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

Gibson Munisi and Roy Mersland

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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.

Keywords: Boards of Directors Ownership Structure Board Compensation Corporate Governance Company Performance Sub-Saharan Africa Weak Institutions JEL classification G32 G34; Boards of Directors; Ownership Structure; Board Compensation; Corporate Governance; Company Performance; Sub-Saharan Africa; Weak Institutions JEL classification G32 G34 (search for similar items in EconPapers)
Date: 2016
Note: View the original document on HAL open archive server: https://hal.science/hal-05221004v1
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Published in Journal of Emerging Market Finance, 2016, 15, pp.191 - 224. ⟨10.1177/0972652716645893⟩

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Related works:
Journal Article: Ownership, Board Compensation and Company Performance in Sub-Saharan African Countries (2016)
Journal Article: Ownership, Board Compensation and Company Performance in Sub-Saharan African Countries (2016)
Working Paper: Ownership, board compensation and company performance in sub-Saharan African countries (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05221004

DOI: 10.1177/0972652716645893

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