Pub Date : 2022-02-17DOI: 10.1080/15228916.2022.2042102
Richard Adu-Gyamfi, John Kuada, S. Asongu
ABSTRACT It is a well-established practice of many Sub-Saharan African (SSA) governments to aid entrepreneurs within both the formal and informal sectors to enhance their performance and growth. Unfortunately, there is no agreed method by which governments can differentiate between entrepreneurs and target them with the appropriate promotion policies. Thus, despite the good intentions, entrepreneurship policy initiatives have been incorrectly targeted, poorly implemented, and without the desired results, since different entrepreneurs may require different forms of assistance. Some scholars have suggested that without a context-specific classificatory guide, policymakers are unlikely to be accurate in their assessment of the growth capabilities of prospective candidates for specific promotion initiatives and this can explain some of the policy failures. This observation has motivated the present paper. Our objective is to provide a framework that helps identify the different contextual dimensions influencing formal and informal enterprise creation processes in SSA.
{"title":"An Integrative Framework for Formal and Informal Entrepreneurship Research in Africa","authors":"Richard Adu-Gyamfi, John Kuada, S. Asongu","doi":"10.1080/15228916.2022.2042102","DOIUrl":"https://doi.org/10.1080/15228916.2022.2042102","url":null,"abstract":"ABSTRACT It is a well-established practice of many Sub-Saharan African (SSA) governments to aid entrepreneurs within both the formal and informal sectors to enhance their performance and growth. Unfortunately, there is no agreed method by which governments can differentiate between entrepreneurs and target them with the appropriate promotion policies. Thus, despite the good intentions, entrepreneurship policy initiatives have been incorrectly targeted, poorly implemented, and without the desired results, since different entrepreneurs may require different forms of assistance. Some scholars have suggested that without a context-specific classificatory guide, policymakers are unlikely to be accurate in their assessment of the growth capabilities of prospective candidates for specific promotion initiatives and this can explain some of the policy failures. This observation has motivated the present paper. Our objective is to provide a framework that helps identify the different contextual dimensions influencing formal and informal enterprise creation processes in SSA.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49054292","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-15DOI: 10.1080/15228916.2022.2026099
F. A. Quagrainie, S. Adams, A. Kabalan, Afia Dentaa Dankwa
ABSTRACT Micro-entrepreneurship literature underscores the role of individual perceptual factors in structuring the social inclusion of women while considering the social systems which shape it. However, untangling the way individual perceptual factors relate to the entrepreneurial outcome, remains a challenge, due to the social systems of women. Based on responses of 459 women micro-entrepreneurs operating in Madina, Nungua, and Tema, this paper examines the influence of women micro-entrepreneurship on social inclusion with entrepreneurial self-efficacy, fear of failure and resilience as moderators. The value of this study lies in providing significant insights on micro-entrepreneurship increasing the probability of women’s social inclusion with a better strengthening of the relationship based on fear of failure and resilience. The study provides some useful academic insights and offers some practical suggestions for improving policy aimed at using women micro-entrepreneurship as a strategy for social inclusion.
{"title":"Women Micro-entrepreneurship and Social Inclusion: The Moderating Role of Individual Perceptual Factors","authors":"F. A. Quagrainie, S. Adams, A. Kabalan, Afia Dentaa Dankwa","doi":"10.1080/15228916.2022.2026099","DOIUrl":"https://doi.org/10.1080/15228916.2022.2026099","url":null,"abstract":"ABSTRACT Micro-entrepreneurship literature underscores the role of individual perceptual factors in structuring the social inclusion of women while considering the social systems which shape it. However, untangling the way individual perceptual factors relate to the entrepreneurial outcome, remains a challenge, due to the social systems of women. Based on responses of 459 women micro-entrepreneurs operating in Madina, Nungua, and Tema, this paper examines the influence of women micro-entrepreneurship on social inclusion with entrepreneurial self-efficacy, fear of failure and resilience as moderators. The value of this study lies in providing significant insights on micro-entrepreneurship increasing the probability of women’s social inclusion with a better strengthening of the relationship based on fear of failure and resilience. The study provides some useful academic insights and offers some practical suggestions for improving policy aimed at using women micro-entrepreneurship as a strategy for social inclusion.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42933375","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-09DOI: 10.1080/15228916.2021.2015835
P. Kodua, Charles Blankson, Swati Panda, Thuy Nguyen, R. Hinson, B. Narteh
ABSTRACT Relying on the concepts of corporate social responsibility (CSR) and consumer-based brand equity (CBBE) to better understand sub-Saharan African urban marketplaces, this article puts forward a conceptual framework whose objective is to a) investigate the effect of CSR on multiple dimensions of CBBE and b) investigate the moderating role of customer perceived value (CPV). Survey data are from 501 consumers in Ghana and are analyzed using structural equation modeling. Findings suggest that engaging in CSR unquestionably improves all aspects of brand equity such as brand awareness, brand image, brand quality, and brand loyalty. We also find that the relationship between CSR and CBBE is moderated by CPV across all CSR-CBBE relationship. These findings have important implications for CSR, branding, international business and marketing in the Ghanaian marketplace.
{"title":"The Relationship between CSR and CBBE in Sub-Saharan Africa: The Moderating Role of Customer Perceived Value","authors":"P. Kodua, Charles Blankson, Swati Panda, Thuy Nguyen, R. Hinson, B. Narteh","doi":"10.1080/15228916.2021.2015835","DOIUrl":"https://doi.org/10.1080/15228916.2021.2015835","url":null,"abstract":"ABSTRACT Relying on the concepts of corporate social responsibility (CSR) and consumer-based brand equity (CBBE) to better understand sub-Saharan African urban marketplaces, this article puts forward a conceptual framework whose objective is to a) investigate the effect of CSR on multiple dimensions of CBBE and b) investigate the moderating role of customer perceived value (CPV). Survey data are from 501 consumers in Ghana and are analyzed using structural equation modeling. Findings suggest that engaging in CSR unquestionably improves all aspects of brand equity such as brand awareness, brand image, brand quality, and brand loyalty. We also find that the relationship between CSR and CBBE is moderated by CPV across all CSR-CBBE relationship. These findings have important implications for CSR, branding, international business and marketing in the Ghanaian marketplace.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48337803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-03DOI: 10.1080/15228916.2022.2031827
Ebele S. Nwokoye, C. Igbanugo, Chukwunonso S. Ekesiobi, S. K. Dimnwobi
ABSTRACT The study investigates the impact of fiscal incentives on the tax compliance behavior of firms in industrial clusters in Nigeria. Data from 800 firms drawn from three industrial clusters in South-East Nigeria were collected using a structured questionnaire through a multi-stage sampling procedure. Descriptive statistics and the logistic regression model were applied to estimate the survey responses. The major findings of the study show that regular tax audit, firm size, simplifying the communication on tax requirement, communicating deterrent messages, educational attainment of the firm owner and political legitimacy of the current government as well as fiscal incentives (tax credit, tax reduction, capital allowance, investment incentives) significantly influence the tax compliance behavior of firms in Nigeria’s industrial clusters. Similarly, the study finds that fiscal incentives significantly enhance firm performance in Nigeria’s industrial clusters. Implications and policy suggestions are presented for adoption by concerned stakeholders in the tax and industrial sectors.
{"title":"Fiscal Incentives and Tax Compliance Behaviour in Industrial Clusters: A Survey of Clusters in South-east Nigeria","authors":"Ebele S. Nwokoye, C. Igbanugo, Chukwunonso S. Ekesiobi, S. K. Dimnwobi","doi":"10.1080/15228916.2022.2031827","DOIUrl":"https://doi.org/10.1080/15228916.2022.2031827","url":null,"abstract":"ABSTRACT The study investigates the impact of fiscal incentives on the tax compliance behavior of firms in industrial clusters in Nigeria. Data from 800 firms drawn from three industrial clusters in South-East Nigeria were collected using a structured questionnaire through a multi-stage sampling procedure. Descriptive statistics and the logistic regression model were applied to estimate the survey responses. The major findings of the study show that regular tax audit, firm size, simplifying the communication on tax requirement, communicating deterrent messages, educational attainment of the firm owner and political legitimacy of the current government as well as fiscal incentives (tax credit, tax reduction, capital allowance, investment incentives) significantly influence the tax compliance behavior of firms in Nigeria’s industrial clusters. Similarly, the study finds that fiscal incentives significantly enhance firm performance in Nigeria’s industrial clusters. Implications and policy suggestions are presented for adoption by concerned stakeholders in the tax and industrial sectors.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47751680","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-31DOI: 10.1080/15228916.2022.2031584
Rodrigue S. Kaki, D. Mignouna, A. Aoudji, R. Adéoti
ABSTRACT In sub-Saharan Africa, where the professional insertion of graduates remains a major challenge, entrepreneurship represents an alternative to youth unemployment. This study investigates the predictors of agribusiness entrepreneurial intentions amongst undergraduate agricultural students in the Republic of Benin. A sample of 351 final year agricultural students was selected from universities. The data were collected through structured questionnaire and analyzed using descriptive statistics and a binary logistic regression. The findings showed that 44.16% of respondents were willing to start their own agribusiness venture after graduation with a preference for agro-processing enterprises (35.48%) and crop production enterprises (26.45%). The significant factors that influence agricultural students’ entrepreneurial intention in agribusiness were age, their major field of study, type of university attended, previous experience in agribusiness, a role model as a friend, and perception of agribusiness environment. The study suggests the establishment of clubs for agribusiness entrepreneurship in agricultural faculties and universities; showcasing of young entrepreneurs in agribusiness through national competitions, and events, such as “Agri-Enterprise Week” at universities, inviting young agribusiness entrepreneurs to share their experiences with the students in the next generation as guests lecturer; and the creation by the government of a conducive agribusiness environment for youth graduates. In the light of these insights, several paths for future research emerge.
{"title":"Entrepreneurial Intention among Undergraduate Agricultural Students in the Republic of Benin","authors":"Rodrigue S. Kaki, D. Mignouna, A. Aoudji, R. Adéoti","doi":"10.1080/15228916.2022.2031584","DOIUrl":"https://doi.org/10.1080/15228916.2022.2031584","url":null,"abstract":"ABSTRACT In sub-Saharan Africa, where the professional insertion of graduates remains a major challenge, entrepreneurship represents an alternative to youth unemployment. This study investigates the predictors of agribusiness entrepreneurial intentions amongst undergraduate agricultural students in the Republic of Benin. A sample of 351 final year agricultural students was selected from universities. The data were collected through structured questionnaire and analyzed using descriptive statistics and a binary logistic regression. The findings showed that 44.16% of respondents were willing to start their own agribusiness venture after graduation with a preference for agro-processing enterprises (35.48%) and crop production enterprises (26.45%). The significant factors that influence agricultural students’ entrepreneurial intention in agribusiness were age, their major field of study, type of university attended, previous experience in agribusiness, a role model as a friend, and perception of agribusiness environment. The study suggests the establishment of clubs for agribusiness entrepreneurship in agricultural faculties and universities; showcasing of young entrepreneurs in agribusiness through national competitions, and events, such as “Agri-Enterprise Week” at universities, inviting young agribusiness entrepreneurs to share their experiences with the students in the next generation as guests lecturer; and the creation by the government of a conducive agribusiness environment for youth graduates. In the light of these insights, several paths for future research emerge.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47745297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-29DOI: 10.1080/15228916.2021.2018226
J. Bawole, Z. Langnel
ABSTRACT The paper examines how corruption-induced inhibitions influence business-related corruption from the perspectives of business leaders in Ghana. Data were collected through focus group discussion with Chief Executive Officers (CEOs) of multi-national and local companies operating in Ghana. The findings show that business leaders encounter multiple regulatory agencies with duplicated and overlapping functions, multiple charges for virtually the same and duplicated services, multiple law enforcement agencies also performing regulatory functions at the Ports of entry, inadequate information on processes and costs of services, and inadequate channels for reporting corrupt activities in Ghana. The paper argues that these challenges trigger corruption-induced inhibitors which in turn, negatively affect the growth of the private-sector in Ghana.
{"title":"Corruption-Induced Inhibitions to Business: What Business Leaders Have to Say in Ghana","authors":"J. Bawole, Z. Langnel","doi":"10.1080/15228916.2021.2018226","DOIUrl":"https://doi.org/10.1080/15228916.2021.2018226","url":null,"abstract":"ABSTRACT The paper examines how corruption-induced inhibitions influence business-related corruption from the perspectives of business leaders in Ghana. Data were collected through focus group discussion with Chief Executive Officers (CEOs) of multi-national and local companies operating in Ghana. The findings show that business leaders encounter multiple regulatory agencies with duplicated and overlapping functions, multiple charges for virtually the same and duplicated services, multiple law enforcement agencies also performing regulatory functions at the Ports of entry, inadequate information on processes and costs of services, and inadequate channels for reporting corrupt activities in Ghana. The paper argues that these challenges trigger corruption-induced inhibitors which in turn, negatively affect the growth of the private-sector in Ghana.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2021-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48496663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-26DOI: 10.1080/15228916.2021.1984817
M. Mangaliso, Nomazengele A. Mangaliso, L. Ndanga, Howard Jean-Denis
ABSTRACT Most of the business models and theories available to assist organizations in adapting their strategies to today’s dynamic business environment are based on the Anglo-Saxon worldview. Yet most scholars acknowledge that these theories have limited application in cultures outside of the Anglo-Saxon world. There is a dearth of research that infuses Western conceived theories of management with indigenous ontologies. To close this gap, this paper discusses managing change from an African perspective with specific reference to sub-Saharan Africa. It utilizes the philosophy Ubuntu that pervades the subcontinent as the bedrock on which change management can be anchored, asserting that embracing the Ubuntu values offers the best outcomes for managing organizations in Africa. Using Kurt Lewin’s change management model, the paper shows how incorporating the indigenous ontologies based on ubuntu in its execution can lead to sustainable change management in the sub-continent.
{"title":"Contextualizing Organizational Change Management in Africa: Incorporating the Core Values of Ubuntu","authors":"M. Mangaliso, Nomazengele A. Mangaliso, L. Ndanga, Howard Jean-Denis","doi":"10.1080/15228916.2021.1984817","DOIUrl":"https://doi.org/10.1080/15228916.2021.1984817","url":null,"abstract":"ABSTRACT Most of the business models and theories available to assist organizations in adapting their strategies to today’s dynamic business environment are based on the Anglo-Saxon worldview. Yet most scholars acknowledge that these theories have limited application in cultures outside of the Anglo-Saxon world. There is a dearth of research that infuses Western conceived theories of management with indigenous ontologies. To close this gap, this paper discusses managing change from an African perspective with specific reference to sub-Saharan Africa. It utilizes the philosophy Ubuntu that pervades the subcontinent as the bedrock on which change management can be anchored, asserting that embracing the Ubuntu values offers the best outcomes for managing organizations in Africa. Using Kurt Lewin’s change management model, the paper shows how incorporating the indigenous ontologies based on ubuntu in its execution can lead to sustainable change management in the sub-continent.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2021-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44747936","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-21DOI: 10.1080/15228916.2021.1962156
M. D. Watabaji, Arega Shumetie
ABSTRACT The aim of this study is to investigate the interactions among political instability, corruption and enterprise performance in some selected African countries. Survey data collected by the World Bank from 5,780 enterprises in 2013 and 3,616 enterprises in 2016 from some 18 African countries were used for this study. Descriptive statistics and econometric models were employed for data analysis. We found that covariates such as corruption, power outage, budget and time allotted for R&D, participation in foreign markets, and provision of formal training to employees showed greasing effects on the wheels of enterprise performance in Africa, due to poor functioning of the institutions. On the other hand, political instability and being confined to domestic markets have mediating sanding effects on enterprise performance. The originality and relevance of this study are based on its novelty to establishing a nexus among corruption, political instability and enterprise performance in African context based on survey data collected from 18 African countries and thus providing a new insight on the causal relationships among these key variables.
{"title":"Political Instability, Corruption and Enterprise Performance Nexus: Lessons and Policy Implications for Some Selected African Countries","authors":"M. D. Watabaji, Arega Shumetie","doi":"10.1080/15228916.2021.1962156","DOIUrl":"https://doi.org/10.1080/15228916.2021.1962156","url":null,"abstract":"ABSTRACT The aim of this study is to investigate the interactions among political instability, corruption and enterprise performance in some selected African countries. Survey data collected by the World Bank from 5,780 enterprises in 2013 and 3,616 enterprises in 2016 from some 18 African countries were used for this study. Descriptive statistics and econometric models were employed for data analysis. We found that covariates such as corruption, power outage, budget and time allotted for R&D, participation in foreign markets, and provision of formal training to employees showed greasing effects on the wheels of enterprise performance in Africa, due to poor functioning of the institutions. On the other hand, political instability and being confined to domestic markets have mediating sanding effects on enterprise performance. The originality and relevance of this study are based on its novelty to establishing a nexus among corruption, political instability and enterprise performance in African context based on survey data collected from 18 African countries and thus providing a new insight on the causal relationships among these key variables.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2021-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49627350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-15DOI: 10.1080/15228916.2021.1969191
Francis Donkor, Isaac Sekyere, Frank Akwasi Oduro
ABSTRACT The purpose of this research is to investigate the psychological mechanisms that cause the influence of transformational and transactional leadership on employee performance. Based on employee stewardship theory (EST) and social exchange theory (SET), an organizational commitment was selected as a perfect moderating variable to conduct the study. The data were collected from sixteen (16) organizations in the public sector of Ghana, consisting of 330 full-time employees. The results indicate that organizational commitment positively moderates transformational leadership while transactional leadership does not. We realized that when transformational leadership is high, organizational commitment goes up, thereby increasing employee performance. On the other hand, when transactional leadership goes up, organizational commitment decreases, causing employees performance to dwindle. Therefore, transactional leaders should augment their approach with transformational leadership to increase employee performance. This research offers practical implications relevant to provide strategies for leaders to PSOs to influence employees to perform beyond the limit.
{"title":"Transformational and Transactional Leadership Styles and Employee Performance in Public Sector Organizations in Africa: A Comprehensive Analysis in Ghana","authors":"Francis Donkor, Isaac Sekyere, Frank Akwasi Oduro","doi":"10.1080/15228916.2021.1969191","DOIUrl":"https://doi.org/10.1080/15228916.2021.1969191","url":null,"abstract":"ABSTRACT The purpose of this research is to investigate the psychological mechanisms that cause the influence of transformational and transactional leadership on employee performance. Based on employee stewardship theory (EST) and social exchange theory (SET), an organizational commitment was selected as a perfect moderating variable to conduct the study. The data were collected from sixteen (16) organizations in the public sector of Ghana, consisting of 330 full-time employees. The results indicate that organizational commitment positively moderates transformational leadership while transactional leadership does not. We realized that when transformational leadership is high, organizational commitment goes up, thereby increasing employee performance. On the other hand, when transactional leadership goes up, organizational commitment decreases, causing employees performance to dwindle. Therefore, transactional leaders should augment their approach with transformational leadership to increase employee performance. This research offers practical implications relevant to provide strategies for leaders to PSOs to influence employees to perform beyond the limit.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2021-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47559491","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-10-09DOI: 10.1080/15228916.2021.1975488
George Tweneboah, M. Asamoah, Peterson Owusu Junior
ABSTRACT This study sets out to explore the predictability of global foreign exchange rates vis-à-vis the South African rand using daily nominal exchange rates from January 2010 to February 2018. The estimation techniques include automatic portmanteau test, wild bootstrap variance ratio test, Dominguez–Lobato test for martingale difference hypothesis, and generalized spectral tests. We investigate the time-varying predictability by employing the fixed-length rolling window approach. The full sample results indicate significant predictability of some exchange rates while some suggest no predictability. The rolling window approach established that all the foreign exchange markets go through episodes of significant predictability and episodes of unpredictability. The currency investment space is dynamic and that makes it imperative for market participants to be adaptable.
{"title":"On Exchange Rate Predictability and Adaptive Market Hypothesis in South Africa","authors":"George Tweneboah, M. Asamoah, Peterson Owusu Junior","doi":"10.1080/15228916.2021.1975488","DOIUrl":"https://doi.org/10.1080/15228916.2021.1975488","url":null,"abstract":"ABSTRACT This study sets out to explore the predictability of global foreign exchange rates vis-à-vis the South African rand using daily nominal exchange rates from January 2010 to February 2018. The estimation techniques include automatic portmanteau test, wild bootstrap variance ratio test, Dominguez–Lobato test for martingale difference hypothesis, and generalized spectral tests. We investigate the time-varying predictability by employing the fixed-length rolling window approach. The full sample results indicate significant predictability of some exchange rates while some suggest no predictability. The rolling window approach established that all the foreign exchange markets go through episodes of significant predictability and episodes of unpredictability. The currency investment space is dynamic and that makes it imperative for market participants to be adaptable.","PeriodicalId":46981,"journal":{"name":"Journal of African Business","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2021-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45113866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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