Search results
1 – 5 of 5Otuo Serebour Agyemang, Christopher Gbettey, John Gartchie Gatsi and Innocent Senyo Kwasi Acquah
The purpose of this study is to examine the link between country-level corporate governance and foreign direct investment in African economies for the period 2009-2015.
Abstract
Purpose
The purpose of this study is to examine the link between country-level corporate governance and foreign direct investment in African economies for the period 2009-2015.
Design/methodology/approach
The authors use annual panel data of 40 African economies over the period of the study and use the system generalized method of moments (GMM) to establish the relationship between country-level corporate governance and foreign direct investment.
Findings
The authors find that African economies characterized by firms with high ethical values tend to attract a great deal of foreign direct investment. In addition, they highlight that when an economy is associated with effective corporate boards, it tends to attract much foreign direct investment. Further, this study reveals that the level of minority shareholders’ interests’ protection in an economy has a significant positive relationship with foreign direct investment. Finally, they document a negative relationship between effectiveness of regulation of securities and exchanges and foreign direct investment.
Practical implications
It is advised that sound and implementable corporate governance structures devoid of political interferences should be put in place in African economies, if the aim of using foreign direct investment to mitigate poverty by 2015 as part of the Millennium Development Goals is to be attained.
Originality/value
Empiricists have devoted considerable effort to estimate the factors that influence the level of foreign direct investment into African economies without taking into consideration the corporate governance structures in these economies. However, this paper seeks to examine the relationship between country-level corporate governance structures and foreign direct investment in African economies.
Details
Keywords
Audrey Afua Foriwaa Adjei, John Gartchie Gatsi, Michael Owusu Appiah, Mac Junior Abeka and Peterson Owusu Junior
The study aims to assess the interplay between financial globalization, effective governance and economic growth in sub-Saharan African (SSA) economies.
Abstract
Purpose
The study aims to assess the interplay between financial globalization, effective governance and economic growth in sub-Saharan African (SSA) economies.
Design/methodology/approach
This study uses the Generalized Method of Moment Estimation and the Panel Quantile Regression techniques to analyze how financial globalization and governance impact sub-Saharan African economies.
Findings
The results show that governance is vital to the region's economic development. In order to achieve significant growth, sub-Saharan African economies must prioritize actions that promote good governance.
Research limitations/implications
The study is limited to sub-Saharan African economies.
Practical implications
It is crucial for the sub-Saharan Africa economies to concentrate on strengthening governance frameworks in order to realize its full economic potential because improvements in governance quality would have a favorable effect on economic growth.
Social implications
The findings indicate that both capital inflows and governance dynamics are essential for fostering economic growth in SSA economies. Also, balancing globalization's benefits with effective governance is crucial for promoting sustainable growth in SSA.
Originality/value
This paper fills a gap in literature by using the KOF financial globalization index to assess the impact of financial globalization and governance on economic growth in sub-Saharan African economies.
Details
Keywords
Otuo Serebour Agyemang, Mavis Osei-Effah, Samuel Kwaku Agyei and John Gartchie Gatsi
This paper aims to examine how country-level corporate governance structures influence the level of protection of minority shareholders’ rights in the context of Africa.
Abstract
Purpose
This paper aims to examine how country-level corporate governance structures influence the level of protection of minority shareholders’ rights in the context of Africa.
Design/methodology/approach
Data are collected from the world competitiveness report for the period 2010-2015. To examine the validity of the study’s hypotheses empirically, the authors use ordinary least squares with correlated panel-corrected standards error (PCSE).
Findings
This paper offers additional empirical evidence on the level of protection of minority shareholders’ rights in Africa. It highlights that country-level corporate governance structures such as efficacy of corporate boards, strength of investor confidence, regulations of securities exchanges and the operation of the Big 4 accounting firms have significant positive impacts on the level of protection of minority shareholders’ rights.
Research limitations/implications
This paper fails to include all African countries because of non-availability of a report for some African countries. Thus, the findings on the level of protection of minority shareholders’ rights in a country are applicable to the countries used in this study.
Practical implications
This paper emphasizes on the relevance of country-level corporate governance structures to ensuring a reasonable level of protection of minority shareholders’ rights.
Originality/value
This paper partially fills the gap regarding the absence of an empirical cross-country study on how country-level corporate governance structures influence the level of protection of minority shareholders’ rights.
Details
Keywords
John Gartchie Gatsi and Michael Owusu Appiah
The study explores the relationship among economic growth, population growth, gross savings and energy consumption over the period 1987– 2017.
Abstract
Purpose
The study explores the relationship among economic growth, population growth, gross savings and energy consumption over the period 1987– 2017.
Design/methodology/approach
The autoregressive distributed lag (ARDL) bounds test approach by Pesaran et al. (2001) was employed to investigate variables for the study.
Findings
In the key findings, both gross savings and population growth negatively affect economic growth. However, energy consumption has positive impact on economic growth.
Practical implications
These findings call for policy portfolios to address the impacts of gross savings and population growth on economic development. In particular, the financial sector needs to be revamped to be more efficient in channeling funds from the surplus units to the deficit units. It is recommended that investment be made in financial and technological innovation to provide efficient access to credits and other financial products even though individual savings may not move with economic growth.
Originality/value
Many studies have explored the nexus between savings and economic growth without considering population growth and energy consumption. In this study, the relationship among savings, economic growth, population growth and energy consumption provide additional knowledge in policy formulation.
Details