scholarly journals Reflecting on Corporate Governance in South Africa: Lessons Learned and the Way Forward

2020 ◽  
Vol 24 ◽  
Author(s):  
Marilee Van Zyl ◽  
Nadia Mans-Kemp
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
Institutional Investors ◽  
Auditor Independence ◽  
Performance Outcomes ◽  
Lessons Learned ◽  
Structured Interviews ◽  
Bottom Line ◽  
Executive Remuneration ◽  
Director Independence

Background: South Africa is a corporate governance pioneer. The King Reports have offered guidance to listed companies in the country since 1994 and unlisted entities since 2016. In the drive for corporate change, attention is increasingly placed on the role of activist shareholders, in particular institutional investors, given the size of their investments. Purpose/objectives: This study aimed to gauge institutional investors’ views on the differences between the King III and IV Reports related to positive aspects and room for improvement. Design/methodology/approach: Semi-structured interviews were conducted with selected institutional investors. Themes were then derived by conducting an interpretive thematic analysis. Findings: Interviewees commended the format and scope of the latest King Report but suggested that outcomes-based training should be offered to directors to ease implementation. Executive remuneration, director independence and auditor independence were highlighted as areas that require attention. Some interviewees questioned whether the current non-binding vote on executive remuneration is sufficient. They suggested that executive remuneration should be tied to performance outcomes across the triple bottom line. Participants recommended that director independence should be considered on a case-by-case basis, instead of strictly applying King IV’s suggested tenure guideline. Furthermore, mandatory audit firm rotation could enhance auditor independence, and hence transparency. Stakeholders are encouraged to demand enhanced transparency on corporate matters to enable more informed decision-making.

6. Company Management and Governance

2020 ◽  
pp. 100-120
Author(s):  
Imogen Moore
Keyword(s):  
Corporate Governance ◽  
Institutional Investors ◽  
Executive Directors ◽  
Corporate Governance Code ◽  
Executive Remuneration ◽  
Questions And Answers ◽  
The Uk ◽  
And Control ◽  
The Relationship

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter explores important issues in company management and corporate governance, starting by examining the role of directors and shareholders (and the relationship between them) and the separation of ‘ownership and control’. Since the early 1990s, the governance of listed companies has been dominated by self-regulatory codes (currently the UK Corporate Governance Code). This chapter examines how these codes operate and considers key themes in corporate governance, including the role of non-executive directors and auditors; the position of institutional investors; and executive remuneration.

scholarly journals An Analysis of Public Order Policing in the Gauteng Province, South Africa

2021 ◽  
Vol 10 ◽  
pp. 1320-1332
Author(s):  
Zephania Mqedi Mkhwanazi ◽  
Dee Khosa ◽  
Keyword(s):  
South Africa ◽  
Human Rights ◽  
Civil Liberties ◽  
Academic Community ◽  
Lessons Learned ◽  
Public Order ◽  
Research Approach ◽  
Structured Interviews ◽  
South African Police Service ◽  
Service Training

Background: Public order policing (POP) has attracted considerable interest from the academic community due to public protests in South Africa. This is not surprising given that it represents an important component of police work. As South Africa’s democracy has been maturing, the democratic dispensation brought the promise of civil liberties and a human rights culture. Although these parallel developments brought prospects of accountability and legitimacy by the South African Police Service (SAPS), the restoration of public order, especially during public protests, has remained a challenge for the SAPS. Purpose: The objectives of this research were threefold: to explore the role of the POP unit; to explore its capacity to respond to public protests; and to determine the effectiveness of the integrated interventions of the relevant stakeholders to restore engagement and order. Methods: A qualitative research approach employing semi-structured interviews was utilised. To understand the policing of public protests, purposeful sampling was utilised to select 25 participants comprising community members, municipal officials, and POP members. These participants were selected since they are directly involved either in responding to public order or being part of protests, and it was therefore envisaged that their contribution would assist in understanding how protests are responded to. Conclusion: The findings indicate that when the POP units that are mandated to fulfil these goals are not effective, disruptions of public order are minimised and the destructive consequences of those that do occur are contained. The results illustrate that the restoration of public order necessitates regenerating public order characterised by low expectations of violence and a heightened respect for human rights. Recommendations: This article recommends that the relevant stakeholders in collaboration with the POP unit must respond adequately to the maintenance of safety and security during protests. The relevant stakeholders and the POP unit should enhance the effectiveness of the current strategies to be able to deal with anticipated public violence and disorder, improvement of the intelligence-gathering process to plan properly, adequate and proper training facilities, reviewing and updating of training manuals, and methods based on lessons learned and best practices to ensure that the training is relevant. POP members must undergo regular training and in-service training to maintain their fitness levels, standards, proficiency, and competencies.

The evolution and alignment of institutional shareholder engagement through the King and CRISA reports

2020 ◽  
Vol 11 (2) ◽  
pp. 147-153
Author(s):  
Richard Foster
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
Institutional Investors ◽  
Shareholder Activism ◽  
Institutional Investor ◽  
Historical Narrative ◽  
Content Type ◽  
Shareholder Engagement ◽  
On The Road ◽  
High Level

Purpose The purpose of this study is to provide a high-level review of the evolution of shareholder activism and institutional investor engagement in the corporate governance ecosystem in South Africa. Furthermore, it specifically seeks to explain the incorporation of such aspects into the various key codes and reports on corporate governance in South Africa since 1994. Design/methodology/approach Historical narrative and analysis. Findings This study highlights how shareholder activism and institutional investor engagement in the corporate governance ecosystem have been considered and addressed in South Africa since the publication of the First King Report in 1994. The progress that has been made specifically with regard to the introduction of a code for institutional investors is highlighted. The study ultimately acknowledges that this evolution is a continuing journey on the road to stakeholder inclusivity and engagement, and then concludes that the specific role and impact of institutional investors, particularly given some of the recent corporate governance failures, will require further consideration going forward. This should ensure the continued alignment of all stakeholders and assist in making the necessary improvements to the overarching governance framework and attendant culture. Originality/value This study is a part of a special issue that looks at the contribution of the King reports to governance globally.

6. Company Management and Governance

2016 ◽  
Author(s):  
Imogen Moore
Keyword(s):  
Corporate Governance ◽  
Institutional Investors ◽  
Executive Directors ◽  
Corporate Governance Code ◽  
Executive Remuneration ◽  
Questions And Answers ◽  
The Uk ◽  
And Control ◽  
The Relationship

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter explores important issues in company management and corporate governance, starting by examining the role of directors and shareholders (and the relationship between them) and the separation of ‘ownership and control’. Since the early 1990s, the governance of listed companies has been dominated by self-regulatory codes (currently the UK Corporate Governance Code). This chapter examines how these codes operate and considers key themes in corporate governance, including the role of non-executive directors and auditors; the position of institutional investors; and executive remuneration.

6. Company Management and Governance

2018 ◽  
Author(s):  
Imogen Moore
Keyword(s):  
Corporate Governance ◽  
Institutional Investors ◽  
Executive Directors ◽  
Corporate Governance Code ◽  
Executive Remuneration ◽  
Questions And Answers ◽  
The Uk ◽  
And Control ◽  
The Relationship

The Concentrate Questions and Answers series offers the best preparation for tackling exam questions and coursework. Each book includes typical questions, suggested answers with commentary, illustrative diagrams, guidance on how to develop your answer, suggestions for further reading, and advice on exams and coursework. This chapter explores important issues in company management and corporate governance, starting by examining the role of directors and shareholders (and the relationship between them) and the separation of ‘ownership and control’. Since the early 1990s, the governance of listed companies has been dominated by self-regulatory codes (currently the UK Corporate Governance Code). This chapter examines how these codes operate and considers key themes in corporate governance, including the role of non-executive directors and auditors; the position of institutional investors; and executive remuneration.

scholarly journals The benefits of good corporate governance to small and medium enterprises (SMEs) in South Africa: A view on top 20 and bottom 20 JSE listed companies

2017 ◽  
Vol 15 (4) ◽  
pp. 271-279
Author(s):  
Radebe M. Sarah
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
Good Governance ◽  
Small And Medium Enterprises ◽  
Financial Statements ◽  
Business Practices ◽  
Bottom Line ◽  
Good Corporate Governance ◽  
Long Run ◽  
Medium Enterprises

Good corporate governance has been attributed to many large organizations’ success. From the boardroom to the triple bottom line, it has been hailed as one powerful tool that brought about sustainability of these organizations in this competitive era. While this is beneficial to large organizations, small and medium enterprises (SMEs) can glean on such experiences to add their value to their companies which, in the long run could bring about new markets and improved business practices which can be ground breaking in their daily business dealings. Thus, if with the introduction of the King Report on good governance, competitive advantage is improved, SMEs are in a good position to sustain their businesses in turbulent economic conditions. This article is aimed at exploring the benefits with which good corporate governance can yield to top and bottom JSE listed SMEs in South Africa. A desktop method was used to analyze the financial statements of these SMEs companies with the view to gain understanding on their corporate governance activities and how well they benefit them. The findings show that good corporate governance is beneficial to SMEs.

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