Board Size, Intensity Of Board Activity And Access To Finance: Empirical Evidence From Ghanaian SMEs
Our paper examines the effects of board characteristics on access to finance among Small and Medium Scale
Enterprises (SMEs) in Ghana by controlling for firm specific variables such as firm performance, firm size, owner/manager’s
age and firm’s age. It contributes to our knowledge on how board characteristics facilitate SMEs access to finance. We
employed primary data from 423 SMEs within the Accra Metropolis. Standard regression analysis was used to analyze the
data. The study highlights that board size and intensity of board activity had positive association with access to finance by
SMEs, although intensity of board activity was insignificant. We recommend that owner/managers of SMEs should strive to
involve others with the necessary expertise in the governance of their business.