Corporate Governance and Ownership Structure in Sub-Saharan Africa Countries

References

• Aggarwal, R., Erel, I., Ferreira, M., & Matos, P. (2011). Does governance travel around the world? Evidence from institutional investors. Journal of Financial Economics, 100(1), 154–181.
   Web of Science ®Google Scholar
• Aguilera, R. V., & Crespi-Cladera, R. (2016). Global corporate governance: On the relevance of firms’ ownership structure. Journal of World Business, 51(1), 50–57.
   Web of Science ®Google Scholar
• Balasubramanian, N., Black, B. S., & Khanna, V. (2010). The relation between firm-level corporate governance and market value: A case study of India. Emerging Markets Review, 11(4), 319–340.
   Web of Science ®Google Scholar
• Bebchuk, L. A., Cohen, A., & Ferrell, A. (2009). What matters in corporate governance? Review of Financial Studies, 22(2), 783–827.
   Web of Science ®Google Scholar
• Christensen, J., Kent, P., & Stewart, J. (2010). Corporate governance and company performance in Australia. Australian Accounting Review, 20(4), 372–386.
   Web of Science ®Google Scholar
• Claessens, S. (2006). Corporate governance and development. The World Bank Research Observer, 21(1), 91–122.
   Web of Science ®Google Scholar
• Claessens, S., Djankov, S., Joseph, P. H. F., & Larry, H. P. L. (2002). Disentangling the incentive and entrenchment effects of large shareholdings. The Journal of Finance, 57(6), 2741–2771.
   Web of Science ®Google Scholar
• Claessens, S., & Yurtoglu, B. B. (2013). Corporate governance in emerging markets: A survey. Emerging Markets Review, 15, 1–33.
   Web of Science ®Google Scholar
• Coles, J. L., Daniel, N. D., & Naveen, L. (2008). Boards: Does one size fit all? Journal of Financial Economics, 87(2), 329–356.
   Web of Science ®Google Scholar
• Cremers, K. J. M., & Nair, V. B. (2005). Governance mechanisms and equity prices. The Journal of Finance, 60(6), 2859–2894.
   Web of Science ®Google Scholar
• Gompers, P., Ishii, J., & Metrick, A. (2003). Corporate governance and equity prices. Quarterly Journal of Economics, 118(1), 107–155.
   Web of Science ®Google Scholar
• Guest, P. M. (2008). The determinants of board size and composition: Evidence from the UK. Journal of Corporate Finance, 14(1), 51–72.
   Web of Science ®Google Scholar
• Harford, J., Mansi, S. A., & Maxwell, W. F. (2008). Corporate governance and firm cash holdings in the US. Journal of Financial Economics, 87(3), 535–555.
   Web of Science ®Google Scholar
• Hermalin, B. E., & Weisbach, M. S. (1991). The effects of board composition and direct incentives on firm performance. Financial Management, 20(4), 101–112.
   Web of Science ®Google Scholar
• Hillier, D., & McColgan, P. (2006). An analysis of changes in board structure during corporate governance reforms. European Financial Management, 12(4), 575–607.
   Web of Science ®Google Scholar
• Huang, W., & Zhu, T. (2015). Foreign institutional investors and corporate governance in emerging markets: Evidence of a split-share structure reform in China. Journal of Corporate Finance, 32, 312–326.
   Web of Science ®Google Scholar
• Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review, 76(2), 323–329.
   Web of Science ®Google Scholar
• Jensen, M. C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831–880.
   Web of Science ®Google Scholar
• Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360.
   Web of Science ®Google Scholar
• Jensen, M. C., & Murphy, K. J. (1990). Performance pay and top-management incentives. Journal of Political Economy, 98(2), 225–264.
   Web of Science ®Google Scholar
• Kaufmann, D., Kraay, A., & Mastruzzi, M. (2010). The worldwide governance indicators: Methodology and analytical issues. Washington DC: World Bank.
   Google Scholar
• Klapper, L. F., & Love, I. (2004). Corporate governance, investor protection, and performance in emerging markets. Journal of Corporate Finance, 10(5), 703–728.
   Web of Science ®Google Scholar
• Lasfer, M. A. (2006). The interrelationship between managerial ownership and board structure. Journal of Business Finance & Accounting, 33(7–8), 1006–1033.
   Web of Science ®Google Scholar
• Li, J., & Qian, C. (2013). Principal-principal conflicts under weak institutions: A study of corporate takeovers in China. Strategic Management Journal, 34(4), 498–508.
   Web of Science ®Google Scholar
• Liew, P. K. (2007). Corporate governance reforms in Malaysia: The key leading players perspectives. Corporate Governance: An International Review, 15(5), 724–740.
   Web of Science ®Google Scholar
• Linck, J. S., Netter, J. M., & Yang, T. (2008). The determinants of board structure. Journal of Financial Economics, 87(2), 308–328.
   Web of Science ®Google Scholar
• Mak, Y. T., & Li, Y. (2001). Determinants of corporate ownership and board structure: Evidence from Singapore. Journal of Corporate Finance, 7(3), 235–256.
   Web of Science ®Google Scholar
• Martynova, M., & Renneboog, L. (2008). Spillover of corporate governance standards in cross-border mergers and acquisitions. Journal of Corporate Finance, 14(3), 200–223.
   Web of Science ®Google Scholar
• McKnight, P. J., & Weir, C. (2009). Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis. The Quarterly Review of Economics and Finance, 49(2), 139–158.
   Google Scholar
• Mishra, D. R. (2011). Multiple large shareholders and corporate risk taking: Evidence from East Asia. Corporate Governance: An International Review, 19(6), 507–528.
   Web of Science ®Google Scholar
• Morck, R., Shleifer, A., & Vishny, R. W. (1988). Management ownership and market valuation. Journal of Financial Economics, 20, 293–315.
   Web of Science ®Google Scholar
• Munisi, G. (2017). Determinants of capital structure: Evidence from Sub-Saharan Africa. International Journal of Managerial and Financial Accounting, 9(2), 182–199.
   Google Scholar
• Munisi, G., Hermes, N., & Randøy, T. (2014). Corporate boards and ownership structure: Evidence from Sub-Saharan Africa. International Business Review, 23(4), 785–796.
   Web of Science ®Google Scholar
• Munisi, G., & Mersland, R. (2016). Ownership, board compensation and company performance in Sub-Saharan African countries. Journal of Emerging Market Finance, 15(2), 191–224.
   Web of Science ®Google Scholar
• Munisi, G., & Randøy, T. (2013). Corporate governance and company performance across Sub-Saharan African countries. Journal of Economics and Business, 70, 92–110.
   Google Scholar
• Ozkan, N. (2007). Do corporate governance mechanisms influence CEO compensation? An empirical investigation of UK companies. Journal of Multinational Financial Management, 17(5), 349–364.
   Google Scholar
• Papke, L. E., & Wooldridge, J. M. (1996). Econometric methods for fractional response variables with an application to 401(K) plan participation rates. Journal of Applied Econometrics, 11, 619–632.
   Web of Science ®Google Scholar
• Park, Y. W., Selvili, Z., & Song, M. H. (2008). Large outside blockholders as monitors: Evidence from partial acquisitions. International Review of Economics & Finance, 17(4), 529–545.
   Web of Science ®Google Scholar
• Shleifer, A., & Vishny, R. W. (1986). Large shareholders and corporate control. Journal of Political Economy, 94(3), 461–488.
   Web of Science ®Google Scholar
• Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance, 52(2), 737–783.
   Web of Science ®Google Scholar
• Song, J., Wang, R., & Cavusgil, S. T. (2015). State ownership and market orientation in China’s public firms: An agency theory perspective. International Business Review, 24(4), 690–699.
   Web of Science ®Google Scholar
• Tam, O. K., & Tan, M. G.-S. (2007). Ownership, governance and firm performance in Malaysia. Corporate Governance: An International Review, 15(2), 208–222.
   Web of Science ®Google Scholar
• Williams, R. (2018). Analyzing proportions: Fractional response and zero one inflated beta models. University of Notre Dame. Retrieved from https://www3.nd.edu/~rwilliam https://www3.nd.edu/~rwilliam/stats3/FractionalResponseModelspdf
   Google Scholar