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Prof. Joseph Magnus Frimpong, an Associate Professor in Finance is part of the initial team that set up the Business School in 2005. He is a chartered member of several professional bodies including Chartered Management Consultants, Chartered Institute of Administration and Management, Chattered Institute of Logistics and Transport. He received his PhD in Finance from KNUST and a master’s in Project Analysis, Finance and Investment from the University of York, Heslington, York, England.

Prof Frimpong’s research has been published in the top accounting and finance journals including the European Journal of Economics, Finance and Administrative Sciences, The Business Review, Cambridge, Journal of Money, Investment and Banking, American Journal of Economics and Business Administration, and the International Journal of Economic Perspectives. His papers have also won several best paper awards at numerous conferences.

Prof Frimpong has received the Notable Best Researcher award in KNUST and he has been recognized for his teaching abilities and has taught numerous MBA, MPhil, PhD and Executive Education courses at KSB.


List of Publications

  • Frimpong, J.M. and Oteng-Abayie, E.F, "Modelling and Forecasting Volatility of Returns on the Ghana Stock Exchange using GARCH Models", American Journal of Applied Sciences 3 (10): 2042-2048, 2006. ISSN 1546-9239
  • Oteng-Abayie, E.F, and Frimpong, J.M., "Bounds Testing Approach to Cointegration: An Examination of FDI, Trade, and Growth Relationships." American Journal of Applied Sciences, 3(11): 2079-2085, 2006. ISSN 1546-9239 
  • Frimpong, J.M. and Oteng-Abayie, E.F, "The Impact of External Debt on Economic Growth in Ghana". Journal of Science and Technology (JUST) Vol.26 No.3 December 2006. ISSN 0855-0395
  • Frimpong J. M. "Economic Forces and the Stock Market in a Developing Economy: Cointegration Evidence from Ghana", European Journal of Economics, Finance and Administrative Sciences, ISSN 1450-2887 Issue 16 (2009) EuroJournals, Inc. 2009.
  • Frimpong J. M. and Oteng-Abayie, E. F.: "Size of Government Expenditure and Economic Growth in Three WAMZ Countries" The Business Review, Cambridge Volume 14, Number 1, December 2009 ISSN 1553-5827 
  • Frimpong, J.M., "Capital Market Efficiency: An Analysis of Weak-form Efficiency on the Ghana Stock Exchange", Journal of Money, Investment and Banking, ISSN 1450-288X Issue 5 (2008), EuroJournals Publishing, Inc. 2008. http:/
  • Frimpong, J.M. and  E.F. Oteng-Abayie, "Bivariate Causality Analysis between FDI Inflows and Economic Growth in Ghana", International Research Journal of Finance and Economics, ISSN 1450-2887 Issue 15 (2008). 
  • OtengAbayie, E. F., and Frimpong, J. M. "Aggregate Import Demand and Expenditure Components in Ghana", Journal of Social Sciences 4(1): 1-6, 2008. ISSN 1549-3652.
  • Frimpong J. M.   "Investigating the efficiency of Ghana banks: a non-parametric approach." American Journal of Scientific Research (AJSR) ISSN 1450-223X Issue 7 (2010), pp.64-76 © EuroJournals Publishing, Inc. 2010
  • Frimpong, J.M. and  E.F.  Oteng-Abayie,  "When  is  Inflation  Harmful? Estimating the Threshold Effect for Ghana", American Journal of Economics and Business Administration, 2 (3): 225-232, ISSN 1945-5488 (2010)
  • Frimpong J. M. and Marbuah, G. "The Determinants of Private Sector Investment in Ghana: An ARDL Approach", European Journal of Social Sciences (EJSS), Vol 15 Issue 2 (2010)
  • Frimpong J. M.   "An Empirical Analysis of Stock Pricing, Systematic Risks and Returns on the Ghana Stock Exchange." The Business Review, Cambridge, Vol. 16, No.2, December 2010.
  • Frimpong J. M. and Oteng-Abayie, E. F.  "On the Predictability of Inflation Rate in Ghana: A Box-Jenkins Approach", International Journal of Economic Perspectives, 2011, Volume 5, Issue 1, 55-66, ISSN:1307-1637 © International Economic Society.
  • Frimpong J. M.  "The Financial Performance of Commercial Banks in Ghana: An Empirical Analysis", Banking and Finance Letters, 2010, Volume 2, Issue 3, 349-360 ISSN 1308-6588 © International Economic Society.
  • Boako, G., Acheampong, I.A., Frimpong, J.M., Domeher, D., (2015). “Economic Forces and Equity Returns in Ghana: Symmetric Dependence with Quantile Regression”. Ghanaian Journal of Economics, pp.86-108.
  • Boako, G., Omane-Adjepong, M., and Frimpong J.M. (2015). Stock returns and exchange rate nexus in Ghana: a Bayesian Quantile Regression Approach. South African Journal of Economics, pp. 1 – 31. 
  • Boako, G., Atta-Acheampong, I., Frimpong, J. M., Domeher, D. (2015). Economic forces and equity market returns in Ghana: Asymmetric Dependence with Quantile Regression. In: 12th African Finance Journal Conference, President Protea Hotel, Cape Town, South Africa, 21 – 22 May, 2015.
  • Boako, G., Omane-Adjepong, M., Frimpong, J.M. (2015). Stock Returns and Exchange Rate Nexus in Ghana: a Bayesian Quantile Regression Approach. In the Proceedings of the 12TH African Finance Journal, President Protea Hotel – Cape Town, South Africa 21-22 May, 2015.
  • Boako, G., Acheampong, I.A., Domeher, D., Frimpong, J.M. (2015). Volatility Clustering and Non-Linear Dependence between Economic Forces and Equity Returns in Ghana: AIB Conference Gordon Institute of Business, University of Pretoria, Johannesburg 25-28 August, 2015. 
  • Domeher, D., Frimpong, J. M ., Appiah, T. (2015). Adoption of financial innovation in the Ghanaian banking industry. African Review of Economics and Finance. Vol. 6, Issue 2, pp. 88 -114.



Ayim Complex Room FF28
+233 (0) 244018700
Associate Professor

PhD, MSc (Project Analysis, Finance and Investment), BA (Soc. Sc.), Advanced Teachers Cert., Advanced Diploma (Professional Studies.)