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The impact of economic reform on business performance: A study of foreign and domestic firms in Ghana

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  • Appiah-Adu, Kwaku
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    Abstract

    This paper reports the results of a cross-sectional study of firms operating in a liberalized developing economy. The purpose of the research was to determine effects of economic reform policies and consequent business strategies upon performance among foreign and domestic firms in Ghana. Data were obtained from 114 companies representing domestic firms and foreign organizations headquartered in North America, Europe and Asia. Regression analysis was used to test whether environmental change and its related business strategies influence performance. Study results indicate that, generally, changes in the business environment and firm strategies have had a relatively greater impact on foreign companies' performance compared with domestic organizations. The article concludes with a discussion on the managerial and policy making implications of the study as well as avenues for future research

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    File URL: http://www.sciencedirect.com/science/article/pii/S0969593199000177
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    Bibliographic Info

    Article provided by Elsevier in its journal International Business Review.

    Volume (Year): 8 (1999)
    Issue (Month): 4 (August)
    Pages: 463-486

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    Handle: RePEc:eee:iburev:v:8:y:1999:i:4:p:463-486

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    Related research

    Keywords: Ghana Developing economies Economic reform Structural adjustment policies Business strategy Performance Foreign and domestic firms;

    References

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    1. J Markham Collins, 1990. "A Market Performance Comparison of U.S. Firms Active in Domestic, Developed and Developing Countries," Journal of International Business Studies, Palgrave Macmillan, vol. 21(2), pages 271-287, June.
    2. Gulhati, Ravi, 1990. "Who makes economic policy in Africa and how?," World Development, Elsevier, vol. 18(8), pages 1147-1161, August.
    3. Franklin R Root & Ahmed A Ahmed, 1978. "The influence of policy instruments on manufacturing Direct Foreign investment in developing countries," Journal of International Business Studies, Palgrave Macmillan, vol. 9(3), pages 81-94, September.
    4. Muuka, Gerry N., 1997. "Wrong-footing MNCs and local manufacturing: Zambia's 1992-1994 structural adjustment program," International Business Review, Elsevier, vol. 6(6), pages 667-687, December.
    5. Liedholm, Carl & Mead, Donald C., 1987. "Small Scale Industries in Developing Countries: Empirical Evidence and Policy Implications," Food Security International Development Papers 54062, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    6. Sadri, Sorab & Williamson, Caroline, 1989. "Management and industrial relations strategies of multinational corporations in developing countries," Journal of Business Research, Elsevier, vol. 18(3), pages 179-193, May.
    7. Susan P Douglas & C Samuel Craig, 1983. "Examining Performance of U.S. Multinationals in Foreign Markets," Journal of International Business Studies, Palgrave Macmillan, vol. 14(3), pages 51-62, September.
    8. Steel, William F & Webster, Leila M, 1992. "How Small Enterprises in Ghana Have Responded to Adjustment," World Bank Economic Review, World Bank Group, vol. 6(3), pages 423-38, September.
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    Cited by:
    1. Alvaro CUERVO-CAZURRA & Luis Alfonso DAU, 2008. "Structural Reform And Firm Profitability In Developing Countries," William Davidson Institute Working Papers Series wp940, William Davidson Institute at the University of Michigan.
    2. Chittoor, Raveendra & Ray, Sougata & Aulakh, Preet S. & Sarkar, M.B., 2008. "Strategic responses to institutional changes: 'Indigenous growth' model of the Indian pharmaceutical industry," Journal of International Management, Elsevier, vol. 14(3), pages 252-269, September.
    3. Ravi Sarathy & Elitsa R. Banalieva, 2014. "Economic Development And Marketing Strategies: A Comparative Lens," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 5(1).

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