The impact of corporate governance measures on the performance of West African IPO firms

Hearn, Bruce

doi:10.1016/j.ememar.2011.02.004

Cited by 37 publications

(43 citation statements)

References 59 publications

(85 reference statements)

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“…Thus, many of the corporate governance practices promoted in Sub-Saharan Africa originate from developed countries (Hearn, 2011). However, developed countries have, over a long period of time, developed and implemented systems of laws and regulations that govern stock markets and other economic activities (La Porta et al, 2008).…”

Section: Relevance Of Corporate Governance In Sub-saharan African Coumentioning

confidence: 99%

Corporate governance and company performance across Sub-Saharan African countries

Munisi

Randøy

2013

Journal of Economics and Business

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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.

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Section: Relevance Of Corporate Governance In Sub-saharan African Coumentioning

confidence: 99%

Corporate governance and company performance across Sub-Saharan African countries

Munisi

Randøy

2013

Journal of Economics and Business

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“…Hearn (2011) investigated the influence of corporate governance measures on the performance of West African IPO firms. A study by Munisi, Hermes and Randoy (2014) focused on examining the relationship between board and ownership structure for firms listed on the stock exchanges of 12 sub-Saharan African countries.…”

Section: Corporate Governancementioning

confidence: 99%

The impact of corporate governance on firm competitiveness and performance of small and medium enterprises in South Africa: A case of small and medium enterprises in Vanderbijlpark

2017

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Orientation: Corporate governance adoption and compliance are an issue augmenting in importance recently and have been extended to business enterprises of any size including small and medium enterprises (SMEs).Research purpose: This study seeks to examine the impact of corporate governance adoption on the firm competitiveness and performance of SMEs in Vanderbijlpark.Research design, approach and method: The study employs a cross-sectional research design, which employed quantitative methods. One hundred fifty-two SME owners or managers were selected from Vanderbijlpark in Gauteng, South Africa. The collected data were analysed using a structural equation modelling system by using Smart PLS software.Main findings: The principal findings of this study revealed that the implementation of corporate governance by SMEs significantly and positively affected their competitiveness and performance.Practical and managerial implications: The paper provided practical implications and made some recommendations.Contribution or value-added: This article bridges the gap between theory and practice because it has both an economic and commercial impact in practice. It can be used in influencing public policy, teaching and research (because it contributes to the body of knowledge, particularly regarding SME corporate governance in emerging markets). An important aspect of this article is that it gives a framework for additional similar studies in other locations within emerging markets to test the generalisability of the findings. For teaching purposes, it provides a template for how to assess the link that exists between corporate governance and SME performance. Lastly, the article gives a unique empirical analysis of the relationship that exists between corporate governance compliance and performance of firms in South Africa, and thereby giving a valid contribution to corporate governance literature.

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“…The motivated agent model (Besley & Ghatak, 2005) has parallels in several strands of literature. First, the social entrepreneurship literature (Austin, Stevenson, & Wei-Skillern, 2006;Hearn, 2011;Meyskens et al, 2010;Murphy & Coombes, 2009) finds that a social mission can have a significant motivating effect on top management. Second, the general entrepreneurship literature suggests that this is also true among for-profit entrepreneurs (e.g., Adams, Almeida, & Ferreira, 2009;Anderson & Reeb, 2003).…”

Section: Theorymentioning

confidence: 99%

The Impact of Entrepreneur-CEOs in Microfinance Institutions: A Global Survey

Randøy

Strøm

Mersland

2013

Entrepreneurship Theory and Practice

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Microfinance is a global high-growth industry, in which entrepreneurship is prevalent and substantial. Based on the theoretical argument that microfinance entrepreneur-CEOs are "motivated agents" with a unique ability to hire and socialize mission-oriented staff, we hypothesize that these CEOs produce more sustainable microfinance institutions with better social performance and lower costs. This study utilizes data from 295 microfinance institutions in 73 developing countries, assessed between 1998 and 2010. Our empirical evidence suggests that entrepreneur-managed microfinance institutions feature higher social performance, greater financial sustainability, and lower costs.

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The impact of corporate governance measures on the performance of West African IPO firms

Cited by 37 publications

References 59 publications

Corporate governance and company performance across Sub-Saharan African countries

Corporate governance and company performance across Sub-Saharan African countries

The impact of corporate governance on firm competitiveness and performance of small and medium enterprises in South Africa: A case of small and medium enterprises in Vanderbijlpark

The Impact of Entrepreneur-CEOs in Microfinance Institutions: A Global Survey

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