Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter?
This study investigates the moderating role of ownership structure in the nexus between corporate governance and the financial performance of manufacturing firms in Ghana. The study uses GLS regression to analyze a panel dataset of 7 manufacturing firms over 14 years. We find a positive and signific...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2022-12-01
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| Series: | Cogent Business & Management |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23311975.2022.2101323 |
| _version_ | 1818014138254753792 |
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| author | Beatrice Sarpong-Danquah Kwasi Oko-Bensa-Agyekum Emmanuel Opoku |
| author_facet | Beatrice Sarpong-Danquah Kwasi Oko-Bensa-Agyekum Emmanuel Opoku |
| author_sort | Beatrice Sarpong-Danquah |
| collection | DOAJ |
| description | This study investigates the moderating role of ownership structure in the nexus between corporate governance and the financial performance of manufacturing firms in Ghana. The study uses GLS regression to analyze a panel dataset of 7 manufacturing firms over 14 years. We find a positive and significant effect of board size, audit committee independence, and size on firm performance. We, however, find a negative relationship between board remuneration and performance. We observe that block ownership moderates the relationship between board size, board independence, and the financial performance of manufacturing firms. Block shareholdings of the listed manufacturing firms in Ghana play a significant moderating role in the corporate governance-firm performance nexus. This study provides key insights into the influence of block shareholders on corporate governance activities and the eventual impact on the financial performance of manufacturing firms in Ghana, a phenomenon that has not been examined in the literature. |
| first_indexed | 2024-04-14T06:41:18Z |
| format | Article |
| id | doaj.art-b4a53ec236064be08e1bf67e64a8d8de |
| institution | Directory Open Access Journal |
| issn | 2331-1975 |
| language | English |
| last_indexed | 2024-04-14T06:41:18Z |
| publishDate | 2022-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Business & Management |
| spelling | doaj.art-b4a53ec236064be08e1bf67e64a8d8de2022-12-22T02:07:19ZengTaylor & Francis GroupCogent Business & Management2331-19752022-12-019110.1080/23311975.2022.2101323Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter?Beatrice Sarpong-Danquah0Kwasi Oko-Bensa-Agyekum1Emmanuel Opoku2Accounting and Finance, Kwame Nkrumah University of Science and Technology, Kumasi, GhanaAccounting and Finance, Kwame Nkrumah University of Science and Technology, Kumasi, GhanaAccounting and Finance, Kwame Nkrumah University of Science and Technology, Kumasi, GhanaThis study investigates the moderating role of ownership structure in the nexus between corporate governance and the financial performance of manufacturing firms in Ghana. The study uses GLS regression to analyze a panel dataset of 7 manufacturing firms over 14 years. We find a positive and significant effect of board size, audit committee independence, and size on firm performance. We, however, find a negative relationship between board remuneration and performance. We observe that block ownership moderates the relationship between board size, board independence, and the financial performance of manufacturing firms. Block shareholdings of the listed manufacturing firms in Ghana play a significant moderating role in the corporate governance-firm performance nexus. This study provides key insights into the influence of block shareholders on corporate governance activities and the eventual impact on the financial performance of manufacturing firms in Ghana, a phenomenon that has not been examined in the literature.https://www.tandfonline.com/doi/10.1080/23311975.2022.2101323corporate governancemanufacturing firmsownership structureperformanceGhanaG34 |
| spellingShingle | Beatrice Sarpong-Danquah Kwasi Oko-Bensa-Agyekum Emmanuel Opoku Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter? Cogent Business & Management corporate governance manufacturing firms ownership structure performance Ghana G34 |
| title | Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter? |
| title_full | Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter? |
| title_fullStr | Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter? |
| title_full_unstemmed | Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter? |
| title_short | Corporate governance and the performance of manufacturing firms in Ghana: Does ownership structure matter? |
| title_sort | corporate governance and the performance of manufacturing firms in ghana does ownership structure matter |
| topic | corporate governance manufacturing firms ownership structure performance Ghana G34 |
| url | https://www.tandfonline.com/doi/10.1080/23311975.2022.2101323 |
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