scholarly journals King IV municipal supplements: the impact on the municipal’s approach to governance

2021 ◽  
Vol 26 ◽  
pp. 54-64
Author(s):  
Richard Chauke
Keyword(s):  
Good Governance ◽  
Standard Of Care ◽  
Effective Control ◽  
Implementation Framework ◽  
Effective Governance ◽  
Adoption And Implementation ◽  
Essential Services ◽  
Governance Practices ◽  
Governance Roles ◽  
The Impact

In using King IV municipal supplement as a conceptual framework, this paper critically analyses the King IV supplement implementation and control system within the municipal sector. For the municipality to be trusted and accountable to the public, it needs to implement effective governance processes. The observance of municipal governance implementation framework poses a significant challenge for the municipalities. The prevalence of unsuccessful provision of essential services and unsuccessful audit is an indication of the failure by municipal boards that are charged with the implementation of effective governance practices. It is further indicative of the municipal board not to understanding their governance roles fully. The advent of King IV municipal supplement will give more impetus to the implementation of governance framework and effective control processes. The municipal supplement will serve as a guide to proper governance in the municipality and will push for all municipal stakeholders to be involved in the governance of the municipality. The implementation of the King IV municipal supplement will enable the municipality to fulfil the constitutional mandate and deliver on the essential services. It has also become evident that good governance in the municipality is beneficial for stakeholders as a well-governed organization inspires the confidence of the stakeholders and lowers the cost of its operations. Even though King IV is not law, the governance outcome that it can achieve are laudable. The adoption and implementation King IV code municipal supplements practices will become the criteria by which the required standard of care and appropriate standard of conduct of the council can measured.  

Antitakeover Provisions and Shareholder Wealth: A Survey of the Literature

2014 ◽  
Vol 49 (4) ◽  
pp. 933-956 ◽  
Author(s):  
Miroslava Straska ◽  
H. Gregory Waller
Keyword(s):  
Good Governance ◽  
Empirical Studies ◽  
Shareholder Wealth ◽  
Current Debate ◽  
Firm Characteristics ◽  
Policy Changes ◽  
Governance Practices ◽  
The Impact ◽  
Long Term Studies

AbstractWe survey theoretical and empirical research on antitakeover provisions, focusing on the relation between antitakeover provisions and shareholder value. We divide the empirical studies based upon the evidence that they provide: short-term event studies, studies on performance and policy changes around adopting antitakeover provisions or passing state antitakeover laws, studies on the impact of antitakeover provisions on takeovers, studies on the relation between antitakeover provisions and firm characteristics, and long-term studies on the relation between antitakeover provisions and firm performance or policies. We also discuss the place of antitakeover provisions in the current debate about “good governance” practices.

Trust and governance practices among local leaders

2005 ◽  
Vol 71 (3) ◽  
pp. 405-424 ◽  
Author(s):  
Michiel S. de Vries
Keyword(s):  
Policy Making ◽  
Good Governance ◽  
Local Policy ◽  
Generalized Trust ◽  
Governance Practices ◽  
Administrative Leaders ◽  
Seeking Behavior ◽  
Local Policy Maker ◽  
Past Experiences ◽  
The Impact

This article investigates patterns of generalized trust among local political and administrative leaders. It explains the differences therein and studies the impact of such trust on the inclination to involve people in policy-making processes. The research is based on a survey among approximately 16,000 local administrators and politicians in 665 communities in 18 countries. The findings are analyzed using a multi-level model. It is found that generalized trust among local policy-makers, as a form of low-level risk, can be explained by the judgment about past experiences with public participation, the judgment of the abilities of the constituency and the scope of problems in the community. Regarding the impact of trust on the propensity to involve people in the policy-making process, significant differences are found between old, new and newest democracies. In the old democracies there is hardly a relation between the tendency to seek the support of citizens on the one hand and generalized trust on the other hand. The severity of social problems has in these countries a positive effect on involving citizens. In the new and especially the newest democracies, the relation between trust and support-seeking behavior is significantly stronger. When problems become less urgent in those countries and the local policy-maker does show generalized trust,(s)he is significantly more inclined than his/her colleagues to seek the support of the people. This implies that there might exist a paradox, namely that in order to enhance practices of good governance, claiming these are more effective, one already needs a society in which policy-making is relatively effective and that has adequate problem-solving capacity.

scholarly journals Thy Governance Matters: A Study on Governance Practices of Stock Exchanges in India

2021 ◽  
Vol 4 (1) ◽  
pp. 41-54
Author(s):  
Amit Majumder
Keyword(s):  
Organizational Structure ◽  
Insider Trading ◽  
Good Governance ◽  
Stock Exchange ◽  
Effective Control ◽  
Stock Exchanges ◽  
Outside Directors ◽  
Global Pattern ◽  
Governance Practices ◽  
Set Up

Historically the responsibility of ushering the practices of good governance, transparent management and effective control process for the corporate houses rests under the jurisdiction of those stock exchanges where the shares of the companies are listed. However, the very question of the management and governance of these stock exchange houses are always under the scanner across the globe in view of the limitations of their historic pattern of member-owned ‘non-profit’ kind of mutual organizational structure. The lacunae of that typical organizational structure was that their activities are primarily targeted towards members interests as well as that set up was not immune fully from the malice like insider trading and conflict of interest for office bearers and traders. In view of this following the global pattern the Union Government of India had decided for corporatization of stock exchanges thereby creating a separation of ownership, management and trading membership of stock exchanges which is formally known as demutualization and corporatization of stock exchanges. A committee was set up by the SEBI under the chairmanship of Justice M.H. Kania which had submitted the report in 2002 recommending corporatizations and demutualization of stock exchanges which become mandatory for every stock exchange in India to implement within a stipulated period of time. Against this backdrop the present study is conducted to make an overview of the present state of governance affairs of major stock exchanges in India. It has been observed that the corporatization and governance practices of the major bourses in India had followed governance practices like separation of the post of chairman and CEO, inclusion of public interest directors as outside directors in the board, adherence to code of conducts for directors, organizing frequent meetings of directors etc.

scholarly journals Being Accountable and Resultant Stakeholder Confidence in the Era of the Decolonisation of the University

2019 ◽  
Vol 4 (1) ◽  
pp. 24
Author(s):  
Felix Omal
Keyword(s):  
Higher Education ◽  
South African ◽  
Good Governance ◽  
Effective Governance ◽  
Black South African ◽  
Documentary Sources ◽  
Institutional Values ◽  
Governance Practices ◽  
Institutional Contexts ◽  
The University

Today's higher education landscape can best be described as unpredictability. This places university governing councils in critical places to begin to think deeply in terms of forms positionality to provide effective governance. For instance, in the South African higher education scenario currently, there are urgent calls for university decolonisation as such university governing bodies have to show that they are on top of the game through demonstrating to their stakeholders that have in place a responsive habitus that supports stakeholder accountability and confidence in these times. This paper examines the relationship between stakeholder accountability and confidence in institutional values that underpin effective governance. Consequently, this paper was developed from a research project that looked at the role of the university councils in bringing about good governance in the former historically black South African universities grappling with such institutional realities. Utilizing the notion of micro-politics developed from the concept of cultures derived from a multi-theoretical approach, the paper examines the framing of good university governance by governing bodies. Data for this study was collected from institutional documentary sources in the public domain, interviews and surveys. This paper ends with suggestions of governance practices that would assist the university councils grappling with such institutional contexts to provide good governance and possibilities for further research.

scholarly journals The Impact of Family Governance on the Sustainability and Continuity of Family Businesses in Botswana

2019 ◽  
Vol 11 (4) ◽  
pp. 113
Author(s):  
Ruramayi Tadu ◽  
Douglas Chiguvi
Keyword(s):  
Board Of Directors ◽  
First Generation ◽  
Positive Relationship ◽  
Good Governance ◽  
Family Businesses ◽  
Effective Governance ◽  
Family Governance ◽  
And Control ◽  
The Impact ◽  
The Relationship

Academic discussion on corporate governance and its related issues are clearly visible in any country with active capital markets. This suggests that good governance is a crucial factor for ensuring economic development. Of concern is the lack of continuity after the first generation of ownership and control. However, few studies can be found relating to smaller family businesses. With the aim of contributing to this knowledge gap, this study aimed at identifying the impact of family governance on the sustainability and continuity of family businesses in Botswana. A sample of 144 family-owned businesses based in Gaborone and Francistown participated in the study. Pearson r correlation was used to measure the relationship between the variables of the study. The results showed that there is a weak positive relationship between family governance and the sustainability and continuity of family businesses in Botswana. It was recommended that mechanisms must be put in place in order to enlighten the benefits of having Board of Directors and to implement effective governance structures and systems to sustain the businesses in the market beyond generations.

Toxic Political Leadership and the Problems of Professionals in Free State Municipalities

2019 ◽  
Vol 48 (1) ◽  
Author(s):  
David Matheakuena Mohale
Keyword(s):  
Good Governance ◽  
Political Leadership ◽  
Primary Source ◽  
Free State ◽  
Audit Report ◽  
Theoretical Understanding ◽  
Number Of Factors ◽  
Auditor General ◽  
Appointed Officials ◽  
The Impact

The 2016–17 Audit Report by the Auditor General points to the deterioration in audit results of South African municipalities. This deterioration confirms the perennial dysfunctionality of municipalities, at least from the governance perspective. Corporate governance is a function of leadership. Municipal councils are, therefore, responsible for the overall performance of municipalities they lead. Sound regulatory framework, good plans, clear strategies, policies, and systems are inadequate if not supported by highly gifted and ethical leadership. The Auditor General’s Audit Report suggests that local government struggles the most in the area of ethics. The Principal-Agent Theory argues that appointed officials are more likely to subvert the interests of an organisation. However, this article argues that the primary source of problems in municipalities is a combination of ineptitude and unethical political leadership taking root. This conclusion is based on the empirical comparative cases of eight municipalities in the Free State Province.  The conduct of councillors makes it difficult to attract and retain professionals in municipalities, resulting in notable deficiencies in the delivery of services. Essentially, councillors are the root cause for governance failure in municipalities arising from a number of factors. Findings in this study contribute towards the understanding of the impact of leadership in the failure of municipalities to meet good governance and developmental objectives. Further, they deepen the theoretical understanding of the political-administrative interface.

Board Effectiveness: An Evaluation based on Corporate Governance Score

Think India ◽  
2015 ◽  
Vol 18 (1) ◽  
pp. 16-23
Author(s):  
Hitesh Shukla ◽  
Nailesh Limbasiya
Keyword(s):  
Corporate Governance ◽  
Good Governance ◽  
Sustainable Growth ◽  
Governance Mechanism ◽  
Minority Shareholders ◽  
Effective Governance ◽  
Performance Orientation ◽  
Corporate Governance Mechanism ◽  
And Performance ◽  
Ethical Governance

Growth, progress, and prosperity of any country depend highly on the corporate governance mechanism of that country. Good governance of a country helps it to sustainable growth and consistency in progress. The good governance should contribute towards the improvement in transparency, ethics, morality, and disclosure. The principles of good governance stand on honesty, trust, integrity, openness, and performance orientation. Our honorable Prime Minister Narendra bhai Modi had given the three E for good governance during his speech on Independence Day i.e. Effective Governance, Electronic Governance, and Ethical Governance. The fundamental concern of corporate governance mechanism is to ensure the protection of minority shareholders/owners of specific firms. Mechanism of a corporate governance specifies the relations among the shareholders, board of directors, and managers. The present paper is an attempt to evaluate the effectiveness of the board by calculating the corporate governance score. The mandatory and non-mandatory guidelines have been considered while assigning points to specific parameters of the corporate governance.

Relationship between Code of Corporate Governance and Corporate Financial Performance (An Empirical Study of Food Companies Listed on KSE)

GIS Business ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 01-09
Author(s):  
Asma Rafique Chughtai ◽  
Afifa Naseer ◽  
Asma Hassan
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Securities And Exchange Commission ◽  
Executive Directors ◽  
Agency Conflicts ◽  
Cross Sectional ◽  
Return On Equity ◽  
Governance Practices ◽  
Code Of Corporate Governance ◽  
The Impact

The crucial role that implementation of Code of Corporate Governance plays on protecting the rights of minorities, shareholders, local as well as foreign investors cannot be denied. Companies all over the world are required to implement their respective Code of Corporate Governance for avoiding agency conflicts between companies management and stakeholders and for assuring transparency in accountability. This paper aims at exploring the impact of implementation of corporate governance practices (designed by Securities and Exchange Commission of Pakistan) have on the financial position of companies. For explanatory variables of the study, composition of the board as per the Code of Corporate Governance that comprises of presence of independent, executive and non-executive directors has been taken into consideration. Return on equity has been taken as an indicator of firms profitability i.e. the dependent variable. For this study, companies listed on food producing sector of Karachi Stock Exchange have been screened for excogitation of the relationship. It is an empirical research based on nine years data from 2007–2015. Using Hausman Test for selecting the data analysis technique between Fixed or Random, Fixed Cross Sectional Panel Analysis has been used for analysis of the data collected. Findings indicate that presence of independent, executive and non-executive directors as per the code requirements levies a significant impact on the profitability of companies indicated by return on equity. It is, thus concluded that companies should ensure compliance with code of governance practices to reduce not only the agency issues but also to increase their profitability.

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