Adebayo, Adeyemi
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Comparing corporate governance practices of state-owned enterprises (SOEs) in South Africa and Singapore Adebayo, Adeyemi; Ackers, Barry
Journal of Accounting and Investment Vol 23, No 1: January 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (551.787 KB) | DOI: 10.18196/jai.v23i1.13830

Abstract

Research aims: This paper undertakes a cross-country comparative analysis of corporate governance of state-owned enterprises (SOEs) in South Africa and Singapore, two countries using two different models for organising SOEs, with specific reference to agreement with the themes identified in the World Bank’s Framework for good Corporate Governance practices for SOEs. The aim of this paper is to identify differences and similarities in practice and to document how the states have fared using different models.Design/Methodology/Approach: The paper deploys a pragmatic mixed methods approach conducted in two phases, to understand the practices utilised by South African and Singaporean SOEs. The data emerging from these two phases, were compared to the Framework for good Corporate Governance practices for SOEs issued by the World Bank.Research findings:  Findings suggest although South African SOEs have good corporate governance practices in place, Singaporean SOEs are better organised and governed compared with South African SOEsTheoretical contribution/Originality: This paper contributes to the scholarly discourse on SOEs in by expanding the discourse on public sector entrepreneurship and opening up new debates and research areas corporate governance of SOEs.
GOVERNANCE OF AFRICAN STATE-OWNED ENTERPRISES (SOEs) – TOWARDS AGENDA 2063 Ackers, Barry; Adebayo, Adeyemi
Accounting Profession Journal (APAJI) Vol. 4 No. 2 (2022): Accounting Profession Journal (APAJI)
Publisher : Program Studi Akuntansi Fakultas Ekonomi dan Bisnis Universitas Kristen Indonesia Paulus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35593/apaji.v4i2.46

Abstract

Following centuries of institutionalised colonialism, Africa continues failing to drive socioeconomic growth and prosperity. Although the vestiges of Africa’s colonial legacy have certainly contributed to this malaise, Africa cannot continue blaming colonialism for its failure to develop. To reverse the downward spiral and provide the platform to achieve the goals of the African Union’s Agenda 2063, requires a return to Africa’s primary Ubuntu[1] values. Africa must accept that it can no longer remain passive participants, simply providing raw materials for beneficiation by the Global North. State-owned enterprises (SOEs), governed according to sound corporate governance principles, can contribute to sustainable socioeconomic development. Not only enhancing their transparency and accountability, but also positioning them to constructively contribute to achieving the Agenda 2063 aspirations. To understand the extent to which sound corporate governance practices can contribute to SOE effectiveness, a qualitative research approach thematically analyses the disclosures contained in the publicly available annual reports of purposively selected SOEs, in predetermined countries across each of Africa’s nine regional economic communities. The extent of conformance with established corporate governance practices is calculated using a disclosure index developed from global corporate governance frameworks. [1] Ubuntu is a Nguni word representing the core African values, such as respect for all humans, human dignity, sharing, obedience, humility, solidarity, caring, hospitality, interdependence and communalism (Sambala, et al., 2020).