The code of corporate governance in Nigeria: efficiency gains or social legitimation
Journal Publication ResearchOnline@JCUAbstract
This paper is the first study which examines the rationale behind the adoption of corporate governance codes, the requirements of the codes and their operationalisation, and the effectiveness of the codes in addressing corporate governance abuses in the turbulent and endemically corrupt environment of sub Saharan Africa (Nigeria). It examines the extent to which the adopted Codes of Corporate Governance is as a result of international pressures or internally driven by the need for effective accountability to the shareholders, in a way which addresses the peculiar problems of corporate governance in Nigeria. Through the theoretical lens of efficiency gains and social legitmation, the paper found that the Code of Best Practices for Corporate Governance in Nigeria is driven more by social legitimacy pressures while the Code of Corporate Governance for Banks in Nigeria Post Consolidation, developed by the CBN, is predominantly aimed at pursuing efficiency gains.
Journal
Corporate Ownership and Control
Publication Name
N/A
Volume
9
ISBN/ISSN
1810-3057
Edition
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Issue
3
Pages Count
14
Location
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Publisher
Virtus Interpress
Publisher Url
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Publisher Location
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Publish Date
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Url
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Date
N/A
EISSN
N/A
DOI
10.22495/cocv9i3c2art4