The Impact of External Factors on Corporate Governance System of Firms

This book uses empirical evidence to identify views about the important components of good corporate governance practice for listed firms in Sub-Saharan African Anglophone countries. This study used survey questionnaire based on international corporate governance norms, data were collected from listed firms in Ghana, Nigeria and South Africa. The findings include: In Ghanaian and South African firms there are evidence that regulatory framework and enforcement of corporate governance promote sound corporate governance system. We revealed that commitment of board of directors to disclosure and communication may provide effective corporate practices. Political environment and ownership structure of firm's hinder sound corporate governance practices. Accounting system operating in each country plays a vital role in promoting sound corporate governance system. However, societal, cultural and corruption seem to deter corporate governance system in Ghanaian and South African firms. This book recommends that there should be prudent monitoring of corporate governance rules and enforcement.