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Boamah, Nicholas Addai

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  • Paper Name: Risk-return characteristics and integration of the Ghana stock exchange
  • Department Affiliation: Applied Finance and Actuarial Studies
  • Supervisor's Names:
    • Doctor Edward Watts
    • Associate Professor Geoff Loudon


This study investigates the characteristics of the GSE and its implication for global portfolio diversification. It examines the severity of thin trading on the GSE and its insinuations for market risks and returns. It will also analyse the impact of firm fundamentals on equity returns on the GSE. The degree of integration between the GSE and the global financial market would also be investigated. It will find out the effect of market barriers on the GSEs performance.


The study will employ both parametric and non-parametric tests. It will use weekly stock market data from the GSE.


The study will make original contribution by filling significant gap in the Ghanaian literature.


There are no findings yet as the study is in its early stages.

Practical/social implications:

Contribute to the enhancement of the GSEs performance.


Risk, Return, Stock Market, thin trading, Ghana.