Open Access Open Access  Restricted Access Subscription or Fee Access


Edgar Opata, Dr. Z Awino


Purpose: The study sought to determine the corporate governance practices and performances in the mobile and data services companies in Rwanda

Methodology: The research was carried out through descriptive survey design. Data was analyzed using Statistical Package for Social Sciences (SPSS) and results presented in frequency tables to show trend of the responses for the various questions posed to the respondents. The data was then analyzed in terms of descriptive statistics like means and percentages.

Results: The results revealed financial disclosure was a key determinant of company’s performance or profitability. This was demonstrated by the mean score of responses of the respondents. However financial disclosure was found not to be statistically significant in influencing profitability. Results showed that executive compensation influenced profitability as this was demonstrated by the mean score of the responses and the regression. The correlation between executive compensation and profitability was also found to be strong and positive. The study findings showed that ownership structures were a key ingredient of company’s performance. Ownership structures were found to be statistically significant. The fourth and final objective was to find out whether legal structure influenced company’s profitability. It was found that legal structure was important to firm’s profitability but was not statistically significant.

Unique contribution to theory, practice and policy: The study recommends that the management should practice financial transparency by ensuring that the company follows international financial report standards and guidelines in making the annual reports and ensure that they release quarterly performance reports to the public and their business partners. The study also recommends that the effectiveness of the board is very essential in today’s competitive environment for increases firm value. It is also recommended that the firm should have well-structured ownership structures in their companies. The study recommends that the company should have a legal structure in place to ensure that all the legal battles are sorted out of court.

Keywords: corporate governance practices, performances, mobile, data service company

This Abstract was viewed 134 times | PDF Article downloaded 114 times


corporate governance practices, performances, mobile, data service company

Full Text:



Adams, R., & Mehran, H. (2003). Is corporate governance different for bank holding companies?Econ. Policy Rev., 9: 123-142.

Ashbaugh, H., Collins, D.S., & Fond, R. (2004).Corporate governance and cost of equity capital.WorkingPaper.University of Wisconsin-Madison, University of Iowa and Massachusetts Institute of Technology.

Bauer, R., Frijns, B., Otten, R., &Tourani-Rad, A. (2008). The Impact of Corporate Governance on Corporate Performance: Evidence from Japan. Pacific-Basin Finance Journal. 16 (June): 236-251.

Bauer, R., Gunster, N., &Otten, R. (2004). Empirical Evidence on Corporate Governance in Europe: the Effect on Stock Returns, Firm Value and Performance. Journal of Asset Management. 5: 91-104.

Belkhir, M. (2009a). Board structure, ownership structure and firm performance: evidence from banking. Appl. Finance. Econ., 19(19): 1581-1593.

Belkhir, M. (2009b). Board of directors' size and performance in the banking industry.Int. J. Managerial Finance. 5 (2): 201-221

Bohren, O., &Odegaard, B. (2003).Governance and Performance Revisited.Working Paper No. 28/2003.European Corporate Governance Institution.

Botosan, C.A., &Plumlee, M. (2002).A re-examination of disclosure level and the expected cost of equity capital.J. Acc. Res., 40(1): 21 – 40.

Botosan, C.A., &Plumlee, M.A. (2005).Assessing alternative proxies for the expected risk premium. Acc. Rev., 80(1): 21-53.

Brown, L.D., &Caylor, M.L. (2006).Corporate governance and firm valuation.J. Acc. Pub. Pol., 25: 409 -434.

Burns, N., & Grove, K. (2003). Understanding nursing research (3rd ed.). Philadelphia: W.B. Saunders Company.

Cadbury, A. (1992). Report of the Committee on the Financial Aspects of Corporate Governance. London: Gee & Co.

Drobetz, W., Scillhofer, A.,& Zimmermann, H. (2004). Corporate Governance and Expected Stock Returns: Evidence From Germany. European Financial………Management. 10 (2): 267-293.

Freeman, R. E. (1984). Strategic Management: a Stakeholder Approach. Boston: Pitman.

Freeman, R. E., Wicks, A. C., &Parmar, B. (2004).Stakeholder Theory and the ….Corporate Objective Revisited.Organization Science. 15(May-June): 364-369.

Friedman, E., Johnson, S., & Mitton, T. (2003).Propping and tunnelling.Journal of Comparative Economics. 31 (June): 732–750.

Greenbury, R. (2002). The GreenburyReport, Chairman’s Preface. Retrieved from–SarbancesOyleywww.ecgi/codes/country at 9.210

Jensen, M. C. (1986). Agency Costs of Free Cash Flow, Corp.Finance and Take overs. American Economic Review. 76 (May): 323-329.

Jensen, M. C. (1993). The Modern Industrial Revolution, Exit, and the Failure of .Internal Control Systems.Journal of Finance. 48 (July): 831-880.

Jensen, M.C., &Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior. Agency Costs and Ownership Structure.Journal of Finance Economics.3 (October): 305-360.

Kothari, C. (2004). Research Methodology: Methods & Techniques, 2nd edition.New age International Publishers, New Delhi, India.

Kulzick, R. (2004). Sarbanes-Oxley:Effects on Financial Transparency. SAM Advanced Management Journal,pp.43-49.

La Porta, R., Lopez-de-Silanes, F., Shleifer, A., and Vishny, R.W. (2000). Investor..Protection and corporate governance. J. Financ. Econ., 58: 3-27.

Lavrakas, P. (2008). Encyclopedia of Survey Research Methods, Vol. 1 & 2.SagePublications, Los Angeles, United States of America.

Linck, J.S., Netter, J.M., & Yang, T. (2008).The determinants of board structure.J.Financ. Econ., 87(2): 308-341.

Lipton, M., &Lorsch, J.W. (1992).A Modest Proposal for Improved Corporate Governance. Business Lawyer, 48: 59-77.

Mugenda, O., &Mugenda, A. (2003).Research methods quantitative and qualitative Approaches.Nairobi Acts press.


  • There are currently no refbacks.

Paper submission email:

This journal follows ISO 9001 management standard and licensed under a Creative Commons Attribution 3.0 License.

Copyright ©