Areneke, G., Khlif, W., Kimani, D. orcid.org/0000-0002-8267-4150 et al. (1 more author) (2022) Do corporate governance codes matter in Africa? In: Marnet, O., (ed.) Research Handbook on Corporate Board Decision-Making. Business 2022 . Edward Elgar Publishing , pp. 273-301. ISBN 9781800377172
Abstract
Africa is often depicted in the literature as the 'patron late to the party' on account of her low uptake of corporate governance codes. Notwithstanding, countries that have an existing corporate governance code continue to exhibit weak corporate accountability and governance practices. This prompted a critical analysis based on a detailed review of published articles and existing codes in the African multiple-contexts. Our findings reveal that the efficacy of many codes remains very limited in terms of pragmatic outcomes whilst firms in countries that have adopted codes continue to face uneven performance and poor accountability. We conclude by urging for an understanding of the reasons underlying such results. We recommend an African-led re-think (independence, ownership, board processes) of existing codes to make them more aligned with the governance needs of African firms and their complex sociocultural background. We call for further research to illuminate Africa's actual governance experiences and necessities.
Metadata
Item Type: | Book Section |
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Authors/Creators: |
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Editors: |
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Copyright, Publisher and Additional Information: | © 2021 Edward Elgar Publishing. This is an author-produced version of a chapter subsequently published in Research Handbook on Corporate Board Decision-Making. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Corporate governance; Codes; African principles; Africa; Board of directors; Boardroom processes; Neo-colonialism; Developing countries |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 14 Mar 2024 15:33 |
Last Modified: | 15 Mar 2024 10:08 |
Status: | Published |
Publisher: | Edward Elgar Publishing |
Series Name: | Business 2022 |
Refereed: | Yes |
Identification Number: | 10.4337/9781800377189.00023 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:210261 |