کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
957903 | 1478806 | 2013 | 19 صفحه PDF | دانلود رایگان |
• We examine the association between corporate governance and company performance.
• We find a positive association between governance and accounting performance.
• We find a negative association between governance and market valuation.
• We find not all governance practices are highly associated to performance.
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.
Journal: Journal of Economics and Business - Volume 70, November–December 2013, Pages 92–110