine the effects of hypothetical home price offers on homeowners' acquisition decisions. We do so while controlling for environmental factors, property characteristics, and homeowner sociodemographic characteristics. Results show that price indeed has a positive effect on likelihood of accepting an acquisition contract. Furthermore, estimated homeowner supply curves differ significantly based on the damage status of the acquisition offer, as well as homeowner and property characteristics.     

Effect of inherent innovativeness and consumer readiness on attitudes to mobile banking

Despite the strong evidence that many consumers relish their experience with mobile banking, others indicate that some segments may not be comfortable with these emerging digitized platforms due to certain inherent personal traits. Drawing insights from the socio-psychology and innovation/SSTs adoption literature, this paper tested a structural model with inherent innovativeness as an antecedent variable, and consumers’ attitude to M-banking, as a mediator to their future usage intention. The moderating effect of consumer readiness on the hypothesized relationship between consumers’ attitudes and intention to use mobile banking was also examined. The model was tested on survey data from 720 respondents from the United Kingdom (UK). Findings show that inherent innovativeness significantly explains attitudes to mobile banking. There were, however, mixed outcomes concerning the effects of three dimensions of consumer readiness on the link between attitudes and intention to use mobile banking. The results show that only ability exerts a positive and a significant effect on the examined relationship. The effects of motivation and role clarity seemed insignificant. The findings from this paper can help retail bank managers improve their channel and promotional decisions in order to enhance the service experience of relevant segments.     

A cross‐national investigation of trait antecedents of mobile‐banking adoption

Although there is a near agreement in the literature on the main predictors of consumers' attitudes toward technological innovation, the potential ways through which personal traits and national environmental differences contribute to significant variations in mobile‐banking adoption have received limited attention. Based on insights from innovation adoption and personality research, this study tested a model of mobile‐banking adoption using data from a developed and a developing country. Survey data came from a sample of 1,340 participants from the United Kingdom and Ghana. The results indicate that intrinsic traits are stronger in explaining consumers' attitude toward mobile banking in Ghana than in the United Kingdom. However, no significant variance between the two countries was observed with regard to the mediation effect of consumers' attitude on the intention to use mobile banking. The practical and theoretical implications of this study are discussed.     

Stock Returns and Exchange Rate Nexus in Ghana: A Bayesian Quantile Regression Approach

This paper presents analysis of the relationship and dependence structure between stock returns and exchange rates in Ghana using data of daily periodicity from January 4, 2011 to July 31, 2014. Analyses are conducted by means of Bayesian quantile regression (QR) technique and multiple causality tests. Our findings suggest high dependence of the equity market on the foreign exchange market in Ghana, and that the link between the two markets follows the international trade‐oriented model more than the portfolio balance theory. We report that among the six exchange rates used, only the cedi–dollar registers instantaneous effect on the equity market.     

Managing External Risks for International Architectural,Engineering, and Construction (AEC) Firms Operating in Gulf Cooperation Council (GCC) States

International projects involve both uncertainties raised domestically and external risks in international transactions. Through a questionnaire survey and case studies among architectural, engineering, and construction (AEC) firms operating in the Gulf, this study found 36.5% external risk factors that should be contemplated before the award of contracts and 53.9% afterward to ensure smooth running. An external risk breakdown structure (E‐RBS) and a framework for foreign AEC firms operating in Gulf Cooperation Council (GCC) states were developed for users to identify and respond to external risks in a more systematic manner. International firms outside Malaysia are strongly advised to use the framework for risk forecasting and mitigation when operating in the Gulf.