Unearthing the Integral Determinants of Foreign Ownership Prevalence of Companies in Africa: Role of Country-level Governance

被引：14

作者：

Agyemang, Otuo Serebour ^{[1
]}

Fantini, Giulia ^{[2
]}

Ansong, Abraham ^{[1
]}

机构：

[1] Univ Cape Coast, Sch Business, Univ PO, Cape Coast, Ghana

[2] Swansea Univ, Sch Management, Swansea, W Glam, Wales

来源：

JOURNAL OF AFRICAN BUSINESS | 2016年 / 17卷 / 02期

关键词：

Corporate governance; Institutional structures; Country-level governance; Prevalence of foreign ownership; African countries;

D O I：

10.1080/15228916.2016.1145179

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study seeks to deepen our understanding on how country-level governance structures influence prevalence of foreign ownership of firms in Africa. This study reinforces the new institutional economics perspective by empirically highlighting that governance structures influence the prevalence of foreign ownership of companies in an economy. Using archival data from 39 African economies, we found that there is a significant positive association between regulatory quality and foreign ownership prevalence. Also, foreign ownership is prevalent in African countries that are politically stable and embrace rule of law. However, we found that countries with high voice and accountability structures are associated with low foreign ownership prevalence.

引用

页码：225 / 253

页数：29