Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/6000
Title: Corporate governance, ownership structure, cash holdings, and firm value on the Ghana Stock Exchange
Authors: Isshaq, Zangina
Bokpin, Godfred A.
Onumah, Joseph Mensah
Keywords: Corporate governance
Corporate ownership
Share prices
Ghana
Issue Date: 2009
Publisher: University of Cape Coast
Abstract: Purpose – The purpose of this paper is to examine the interaction between corporate governance, ownership structure, cash holdings, and firm value on the Ghana Stock Exchange. Design/methodology/approach – A multiple regression approach using the seemingly unrelated regression to mitigate the problems of multicollinearity between the cash-holding variable and other control variables is adopted. Findings – Board size is found to be positively and statistically significantly related to share price among the corporate governance variables. However, a significant relationship between inside ownership and share price is not found. The results also indicate that additional units of cash holdings do not have a statistically significant influence on share price. Finally, leverage and income volatility are found to be significant determinants of share price. Originality/value – This is the first of its kind in the country that considers the impact of corporate governance, ownership structure, and firm value on the Ghana Stock Exchange (GSE).
Description: 12p
URI: http://hdl.handle.net/123456789/6000
Appears in Collections:Department of Accounting & Finance



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