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Examining the Moderating Role of the Automated Trading System on the Financial Performance of the Ghana Stock Exchange

Author

Listed:
  • Edward Domina Attafuah, (PhD)

    (Accountant, University Health Service, University for Development Studies)

  • Mr Godfred Amoako

    (Senior Audit Supervisor, Japan Motors Trading Company and Associates)

  • Lord Emmanuel Yamoah, PhD

    (Lecturer, Takoradi Technical University, Procurement and Supply Chain Department)

  • Mr Eric Akuamoah Boateng

    (Fair Wages and Salaries, Commission (Public Affairs Unit))

Abstract

The study investigates the role of the automated trading system on stock market capitalization, liquidity, efficiency, returns and volatility on the Ghana stock exchange. The project solely focus on secondary data from the internet databases of the Ghana Stock Exchange (GSE), and Bank of Ghana (BOG). The data is evaluated using a multivariate regression approach and includes monthly time series data from 2000 to 2020 as well as the volume of stock traded before and after the exchange is automated. The study finds that market performance has an impact on the automated trading system, and it also finds that the amount of stock traded is positively impacted by the automated trading system, exchange rates, and interest rates. Once more, the study draws the conclusion which asserts the economic indicator variable of the nation are marked via erratic and significant fluctuations in conversion rates. According to the report, the exchange’s transaction guidelines need to alter in order to provide shareholders the knowledge and confidence to make trading decisions on their own, without the assistance of a licensed stockbroker.

Suggested Citation

  • Edward Domina Attafuah, (PhD) & Mr Godfred Amoako & Lord Emmanuel Yamoah, PhD & Mr Eric Akuamoah Boateng, 2024. "Examining the Moderating Role of the Automated Trading System on the Financial Performance of the Ghana Stock Exchange," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 11(3), pages 774-797, March.
    • Handle: RePEc:bjc:journl:v:11:y:2024:i:3:p:774-797
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