Compliance with capital markets authority corporate governance guidelines: a survey of companies listed at the Nairobi Stock Exchange
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Date
2007Author
Ng'ang'a, Patrick M
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
In the past one and a half decades there has been a clamour for good corporate
governance from investors regulatory authorities and the government aimed at
ensuring proper exercise of the corporate power and safeguard shareholders
interest. The clamour has further been fuelled by high profile corporate failures
in the recent past. This clamour has brought about various codes and guidelines
all aimed at ensuring proper corporate governance. In Kenya the Capital
Markets Authority (CMA) together with other organisations have been at the
forefront of ensuring good governance especially for companies quoted at the
Nairobi Stock Exchange. It is in line with this that CMA in the year 2002,
developed guidelines on corporate governance for companies quoted at the
Nairobi Stock Exchange.
The study seeks to determine whether companies quoted at the Nairobi Stock
Exchange comply with the Capital Markets Authority guidelines on corporate
governance issued in the year 2002.
The data for the study was collected through the use of a self-administered
questionnaire and from annual reports and accounts of the companies and
publications from the Nairobi Stock Exchange. The data was analysed and
presented using descriptive statistics and content analysis.
The findings of the survey are that the Capital Markets Authority corporate
governance guidelines already attain a high degree of acceptance. There is no
company that totally rejects the guidelines. There was however found to be a
low level of compliance with regard to disclosures and there is therefore need
to encourage or enforce more disclosures.
Citation
Masters Of Business Administration (MBA) Degree, University of NairobiPublisher
University of Nairobi School of Business
Description
A management research project submitted in
fulfillment of the requirements of the Degree of
Master of Business Administration, (MBA), School Of
Business, University Of Nairobi