doi: 10.18178/joebm.2016.4.6.431
Effects of Non-macroeconomic Variables on Investor Protection in Africa
John Gartchie Gatsi
,
Millicent Kyeraa
- Department of Accounting and Finance, School of Business in the College of Humanities and Legal Studies, University of Cape Coast, Ghana.
Abstract
This paper examined the effect of non-macroeconomic variables on investor protection in Africa whiles controlling for, efficacy of corporate boards, ethical behavior of firms, efficiency of legal framework in settling disputes, efficiency of legal framework in challenging regulations and credit rating of countries. The study employs panel data covering the period from 2009 to 2013. It considered political stability, regulatory quality, voice and accountability, control of corruption, property rights and rule of law, as non-macroeconomic variables. The variables are based on their relative relevance from existing literature. The overall results show that non-macroeconomic variables are positively related to investor protection in African countries.
Keywords
- Non-macroeconomic variables
- investor protection
- investor environment
- African countries
- new institutional economics
How to Cite
John Gartchie Gatsi and Millicent Kyeraa, "Effects of Non-macroeconomic Variables on Investor Protection in Africa," Journal of Economics, Business and Management, vol. 4, no. 6, pp. 434-441, 2016. https://doi.org/10.18178/joebm.2016.4.6.431
Copyright & License
Copyright © 2016 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).