Impact of corporate governance on financial distress in listed companies in ghana
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Date
2023
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KNUST
Abstract
The study aimed to assess the impact of corporate governance on financial distress in listed companies in Ghana. The specific objectives of the study were to identify the effect of institutional ownership structure on financial distress of firms, determine the impact of Ghana stock exchange corporate governance index (GHCGI) on financial distress of firms, to ascertain the relationship between firm size and financial distress of firms and to determine the impact of board size on financial distress of firms. The sample size for the study comprised of the 26 existing listed companies in Ghana. Published annual reports of the listed companies were the main secondary source of data for the study. Panel data was used with a time series from the year 2015 to 2021. The findings showed that there is a statistically significant relationship between institutional ownership structure and financial distress of firms. Also, Ghana stock exchange corporate governance index had an insignificant relationship with financial distress. Again, it was observed that firm size had a statistically significant relationship with financial distress of the firms. Finally, it was revealed that board size had a statistically significant relationship with financial distress.
Description
A dissertation submitted to the department of accounting and finance, kwame nkrumah university of science and technology, kumasi in partial fulfilment of the requirement for the award of a master of business administration degree, finance.