Compliance with Shareholders’ Rights and Profitability of Medium Scale Enterprises in Ghana

Simon Peter Tsekpo
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Simon Peter Tsekpo: Kings University College, Accra, Ghana, West Africa

International Journal of Research and Innovation in Social Science, 2020, vol. 4, issue 9, 394-401

Abstract: This is an empirical investigation into the impact of compliance with shareholders’ rights on the profitability of medium scale enterprises (MSEs) in Ghana. It is an exploratory research based on descriptive survey design, and political theory of corporate governance. Questionnaire is the major research instrument used; and1010 Respondents participated in the study. It is a pure quantitative research and the data passed basic parametric tests of normality and outlier. The major findings of the research are: MSEs in Ghana largely comply with shareholders’ rights (up to 67% compliance rate is observed in this research); compliance to shareholders’ rights has circa 8% insignificant direct association with the profitability of Ghanaian medium scale enterprises; and compliance with shareholders’ rights has non-significant positive impact on the profitability of MSEs in Ghana after controlling managers’ qualifications. The major limitation of this study is that it lacks comparative empirical analysis; as such, the generalization of its findings is very much limited to Ghanaian MSEs only. Therefore, it would not be out of place for a similar study to be carried out in other countries (for example, the English-speaking countries of West Africa). It would also be necessary if profitability figures from audited annual reports of MSEs are incorporated in future study as this research did not incorporate them.

Date: 2020
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