INDEPENDENT DIRECTORS, BOARD ACTIVITY, FEMALE DIRECTORS AND BANKS FINANCIAL DISTRESS IN GHANA

TABLE OF CONTENTSDECLARATIONABSTRACTACKNOWLEDGEMENTSDEDICATIONCHAPTE`R ONEINTRODUCTION1.1 Background of the Study1.2 Statement of the Problem1.3 Objectives of the Study1.4 Research Questions1.5 Significance of Study1.6 Limitation of the Study1.7 Overview of Methodology1.8 Organization of the Study2.0. Introduction2.1 Conceptual Review2.1.1 Financial distress2.1.2 Board characteristics2.1.3 Board independence2.1.4 Female directors2.1.4 Board size2.2 Theoretical Review2.2.1 Liquid Asses and … See more

TABLE OF CONTENTSDECLARATIONABSTRACTACKNOWLEDGEMENTSDEDICATIONCHAPTE`R ONEINTRODUCTION1.1 Background of the Study1.2 Statement of the Problem1.3 Objectives of the Study1.4 Research Questions1.5 Significance of Study1.6 Limitation of the Study1.7 Overview of Methodology1.8 Organization of the Study2.0. Introduction2.1 Conceptual Review2.1.1 Financial distress2.1.2 Board characteristics2.1.3 Board independence2.1.4 Female directors2.1.4 Board size2.2 Theoretical Review2.2.1 Liquid Asses and Liquidity Theory2.2.2 Profitability Theory2.2.3 Agency theory2.2.4 Stewardship theory2.1.4 Resource dependence theory2.3 Empirical Review2.3.1 Board Size and Financial Distress2.3.2 Profitability and Financial Distress2.3.3 Board independence and financial distress2.3.4 Females in the board and financial distress2.3.5 Board Independent Representations and Firm PerformanceCHAPTER THREEMETHODOLOGY3.1 Introduction3.2 Research Area and Population3.3 Study Design3.4 Sample and Sampling Techniques3.5 Data Collection Tools and Method3.6 Data Analysis Method3.7 Ethical ConsiderationsCHAPTER FOURPRESENTATION OF RESULTS AND DISCUSSIONS4.1 Introduction4.2 Presentation of Analysis4.2.1 Descriptive Statistics4.3 Discussion of Results4.1 Financial Distress Status4.2 Board Independence and Financial Distress4.3 Board activity and financial distress4.4 Female Directors and Financial DistressCHAPTER FIVESUMMARY, CONCLUSION AND RECOMMENDATION5.1 Introduction5.2 Summary5.3 Conclusion5.4 Recommendations5.5 Future ResearchREFERENCES ABSTRACTThis study examines the relationship between board independence, female directors and likelihood of financial distress among listed banks in Ghana Stock Exchange over the period of 2015 to 2020. The study was founded on four (4) primary objectives: (1) the financial distress status of listed banks in Ghana; (2) the relationship between board independence and financial distress among listed banks in Ghana; (3) the relationship between board activity and financial distress in Ghana; and (4) the relationship between female directors and financial distress among listed banks in Ghana. The study used statistics of variables such as Z-score, Board Independence, Board Size, Board Activity, Return on Equity and Female Board Size. Also, the results of the study based on the total sample as well as for the Healthy and Distressed banks separately, Panel Data Random-effects and Panel Data Fixed Effect Regression using the Hausman Test (Choosing between Fixed effect and Random effect). The research focused on listed banks in Ghana Stock Exchange. A total of 9 banks were examined in the study. A total of 54 annual reports were used, from the period of 2015 to 2020. Panel regression (fixed and random effects) was used. The Hausman test was used to select the most appropriate model from the fixed-effect and random-effect models. Moreover, financial distress status was a key concern to the study. The study explored, banks can be considered as distressed if the banks fall in a condition in which a board activity, board size or independent directors cannot generate sufficient revenues or income, making it unable to meet or pay its financial obligations. Based on the findings and conclusions in the research, the study suggests that banks with better financial performance or return on equity include more female directors, board independence and large board in their board structure and perform better.

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