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Article
Publication date: 23 May 2019

Otuo 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.

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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

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 27 September 2019

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

Accounting Research Journal, vol. 32 no. 3
Type: Research Article
ISSN: 1030-9616

Keywords

Open Access
Article
Publication date: 11 August 2020

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.

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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

Journal of Economics and Development, vol. 22 no. 2
Type: Research Article
ISSN: 1859-0020

Keywords

Content available

Abstract

Details

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 5
Type: Research Article
ISSN: 1472-0701

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