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Determinants of Shareholder Value Creation of Listed Banks in Ghana

Author

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  • Thomas Korankye

Abstract

This work aims at determining the determinants of shareholder value creation of listed banks in Ghana. The analyses are performed using panel data derived from the financial statements of the listed banks on the Ghana Stock Exchange (GSE) from 2006 to 2010 financial years inclusive. The results of the analysis show that leverage, dividend policy, and return on equity respectively are statistically significant positive determinants of shareholder value. This reveals that increase (or decrease) in leverage, dividend payout and profitability respectively enhances (or attenuates) the wealth of shareholders. The results also reveal that bank size is a significant determinant of shareholder value, but it is negatively related to the latter. Finally, although bank nature has a positive coefficient, it is not significant in determining shareholder value.

Suggested Citation

  • Thomas Korankye, 2013. "Determinants of Shareholder Value Creation of Listed Banks in Ghana," International Journal of Empirical Finance, Research Academy of Social Sciences, vol. 1(1), pages 7-12.
    • Handle: RePEc:rss:jnljef:v1i1p2
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    Cited by:

    1. Frimpong, Siaw, 2018. "Working capital policies and value creation of listed non-financial firms in Ghana: a panel FMOLS analysis," Business and Economic Horizons (BEH), Prague Development Center, vol. 14(4), pages 725-742, August.
    2. Enkeleda Lulaj & Etem Iseni, 2018. "Role of Analysis CVP (Cost-Volume-Profit) as Important Indicator for Planning and Making Decisions in the Business Environment," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 4, May - Aug.
    3. Isiye Clement Muyabila & Professor Charles M Rambo Ph.D. & Professor Raphael O Nyonje Ph., 2023. "Invariable Features of a Firm and Value Creation in Agency Banking Projects: A Case of Retail Banking in Kenya," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(10), pages 1093-1108, October.

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