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Corporate governance and financial performance of asset managers in South Africa
Corporate governance plays an important role in the creation of long-term value and the protection of shareholders and other stakeholders' interests. This research study examines the influence of corporate governance characteristics (board size, board independence, board chairman independence, audit...
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| Format: | Thesis |
| Language: | English |
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Graduate School of Business (GSB)
2025
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| _version_ | 1867613341476716544 |
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| access_status_str | Open Access |
| author | Mpai, Abygale |
| author2 | Alhassan, Abdul Latif |
| author_browse | Alhassan, Abdul Latif Mpai, Abygale |
| author_facet | Alhassan, Abdul Latif Mpai, Abygale |
| author_sort | Mpai, Abygale |
| collection | Thesis |
| description | Corporate governance plays an important role in the creation of long-term value and the protection of shareholders and other stakeholders' interests. This research study examines the influence of corporate governance characteristics (board size, board independence, board chairman independence, audit committee independence, and audit committee financial expertise) on the financial performance of asset management firms in South Africa. The proxy for financial performance is Return on Assets. The study employed the fixed and random effects panel regression techniques to estimate a panel data of 11 asset management firms in South Africa from 2012 to 2023. The results of the analysis show a positive and significant relationship between Return on Assets, board chairman independence, and audit committee financial expertise. While the relationship between board independence and Return on Assets is observed to be positive, it is not statistically significant. By contrast, board size and audit committee independence ratio showed no significant relationship with Return on Assets. Therefore, this study recommends the appointment of an independent non-executive chairman on the board of directors to achieve enhanced directorship independence and improved monitoring and supervisory responsibilities within the organisation. Furthermore, South African asset management firms should consider drafting more members with financial expertise into the audit committee and, in particular, directors with a background in accounting, audit, regulation, compliance, internal controls, and enterprise risk management. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/42479 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:34:36.552Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2025 |
| publishDateRange | 2025 |
| publishDateSort | 2025 |
| publisher | Graduate School of Business (GSB) |
| publisherStr | Graduate School of Business (GSB) |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/42479 Corporate governance and financial performance of asset managers in South Africa Mpai, Abygale Alhassan, Abdul Latif asset management Corporate governance plays an important role in the creation of long-term value and the protection of shareholders and other stakeholders' interests. This research study examines the influence of corporate governance characteristics (board size, board independence, board chairman independence, audit committee independence, and audit committee financial expertise) on the financial performance of asset management firms in South Africa. The proxy for financial performance is Return on Assets. The study employed the fixed and random effects panel regression techniques to estimate a panel data of 11 asset management firms in South Africa from 2012 to 2023. The results of the analysis show a positive and significant relationship between Return on Assets, board chairman independence, and audit committee financial expertise. While the relationship between board independence and Return on Assets is observed to be positive, it is not statistically significant. By contrast, board size and audit committee independence ratio showed no significant relationship with Return on Assets. Therefore, this study recommends the appointment of an independent non-executive chairman on the board of directors to achieve enhanced directorship independence and improved monitoring and supervisory responsibilities within the organisation. Furthermore, South African asset management firms should consider drafting more members with financial expertise into the audit committee and, in particular, directors with a background in accounting, audit, regulation, compliance, internal controls, and enterprise risk management. 2025-12-23T07:25:06Z 2025-12-23T07:25:06Z 2025 2025-12-23T07:21:31Z Thesis / Dissertation Masters MBA http://hdl.handle.net/11427/42479 eng application/pdf Graduate School of Business (GSB) Faculty of Commerce University of Cape Town |
| spellingShingle | asset management Mpai, Abygale Corporate governance and financial performance of asset managers in South Africa |
| thesis_degree_str | Master's |
| title | Corporate governance and financial performance of asset managers in South Africa |
| title_full | Corporate governance and financial performance of asset managers in South Africa |
| title_fullStr | Corporate governance and financial performance of asset managers in South Africa |
| title_full_unstemmed | Corporate governance and financial performance of asset managers in South Africa |
| title_short | Corporate governance and financial performance of asset managers in South Africa |
| title_sort | corporate governance and financial performance of asset managers in south africa |
| topic | asset management |
| url | http://hdl.handle.net/11427/42479 |
| work_keys_str_mv | AT mpaiabygale corporategovernanceandfinancialperformanceofassetmanagersinsouthafrica |