Does Corporate Governance Structures Predict Firm’s Market Value? Empirical Evidence From Ghana

Ahulu, Helena; MacCarthy, John

doi:10.32479/ijefi.8874

Cited by 11 publications

(10 citation statements)

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“…The results of the research (Indriastuti and Kartika, 2021;Ahulu and MacCarthy, 2020;Phuong and Hung, 2020;Masitha and Djuminah, 2019) explain the significant positive relationship of the board of directors on corporate value, this is because in the company there will always have a conflict between the directors and shareholders. Thus, the board of directors was formed as a mechanism to monitor the activities of the company's directors.…”

Section: Introductionmentioning

confidence: 91%

“…The research of Ahulu and MacCarthy (2020) revealed that board size and corporate value have a significant positive relationship. This relationship is aligned with the theory of agency and GCG guidelines that separate which CEO position from the chairman of the board position will be impacted the performance of realizing maximum corporate value.…”

Section: Introductionmentioning

confidence: 99%

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The Effect of Corporate Governance on Corporate Value: The Role of Enterprise Risk Management

Sepriani

Candy

2022

JMBK

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In order to determine the effect of corporate governance on the corporate value, then moderating the relationship with enterprise risk management (ERM) is the aim of this study. This study collected secondary data from financial statements and annual reports for the 2016-2020 period of 87 companies as the sample and used panel regression as the analysis method. The results showed a significant positive effect of the audit committee on corporate value, while an independent commissioner had a significant negative effect. This study also shows no significant effect on the corporate value of managerial ownership, institutional ownership, board size, and board director. However, ERM moderated the relationship between the audit committee and corporate value and between managerial ownership and corporate value. Keyword: Corporate governance, corporate value, ERM.

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Section: Introductionmentioning

confidence: 91%

Section: Introductionmentioning

confidence: 99%

The Effect of Corporate Governance on Corporate Value: The Role of Enterprise Risk Management

Sepriani

Candy

2022

JMBK

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“…A total score of seven indicates a higher CG practice and a minimum score of 0 indicates that the firm does not comply with corporate governance practice. We expect a positive relationship between corporate governance and the bank's performance (Claessens & Yurtoglu, 2013;Love, 2011;Ahulu & MacCarthy, 2020). According to Rajagopalan and Zhang (Rajagopalan & Zhang, 2008), good corporate governance practices reduce agency costs, minimize information asymmetry, lower capital costs, build trust for the stakeholders, and improve a firm's performance.…”

Section: Control Variables (Ie Size and Growth)mentioning

confidence: 99%

Moderating Role of Risk Management between Risk Exposure and Bank Performance: Application of GMM Model

Eklemet,

MacCarthy,

Gyamera

2024

TEL

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This paper assessed risk management as a moderating variable between risk exposure and a bank's performance. A quantitative research methodology was employed to collect secondary data from 20 licensed banks in Ghana from 2013 to 2022, giving a total of 200 observations for this study. The study employed the dynamic panel System Generalized Method of Moments to assess the effect of risk exposure on the bank's performance in Ghana. The Generalized Method of Moments was employed in this research to control the issues of endogeneity and unseen heterogeneity. Secondly, the result from the moderating analysis showed that risk management moderates the negative relationship between risk exposure and the bank's performance. The findings highlight the importance of strengthening the corporate governance structure to moderate or enhance the relationship between risk management and the bank's performance. The study recommended that the banks in Ghana ought to be more proactive in their assessment and management of the bank's credit risk and liquidity risk to mitigate their adverse effect on the bank's performance.

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“…Given that many corporate governance experts find CEO duality an undesirable practice, many studies have found a negative relationship between ACI and the firm performance (…), even though there are some mixed outcomes in the literature. The separation of the position provides an opportunity to assess independently the performance of the CEO and the executive management to require better accountability from management (Ahulu & MacCarthy, 2019;Monks & Minow, 2004). The study equates a CEO-non-duality variable as "0" and when the CEO also serves as the Board Chairman else "1" if the position is handled by different persons.…”

Section: Independent Variables (Ie Aci Ceo Bsize and Ned)mentioning

confidence: 99%

Do Audit Committees and Corporate Governance Mechanisms Affect the Bank’s Performance? Empirical Evidence from Panel Data Analysis

Eklemet,

Mohammed,

Gyamera

et al. 2023

TEL

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This paper assessed the effect of audit committee independence and corporate governance mechanism on a bank's performance. A quantitative research method was adopted to collect secondary data from 20 licensed banks in Ghana from 2013 to 2022, giving a total of 200 observations for this study. Panel data regression analysis revealed that audit committee independence and corporate governance mechanism accounted for 77.83% of the variation of the bank's performance for the period under study. Furthermore, the study revealed a significant and positive relationship between CEO-non-duality, non-executive director, audit committee independence, and the bank's performance. The study recommends that the chairman of both the board and audit committee should be independent directors and any offending firm who violated this provision should be fined.

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Does Corporate Governance Structures Predict Firm’s Market Value? Empirical Evidence From Ghana

Cited by 11 publications

References 0 publications

The Effect of Corporate Governance on Corporate Value: The Role of Enterprise Risk Management

The Effect of Corporate Governance on Corporate Value: The Role of Enterprise Risk Management

Moderating Role of Risk Management between Risk Exposure and Bank Performance: Application of GMM Model

Do Audit Committees and Corporate Governance Mechanisms Affect the Bank’s Performance? Empirical Evidence from Panel Data Analysis

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