In Quest of Corporate Governance Best Practices by State-owned Enterprises in Zimbabwe

Authors

  • ADMIRE MTHOMBENI Department of Applied Business Sciences, Manicaland State University of Applied Sciences, Zimbabwe Author
  • OBERT SIFILE Department of Accounting and Finance, Chinhoyi University of Technology, Zimbabwe Author
  • MORGEN SITHOLE Department of Accounting and Finance, Chinhoyi University of Technology, Zimbabwe Author
  • MBISI RANGARIRAI Department of Accounting and Finance, Chinhoyi University of Technology, Zimbabwe Author
  • BRONSON MUTANDA Department of Accounting and Finance, Chinhoyi University of Technology, Zimbabwe Author

Keywords:

state owned enterprise performance, Public Entities Corporate Governance Act, corporate scandals, internal control, corporate malfeasance

Abstract

The role played by state-owned enterprises (SOEs) in the delivery of services in the country remains important but the prevalent volatile economic situation that the country is faced with, warrants an investigation of the practices of these entities as corruption becomes rampant in the economic turmoil. The main aim of the study was to investigate the causes of non-compliance with corporate governance best practices by SOEs in Zimbabwe. The study is premised on the argument that lack of accountability in SOEs has led to corruption and mass compensation at the expense of service delivery. The research adopted a quantitative approach with positivist philosophy, while , cross-sectional survey designs in which data were gathered using a structured questionnaire were used. The study found that the remuneration of non-executive members can moderate corporate governance practices. The study reveals that by appointing remuneration committees that looked into the remuneration of both executive and non-executive directors, firm performance and corporate governance practices were enhanced. The study concludes that ineffective board committees are the main cause of noncompliance with best corporate governance practices.

Author Biographies

  • ADMIRE MTHOMBENI, Department of Applied Business Sciences, Manicaland State University of Applied Sciences, Zimbabwe

    Mthombeni Admire is a hold a PhD in Business Management and Entrepreneurship and    currently a Lecturer in the Department of Business Management, Manicaland State University of Applied Sciences. Is a peer reviewer for referred journals. Has research interests in Agribusiness and Agritourism management, corporate governance and entrepreneurship, strategic management as well as family and small business management. To date Admire Mthombeni has over 25 publications that includes book chapters and empirical papers. He has presented at five 5 international conferences. Admire Mthombeni has for over 8 years been a researcher in the Zimbabwe Republic Police whose researches has informed policy making of the Zimbabwe Republic Police and public sector at large. Email 

  • OBERT SIFILE, Department of Accounting and Finance, Chinhoyi University of Technology, Zimbabwe

    Sifile Obert is a professor of management currently in the Department of Finance and Accounting at Chinhoyi University of Technology. Professor Obert Sifile (PhD, MBA, BSc Accounting, FCGAIZ / Formerly FCIS) is currently Coordinator of Doctor of Strategic Management (DSM) at Chinhoyi University of Technology. He is an accounting expert with over 13 years of accounting experience at Executive Level as a Finance Director.He is a seasoned researcher, academic and consultant and has been a consultant for many successful projects in Africa. His Research and Consultancy Areas are Accounting, Corporate Governance, Strategic Management. He has supervised over 50 Post Graduate Students that includes DPhil, MPhil and MSc students.  o

  • MORGEN SITHOLE, Department of Accounting and Finance, Chinhoyi University of Technology, Zimbabwe

    Morgen Sithole is a researcher and academic currently affiliated with the Manicaland State University of Applied Sciences where he is stationed in the Department of Applied Business Sciences. He has published in the domains of Sales and Marketing strategy, Strategic management, Corporate Governance, Digital Marketing and Entrepreneurship.

  • BRONSON MUTANDA, Department of Accounting and Finance, Chinhoyi University of Technology, Zimbabwe

    Bronson Mutanda is a PhD student with University of Kwazulu Natal, South Africa. He is currently a Lecturer in the Department of Business Management, Manicaland State University of Applied Sciences and also works as a Research Assistant at University of KwaZulu Natal, South Africa. Has research interests in SME Financing, Financial Inclusion, Financial Reporting, Informal sector, Financial Sector, Personal Financial Management and Microfinancing. He has vast experience in grant proposal writing that also saw him assisting in the INSETA grant application in South Africa. Email: 

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Published

2024-10-10

Issue

Volume 3, Issues 1 and 2 (2024)

Section

Articles

How to Cite

In Quest of Corporate Governance Best Practices by State-owned Enterprises in Zimbabwe. (2024). Kuveza NeKuumba: The Zimbabwe Ezekiel Guti University Journal of Design, Innovative Thinking and Practice, 3(1 & 2), Pages: 127 - 149. http://journals.zegu.ac.zw/index.php/knk/article/view/181

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