TITLE:
Determinants of Wood Prices: Analysis of Wood Retailers in Kumasi
AUTHORS:
Collins Kankam-Kwarteng, Jacob Donkor, Stephen Acheampong
KEYWORDS:
Determinants, Wood, Prices
JOURNAL NAME:
Open Journal of Business and Management,
Vol.4 No.1,
January
11,
2016
ABSTRACT: This paper investigates the determinants of wood pricing in Ghana. The purpose of this study is to
assess the factors that influence the prices of wood product at the various wood markets and retailers
in Kumasi which have large variety of wood and different categories of retailers in the industry.
The study employs a survey design where respondents are conveniently selected. A semistructured
questionnaire was designed to gather data from the respondents. STATA version 12.0
software and several sets of statistical analyses such as frequency tables, percentages, and mean
point values were performed. Linear regression was employed to estimate the determinants of
wood product prices in the wood markets and retail outlets in Kumasi metropolis. The findings of
this study suggest that, most of the price determining factors have a positive relationship with the
price of wood sold whilst others such as quantity of wood sold and low quality wood products have
a negative relationship with the price of wood product sold. Based on the findings of the study, the
researchers recommend to future researchers to concentrate further studies on how government
policies affect wood prices and also types of wood and their influences on prices.