Seth Gyedu
AM 0073 Ayensu Street | Cape Coast, Ghana | Accra, Central UC-147 GH
Email: sethebow@yahoo.com
Abstract
Corporate scandals in distinct countries have served as a basis for formulation of new legislation to regulate corporate governance practices. The quality of directives and regulations serve an important purpose of improving the corporate governance framework. That notwithstanding banks are faced with problems such as poor accountability, weak transparency and some irresponsibility on the part of management. In view of this, this paper assessed the influence of corporate governance on performance of listed banks in Ghana from 2008 to 2018 using monthly data. Panel data analysis, specifically one-way fixed effect model was used and the results revealed significant negative relationship between corporate governance and financial performance of listed banks in Ghana. The study recommended that management and stock market regulators must be proactive so as to minimize the probability of experiencing a financial distress.
Keywords: Return on Assets; Corporate Governance Index; Global Competitiveness Report