Open AccessThe Guidelines of Corporate Governance of Ghana: Issues, Deficiencies and Suggestions
Author(s) -
Otuo Serebour Agyemang,
Monia Castellini
Publication year - 2013
Publication title -
international business research
Language(s) - English
Resource type - Journals
eISSN - 1913-9012
pISSN - 1913-9004
DOI - 10.5539/ibr.v6n10p163
Subject(s) - corporate governance , globe , clarity , commission , accounting , business , code (set theory) , code of conduct , good governance , best practice , political science , finance , computer science , law , psychology , biochemistry , chemistry , set (abstract data type) , neuroscience , programming language
The worldwide mushrooming of codes of corporate governance has resulted in a formalisation of rules and norms. These rules and norms have undeniably been proven to be important constituents in shaping the present corporate governance structures across the globe. The 2010 Code of best practices for corporate governance issued by the Securities and Exchange Commission of Ghana is an archetypical of such codes. It is irrefutably the most encyclopaedic guideline for good corporate governance practices presently in Ghana. It contains overarching provisions for effective corporate governance practices in Ghana. This paper presents a painstaking review of the code. It first examines key properties of the code. Next, the main deficiencies of the code are illuminated by examining the provisions that lack clarity. Also, other unqualified derelictions, substandard provisions and common gaffes in the code are highlighted. It then makes suggestions with the idea that they would be taken into consideration if future remediation of the code is to be undertaken