Corporate governance regulation in Nigeria

Adegbite, Emmanuel (2012) Corporate governance regulation in Nigeria. Corporate Governance: The International Journal of Business in Society, 12 (2). pp. 257-276. ISSN 1472-0701

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Abstract

Purpose – Whilst taking Nigeria's peculiar institutional configurations into consideration, this paper aims to critically evaluate the Nigerian corporate governance regulatory system, which is characterised by endemic corporate corruption, and to explore how regulatory policy responses can be strategically formulated to ensure corporate vitality and prevent market failures. The paper investigates the antecedents of effective corporate governance regulation in Nigeria.

Design/methodology/approach – This paper employs research method triangulation in order to provide an informative and comprehensive account. The following data collection methods were employed to conduct a survey of corporate governance professionals in academia, in practice (including board directors, managers, current and former CEOs and chairmen across different industries, as well as members of professional accounting and audit associations), and in the Nigerian polity: in-depth interviews, focus groups, direct observations and case studies.

Findings – This study has provided some evidence to support the view that a country's peculiar institutional arrangements influence its predominant model and style of corporate governance regulation. These institutions may be regarded as integral and inseparable constituents of any particular nation, which can either aggregate to facilitate the success of regulatory initiatives and promote good corporate governance or constitute barriers to the implementation of good governance principles.

Originality/value – This paper primarily adds to the literature on corporate governance in sub-Saharan Africa, whilst extending knowledge on the dynamics of corporate governance regulation in different institutional contexts. The paper further points out some transnational challenges, and suggests more caution, in the diffusion of corporate governance regulatory principles across different institutional environments. This further brings to the fore the need for countries to fashion out their corporate governance regulatory strategies in ways which deal with peculiar challenges, albeit within an umbrella of accepted principles of responsible corporate behaviour.

Item Type:	Article
Uncontrolled Keywords:	Corruption, developing countries, good corporate governance, Nigeria, regulation
Subjects:	N300 Finance T500 African studies
Department:	Faculties > Business and Law > Newcastle Business School
Depositing User:	Helen Pattison
Date Deposited:	16 May 2012 10:58
Last Modified:	19 Nov 2019 09:04
URI:	http://nrl.northumbria.ac.uk/id/eprint/7187

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