Corporate governance and maximisation of the shareholder value: theoretical evidence from CFA zone in Africa

Benjamin Ouedraogo Nosseyamba

African Journal of Accounting, Auditing and Finance, 2012, vol. 1, issue 2, 209-222

Abstract: This research looks at the theoretical impact of corporate governance on shareholder value maximisation in some countries of the CFA zone in Africa. Data from Burkina Faso, Cameroon, Côte d'Ivoire and Gabon covering the period 2005 to 2009 were used and theoretical analysis done. Theoretical results show that, though highly dispersed, both within and between enterprises, corporate boards in the selected countries are relatively not independent. Our paper also shows that both sector and country-specific effects have an impact on shareholder value maximisation. While the mining sector is dominant in maximising shareholder value, it also suffers from higher taxes and interest payments.

Keywords: corporate governance; shareholder value; value maximisation; corporate performance; CFA zone; Africa; Burkina Faso; Cameroon; Ivory Coast; Gabon; mining industry. (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=48071 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ajaafi:v:1:y:2012:i:2:p:209-222

Access Statistics for this article

More articles in African Journal of Accounting, Auditing and Finance from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().