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Publication date: 13 November 2017

Otuo Serebour Agyemang, Millicent Kyeraa, Abraham Ansong and Siaw Frimpong

This paper aims to examine the role of country-level institutional structures in strengthening the level of investor confidence in Africa while controlling for real GDP growth…

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Abstract

Purpose

This paper aims to examine the role of country-level institutional structures in strengthening the level of investor confidence in Africa while controlling for real GDP growth, interest rate spread, inflation and country credit rating.

Design/methodology/approach

The paper uses panel data for the period 2009-2013. It takes into account the rule of law, political stability, regulatory quality, voice and accountability, control of corruption and property rights as potential institutional drivers of the level of investor confidence. These factors are based on their relative relevance from the extant literature. Correlated panels-corrected standard errors model was used to establish the relationship between the institutional structures and the strength of investor confidence.

Findings

The overall results show that rule of law, voice and accountability, property rights and political stability exhibit significant positive relationship with the strength of investor confidence in African economies. This implies that asking African economies to strengthen these institutional structures will result in enhanced investor confidence in their economies. This suggests that the establishment of these institutional structures is an effective tool to enhance investor confidence in African economies.

Practical implications

In addition to the long-term goal of promoting economic reforms, a corresponding long-term goal of strengthening institutional structures in African economies should be taken into consideration. Instead of waiting for their economic reforms to take effect, governments in African countries can, to some degree, attract investors into their economies by establishing credible institutional structures.

Originality/value

This paper contributes to the knowledge on how country-level institutional structures influence the level of investor confidence in the context of Africa.

Details

International Journal of Law and Management, vol. 59 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

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Article
Publication date: 1 August 2016

Otuo Serebour Agyemang, Abraham Ansong and Millicent Kyeraa

This paper aims to examine the perception of individual Ghanaian shareholders on corporate social responsibility (CSR).

902

Abstract

Purpose

This paper aims to examine the perception of individual Ghanaian shareholders on corporate social responsibility (CSR).

Design/methodology/approach

In consequence of the largely unexplored nature of the issue of CSR, the authors use a qualitative analysis to offer the painstaking understanding needed about this issue. Individual Ghanaian shareholders who have absolute control over what companies they desire to invest were selected as the participants.

Findings

The findings show that individual shareholders believe there is the need for corporate directors and managers to take into consideration the interests of all corporate stakeholders-workers, customers, shareholders, suppliers, the local community and the environment- in fashioning out their CSR policies. It also shows the relevance individual shareholders attach to each of those CSRs within each corporate stakeholder group. For instance, the individual shareholders think that it is most relevant for firms to put implementable measures in place to reduce or minimise harm to the environment. Also, with respect to workers, firms are the first and foremost to ensure a hale and hearty and secured work environment. Further, with respect to customers, firms have to offer standard or quality products and services to them. More so, in regards to suppliers, corporate directors and managers have to offer them reasonable prices for their products. Finally, on the part of the local community, firms have to effectively assist them.

Practical implications

The practical approach to problems and affairs of individual Ghanaian shareholders is indicated by how much importance they attach to each corporate responsibility matter, and also they appreciate that a firm cannot thrive or survive for long if it refuses or totally abandons the needs of other corporate stakeholder categories. It will thus be of relevance to firms to take executable steps to deal with the needs of other corporate stakeholder groups brought up by the individual shareholders. As a matter of fact, the vivid descriptions of each of the matters concerning CSR of the individual shareholders present an important policy guideline for corporate directors and corporate managers to establish good-natured relationship between their firms and other corporate stakeholder groups.

Originality/value

This paper contributes to the knowledge on CSR by establishing that even though individual shareholders are interested in personal economic benefits, they want their firms to be socially responsible to meet the interests of other corporate stakeholder groups.

Details

Social Responsibility Journal, vol. 12 no. 3
Type: Research Article
ISSN: 1747-1117

Keywords

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