The effect of corporate governance on voluntary disclosures of information: Evidence from Ghana stock exchange
Title: The effect of corporate governance on voluntary disclosures of information: Evidence from Ghana stock exchange
Author: Shaibu Ali, Kong YuSheng , Albert Henry Ntarmah, Jean Baptiste Bernard Pea-Assounga, Ivan-Sarfo Ernest, Paul Nkrumah
Description: Today as a result of voluntary information disclosure, Ghanaian companies voluntarily provides vital information to its stakeholders and in accordance of corporate governance code of Security and Exchange commission of Ghana 2010.This study investigated the effect of Corporate Governance on information disclosures of listed companies in Ghana Stock Exchange. The sample comprised 10 banks in Ghana for the period 2007-2016. We employed econometric frameworks of random effect and conditional fixed effect panel logistic regression models to investigate the topic. Based on the Hausman test, conditional fixed effect panel logistic regression was chosen as the most appropriate for this study. Our empirical results revealed that banking experiences have significant positive impact on voluntary disclosure. Similarly, board size has significant positive impact on voluntary disclosure. Based on the findings, we conclude that board size and banking experience are the two corporate governance variables influence voluntary information disclosure. However, the impact is stronger for banking experience compared to board size. The study contributes to literature on Corporate Governance from developing country perspective. Some recommendations has been suggested and the research warrant more testing and experimental research into the future.