The Mediating Effect of Corporate Governance on the Relationship Between Accounting Information and Stock Market Return of Listed Entities in Ghana  

作　　者：Joseph Kwasi Agyemang Barjoyai Bin Bardai 

机构地区：[1]University of Eswatini,Manzini,Eswatini [2]Al-Madinah International University,Kuala Lumpur,Malaysia

出　　处：《Journal of Modern Accounting and Auditing》2022年第2期60-89,共30页现代会计与审计（英文版）

摘　　要：The study examined the mediating effect of corporate governance on the relationship between accounting information and stock market returns of listed entities on the Ghana Stock Exchange.The population of the study was forty(40)listed entities from 2007-2019 with 520 firm-year observations.The study applied a panel regression model that takes unobserved individual heterogeneity and distributional heterogeneity into consideration.In addition,the study employed cross-section dependence test,Levin-Lin-Chu,ImPesaran,Pesaran,Kao,and Larsson cointegration test,fully modified ordinary least square(FMOLS),and dynamic ordinary least square(DOLS).The results of unit root test showed that all the variables are integrated at first difference.Moreover,the results of cointegration test revealed that accounting information variables were cointegrated in the long run.The result of FMOLS and DOLS further revealed that all the accounting information variables with the exception of OCFPS and NTA have a direct insignificant relationship with the stock market return.The study revealed that corporate governance which was proxied by board size also strengthens the relationship between TAT and stock market return and NTA and stock market return at 5%significant level under FMOLS and DOLS respectively.

关 键 词：accounting information corporate governance stock market return board size 

分 类 号：F42[经济管理—产业经济]