The Factors Accounting for the Weak Commitment to Implement Good Corporate Governance Practices in Public Institutions in Upper East Region Ghana
Authors
- Samuel Ataribanam GradXs Researcher for PhD, LIUTEBM University – LIU22115, Lusaka, Zambia https://orcid.org/0000-0003-3236-379X
Keywords:
Corporate Governance, Factors, Public Sector, Upper East, Weak Commitment, GhanaAbstract
Good corporate governance in private and public institutions is essential for transparency and accountability. This study examined why the Ghanaian public sector lacks commitment to implement good corporate governance practices. Data was collected through questionnaires, interviews, and secondary sources. Purposive sampling was used with an exploratory research design. From a 5000 population 300 sample size was drawn for this study. Data was gathered through the use of Quantitative and Qualitative methods. Factor and Regression models in SPSS were used. The underpinning theory was the Agency theory. The research found that two main factors contributed to insufficient adherence to good corporate governance practices in the Ghanaian public sector. Thus, the role the institution plays and its legal and incorporation status affect corporate governance practises. These two issues contributed to Ghana's public sector's low commitment to good corporate governance with an overall model R2 of 24.3%. This means that whereas the two factors significantly influence corporate governance practices, some other elements might also contribute to the overall governance in public institutions. Hence, this study concludes that institutional roles and legal status are essential factors affecting corporate governance compliance within Ghana’s public sector. This research recommends that public institutions and organisations make the nature of corporate governance clear and unambiguous in line with their role and objectives so that corporate governance principles and practices do not vary. Corporate governance practices must follow the 2015 Public Services Commission corporate governance principles and recommendations. The first study of its kind to be conducted in Ghana would help improve strong corporate governance standards in public institutions.
Adu-Gyamfi, E. (2014). Effective revenue mobilization by districts assemblies: A case study of Upper Denkyira East Municipal Assembly of Ghana. Public Policy and Administration Review, 2(1), 97-122.
Adu-Gyamfi, M., He, Z., Nyame, G., Boahen, S., & Frempong, M. F. (2021). Effects of internal CSR activities on social performance: The employee perspective. Sustainability, 13(11), 6235. https://doi.org/10.3390/su13116235 DOI: https://doi.org/10.3390/su13116235
Agyemang, O. S., & Castellini, M. (2013). Corporate governance in an emergent economy: A case of Ghana. The IUP Journal of Corporate Governance, 12(3), 7-44.
Agyemang, O. S., Aboagye, E., & Ahali, A. Y. O. (2013). Prospects and challenges of corporate governance in Ghana. International Journal of Scientific and Research Publications, 3(5), 1-9.
Ahmed, E. R., Alabdullah, T. T. Y., Thottoli, M. M., & Maryanti, E. (2020). Does corporate governance predict firm profitability? An empirical study in Oman. The International Journal of Accounting and Business Society, 28(1), 161-177. https://doi.org/10.21776/ub.ijabs.2020.28.1.7 DOI: https://doi.org/10.21776/ub.ijabs.2020.28.1.7
Al Amosh, H., & Khatib, S. F. A. (2021). Corporate governance and voluntary disclosure of sustainability performance: The case of Jordan. SN Business & Economics, 1(12), 1-22. https://doi.org/10.1007/s43546-021-00167-1 DOI: https://doi.org/10.1007/s43546-021-00167-1
Alchian, A. A., & Demsetz, H. (1972). Production, information costs, and economic organization. American Economic Review, 62, 777-795.
Ali, M., Gan, C., & Nadeem, M. (2023). A CEO's expertise power and bank diversification. Accounting & Finance, 00, 1-25.
Ali, R., Qader Vazifeh, D., & Moosa Zamanzadeh, D. (2011). Corporate governance and culture in Iran. Interdisciplinary Journal of Contemporary Research in Business, 3(6), 858.
Alodat, A. Y., Salleh, Z., Hashim, H. A., & Sulong, F. (2022). Corporate governance and firm performance: Empirical evidence from Jordan. Journal of Financial Reporting and Accounting, 20(5), 866-896. https://doi.org/10.1108/JFRA-12-2020-0361 DOI: https://doi.org/10.1108/JFRA-12-2020-0361
Amoako, K. O., Marfo, E. O., Akwaa-Sekyi, N., Amaning, E. K., & Yankey, N. (2023). Stakeholder perceptions of sustainability reporting on the websites of technical universities in Ghana. Benchmarking: An International Journal. https://doi.org/10.1108/BIJ-02-2022-0104 DOI: https://doi.org/10.1108/BIJ-02-2022-0104
Arslan, M., Abidin, S., Alqatan, D. A., & Roudaki, J. (2019). Corporate governance in extreme institutional environment: Evidence from emerging economy. Corporate Ownership & Control, 17(1). https://doi.org/10.22495/cocv17i1siart5 DOI: https://doi.org/10.22495/cocv17i1siart5
Ashour, S. A., & Hoda, S. A. (2019). A conceptual analysis of macro corruption: Dimensions and forward and backward linkages. Journal of Public Administration and Governance, 9(2), 277-299. https://doi.org/10.5296/jpag.v9i2.14983 DOI: https://doi.org/10.5296/jpag.v9i2.14983
Auditor-General Report. (2004). Public accounts of Ghana. Ministry of finance and other agencies of central Government, Ghana.
Auditor-General Report. (2006). Public accounts of Ghana. Ministry of finance and other agencies of central Government, Boards and corporations.
Auditor-General Report. (2018). Performance audit reports, public accounts of Ghana; Ministry of finance and other agencies of central Government, Ghana.
Auditor-General Report. (2019). Performance audit reports, public accounts of Ghana; Ministry of finance and other agencies of central Government, Ghana.
Auditor-General Report. (2020). Public accounts of Ghana; Ministry of finance and other agencies of central Government, Boards and corporations.
Avortri, C., & Agbanyo, R. (2020). Determinants of management fraud in the banking sector of Ghana: The perspective of the diamond fraud theory. Journal of Financial Crime, 28, 142-155. https://doi.org/10.1108/JFC-06-2020-0102 DOI: https://doi.org/10.1108/JFC-06-2020-0102
Ayee, J. A. (2016). Reflections on some dynamics of development: Good governance and the sustainable development goals. Ghana Social Science, 13(2), 1.
Barnhart, S., Marr, M., & Rosenstein, S. (2004). Organization performance and board composition: Some new evidence. Managerial and Decision Economics, 15(4), 329-340. https://doi.org/10.1002/mde.4090150407 DOI: https://doi.org/10.1002/mde.4090150407
Baydoun, N., Maguire, W., Ryanand, N., & Willett, R. (2013). Corporate governance in five Arabian Gulf countries. Managerial Auditing Journal, 28(1), 7-22. https://doi.org/10.1108/02686901311282470 DOI: https://doi.org/10.1108/02686901311282470
Baysinger, B. D., & Hoskisson, R. E. (2012). The composition of boards of directors and strategic control. Academy of Management Review, 15(1), 72-87. https://doi.org/10.5465/amr.1990.4308231 DOI: https://doi.org/10.5465/amr.1990.4308231
Baysinger, B., & Butler, H. N. (2005). Corporate governance and board of directors: Performance effects of changes in board composition. Journal of Law Economics and Organization, 1(1), 101-124.
Berglöf, E., & Claessens, S. (2004). Enforcement and corporate governance (Vol. 3409). World Bank Publications. https://doi.org/10.1596/1813-9450-3409 DOI: https://doi.org/10.1596/1813-9450-3409
Berle, A. A., & Means, G. C. (1932). For whom corporate managers are trustees: A note. Harvard Law Review, 45(8), 1365-1372. https://doi.org/10.2307/1331920 DOI: https://doi.org/10.2307/1331920
Beshi, T. D., & Kaur, R. (2020). Public trust in local government: Explaining the role of good governance practices. Public Organization Review, 20(2), 337-350. https://doi.org/10.1007/s11115-019-00444-6 DOI: https://doi.org/10.1007/s11115-019-00444-6
Bhagat, S., & Black, B. (1998). Board independence and long-term performance. University of Colorado.
Bhagat, S., & Bolton, B. J. (2019). Corporate governance and firm performance: The sequel. Journal of Corporate Finance, 58, 142-168. DOI: https://doi.org/10.1016/j.jcorpfin.2019.04.006
https://doi.org/10.1016/j.jcorpfin.2019.04.006
Brillantes, A. B., & Fernandez, M. T. (2011). Restoring trust and building integrity in government: Issues and concerns in the Philippines and areas for reform. International Public Management Review, 12(2), 55-80.
Cadbury, A. (2010). The Committee on the Financial Aspects of Corporate Governance. (pp. 251-253). London: Gee and Organization.
Cadbury, C. (2002). Report of the Committee on Financial Aspects of Corporate Governance (pp. 15). London: Gee Publishing.
Cheung, Y. L., Connelly, J. T., Jiang, P., & Limpaphayom, P. (2011). Does corporate governance predict future performance? Evidence from Hong Kong. Financial Management, 40(1), 159-197. https://doi.org/10.1111/j.1755-053X.2010.01138.x DOI: https://doi.org/10.1111/j.1755-053X.2010.01138.x
Chhillar, P., & Lellapalli, R. V. (2015). Divergence or convergence: Paradoxes in corporate governance? Corporate Governance, 15(5), 693-705. DOI: https://doi.org/10.1108/CG-05-2015-0066
https://doi.org/10.1108/CG-05-2015-0066
Chigudu, D. (2020). Public sector corporate governance: Zimbabwe's challenges of strategic management in the wake of sustainable development. Academy of Strategic Management Journal, 19(1), 1-13.
Chimbari, P. (2017). Public sector corporate governance in Zimbabwe: The nexus between the ZIMCODE and state-owned enterprises. International Journal of Economics, Commerce and Management, 5(7), 212-221.
Clarke, T. (2016). International corporate governance: A comparative approach. Routledge. https://doi.org/10.4324/9781315749990 DOI: https://doi.org/10.4324/9781315749990
Constitution. (1992). Ghana's 1992 Constitution. Assessed 02/05/2022 from https://osp.gov.gh.
Corporate Governance Board Leadership Training Resources Kit (CGBLTRK). (2008). Global Corporate Governance Forum (GCGF) and International Finance Corporation (IFC). p. 16. Assessed 15/06/2023 from https://www.ifc.org.
Corporate Governance Manual (CGM). (2015). Corporate Governance Manual for Governing Boards/Councils of the Ghana Public Services. Assessed 25/10/2022 from https://psc.gov.gh.
Dahawy, K. (2007). Developing nations and corporate governance: The story of Egypt. Unpublished working paper, American University in Cairo, Egypt.
Daily, C. M., & Dalton, D. R. (2004). Bankruptcy and corporate governance: The impact of board composition and structure. Academy of Management Journal, 37(6), 1603-1617. https://doi.org/10.2307/256801 DOI: https://doi.org/10.2307/256801
De la Fuente, G., & Velasco, P. (2020). Capital structure and corporate diversification: Is debt a panacea for the diversification discount? Journal of Banking and Finance, 111, 105728. https://doi.org/10.1016/j.jbankfin.2019.105728 DOI: https://doi.org/10.1016/j.jbankfin.2019.105728
Deegan, C. (2004). Financial accounting theory. McGraw-Hill Australia Pty Ltd.
Deflem, M. (1995). Corruption, law and justice: A conceptual clarification. Journal of Criminal Justice, 23(3), 243-258. DOI: https://doi.org/10.1016/0047-2352(95)00018-L
https://doi.org/10.1016/0047-2352(95)00018-L
Denhardt, R. B., & Denhardt, J. V. (2011). The new public service: Serving rather than steering. Public Administration Review, 60(6), 549-559. DOI: https://doi.org/10.1111/0033-3352.00117
https://doi.org/10.1111/0033-3352.00117
Dienes, D., & Velte, P. (2016). The impact of supervisory board composition on CSR reporting: Evidence from the German two-tier system. Sustainability, 8(1), 63. https://doi.org/10.3390/su8010063 DOI: https://doi.org/10.3390/su8010063
Dunbar, C. G., Li, Z. F., & Shi, Y. (2020). Corporate social responsibility and CEO risk-taking incentives. Journal of Corporate Finance, 64, 101714. DOI: https://doi.org/10.1016/j.jcorpfin.2020.101714
https://doi.org/10.1016/j.jcorpfin.2020.101714
Dunleavy, P., & Hood, C. (1994). From old public administration to new public management. Public Money & Management, 14(3), 9-16. DOI: https://doi.org/10.1080/09540969409387823
https://doi.org/10.1080/09540969409387823
Faccio, M. (2016). Discussion of 'Corporate political connections and tax aggressiveness'. Contemporary Accounting Research, 33(1), 115-120. DOI: https://doi.org/10.1111/1911-3846.12214
https://doi.org/10.1111/1911-3846.12214
Fama, E., & Jensen, M. (2003). Separation of ownership and control. Journal of Law and Economics, 26, 301-326. https://doi.org/10.1086/467037 DOI: https://doi.org/10.1086/467037
Fang, H., Lee, J. S., Chung, Y. H., & Wang, W. H. (2020). Effect of CEO power and board strength on bank performance in China. Journal of Asian Economics, 69, 101215. https://doi.org/10.1016/j.asieco.2020.101215 DOI: https://doi.org/10.1016/j.asieco.2020.101215
Farag, H., & Dickinson, D. (2020). The power of connections: Evidence from financial companies. Journal of Corporate Finance, 64, 101643. DOI: https://doi.org/10.1016/j.jcorpfin.2020.101643
https://doi.org/10.1016/j.jcorpfin.2020.101643
Farazmand, A. (2012). The future of public administration: Challenges and opportunities-a critical perspective. Administration & Society, 44(4), 487-517. https://doi.org/10.1177/0095399712452658 DOI: https://doi.org/10.1177/0095399712452658
Fernandes, C., Farinha, J., Martins, F. V., & Mateus, C. (2021). The impact of board characteristics and CEO power on banks' risk-taking: Stable versus crisis periods. Journal of Banking Regulation, 22(4), 319-341. https://doi.org/10.1057/s41261-021-00146-4 DOI: https://doi.org/10.1057/s41261-021-00146-4
Financial Times. (2009). Report on financial matters in Ghana. Accessed on 22/02/2022 from https://www.ft.com.
Gales, L., & Kesner, I. (2004). An analysis of board of director size and composition in bankrupt organizations. Journal of Business Research, 30(3), 271-282. https://doi.org/10.1016/0148-2963(94)90057-4 DOI: https://doi.org/10.1016/0148-2963(94)90057-4
Gelter, M., & Puaschunder, J. M. (2021). COVID-19 and comparative corporate governance. Journal of Corporate Law, 46, 557. DOI: https://doi.org/10.2139/ssrn.3772965
https://doi.org/10.2139/ssrn.3772965
Ghana Integrity Initiative Report. (2011). Public accounts of Ghana; Ministry of finance and other agencies of central Government, Boards and corporations, Ghana.
Ghana Integrity Initiative Report. (2017). Public accounts of Ghana; Ministry of finance and other agencies of central Government, Boards and corporations, Ghana.
González, M., Guzmán, D. F., & Tellez-Falla, M. A. (2019). Governance, sentiment analysis, and initial public offering underpricing. Corporate Governance: An International Review, 27(3), 226-244. https://doi.org/10.1111/corg.12272 DOI: https://doi.org/10.1111/corg.12272
Guo, L., & Platikanov, S. (2019). Institutional ownership and corporate governance of public companies in China. Pacific-Basin Finance Journal, 57, 101180. https://doi.org/10.1016/j.pacfin.2019.101180 DOI: https://doi.org/10.1016/j.pacfin.2019.101180
Harvard Law Review. (2008). Editorial. Beyond 'Independent' Directors; A functional approach to board independence. Harvard Law Review, 185-204.
Hazaea, S. A., Tabash, M. I., Zhu, J., Khatib, S. F. A., & Farhan, N. H. S. (2021). Internal audit and financial performance of Yemeni commercial banks: Empirical evidence. Banks and Bank Systems, 16(2), 137-147. https://doi.org/10.21511/bbs.16(2).2021.13 DOI: https://doi.org/10.21511/bbs.16(2).2021.13
Hulme, D., & Sanderant, N. (2008). The toothless and the muzzled: Public accountability, public expenditure management and governance in Sri Lanka. University of Manchester.
Huysamen, G. K. (1994). Methodology for the social and behavioural sciences. Southern Book Publishers.
IMF. (2002). Global standards of market civilization. International Monetary Fund.
Institute of Internal Auditors. (2012). Supplemental guidance: The role of auditing in public sector governance (2nd ed). Global.
Ioppolo, G., Cucurachi, S., Salomone, R., Saija, G., & Shi, L. (2016). Sustainable local development and environmental governance: A strategic planning experience. Sustainability, 8, 180. DOI: https://doi.org/10.3390/su8020180
https://doi.org/10.3390/su8020180
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3, 305-360. https://doi.org/10.1016/0304-405X(76)90026-X DOI: https://doi.org/10.1016/0304-405X(76)90026-X
Jung, J. C., & Sharon, E. (2019). The Volkswagen emissions scandal and its aftermath. Global Business and Organizational Excellence, 38(4), 6-15. https://doi.org/10.1002/joe.21930 DOI: https://doi.org/10.1002/joe.21930
Jung, Y.-d., & Sea, Y. S. (2012). The public's declining trust in government in Korea. Meiji Journal of Political Science and Economics, 1, 36-48.
Katsriku, B. (2012). Key principles of public sector reforms: Case studies and frameworks. Accessed on 03/03/202 from https://production-new-commonwealth-files.s3.amazonaws.com.
Kaufmann, D., Kraay, A., & Mastruzzi, M. (2009). Governance matters VIII: Aggregate and individual governance indicators, 1996-2008. World Bank Policy Research Working Paper No. 4978. Washington, USA: The World Bank. https://doi.org/10.1596/1813-9450-4978 DOI: https://doi.org/10.1596/1813-9450-4978
Kaur, G., & Mishra, R. (2010). Corporate governance failure in India: A study of academicians' perception. The IUP Journal of Corporate Governance, 9, 99.
Kiel, G., & Nicholson, G. (2003). Board composition and corporate performance: How the Australian experience informs contrasting theories of corporate governance. Corporate Governance: An International Review, 11(3), 189-205. https://doi.org/10.1111/1467-8683.00318 DOI: https://doi.org/10.1111/1467-8683.00318
Kimani, D., Ullah, S., Kodwani, D., & Akhtar, P. (2021). Analysing corporate governance and accountability practices from an African neo-patrimonialism perspective: Insights from Kenya. Critical Perspectives On Accounting, 78, 102260. https://doi.org/10.1016/j.cpa.2020.102260. DOI: https://doi.org/10.1016/j.cpa.2020.102260
Lambsdorff, J. G. (2003). How corruption affects productivity. Kyklos, 56, 457-474. https://doi.org/10.1046/j.0023-5962.2003.00233.x DOI: https://doi.org/10.1046/j.0023-5962.2003.00233.x
Leblanc, R. (2020). The handbook of board governance: A comprehensive guide for public, private, and not-for-profit board members (2nd ed.). Wiley.
Leedy, P. D., & Ormrod, J. E. (2013). Practical research: Planning and design (10th ed.). Boston: Pearson.
Lorsch, J. W., & MacIver, E. (2009). Pawns or potentates: The reality of America's corporate board rooms. Harvard Business School Press, Boston, Massachusetts.
Matebese, H. (2024). The spiralling of corporate corruption and the plummeting of corporate governance and ethical leadership in African institutions. African Journal of Political Science, 12(1), 136-154. https://doi.org/10.36615/rwk1wh94 DOI: https://doi.org/10.36615/rwk1wh94
Mathuva, D. M., & Nyangu, M. N. (2021). Revisiting earnings quality and bank efficiency among East African developing economies: Do systematic banking and financial crises matter? Journal of Applied Accounting Research. https://doi.org/10.1108/JAAR-10-2020-0219. DOI: https://doi.org/10.1108/JAAR-10-2020-0219
Mbir, D. E. G., Agyemang, O. S., Tackie, G., & Abeka, M. J. (2020). IFRS compliance, corporate governance and financial reporting quality of GSE-listed non-financial firms. Cogent Business & Management, 7(1). https://doi.org/10.1080/23311975.2020.1759856 DOI: https://doi.org/10.1080/23311975.2020.1759856
McCarthy, D. J., & Puffer, S. M. (2003). Corporate governance in Russia: A framework for analysis. Journal of World Business, 38(4), 397-415. https://doi.org/10.1016/j.jwb.2003.08.024 DOI: https://doi.org/10.1016/j.jwb.2003.08.024
McCourt, W. (2013). Models of public service reform: A problem-solving approach. Policy Research Working Paper No. 6428. Washington D.C: The World Bank. http://www-wds.worldbank.org,https://doi.org/10.1596/1813-9450-6428 DOI: https://doi.org/10.1596/1813-9450-6428
Mishra, R., & Kapil, S. (2018). Board characteristics and firm value for Indian companies. Journal of Indian Business Research, 10(1), 2-32. https://doi.org/10.1108/JIBR-07-2016-0074. DOI: https://doi.org/10.1108/JIBR-07-2016-0074
Moore, S. (2017). Towards a sociology of institutional transparency: Openness, deception and the problem of public trust. Sociology, 52(2), 416-430. https://doi.org/10.1177/0038038516686530 DOI: https://doi.org/10.1177/0038038516686530
Munteanu, I., Grigorescu, A., Condrea, E., & Pelinescu, E. (2020). Convergent insights for sustainable development and ethical cohesion: An empirical study on corporate governance in Romanian public entities. Sustainability, 12(7), 2990. https://doi.org/10.3390/su12072990 DOI: https://doi.org/10.3390/su12072990
Napitupulu, I. H., Situngkir, A., Basuki, F. H., & Nugroho, W. (2023). Optimizing good corporate governance mechanism to improve performance: Case in Indonesia's manufacturing companies. Global Business Review, 24(6), 1205-1226. https://doi.org/10.1177/0972150920919875 DOI: https://doi.org/10.1177/0972150920919875
OECD. (2004). Revised OECD principles of corporate governance. Accessed 09/05/2022 from http://www.oecd.org/dataoecd/32/18/31557724.pdf.
Okpara, J. O. (2011). Corporate governance in a developing economy: Barriers, issues, and implications for firms. Corporate Governance, 11(2), 184-199. https://doi.org/10.1108/14720701111121056 DOI: https://doi.org/10.1108/14720701111121056
Omane-Antwi, B. K. (2012). Auditing theory and practice (The auditing compendium). Digibooks Ghana, Tema.
Ongore, V. O., & K'Obonyo, P. O. (2011). Effects of selected corporate governance characteristics on organization performance: Empirical evidence from Kenya. International Journal of Economics and Financial Issues, 1(3), 99-122.
Osborne, S. P. (2006). The new public governance? Public Management Review, 8(3), 377-388. https://doi.org/10.1080/14719030600853022 DOI: https://doi.org/10.1080/14719030600853022
Panchasara, B. M. (2012). An empirical study on corporate governance in Indian banking sector (Doctoral dissertation, Saurashtra University).
Patton, M. J. (1989). Problems with and alternatives to the use of coding schemes in research on counseling. The Counseling Psychologist, 17(3), 490-506. https://doi.org/10.1177/0011000089173008 DOI: https://doi.org/10.1177/0011000089173008
Pearce, J. H., & Zahra, S. A. (2002). Board composition from a strategic contingency perspective. Journal of Management Studies, 29(4), 411-438. https://doi.org/10.1111/j.1467-6486.1992.tb00672.x DOI: https://doi.org/10.1111/j.1467-6486.1992.tb00672.x
Public Financial Management Reforms. (2004). Report of Ghana's finances. Accessed 20/06/2022. https://lawsghana.com.
Rafiee, V. B., & Sarabdeen, J. (2012). Cultural influence in the practice of corporate governance in emerging markets. Communications of IBIMA, 1, 1-10. https://doi.org/10.5171/2012.444553 DOI: https://doi.org/10.5171/2012.444553
Rossouw, G. J. (2005). Business ethics and corporate governance in Africa. Business Society, 44, 94-106. https://doi.org/10.1177/0007650305274851 DOI: https://doi.org/10.1177/0007650305274851
Ruparelia, R., & Njuguna, A. (2016). The evolution of corporate governance and consequent domestication in Kenya. International Journal of Business and Social Science, 7(5).
Sebake, B. K., & Mudau, J. (2020). Revisiting whistleblowing amid COVID-19 pandemic in South Africa: An ad nauseam problem. Journal of Public Administration, 55, 489-501.
Securities Industry Law. (1993). Securities Industry Law, 1993, PNDC law 333. https://new-ndpc-static1.s3.amazonaws.com/. Accessed 30/03/2022.
Shleifer, A., & Vishny, R. W. (1986). Large shareholders and corporate control. Journal of Political Economy, 461-488. DOI: https://doi.org/10.1086/261385
https://doi.org/10.1086/261385
Sivaprasad, S., & Mathew, S. (2021). Corporate governance practices and the pandemic crisis: UK evidence. Corporate Governance: The International Journal of Business in Society, 21(6), 983-995. https://doi.org/10.1108/CG-08-2020-0357 DOI: https://doi.org/10.1108/CG-08-2020-0357
Ssonko, D. K. W. (2010). Ethics, accountability, transparency, integrity, and don'ts. Pandora Publication, GA.
Tabachnick, B. G., & Fidell, L. S. (2007). Using multivariate statistics (4th ed.). New York: Harper Collins.
Transparency International. (2009). Corruption perceptions index (2009). Transparency International. http://www.transparency.org/research/cpi/cpi_2009.
Transparency International. (2018). Corruption perceptions index 2018. Transparency International. http://www.transparency.org/research/cpi/cpi_2018. Accessed on 02/12/2022.
UNDESA. (2001). Public service ethics in Africa. Vol. 1. New York.
Wanyama, S., Burton, B., & Helliar, C. (2009). Frameworks underpinning corporate governance: Evidence on Ugandan perceptions. Corporate Governance: An International Review, 17(2), 159-175. https://doi.org/10.1111/j.1467-8683.2009.00730.x DOI: https://doi.org/10.1111/j.1467-8683.2009.00730.x
World Bank. (2013). Overview of governance and public sector reform. World Bank. Available at http://go.worldbank.org/IEQXV96ZQ0. Accessed on 05/09/2023.
Yung, K., & Nguyen, T. (2020). Managerial ability, product market competition, and firm behavior. International Review of Economics and Finance, 70, 102-116. https://doi.org/10.1016/j.iref.2022.06.027 DOI: https://doi.org/10.1016/j.iref.2020.06.027
Zacharias, N. A., Six, B., Schiereck, D., & Stock, R. M. (2015). CEO influences on firms' strategic actions: A comparison of CEO-, firm-, and industry-level effects. Journal of Business Research, 68(11), 2338-2346. https://doi.org/10.1016/j.jbusres.2013.03.045 DOI: https://doi.org/10.1016/j.jbusres.2015.03.045
Zaman, R., Atawnah, N., Nadeem, M., Bahadar, S., & Shakri, I. H. (2022). Do liquid assets lure managers? Evidence from corporate misconduct. Journal of Business Finance and Accounting, 49(7-8), 1425-1453. https://doi.org/10.1111/jbfa.12591 DOI: https://doi.org/10.1111/jbfa.12591
Zulfikar, R. N., Lukviarman, D., Suhardjanto, I., Ismail, T., Astuti, K. D., & Meutia, M. (2020). Corporate governance compliance in the banking industry: The role of the board. Journal of Open Innovation: Technology, Market, and Complexity, 6(4), 137. https://doi.org/10.3390/joitmc6040137 DOI: https://doi.org/10.3390/joitmc6040137
Published
How to Cite
Issue
Section
Copyright (c) 2024 Samuel Ataribanam
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.