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THE ROLE OF COST OF CAPITAL IN THE LINK BETWEEN ESG REPORTING AND FIRM PERFORMANCE Dwomor, Emmanuel; Mensah, Emmanuel
Jurnal Akuntansi dan Keuangan Indonesia Vol. 21, No. 2
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The attention surrounding Environmental, Social, and Governance (ESG) factors within the corporate realm has grown significantly, as evidence mounts regarding their influence on firm performance. This research explores the connection between ESG reporting and firm performance from emerging economies’ perspective, with the cost of capital acting as a mediator to enhance our understanding of how capital providers perceive the risk profile of ESG-compliant firms and thereby reward them through a reduction in the costs they demand on their invested capital. The study sourced annual reports data on a sample of 146 emerging market firms across 59 industries spanning 2019 to 2022 from 18 emerging economies. ESG data was sourced from Sustainalytics database. Panel data models were used in the analysis. The study discovers a positive link between ESG reporting and firm performance, indicating that companies with robust ESG reporting tend to fare better financially. Moreover, it identifies a negative relationship between ESG reporting and the cost of capital, implying that stronger ESG reporting practices lower a firm’s cost of capital. Additionally, the study ascertains the mediating role of the cost of capital in the relationship between ESG reporting and firm performance, emphasising its significance in shaping the financial outcomes of firms in emerging economies. The study extends stakeholder and legitimacy theories to emerging economies, emphasizing their adaptability. It highlights the mediating role of the cost of capital in the ESG-performance relationship, contributing to the literature. Practically, it shows ESG-compliant firms as lower-risk investments, offering guidance to investors and informing policymakers to foster ESG adoption and sustainability through regulations.
Design of a Class AB Power Amplifier For 5G Applications Aa-Daaryeb Nounyah, Joshua; Ansu Pormaa, Bernice; Mensah, Emmanuel; Ahmed, Abdul-Rahman; Gyaang, Raymond
Vokasi Unesa Bulletin of Engineering, Technology and Applied Science Vol. 2 No. 2 (2025)
Publisher : Universitas Negeri Surabaya or The State University of Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/vubeta.v2i2.37801

Abstract

This work discusses the utilization of GaN HEMT technology on Rogers substrate in the design as well as the analysis of a 200 MHz Class AB power amplifier tailored for use in the 5G sub 6 GHz frequency band, specifically targeting 2.4 GHz applications. Matching networks were devised employing cascaded L-section microstrip transmission lines, meticulously optimized for optimum output power, return loss, and PAE. The amplifier’s performance aligned exceptionally well with theoretical predictions. Electromagnetic simulation results showed a small signal gain of 13.634 dB with return losses maintaining below -12 dB across the desired operational bandwidth. Also, a power output of 40.052 dBm for a 29 dBm input power was obtained, coupled with a PAE of 54.148%. This demonstrates the effectiveness of the design approach in producing substantial power with heightened efficiency. Furthermore, the design exhibited enhanced linearity, even in the absence of commonly utilized feedback networks such as voltage dividers or emitter/source degeneration due to the inherent robustness of the proposed design. The meticulous optimization of matching networks and the adept utilization of simulation tools have culminated in a design boasting exceptional output power, efficiency, and linearity, thereby advancing the frontier of amplifier design for next-generation wireless communications.
Re-Examining The Financial Literacy – SME Growth Nexus: Fresh Evidence from Causal Mediation Analysis Addo, Selma Dzifa; Asante, Joseph; Mensah, Emmanuel
International Journal of Business, Management and Economics Vol. 4 No. 3 (2023): International Journal of Business, Management and Economics
Publisher : Training & Research Institute - Jeramba Ilmu Sukses (TRI-JIS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47747/ijbme.v4i3.1225

Abstract

The importance of SMEs to the growth of emerging economies cannot be overemphasized. SMEs remain an important source of employment and economic growth for most developing economies. However, it has been found that, most SMEs in developing countries are unable to survive even up to their fifth year of operation due to a multiplicity of factors including the level of financial literacy and risk attitude of SME owners. The current study aims to examine the effect of financial literacy on SME growth mediated by the risk attitude of SME owners. The study’s data was collected from SME owners/managers in Ghana. 500 questionnaires were administered and out of the 432 retrieved, 400 were deemed useful for analysis using causal mediation. The study found a significantly positive association between financial literacy and SME growth in the main outcome model. Also, risk attitude was found to be positively related to financial literacy in the mediation model, whereas risk attitude further mediated the relationship between financial literacy and SME growth which demonstrates that risk attitude plays an intermediary role in the association between financial literacy and SME growth. Our results support the dual process theory of reasoning, according to which decisions made by entrepreneurs to improve the growth and sustainability of their businesses are influenced by two different systems of thought: the automatic unconscious system, which is based on their risk tolerance, and the intentional conscious system, which weighs numerous factors and models in light of their financial literacy.