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There is an existing relationship among shareholders, boards of directors and management of companies. Corporate governance practices of companies are expected to ensure that this relationship maximises the wealth of shareholders. Differences exist among corporate governance of companies listed on the Ghana Stock Exchange. Companies, for purposes of liquidity, hold cash, but cash holdings also add to the cost of financing, according to working capital theories. The study, thus, sought to examine the relationship between corporate governance practices, ownership structure, cash holdings and firm value.

The study deployed the seemingly unrelated regression to reduce the problem of multicollinearity resulting from the strong relationship between cash reserves and some control variables.

The study found no significant relationship between board size and firm value. Similar findings were also made on the relationship between proportion of non-executive directors on the board and firm value. However, firms audited by the big four audit firms are valued higher by the capital market. Cash holdings of firms negatively affect performance, and this is statistically significant. A positive relationship arises between a firm’s cash holdings and its value as a result of debt financing, even though this is not significant.

The study is the first of its kind that deploys Tobin’s Q as a measure of firms’ value to reflect investors’ valuation of firms in Ghana. The study is also the first of its kind to test the interactive effect of debt financing and cash holdings on firm value in Ghana.

This paper aims to investigate how awareness influences the adoption of positive selection (PS) technology among smallholder yam farmers in West Africa. PS has the potential of increasing yield and reducing disease incidence and severity in yam production.

This paper applies the average treatment effect (ATE) methodology to estimate the rates of awareness and adoption of the PS technology and associated factors using data from 678 smallholder seed yam farmers in Ghana and Nigeria.

The results indicate that the actual adoption rates of PS technology are 58 and 55%, while the potential adoption rates are estimated at 89.5 and 79.3% for Ghana and Nigeria, respectively, if the PS technology was fully disseminated. This leads to adoption gaps of 31.7 and 24.8%, respectively, for Ghana and Nigeria stemming from incomplete awareness of the PS among the population of yam growing farmers. The PS adoption is high among the educated young farmers who are members of farmer based organizations and participate in demonstrations.

Promotional efforts for enhancing awareness and adoption of PS should target educated youth willing to participate in field demonstrations and should focus on scaling up of PS technology to ensure quality farmer saved seed yams and enhance yam productivity in West Africa.

The introduction of PS in seed yam production is quite recent also its introduction to seed yam farmers in West Africa. Subsequently, a better understanding of what the adoption status would be should everyone in the population of yam farmers are aware of PS is vital for policy, research and development.

This paper aims to discover the underlying mechanisms by which corporate financial policies, cash holdings, capital structure and dividend payouts, transmit their effects on firm value in the “Middle East and North Africa” (MENA) emerging markets.

The authors employ a novel integration of path modelling with parallel multiple mediation analysis to empirically test the hypothesised indirect effects through the mechanisms represented by the value of financial flexibility (VOFF) and agency costs.

The authors do not find any evidence of the association between cash holdings, dividend payouts, and firm value when the mechanisms through the VOFF and agency costs are considered. While these two forces, i.e. the VOFF and agency costs, have balanced mediation effects on the relationship between cash holdings and firm value, they represent equivalent and complementary mechanisms by which dividend payouts transmit their positive impact on firm value. Moreover, we document a significant negative partial mediation effect of agency costs on the relationship between leverage and firm value; however, we do not find any evidence supporting the mediation effect of the VOFF on such a relationship.

This paper sheds new light on the forces that govern the nature of the relationships between corporate financial policies and firm value.