Ownership structure, corporate governance and firm performance: Evidence from an African emerging market
AbstractPurpose – In spite of an abundance of corporate governance literature across the world, the Botswana corporate sector is lacking. The purpose of this study is to investigate the relationship among the ownership structure, board characteristics and financial performance to determine the role of corporate governance in the performance behavior of companies listed in such an emerging market in Africa as Botswana. Design/methodology/approach – Ordinary least square (OLS) models are applied to Botswana Stock Exchange listed firms over the period 2000-2007 to determine the role of corporate governance in the performance behavior of companies listed in an emerging market. Findings – The empirical evidence shows distinct nature of corporate governance behavior among alternative performance measures used, in particular, between accounting-based/hybrid and market-based measures. Practical implications – Such diversified findings provide the policy-makers with insights to take appropriate measures on corporate governance and stock market development in order to ensure their efficiency. Originality/value – The approach of this study is different from the other available literature as it captures all types of shareholdings together in addition to other corporate governance and firm-specific predictable variables.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Emerald Group Publishing in its journal Studies in Economics and Finance.
Volume (Year): 29 (2012)
Issue (Month): 4 (November)
Contact details of provider:
Web page: http://www.emeraldinsight.com
Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Louise Lister).
If references are entirely missing, you can add them using this form.