Corporate governance, disclosure and foreign share ownership on the Ghana Stock Exchange

Bokpin, Godfred A.; Isshaq, Zangina

doi:10.1108/02686900910975387

Cited by 61 publications

(64 citation statements)

References 42 publications

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“…Due to the geographical barriers, foreign investors are likely to face a higher level of information asymmetry compared with their domestic counterparts (Oxelheim & Randoy, 2003). Accordingly, foreign investors tend to invest more in firms that disclose more information (Mangena & Tauringana, 2007;Bokpin & Isshaq, 2009). To reduce information asymmetry between foreign and domestic investors, firms are inclined to provide more information (Mangena & Tauringana, 2007).…”

Section: Foreign Ownershipmentioning

confidence: 99%

Board Composition, Firm Characteristics, and Voluntary Disclosure: The Case of Jordanian Firms Listed on the Amman Stock Exchange

Sartawi¹,

Hindawi²,

Bsoul³

et al. 2014

IBR

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This study examines the impact of board composition on the level of voluntary disclosure in the annual reports of listed Jordanian firms. Content analysis is used to collect the required data form the 2012-annual reports of 103 firms listed on the Amman Stock Exchange. Overall, the empirical evidence provided by the study is in line with the agency theory predictions. Furthermore, they have practical implications for firms and regulators in Jordan on the importance of the board of directors and voluntary disclosure as control mechanisms for mitigating the effect of the information asymmetries and agency problems. The study shows a moderate level of voluntary disclosure in the annual reports of Jordanian firms. However, insurance firms tend to disclose more voluntary information than industrial and services firms. Also, the results suggest that Jordanian firms with a high-level of board ownership concentration tend to keep the level of voluntary disclosure low. On the other hand, the presence of foreign directors on the board seems to influence, positively, the level of voluntary disclosure in Jordanian firms. Likewise, the proportion of the old directors on the boards in Jordanian firms is very high and is significantly associated with a higher level of voluntary disclosure.

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Section: Foreign Ownershipmentioning

confidence: 99%

Board Composition, Firm Characteristics, and Voluntary Disclosure: The Case of Jordanian Firms Listed on the Amman Stock Exchange

Sartawi¹,

Hindawi²,

Bsoul³

et al. 2014

IBR

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show abstract

“…A number of studies have been undertaken about the relationship between corporate governance and foreign ownership (Bokpin & Isshaq, 2009;Leuz at al. 2009;Hossain, 2007;Mangena & Tauringana, 2007;Tsamenyi et al, 2007;Chevalier et al, 2006).…”

Section: Literature Reviewmentioning

confidence: 99%

“…In Ghana, Bokpin & Isshaq (2009) investigated the impact of transparency and corporate governance on foreign share ownership for a sample of listed firms on the Ghana stock exchange (GSE). They found that when foreign investors make their investment decisions they consider corporate governance and disclosure practices employed in the listed firms.…”

Section: Literature Reviewmentioning

confidence: 99%

Corporate Governance and Non-Jordanian Share Ownership: the Case of Amman Stock Exchange

Suwaidan¹,

Abed²,

Al-Khoury³

2013

IJBM

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In many countries institutional investors have become dominant players in the financial markets. This paper aims to examine whether better corporate governance practices increase attractiveness of Jordanian shares for foreign investors. In order to achieve the above objective a sample of 183 company listed on the Amman Stock Exchange for the year 2010 is employed. The results reveal that institutional ownership, ownership concentration, total assets and audit size are related to non-Jordanian investor. This result builds on the importance of non-Jordan shareholders in enhancing corporate governance mechanism.

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“…In the context of a previous study on foreign ownership, Isshaq (2009) andBokpinet al (2015) studied the effect of transparency and corporate governance on foreign share ownership, and found that decisions of foreign investors are based on corporate governance and disclosure norms of listed firms. It has also been revealed that foreign investors steer clear of investment in companies that lack a corporate governance structure and which have ineffective disclosure practices since disclosure and transparency are important for foreign investors (Mangena&Tauringana, 2007;Al-arussi, Selamat&Hanefah, 2009).…”

Section: Asian Journal Of Finance and Accountingmentioning

confidence: 99%

The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council

Al-shamahi

Manaf

Alarussi

2017

AJFA

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This study empirically examines the impact of effectiveness of both corporate boards and audit committee on foreign ownership in selected non-financial listed companies of the stock markets in Gulf Cooperation Council (GCC) countries. Contrary to previous studies, this study enters the firm size, leverage, exchange rate risks, inflation risks and economic growth as control variables. For the first time, it also includes the political risks’ variable as a control variable that may affect foreign ownership. In term of panel data regression analysis, the study was built on fixed effect model and conducted to the period of 2012-2015 for 143 non-financial listed companies on the GCC stock markets. Our results explain that foreign ownership is positively related to the effectiveness of both the boards of directors and the audit committees. Political risks and firm size are positively significant with foreign ownership, while the leverage is negatively related to foreign ownership. The implication of this study may help beneficiaries in making better policy decisions and provide guidance for corporate managers on the needs of foreign investors.

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Corporate governance, disclosure and foreign share ownership on the Ghana Stock Exchange

Cited by 61 publications

References 42 publications

Board Composition, Firm Characteristics, and Voluntary Disclosure: The Case of Jordanian Firms Listed on the Amman Stock Exchange

Board Composition, Firm Characteristics, and Voluntary Disclosure: The Case of Jordanian Firms Listed on the Amman Stock Exchange

Corporate Governance and Non-Jordanian Share Ownership: the Case of Amman Stock Exchange

The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council

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