THE RELATIONSHIP BETWEEN BOARD SIZE, BOARD COMPOSITION, CEO DUALITY AND FIRM PERFORMANCE: EXPERIENCE FROM GHANA

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Anthony Kyereboah-Coleman, Nicholas Biekpe

DOI:10.22495/cocv4i2p11

Abstract

The paper examined board characteristics and its impact on the performance of non-financial listed firms in Ghana. Data covering 11 year period (1990-2001) was used and analysis conducted within the panel data framework. The study shows that most Ghanaian firms adopt the two-tier board structure and are largely non-independent. The regression results, though relatively mixed, confirm other studies and show that there should be a clear separation of the two critical positions of CEO and board chairman in order to reduce agency cost for enhanced firm performance.

Keywords: Corporate Governance, Firm-Performance, Tobin’s Q, Ghana

How to cite this paper: Kyereboah-Coleman, A., & Biekpe, N. (2007). The relationship between board size, board composition, CEO duality and firm performance: Experience from Ghana. Corporate Ownership & Control, 4(2), 114-122. http://dx.doi.org/10.22495/cocv4i2p11