CHAPTER FOUR RESULTS AND DISCUSSION This chapter focused on results and discussion. The chapter presented data and analysis of results of primary data collected from the survey. SPSS was used to analyze descriptive data. A total one hundred (100) questionnaires were administered on staff of the Ecobank Ghana Limited and it is constituted of back office staff, front office (customer service), sales and marketing executives, administrators, opinion leaders and other stakeholders. Only seventy five (75) questionnaires were completed and retrieved giving a response rate of hundred percent (75%). Demographic Data Gender Distribution of Respondents The gender of respondents presented is shown in Table 1. About 60% of the respondents were male, which formed the majority of the respondents, whiles 40% of the respondents represented female. Table 1: Gender Distribution of Respondents Gender Frequency Percent Male 45 60.0 Female 30 40.0 Total 75 100.0 Source: Field Survey, 2019
Level of Education The results from Table 2 shows the level of education of the respondent. About 8% of the respondent were holding certificate, diploma holders constituted 12% of the respondents, about 28% had their master’s degree, whiles bachelor’s degree holders who participated in the survey formed about 52% of the respondents. Table 2: Level of Education Education Level Frequency Percent Certificate 6 8 Diploma 9 12 Bachelor’s Degree 39 52 Master’s Degree 21 28 Total 75 100.0 Source: Field Survey, 2019 Title of Respondents The results from Table 3 shows the title of the respondent. Management staff constituted about 16% of the respondents, senior staff formed about 36% of the respondents, whiles junior staff who participated in the survey formed about 48% of the respondents.
Table 3: Title of Respondents Title Frequency Percent Management Staff 4 16.0 Senior Staff 9 36.0 Junior Staff 12 48.0 Total 25 100.0 Source: Field Survey, 2019 Inferential Statistics The study further applied multiple regressions to determine the predictive power of the risk management practices on financial performance of insurance companies in Ghana. Regression Analysis A multiple regression analysis was conducted to test the relationship between the independent variables (risk management practices) and the financial performance of insurance companies in Ghana. The SPSS tool was applied to code, enter and compute the measurements of the multiple regressions for the study. Table 4: Model Summary Model R R Square Adjusted Square Std Error of the Estimate 1 0.846 0.7157 0.679 0.5382
Coefficient of determination (R Square) explains the extent to which changes in the dependent variable can be explained by changes in the independent variables or the percentage of variation in the dependent variable (financial performance of insurance companies in Ghana) that is explained by all the four independent variables (risk management practices).
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