Most of the prior corporate governance research is based in an Anglo-Saxon setting with the result that we know very little about the history, application and consequences of corporate governance (or the lack thereof) in Africa. This is true even for South Africa despite its status as one of the largest and most developed capital markets in Africa.
There has been some research on the political and institutional forces which have contributed to the development of codes on corporate governance in South Africa. The evolution of African governance has also been touched on. Research by Harvey Pamburai, Chamisa and Ntim et al. confirms that the relationship between good governance and firm value documented by the international literature holds in a South African setting. The link between corporate governance and corporate social responsibility has also been considered, although to a lesser extent.
This project complements the prior South African-specific research. It provides a detailed account of the history of corporate governance in South Africa, which draws on both the academic literature and South Africa’s codes of best practice.
At the same time, it provides the first accounts of corporate governance in South Africa over an extended period (1994-2018) and an analysis of the similarities and differences in King Codes. This includes a review of some of the most recent trends in South African corporate governance, a review of the internal and external factors which influence governance practices and preliminary evidence of the benefits of good governance.
- Findings from this ongoing project have been published in a full-length book forming part of the De Gruyter Studies in Corporate Governance. The book is available here.
- A related publication, Assurance, Risk and Governance deals with the audit of financial statements