Corporate governance mechanisms and financial performance: evidence of quoted and unquoted firms in ghana
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Date
2023
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KNUST
Abstract
The global impact of corporate governance practices has increased in response to the collapse of large multinational corporations. The objective of this study is to examine the influence of corporate governance procedures on the financial performance of both publicly listed and privately held companies in Ghana. The research used a purposive selection methodology to choose a sample of 32 companies, consisting of 15 publicly traded organizations and 17 privately held enterprises. The data collection spans a duration of 9 years, namely from 2014 to 2022. The research used a panel quantile regression (PQR) methodology to examine the findings. The findings indicate that companies with a more diverse board of directors have improved financial performance. The study further emphasizes the need of having a diverse board in order to improve financial performance. It also warns against the possible negative consequences of CEO duality. In order to improve corporate governance and resolve the potential risks associated with CEO dualism, it is advisable for organizations to consider the separation of these responsibilities and establish comprehensive mechanisms for oversight and accountability
Description
A thesis presented to the Department of Accounting and Finance, Kwame Nkrumah University of Science and Technology In Partial Fulfilment of the Requirement for the Award of Master of Science (Accounting and Finance)