Crisis Management Teams and Financial Performance of State and Privately Owned Enterprises in Ghana

This paper examined the impact of crisis management teams on the financial performance of 100 state and privately owned enterprises in Ghana. Drawing on contingency theory, the study adopted a quantitative approach by analysing panel data from 2011 to 2020, using a random effects GLS regression model to determine the impact. Contrary to previous studies, the result showed that crisis management teams in state owned enterprises are more efficient than privately owned enterprises. The study recommended regular simulation exercises and the appointment of competent members of crisis management teams to prevent laxity. Despite the valuable contributions to literature, the study is limited in scope. A sample size of 100 enterprises is a small representation of the total population of enterprises in Ghana and, therefore, limits the generalisation of the findings beyond this context.