Title:
The Influence of Corporate Governance on Investment Decisions: An Analysis of the Moderating Role of the Quality of the External Audit of BRVM-listed Companies

Authors:
Asséréou Clovis Macaire HOUEWOU, Joress AGBOVOEDO; Boniface BAMPOKY, Chad

Abstract:

This study aims to examine how the quality of the external audit acts as a moderating factor in the relationship between corporate governance and investment decisions of companies listed on the BRVM. Our quantitative study was conducted using a questionnaire with 210 key people (managers, auditors, investors, accountants, directors) in 41 non-financial companies listed on the BRVM, covering five sectors: industry, agriculture, distribution, transport and utilities. The data was collected and analysed using SPSS 20 software.

Our results revealed that, on the one hand, effective corporate governance has a positive impact on investment decisions. In addition, we observed a positive effect of external audit quality on investment decisions. On the other hand, the interaction between corporate governance and external audit quality has a positive influence on investment decisions. Ultimately, external audit quality plays a moderating role in the relationship between corporate governance and investment decisions.

DOI: https://doi.org/10.51505/IJEBMR.2026.1023