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首页> 外文期刊>International journal of business governance and ethics >How do we explain corporate board structure in sub-Saharan Africa?
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How do we explain corporate board structure in sub-Saharan Africa?

机译:我们如何解释撒哈拉以南非洲的公司董事会结构?

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This study examines the determinants of corporate board structure in selected sub-Saharan Africa. We specifically investigate which firm-level characteristics exhibit any link whatsoever with board size, board composition and board leadership structure in Ghana, Nigeria, Kenya and South Africa. We also ascertain whether alternative governance mechanisms such as institutional shareholders and debt holders serve as substitutes in addressing the agency conflicts in firms. The findings of the study indicate that institutional ownership is an alternative governance mechanism for board size for a majority of the countries under study. The findings of this study also indicate that firm size is the only variable that significantly and positively explains board size for all the four countries under study and the other firm-level characteristics, though significant in some cases in explaining the board structure, take on different signs from country to country and for different board characteristics.
机译:这项研究研究了撒哈拉以南非洲地区公司董事会结构的决定因素。我们专门调查在加纳,尼日利亚,肯尼亚和南非,哪些公司级别的特征与董事会规模,董事会组成和董事会领导结构有任何联系。我们还确定诸如机构股东和债务持有人之类的替代治理机制是否可以替代公司中的代理冲突。该研究结果表明,对于大多数接受研究的国家而言,机构所有权是董事会规模的替代治理机制。这项研究的结果还表明,公司规模是唯一能够显着并积极地说明所研究的所有四个国家的董事会规模以及其他公司层面特征的变量,尽管在某些情况下在解释董事会结构方面具有重要意义,但具有不同不同国家和不同董事会特征的标志。

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