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Ownership structure and financial distress: is the tale from Sub-Saharan Africa different?
(Emerald Publishing., 2025) Kariuki, Peter Wang'ombe.; Abdulkadir, Mohammed.; Kariuki, Samuel Nduati.
Abstract Purpose The paper investigates the effect of ownership structure on the financial distress of firms listed in sub-Saharan Africa. Design/methodology/approach Using secondary data from 106 non-financial firms listed in 9 selected SSA countries from 2016 to 2021, the research using paired t-tests and conditional logistic regression model analysed a sample of 174 distressed observations matched with 174 non-distressed observations. Findings T-tests determined significant differences between distressed and non-distressed groups concerning institutional, foreign, and local ownership. Conditional logistic results established that institutional, foreign, and state ownership significantly reduce distress. However, managerial ownership does not influence financial distress while a significant positive relationship is observed between local ownership and financial distress. Originality/value This is the first study to investigate the influence of ownership structure, including local ownership, on financial distress in SSA, employing a unique methodology of matched design and conditional logistic regression analysis. Furthermore, the paper presents cross-country evidence from emerging frontier markets, highlighting the importance of governance frameworks in firms’ stability.
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Sustainability reporting in sub-Sharan Africa: Does audit committee diversity and executive compensation matter?
(2025) Kariuki, Peter Wang'ombe.; Lewa, Elias Mwasambu.; Gatimbu, Karambu Kiende.
Abstract Climate change is a critical global issue that impacts the modern corporate world. Shareholders and stakeholders increasingly demand corporate responsibility, especially due to increasing global resource depletion. Sustainability reporting varies significantly from region to region, with emerging markets facing greater challenges. The lack of synergy between nations and the lack of harmonized corporate reporting hinders efforts to address these issues. Using a multivariate regression model, the study assessed 101 non-financial companies listed in ten sub-Saharan African (SSA) countries from 2016 to 2021. The data was extracted from the study period's audited annual and stand-alone sustainability reports. The influence of audit committee characteristics on social, environmental, economic and disclosure of composite sustainability reporting was assessed. Empirical findings indicate that audit committee independence has a positive effect on sustainability reporting, while the director compensation ratio has a negative effect on it. The result provides policy insights into sustainability disclosure levels in SSA and highlights the need for more independent audit committees. Additionally, it is recommended that executive compensation be aligned with sustainability performance metrics to improve the control and credibility of sustainability disclosures
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Do board structure and director compensation influence financial reporting quality? Evidence from nonfinancial listed firms in Anglophone Sub-Saharan Africa.
(Emerald Publishing., 2026) Kariuki, Peter Wang'ombe.; Chepkorir, Benaline.; Nyakarimi, Samuel Ngigi.
Abstract Purpose This study explores the influence of board structure and director compensation on the financial reporting quality of nonfinancial firms listed in Sub-Saharan Africa. Design/methodology/approach Data from 110 firms listed on 10 securities exchanges from 2017 to 2023 were utilized. The Beneish M-Score serves as a proxy for earnings manipulation,employing a limited-dependent-variable estimation methodology with a multi-country panel dataset. Following the model specification tests, a random effect model was fitted. A pooled OLS model was employed for a robustness check. Findings The study finds that larger boards and higher directors’ compensation are associated with a lower likelihood of earnings manipulation, indicating improved monitoring efficacy. Additionally, larger firms are less likely to engage in earnings manipulation, underscoring the need to enhance monitoring of smaller firms. Originality/value This study bridges the gap in the literature by providing cross-country evidence of financial reporting quality in Sub-Saharan Africa, an underexplored emerging market context. It contributes to the corporate governance literature by providing empirical evidence on the influence of board structure and directors' compensation on financial reporting quality across countries.
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Knowledge management considerations in learning management systems in higher education institutions: a systematic review, synthesis and research agenda
(Emerald Publishing, 2023) Omanyo, Joshua O.; Ndiege, Joshua R.
Purpose This paper aims to examine the state of research on the symbiotic relationship between knowledge management and learning management systems in advancing the mutual strategic agenda of the two initiatives in higher education institutions (HEIs), so as to uncover the themes that have been studied, identify gaps in the existing studies and suggest future areas of research work. Design/methodology/approach The study adopted systematic literature review (SLR), in which 64 articles published between 2010 and 2022 were identified and analyzed. Findings Whereas the review revealed some focus areas that have been researched, it also found that only few studies have explicitly explored the symbiotic relationship between knowledge management and learning management systems, with fewer articles exploring this relationship finding their way to mainstream journals. Thus, the findings showed that examination of the interlink between knowledge management and learning management systems in HEIs is still less explored and has multiple possibilities for future research with potential benefits to the higher education industry. Originality/value Although different SLRs exist separately in the fields of knowledge management and learning management systems, there seem to be no reviews on the interconnection between the two fields in the context of HEIs. Additionally, this review offers insights into future research avenues for theory, content and context of interplay between knowledge management and learning management systems in HEIs.
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E-learning and sustainability of higher education in Sub-Saharan Africa: a review and synthesis
(Emerald Publishing, 2025) Omanyo, Joshua O.; Ndiege, Joshua R. A.
Purpose This study aims to examine the state of literature on the role of e-learning in the sustainability of higher education institutions in Sub-Saharan Africa, with the goal of identifying explored thematic areas, finding out the deficiencies in extant literature and recommending areas of future research work. Design/methodology/approach The research used a systematic literature review, examining articles published between 2012 and 2022. In total, 52 publications were identified and subjected to analysis. Findings The findings reveal that few studies have explored the relationship between e-learning and the sustainability of higher education in Sub-Saharan Africa, with larger economies in the region dominating research output. In addition, traditional technology adoption and social learning theories dominate the theoretical frameworks in this area. Moreover, the authors observed limited adaptation of these theories to local contexts, leading to outcomes with limited contextual details or lack of the same. Despite its potential, e-learning has yet to be fully embraced as a strategic tool for the sustainability of higher education in Sub-Saharan Africa. Originality/value Although various systematic literature reviews exist in the field of sustainability in higher education, there seem to be no reviews specifically focused on e-learning within the context of Sub-Saharan Africa. This review sheds some light on potential future research paths regarding the theory, content and context of e-learning for the sustainability of higher education in Sub-Saharan Africa, and by extension, in developing countries worldwide.