Corporate Governance Practices: A Global Perspective with a Focus on Ghana

Abstract

Following the burst of the high-tech bubble and corporate finance scandals, corporate governance (CG) has emerged as a critical global concern. This study explores corporate practices on a global scale, with particular attention to the International Corporate Governance Standards. It seeks to comprehend how organizations prioritize CG practices, especially from the Ghanaian perspective.The study employed both secondary and primary data to investigate the research. Relying on secondary data, the researcher reviewed relevant textbooks, journals, web-based sources, official company documents, published reports, newspapers, articles and monographs. The researcher also gathered primary data by administering questionnaire to respondents. Out of 99 respondents to whom questionnaires were sent, 78 (representing 79%) returned their responses. Upon receipt, the researcher used SPSS 15.0 to draw bar chart in order to analyse the results. The findings indicate that while Ghana has made significant strides in promoting CG awareness and implementing robust policies supported by laws and institutions, there remain gaps between stated priorities and actual practices. Issues such as conflicts of interest, lack of effective oversight by audit committees, and discrepancies in disclosure practices suggest areas for improvement.