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Globalization and Corporate Governance Mechanism, Engine of Change

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  • Martha Coleman
  • Mengyun Wu
  • Justices Mark Baidoo

Abstract

This study is undertaking to investigate the effect of the various dimensions of globalization on corporate governance sub-indices of listed companies in Nigeria and Ghana. The study used a panel data of nonfinancial companies listed on Nigeria and Ghana stock exchange for the period 2012 – 2016 with total observation of 510. Using KOF Globalization Index which entails composite index measuring economic, social and political dimension of globalization. It was discovered that all the dimensions of globalization influence the corporate governance mechanisms. The impact of globalization on sectors of the economies clearly shows that West African countries have been greatly influenced by globalization for resource utilization and improvement in living standard. Although poverty still seems to be high, it is of no doubt that globalization has sharpened the economic efficiency and sustainable growth and financial stability base on continuous improvement on corporate governance mechanisms for the achievement of better economic stability.

Suggested Citation

  • Martha Coleman & Mengyun Wu & Justices Mark Baidoo, 2020. "Globalization and Corporate Governance Mechanism, Engine of Change," Business and Economic Research, Macrothink Institute, vol. 10(1), pages 210-234, March.
    • Handle: RePEc:mth:ber888:v:10:y:2020:i:1:p:210-234
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Corporate Governance; Economic globalization; Social globalization; Political globalization; West Africa;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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