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Globalization and Corporate Governance: Challenges and Prospect for Sub-Saharan Africa

Globalization and Corporate Governance: Challenges and Prospect for Sub-Saharan Africa

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  • November 14, 2023
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Authored by
Igwe, Anthonya, Ogbu, Dennis Ekpeb & Emeali, Christian Chukwuebukac
abcDepartment of Management, University of Nigeria, Enugu Campus

Abstract
The study evaluated globalization and corporate governance: challenges and prospects for Sub-Saharan Africa. The specific objectives were to ascertain the relationship between global technology and risk management and examine the relationship between global culture and compliance in Sub-Saharan Africa. The study used a descriptive survey design approach, and the primary source of data was the administration of a questionnaire. The population of the study consisted of three hundred (300) students, and the whole population was used due to the small number. Two hundred and fifty-five (255) staff returned the questionnaire and accurately filled it. Data was presented and analyzed using the Likert Scale, and the hypotheses were tested using the Pearson correlation (r) test. The findings indicated that global technology had a significant positive relationship with risk management (r = .553, n = 255, p < .05) and that global culture had a significant positive relationship with compliance in Sub-Saharan Africa (r = .544, n = 255, p < .05). The study concluded that global technology and global culture had significant positive effects on risk management and compliance in Sub-Saharan Africa. Globalization leads to increased competition. The study recommended, among other things, that there is a need to allow countries to gain easier access to foreign knowledge to facilitate international competition, as a result of the rise of emerging market firms, which will strengthen firms’ incentives to innovate and adopt foreign technologies.

Keywords: Globalization; Corporate Governance; Global Technology; Risk Management; Global Culture
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Citations: Igwe, A., Ogbu, D. E. & Emeali, C. C. (2023). Globalization and Corporate Governance: Challenges and Prospect for Sub-Saharan Africa. Contemporary Journal of Management 5(4), 31-45. https://doi.org/10.5281/zenodo.10123776

 

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