IDEAS home Printed from https://ideas.repec.org/a/taf/accfor/v50y2026i1p13-42.html

Ownership structure, corporate governance disclosure, and the moderating effect of CEO power: evidence from East Africa

Author

Listed:
  • Samuel Fulgence
  • Agyenim Boateng
  • Frank Kwabi

Abstract

This study examines the effect of ownership structure (classified as concentrated, institutional, and managerial ownership) on corporate governance (CG) disclosure. Using a sample of 96 East African firms, we document that, whereas concentrated ownership has a negative effect, institutional ownership has a positive and significant association with CG disclosure. However, we find the effect of managerial ownership on CG disclosure to be negative and insignificant. We also find CEO power to moderate the link between ownership structure and CG disclosure. Further analysis indicates that, whereas the effects of institutional and concentrated ownerships on CG disclosure remain unchanged irrespective of a firm’s debt levels, the effect of managerial ownership on CG disclosure is driven by external pressures associated with debt financing. Our findings provide evidence on how different ownership types have different preferences, thereby influencing corporate disclosure practices differently. Our results are robust to the two-stage system generalised method of moments (SGMM) and other alternative sensitivity tests.

Suggested Citation

  • Samuel Fulgence & Agyenim Boateng & Frank Kwabi, 2026. "Ownership structure, corporate governance disclosure, and the moderating effect of CEO power: evidence from East Africa," Accounting Forum, Taylor & Francis Journals, vol. 50(1), pages 13-42, January.
    • Handle: RePEc:taf:accfor:v:50:y:2026:i:1:p:13-42
    DOI: 10.1080/01559982.2024.2426108
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/01559982.2024.2426108
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/01559982.2024.2426108?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:accfor:v:50:y:2026:i:1:p:13-42. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/racc .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.