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Title
Corporate boards and ownership structure: Evidence from Sub-Saharan Africa |
Full text
http://dx.doi.org/10.1016/j.ibusrev.2013.12.001 |
Date
2014 |
Author(s)
Munisi, Gibson; Hermes, Niels; Randoy, Trond |
Abstract
This study examines the relationship between board structure and ownership structure for firms listed on the stock exchanges of twelve Sub-Saharan African countries, using data for the period 2006-2009. We find that ownership concentration, foreign ownership and managerial ownership are negatively<br/>associated with board size. We also find that government ownership is positively associated with the proportion of outside directors while ownership concentration is negatively associated with the proportion of outside directors. These results emphasize that board and ownership structure are both corporate governance mechanisms that are used as substitutes to one another in reducing agency<br/>problems. |
Subject(s)
Corporate governance; Ownership structure; Board structure; Sub-Saharan Africa |
Language
eng |
Type of publication
article |
Source
Munisi, G, Hermes, N & Randoy, T 2014, ' Corporate boards and ownership structure: Evidence from Sub-Saharan Africa ' International Business Review, vol 23, pp. 785-796. , 10.1016/j.ibusrev.2013.12.001 |
Repository
Groningen - University of Groningen
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Added to C-A: 2018-11-14;10:56:35 |
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