Open AccessCorporate Governance Practices in Developing Countries: The Case for Kenya
Author(s) -
Benjamin Mwanzia Mulili,
Peter S.P. Wong
Publication year - 2011
Publication title -
international journal of business administration
Language(s) - English
Resource type - Journals
eISSN - 1923-4015
pISSN - 1923-4007
DOI - 10.5430/ijba.v2n1p14
Subject(s) - corporate governance , developing country , stewardship (theology) , variety (cybernetics) , business , politics , agency (philosophy) , stewardship theory , perspective (graphical) , corporate security , process (computing) , accounting , principal–agent problem , public relations , economics , political science , economic growth , sociology , finance , social science , artificial intelligence , computer science , law , operating system
This paper examines the concept of corporate governance from a historical perspective. The paper explores how the agency theory and stewardship theory affect corporate governance practices. The focus of the paper is on public universities in Kenya. An extensive review of literature indicates that the ideals of good corporate governance have been adopted by developing countries since the 1980s. Developing countries differ from developed countries in a wide variety of ways. Therefore, there is need for developing countries to develop their own corporate governance models that consider the cultural, political and technological conditions found in each country. This paper explores the challenges encountered by developing countries in the process of adopting the corporate governance ideals. The authors have identified knowledge gaps in corporate governance that can form the basis for future research projects