The Institutionalization of the Product of Financial Engineering Techniques on Listed Commercial Banks in Ghana

MIoD Dr. Edward Domina Attafuah, Seth Amoako (PhD) and Michael Kwakye, PhD Student, MIoD
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MIoD Dr. Edward Domina Attafuah: Accountant, University Health Service, University for Development Studies Member Institute of Directors
Seth Amoako (PhD): Lecturer, AAMUSTED Post Office Box 8984, Ahinsan Kumasi
Michael Kwakye, PhD Student, MIoD: Universidad Empresarial de Costa Rica Senior Tutor- University of Cape Coast Code – Zenith Campus, Accra

International Journal of Research and Scientific Innovation, 2024, vol. 11, issue 8, 1524-1556

Abstract: Well-considered financial engineering initiatives are what propel company success and general economic growth. This book aimed to improve knowledge of financial instruments used in project financing and the financial engineering process; however, no research has been done on the influence of financial engineering on the financial performance of commercial banks in Ghana. This study employed a descriptive survey design and a quantitative methodology to gather information on the influence of financial engineering on building project financing in Ghanaian commercial banks. The treatise concentrated on the banking industry with a spotlight on banks listed on Ghana Stock Exchange with operations in the Accra Metropolitan Assembly only, and both primary (questionnaire) and secondary (audited financial records) data were employed to analyse the treatise. The secondary data were analysed descriptively, while the analysed data were analysed proportionally. The regression technique was adopted to explore the relationship between financial engineering and building project finance. The results show a significant but negative association between the project finance market and project finance. Also, there was a powerful but positive association among the selected commercial banks between project finance instruments, market innovation and project finance. The treatise concludes that commercial banks in Ghana have adopted various financial engineering strategies to improve project finance and, by extension, financial performance. This treatise recommends that commercial banks in Ghana employ product innovation strategies such as product range extension, product replacement, product improvement, product repositioning and new product introduction to enable the banks to be more productive, grow faster, invest more and earn more profit.

Date: 2024
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