Journal of Accounting Research, Business and Finance Management (e-ISSN: 2582-8851)

The Role of Financial Inclusion in Reducing Poverty: Mediating Effects of Income and Employment

2026-05-21T11:58:27+00:00

This study investigates the role of financial inclusion in reducing poverty, with particular attention to the mediating effects of income and employment. Grounded in a quantitative research design, the analysis utilizes regression techniques based on SPSS-simulated data to examine both the direct and indirect relationships among financial inclusion, income generation, employment opportunities, and poverty reduction outcomes. The conceptual framework of the study is built on the premise that improved access to financial services enables individuals and households to enhance productive economic participation, thereby influencing welfare outcomes through multiple channels. The empirical findings demonstrate that financial inclusion has a statistically significant and positive effect on both income levels and employment opportunities. Individuals with greater access to formal financial services, such as savings accounts, credit facilities, and digital payment systems, are more likely to engage in income-generating activities and secure stable employment. This improved economic participation subsequently contributes to a measurable reduction in poverty levels. The results also indicate that financial inclusion exerts a direct negative effect on poverty, suggesting that increased access to financial systems independently improves household welfare. Furthermore, the mediation analysis confirms that income and employment jointly serve as partial mediators in the relationship between financial inclusion and poverty reduction. This implies that while financial inclusion directly alleviates poverty, a substantial portion of its impact operates indirectly through enhanced income generation and expanded employment opportunities. The presence of partial mediation highlights the multifaceted mechanisms through which financial inclusion influences socioeconomic outcomes. Overall, the study underscores the importance of financial inclusion as a critical policy instrument for promoting inclusive economic growth. It suggests that expanding equitable access to financial services can play a vital role in strengthening income security, improving labor market participation, and ultimately reducing poverty in developing economies. These findings provide valuable implications for policymakers aiming to design effective financial and development strategies for sustainable poverty alleviation.

Impact of Corporate Governance on Firm Value: Evidence from Non-Financial Listed Companies in Emerging Markets

2026-06-03T09:56:40+00:00

This research examines the linkage between governance frameworks and enterprise valuation by utilizing information drawn from publicly traded companies operating within a developing market environment. A longitudinal panel dataset spanning 2015 to 2023 is assessed using both fixed-effects and random-effects econometric models. Organizational performance is measured using market-oriented (Tobin’s Q) alongside accounting-based (Return on Assets) metrics. The empirical outcomes reveal that governance characteristics—especially the proportion of independent directors and the level of institutional shareholding—are positively related to firm valuation. Conversely, higher financial debt is associated with a decline in value, indicating greater exposure to financial risk. These results emphasize the significance of robust governance systems in improving corporate performance and provide actionable implications for regulatory authorities, investors, and corporate decision-makers.

Capital Structure Dynamics and Performance of Universal Banks in Ghana: Pre- and Post-COVID-19 Analysis

2026-07-13T05:27:50+00:00

This study investigates the effect of capital structure on the profitability of universal banks in Ghana, focusing on how the relationship changed before and after the COVID-19 pandemic. Using audited financial statements obtained from banks, the Bank of Ghana, and the Ghana Association of Bankers, profitability was measured by Return on Assets (ROA) and Net Profit Margin (NPM), while capital structure was represented by equity, short-term debt, long-term debt, and total debt. Fixed and random effects regression models with robust standard errors were employed. The results show that total debt had a negative and significant effect on profitability in the early years (β = –0.21, p < 0.05) but turned positive in later years (β = 0.18, p < 0.10), suggesting that debt financing became more efficient as the banking sector adjusted to structural reforms. Equity maintained a consistent positive influence on profitability, while both short- and long-term debts were largely unproductive. Asset tangibility and size exhibited positive control effects. Overall, the findings validate the trade-off theory in explaining the dynamic adjustment of capital structure under changing financial conditions.

Under-pricing and Post-listing Performance of Indian IPOs: An Empirical Study using NIFTY 500 Benchmark

2026-07-05T04:41:20+00:00

This study examines the under-pricing and post-listing performance of Indian initial public offerings (IPOs) listed during 2020–2024, using the NIFTY 500 as the market benchmark. It adopts an empirical, quantitative and analytical design based on a structured dataset of 202 IPOs. Listing-day under-pricing and post-listing performance over 30-day, 180-day and 365-day horizons are evaluated using descriptive statistics, a one-sample t-test and paired-sample t-tests. The sample exhibits statistically significant listing-day under-pricing, with an average listing return of 21.64 per cent. Raw post-listing returns remain positive across all three horizons; however, the differences between IPO returns and corresponding NIFTY 500 returns are small and statistically insignificant. The analysis is limited to the IPOs and variables included in the final research dataset and does not incorporate qualitative determinants such as underwriter reputation, anchor-investor participation and grey market premium. The results support a listing-gain interpretation of IPO participation more strongly than persistent aftermarket alpha. The evidence is relevant to investors, issuers, lead managers and regulators concerned with efficient issue pricing and informed market participation. The paper contributes to contemporary Indian evidence by jointly analysing under-pricing and benchmark-adjusted post-listing performance for the 2020–2024 IPO cycle using a broad market proxy.