Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/289074 
Year of Publication: 
2022
Citation: 
[Journal:] Cogent Business & Management [ISSN:] 2331-1975 [Volume:] 9 [Issue:] 1 [Article No.:] 2101323 [Year:] 2022 [Pages:] 1-19
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
This study investigates the moderating role of ownership structure in the nexus between corporate governance and the financial performance of manufacturing firms in Ghana. The study uses GLS regression to analyze a panel dataset of 7 manufacturing firms over 14 years. We find a positive and significant effect of board size, audit committee independence, and size on firm performance. We, however, find a negative relationship between board remuneration and performance. We observe that block ownership moderates the relationship between board size, board independence, and the financial performance of manufacturing firms. Block shareholdings of the listed manufacturing firms in Ghana play a significant moderating role in the corporate governance-firm performance nexus. This study provides key insights into the influence of block shareholders on corporate governance activities and the eventual impact on the financial performance of manufacturing firms in Ghana, a phenomenon that has not been examined in the literature.
Subjects: 
performance
corporate governance
ownership structure
Ghana
manufacturing firms
JEL: 
G32
G34
G30
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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