The effect of board structure and process disclosure on corporate performance in the emerging African markets
Bibliographic record
Abstract
Abstract Purpose – The purpose of this paper is to examine the impact of the board structure and process disclosure (henceforth BSPD) level on corporate performance, depending on the Anglophone vs Francophone business culture prevailing in African emerging markets. Design/methodology/approach – The BSPD score is measured by searching 220 annual reports (year ended 2006) for information of 35 items provided by S&P's template in 11 emerging markets in Africa. The empirical model builds on multiple regressions and assumes interaction between the Anglophone/Francophone business culture and BSPD level to affect corporate performance. Findings – African companies from countries having historical links with Great Britain exhibit substantially higher BSPD scores than those from countries having historical links with France. The influence of BSPD level on corporate performance is more pronounced for financial Anglophone African companies than non‐financial Anglophone African companies. Practical implications – Providing BSPD levels for African emerging markets helps to a better understanding of the board of directors' activity and characteristics that prevail in both Anglophone and Francophone African companies. The implications are potentially useful for regulators, market authorities and standard setters in order to provide new requirements on corporate governance narrative reporting in African emerging markets. BSPD scores obtained for African emerging markets can also serve for comparison with other emerging markets in Asia, Latin America, Eastern Europe and the Middle East. Originality/value – This paper is one of the first to examine the effect of BSPD level on corporate performance in African emerging markers. This study contributes to asserting the role of Anglophone vs Francophone business culture in shaping the level of disclosure on board structure and activity and its influence on corporate performance in Africa.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.003 | 0.019 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.001 | 0.001 |
| Scholarly communication | 0.003 | 0.002 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.005 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".