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Africa in general, and Nigeria specifically, are both going through turmoil and change on a daily basis. Companies and firms and even government entities are being forced to make changes in the way the govern and are governed. Current literature is ripe with examples such as the review that determined that "though high dispersed, both within and between firms, corporate in the selected countries are relatively not independent" (Kyerboah-Coleman, 2007, p. 350). Failures abound in many industries and corporate governance affects almost every area of business. There have even been "major failures in corporate governance at banks" (New African, 2010, p. 63). Along with corporate governance, other factors are present such as the lack of technology. Once recent study determined that "except for the introduction of online registration by the Corporate Affairs Commission (CAC) in Nigeria, no serious integrative reform has been undertaken" (Bolodeoku, 2007, p. 107). Of course problems arise, and some of them are quite troublesome. Many of the companies just starting out have no idea how to implement good corporate governance, some don't even know what bad governance is. Problems such as who is responsible for Corporate Social Responsibility (CSR) in the developing nations...
However, it is much like a 2005 study found when it states that "numerous claims have been made about the contribution CSR can make to poverty alleviation and development goals" (Blowfield, Frynas, 2005, p. 500) but that "contributors to this issue have reached the conclusion that current CSR approaches do not warrant such claims" (p. 500). If corporations are being governed by individuals with a limited number of reasons to include CSR in their current corporate governance structure, there is not a lot of incentive for doing so.
Another problem is that there are not a lot of role models for those managers who wish to push their companies forward. One recent study found that "corporate governance (CG) model is a unique hybridization of the traditional Anglo-American and Continental European-Asian CG models" (Ntim, 2013, p. 150). If this is true, then perhaps what is needed is a pathway for Nigerian companies that follows an African model. This pathway can be extremely difficult to trod with other problems looming in the background. The other problems can include such items as the company's success relying on a "growing demand, healthy workers, continued investment and…
New African (2010) Banking revolution continues, Issue 494, pp. 62 -- 64
Ntim, C.G.; (2013) Corporate governance, affirmative action and firm value in post-apartheid South Africa: A simultaneous equation approach, African Development Review, Vol. 25, Issue 2, pp. 148-172
Soderbaum, F.; (2004) Modes of regional governance in Africa: Neoliberalism, sovereignty boosting and shadow networks, Global Governance, Vol. 10, Issue 4, pp. 419 -- 436
Reliability & Validity The key will be to find reliability and validity. Reliability, of course, is the concept that if someone else does the same exact research in the same exact way, the research conclusions drawn will be close to if not entirely identical. Validity is similar in that the conclusions met have to be directly applied and ascertained based on the data that actually exists and not based on the
Corporate Governance Two different, yet related corporate governance definitions have been presented in this paper (Mallin, 2006: 3). Sometimes they cause confusions and controversy and ultimately affect the implementation of tightening of governance (Windsor, 2009). The 1992 Cadbury Report, which presented the major proposals for tightening governance, described governance as the system through which firms are managed, regulated and supervised (Cadbury, 1992: 15). The fundamental agency idea emphasizes that corporate governance has
Corporate Governance: A review of Literature What is Corporate Governance? Principles of Corporate Governance Theoretical foundations of corporate governance Agency theory Stewardship theory Stakeholder theory Post-Enron theories Corporate Governance: The changing trends Recent developments on regulatory front and research Corporate Governance: Relationship with market indicators Venture Capital Model: Impact on Corporate Governance Appendix I- Examples of Corporate Governing bodies This paper is a review of pertinent literature on corporate governance. Corporate governance addresses the control issues created due to the separation of ownership
Governance and Ethics Corporate Governance & Ethics Dr. DoRight is the highly respected executive at Universal Human Care Hospital. He and Universal both stand to lose a great deal if it leaks out that patients have been dying due to lack of internal controls and simple negligence. Not only have patients been dying, but it has been going on for at least two years and while Dr. DoRight has been fully aware
"When Congress returned in 1934 to complete the federal disclosure tapestry, it created express private causes of action for misleading reports filed with the Securities and Exchange Commission (SEC) as part of the newly enacted continuous disclosure requirements, (3) provided private recoveries for market manipulation, (4) and authorized suits on behalf of reporting companies for short-swing profits garnered by certain insiders (Cox, Thomas, and Kiku, 2003)." The creation of the SEC
It should not be treated as a separate exercise undertaken to meet regulatory requirements." (ICA, 29) Here is expressed a philosophical impetus that drives the focus of this research, that such compliance which will generally concern matters such as corporate accounting, the practice of internal oversight and the practice of financial transaction must be considered inextricable from other aspects of practical, procedural and legal operation in terms of its