Impacts of Corporate Governance Reforms on Firms in Sierra Leone: a Review of Evidence and Future Directions
Year: 2024
Type: article
Abstract: This article analyses the effects of corporate governance reforms on companies in Sierra Leone, emphasizing the efficacy of these reforms in improving transparency, accountability, and overall company performance. After years of civil strife and economic volatility, Sierra Leone has established many corporate governance frameworks to rebuild investor confidence and promote sustainable economic development. This review consolidates evidence from literature reviews, case analyses, and policy assessments to evaluate the effects of these reforms on corporate conduct and performance indicators. The study also utilized theoretical and empirical insights to guide future research approaches to understanding corporate governance in Sierra Leone. Findings from the study indicate that effectively designed corporate governance reforms can significantly enhance business performance by reducing agency costs, augmenting managerial accountability, and facilitating capital access (Jensen & Meckling, 1976; Gompers et al., 2003). It further highlights the challenges affecting effective corporate governance in Sierra Leone. The paper concludes with recommendations for future research directions, emphasizing the need for more robust empirical studies to explore the long-term effects of corporate governance reforms on firm performance and broader economic development in Sierra Leone. By addressing these gaps, policymakers and business leaders can better navigate the evolving landscape of corporate governance in the country.
Authors: Mohamed Yusuf, Emmanuel Dauda, Sahr Septimus Chambay-M'boawoh Alpha Lebbie-Tiafoe
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W6949431281
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