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Ownership, Board Compensation and Company Performance in Sub-Saharan African Countries

Author

Listed:
  • Gibson Hosea Munisi
  • Roy Mersland

    (UIA - University of Agder)

Abstract

In countries with weak institutions board governance becomes more important. This study uses a unique dataset from listed Sub-Saharan African companies to examine the relationship between ownership composition and board compensation. It further analyses the association between board compensation and company performance. The findings indicate that board ownership and CEO ownership are positively associated while state ownership, and concentrated ownership are negatively associated with board compensation. There is no evidence of a significant association between chairperson ownership or foreign ownership and board compensation. Finally, there is a negative but not significantly relationship between board compensation and company performance.

Suggested Citation

  • Gibson Hosea Munisi & Roy Mersland, 2016. "Ownership, Board Compensation and Company Performance in Sub-Saharan African Countries," Post-Print hal-05221004, HAL.
    • Handle: RePEc:hal:journl:hal-05221004
    DOI: 10.1177/0972652716645893
    Note: View the original document on HAL open archive server: https://hal.science/hal-05221004v1
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    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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