Abstract
This paper examines the extent to which publicly listed companies across Sub-Saharan African countries have adopted “good corporate governance” practices. We investigate the association of these practices with companies’ accounting performance and market valuation. The findings indicate that companies across Sub-Saharan Africa have only partly implemented good corporate governance practices. We find a positive association between our constructed index of good corporate governance practices and accounting performance. However, we find a negative association between the corporate governance index and the market valuation. When the sub-indices are considered, we find that only the board of directors and the audit committee sub-indices are associated positively and significantly with accounting performance. However, we find that only the audit committee sub-index is associated negatively and significantly with market valuation.
Originalsprog | Engelsk |
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Tidsskrift | Journal of Economics and Business |
Vol/bind | 70 |
Sider (fra-til) | 92-110 |
Antal sider | 19 |
ISSN | 0148-6195 |
DOI | |
Status | Udgivet - nov. 2013 |
Udgivet eksternt | Ja |
Emneord
- Corporate government index
- Company performance
- Sub-Saharan Africa