Investigation into the Adherence to Corporate Governance in Zimbabwe’s SME Sector
By Maxwell Mago
()
About this ebook
This book scruitinizes the corporate governance practices in small to medium enterprises in Zimbabwe, with the intention of identifying any loop-holes and recommend measures for improvement.
Related to Investigation into the Adherence to Corporate Governance in Zimbabwe’s SME Sector
Related ebooks
Audit Risk Alert: Employee Benefit Plans Industry Developments, 2018 Rating: 0 out of 5 stars0 ratingsFraud Risk Assessment: Building a Fraud Audit Program Rating: 0 out of 5 stars0 ratingsElectronic Signature A Complete Guide - 2019 Edition Rating: 0 out of 5 stars0 ratingsCompliance Reports A Complete Guide - 2020 Edition Rating: 0 out of 5 stars0 ratingsRisk Based Internal Audit A Complete Guide - 2020 Edition Rating: 0 out of 5 stars0 ratingsFraud Prevention A Complete Guide - 2019 Edition Rating: 0 out of 5 stars0 ratingsExam Prep for:: Us Gourmet Food Distributors Directory Vol 6 Rating: 0 out of 5 stars0 ratingsCorporate Mergers and acquisitions Complete Self-Assessment Guide Rating: 0 out of 5 stars0 ratingsThe outsourcing of legal services Rating: 0 out of 5 stars0 ratingsThe Handbook of Employee Benefits: Health and Group Benefits 7/E Rating: 1 out of 5 stars1/5Chief risk officer A Complete Guide - 2019 Edition Rating: 0 out of 5 stars0 ratingsInvestment policy statement Second Edition Rating: 0 out of 5 stars0 ratingsPersonal Data Protection A Complete Guide - 2020 Edition Rating: 0 out of 5 stars0 ratingsCompliance Programs A Complete Guide - 2019 Edition Rating: 0 out of 5 stars0 ratingsCompliance Processes A Complete Guide - 2021 Edition Rating: 0 out of 5 stars0 ratingsRisk Management Strategy A Complete Guide - 2019 Edition Rating: 0 out of 5 stars0 ratingsAudit and Review Complete Self-Assessment Guide Rating: 0 out of 5 stars0 ratingsThe Four Walls: Live Like the Wind, Free, Without Hindrances Rating: 5 out of 5 stars5/5#Myprivacy #Myright: Protect It While You Can Rating: 5 out of 5 stars5/5Audit and Accounting Guide: Property and Liability Insurance Entities 2018 Rating: 0 out of 5 stars0 ratingsCompliance Manager Complete Self-Assessment Guide Rating: 0 out of 5 stars0 ratingsRegulatory and Compliance Risk Second Edition Rating: 0 out of 5 stars0 ratingsInternal Audits A Complete Guide - 2021 Edition Rating: 0 out of 5 stars0 ratingsCorporate Social Responsibility (CSR): an International Marketing Approach Rating: 0 out of 5 stars0 ratingsWiley Not-for-Profit GAAP 2017: Interpretation and Application of Generally Accepted Accounting Principles Rating: 0 out of 5 stars0 ratingsDue Diligence in China: Beyond the Checklists Rating: 0 out of 5 stars0 ratingsGDPR A Complete Guide - 2021 Edition Rating: 0 out of 5 stars0 ratingsTransplant Administration Rating: 5 out of 5 stars5/5Chief Innovation Officer A Complete Guide - 2019 Edition Rating: 0 out of 5 stars0 ratings
Business Development For You
Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of The Rating: 4 out of 5 stars4/5Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Rating: 4 out of 5 stars4/5The Hard Truth About Soft Skills: Soft Skills for Succeeding in a Hard Wor Rating: 3 out of 5 stars3/5Built to Last: Successful Habits of Visionary Companies Rating: 4 out of 5 stars4/5Ultralearning: Master Hard Skills, Outsmart the Competition, and Accelerate Your Career Rating: 4 out of 5 stars4/5Good to Great: Why Some Companies Make the Leap...And Others Don't Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5Summary of Graham Cochrane's How to Get Paid for What You Know Rating: 0 out of 5 stars0 ratingsThe Bezos Letters: 14 Principles to Grow Your Business Like Amazon Rating: 5 out of 5 stars5/5The E-Myth Contractor: Why Most Contractors' Businesses Don't Work and What to Do About It Rating: 4 out of 5 stars4/5The Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream Rating: 5 out of 5 stars5/5Fear Less: Face Not-Good-Enough to Replace Your Doubts, Achieve Your Goals, and Unlock Your Success Rating: 5 out of 5 stars5/5This Shit Works: A No-Nonsense Guide to Networking Your Way to More Friends, More Adventures, and More Success Rating: 0 out of 5 stars0 ratingsHow to Start a Business for Beginners: A Complete Guide to Building a Successful & Profitable Business Rating: 5 out of 5 stars5/5Nolo’s Guide to Single-Member LLCs: How to Form & Run Your Single-Member Limited Liability Company Rating: 0 out of 5 stars0 ratingsThe Moneyless Man: A Year of Freeconomic Living Rating: 4 out of 5 stars4/5The $100 Startup by Chris Guillebeau: Summary and Analysis Rating: 4 out of 5 stars4/5The 30 Laws of Flow: Timeless Principles for Entrepreneurial Success Rating: 5 out of 5 stars5/5The Magic of Tiny Business: You Don’t Have to Go Big to Make a Great Living Rating: 4 out of 5 stars4/5Hard Asks Made Easy: How to Get Exactly What You Want Rating: 0 out of 5 stars0 ratingsGood To Great And The Social Sectors: A Monograph to Accompany Good to Great Rating: 4 out of 5 stars4/5The Attitude Is Everything Workbook: Strategies and Tools for Developing Personal and Professional Success Rating: 4 out of 5 stars4/5Power: Why Some People Have It—and Others Don't Rating: 4 out of 5 stars4/5Buy, Grow, Exit: The ultimate guide to using business as a wealth-creation vehicle Rating: 4 out of 5 stars4/5Freelance to Freedom: The Roadmap for Creating a Side Business to Achieve Financial, Time and Life Freedom Rating: 5 out of 5 stars5/5The Consulting Bible: How to Launch and Grow a Seven-Figure Consulting Business Rating: 3 out of 5 stars3/5
Reviews for Investigation into the Adherence to Corporate Governance in Zimbabwe’s SME Sector
0 ratings0 reviews
Book preview
Investigation into the Adherence to Corporate Governance in Zimbabwe’s SME Sector - Maxwell Mago
Investigation into the Adherence to Corporate Governance in Zimbabwe’s SME Sector
by
Maxwell Mago
A Dissertation submitted in Partial Fulfillment of the Requirements for the Masters Degree in Business
Administration
2016
Graduate School of Management
University of Zimbabwe
DECLARATION
I, ....................................................,do hereby declare that this dissertation is a result of my own investigation and research, except to the extent indicated in the Acknowledgements, References and comments included in the body of the report, and that it has not been submitted in part or in full for any other degree to any other university.
.................................... ...........................
Student Signature Date
....................................... ................................
Supervisor Signature Date
ACKNOWLEDGEMENTS
First, I would like to thank God for protecting me throughout my Masters in Business Administration studies at the University of Zimbabwe. I am grateful of the support rendered by my family, especially my wife Caroline, and colleagues during the course of my study of the tasking MBA program.
My gratitude also extends to Dr Maravanyika, affectionately known to MBA students as Denmara, who assisted me in putting this dissertation together. I am thankful for his time, unwavering support and the knowledge that he imparted to me, plus the study material he offered.
I would also like to thank the staff from the SME organizations and ZIMRA for partaking their time participating in the interviews, providing me with the necessary information for carrying out this research. My gratitude extends to the Graduate School of Management lecturers and staff for the profound knowledge that I have gained over the past two years.
ABSTRACT
Corporate governance (CG) is the stewardship responsibility of corporate directors to provide a befitting oversight for the fulfilment of the goals and strategies of a company, on behalf of all its stakeholders. Its objectives include the achievement of the trust of stakeholders in the governance of the firm, transparency, amicable resolution of crisis and maintenance of CG practices. The purpose of this study was to investigate the adherence to CG in Zimbabwe SMEs. Many researches in CG practices through literature and other academic platforms focused in other parts of the globe, with a few exceptions on Sub-Saharan Africa. They also concentrated in large and/or stock exchange listed and multinational companies, remaining silent on SMEs operating in developing countries like Zimbabwe. This cross-case study used a qualitative survey design. The survey was conducted on four SME organizations chosen from a short list of twenty such firms provided by the relevant government Ministry, using judgmental sampling procedure. Questionnaire guides, with semi-structured and open-ended questions were employed in collecting data which was qualitatively analyzed using data display tables. The results indicate that there is lack of strict adherence to CG principles in Zimbabwe SMEs. These findings have implications to owners and managers of SMEs in Zimbabwe who are advised to: restructure their firm engagements with stakeholders to go beyond marketing so as to improve their loyalty, involvement and guidance; adequately source funding for setting up and maintaining properly regulated boards for safeguarding accountability and enforce meeting responsibilities; educate the powers that be to improve their appreciation of the roles of boards of directors in engaging proper governance practices; and adopt, align and monitor compliance with some specifically adopted particular CG code for meeting CG practices.
Key words: Corporate governance, stakeholders, transparency, adherence, SMEs, cross-case study.
TABLE OF CONTENTS
Declaration .................................................................................................ii
Acknowledgements ....................................................................................iii
Abstract ....................................................................................................iv
List of tables .............................................................................................viii
List of figures .............................................................................................ix
CHAPTER 1: INTRODUCTION AND BACKGROUND........................................1
1.0 Introduction .......................................................................................1
1.1 Background .......................................................................................4
1.2 Problem Statement ..............................................................................5
1.3 Research Objectives .............................................................................6
1.4 Research Questions ..............................................................................6
1.5 Research Proposition .............................................................................7
1.6 Significance .......................................................................................7
1.7 Limitations .......................................................................................8
1.8 Scope ..............................................................................................8
1.9 Structure of the research ....................................................................... 8
1.10 Chapter Conclusion .............................................................................9
CHAPTER 2: LITERATURE REVIEW ............................................................9
2.0 Introduction ......................................................................................9
2.1 Stewardship .....................................................................................10
2.2 Monitoring .......................................................................................12
2.3 Governance codes ............................................................................13
2.4 Board regulation ................................................................................15
2.5 Conceptual framework .........................................................................17
2.6 Literature Conclusion and established gap in literature ...................................18
CHAPTER 3: RESEARCH METHODOLOGY ................................................19
3.0 Introduction .....................................................................................19
3.1 Research design .................................................................................20
3.2 Research philosophy ...........................................................................20
3.3 Research strategy ...............................................................................22
3.4 Data collection ..................................................................................23
3.4.1 Population .......................................................................................23
3.4.2 Sampling strategy ..............................................................................24
3.4.3 Research instruments ..........................................................................24
3.5 Data analysis ...................................................................................26
3.6 Validity and reliability ........................................................................26
3.7 Limitations .....................................................................................27
3.8 Ethical considerations .........................................................................27
3.9 Chapter Conclusion ...........................................................................27
CHAPTER 4: RESULTS AND DISCUSSION ..................................................28
4.0 Introduction .....................................................................................28
4.1 Key respondents ...............................................................................28
4.2 Information gathering .........................................................................29
4.2.1 Section A: Background of respondents .....................................................29
4.2.2 Section B: Cultivation of stakeholder concerns ...........................................30
4.2.3 Section C: Activities towards meeting monitoring regulations .........................35
4.2.4 Section D: Alignment to Corporate Governance codes ..................................38
4.2.5 Section E: Maintenance of board regulations .............................................41
4.3 Summary of findings ..........................................................................45
4.4 Chapter Conclusion .............................................................................45
CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS ............................46
5.0 Introduction ....................................................................................46
5.1 Research findings restated ....................................................................46
5.2 Conclusions ....................................................................................46
5.2.1 Stewardship influences on CG in Zimbabwe SMEs ......................................47
5.2.2 Monitoring effects on CG in Zimbabwe SMEs ...........................................47
5.2.3 Governance codes reflection on CG in Zimbabwe SMEs ...............................47