The Impact of Good Corporate Governance Practices on Stakeholder’s Satisfaction in Ghanaian Listed Companies

Abstract

The purpose of this study is to examine the impact of good corporate governance practices on stakeholder’s satisfaction among Ghanaian listed companies. The target population comprised of Chief Executive Officers (CEO) and Directors of listed companies.103 CEO and 97 Directors out of the 400 participants returned their questionnaires. The study adopted purposive sampling technique to select the listed companies whiles convenience sampling techniques were employed to select Chief Executive Officers and Directors.With the aid of SPSS the following statistics were used: descriptive statistics to have clear picture of study variables. Cranach’s alpha to measures the internal consistency of the construct, Kurtosis and Skewness values to check the normality of each variable used and correlation analysis to measure the relationship between the variables and validated by Subject-completed Instruments The findings revealed that all the four construct of good corporate governance namely; transparency, accountability, fairness and responsibility had a significant and positive relationship with stakeholder’s satisfaction.  The research suggests that good corporate governance is not enough by having the right policies and procedures in place; it must be embedded into the culture of the organization from the very top down.

Keywords: Stakeholders; Satisfaction; Performance; Governance; Practice