Mandatory versus Discretionary Rule Dichotomy in the Harmonization of Corporate Governance Codes: Lessons for Nigeria

Ajibo, Collins C.; Ajibo, Kenneth I

doi:10.1017/s0021855319000287

Cited by 8 publications

(10 citation statements)

References 60 publications

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“…Zadkovich describes this approach as a blend of both mandatory hard law and voluntary soft law in a corporate governance regime. This approach is also supported by (Ajibo & Ajibo, 2019) when it describes an ideal approach to corporate governance as one which adopts a combination of a flexible 'comply or explain' approach with a mandatory regime. They further posit that this approach is most appropriate as it allows for optimization of the benefits of both the voluntary and mandatory approaches.…”

Section: Hybrid Approachmentioning

confidence: 99%

“…Nigeria operates a seemly principle-based voluntary code of corporate which is provided for in the NCCG 2018 and a rule-based mandatory law under CAMA 2020. Ajibo and Ajibo (2019) describe it as a fusion of Anglo-American and German models of corporate governance. The aforementioned study also referred to this approach as the hybridization of both soft law and hard law to deliver the best benefits of corporate governance to users.…”

Section: Hybrid Approachmentioning

confidence: 99%

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Approaches to the Application of Corporate Governance Regulations

Ekundayo

Sodipo

2022

S&S

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To enhance good corporate governance practices, companies, as well as countries, have adopted and promulgated regulations and codes of best practices. To implement these regulations and practices, regulators adopt various approaches which can be broadly classified into voluntary, mandatory, and hybrid. This study examined the aforementioned approaches with particular attention to their strengths and weaknesses. The study employed a qualitative methodology using the doctrinal research method. The doctrinal method relied on primary and secondary sources. The primary sources included legislations and corporate governance codes while the secondary sources included books, e-books, journals, and articles. This methodology was deployed in appraising, interpreting, and applying these various sources of material used in the study. The study found that there are different variations and modifications to the approaches to the application of corporate governance regulations and practices. To facilitate a more efficient and effective corporate governance regime, a combination of the rule-based and principle-based approaches to the application of corporate governance is required.

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Section: Hybrid Approachmentioning

confidence: 99%

Section: Hybrid Approachmentioning

confidence: 99%

Approaches to the Application of Corporate Governance Regulations

Ekundayo

Sodipo

2022

S&S

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“…The full, timely and accurate disclosure of information is intertwined with sound corporate governance necessary for transparent accounting processes and effective accountability of management and board members to shareholders (Ajibo and Ajibo, 2019;Zamir and Ayres, 2020). This ensures that what is disclosed provides a true and complete picture of the issuer, issued securities and the overall company performance to enable investors rationally appraise the situation before investing.…”

Section: Regulation Of Public Issuersmentioning

confidence: 99%

Legal and institutional frameworks for capital market regulation in Nigeria: recasting the agendas beyond compliance-based regulation

Nwosu

Ajibo

Nwoke

et al. 2021

JFC

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Purpose The purpose of the paper is to explore the legal and institutional frameworks for optimal regulation of capital market beyond compliance-based regulation, to enable the market to deliver on its strategic role as the enabler of efficient allocation of resources and economic growth. Design/methodology/approach The paper relies on doctrinal approach to assess the existing regulatory approaches and prospects for the future. Findings The paper found that the regulatory authorities unduly concentrate on compliance-based and sanction-based regimes without sufficient emphasis on innovations and transformative solutions that foster diversification and efficiency in the market. The paper also found that the deployment of innovations and transformative solutions complemented with robust regulation is positively correlated with capital market growth. Originality/value The paper offers fresh insights on the optimal approaches to regulation of capital market that transcend compliance-based and sanction-based regimes to reliance on innovative tools that expand, diversify and effectuate the functionality and utility of capital market.

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“…To enhance their corporate sustainability [1][2][3][4], companies should be connected with a first-rate operational and trustworthy logistics system. Integrating corporate governance systems may generate equal opportunities for businesses by consolidating financial and economic networking.…”

Section: Corporate Sustainabilitymentioning

confidence: 99%

Sustainability Management and Performance in the Urban Corporate Economy: A Systematic Literature Review

et al. 2020

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In this article, we cumulate previous research findings indicating that organizations advance to superior phases of environmental management development in order to attain corporate sustainability by the use of participative decision-making. We contribute to the literature on corporate sustainability management and performance by showing that the correlation between sustainable development governance, organizational knowledge, sustainable organizational development, and corporate sustainability, which shapes corporate environmental and sustainability management. Throughout June 2020, we conducted a quantitative literature review of ProQuest, Scopus, and the Web of Science databases, with search terms including “corporate sustainability”, “corporate sustainability management”, “corporate sustainability performance”, “sustainability reporting”, “sustainable supply chain management”, “sustainable corporate development”, and “environmental management systems”. As we inspected research published exclusively in the past two years, only 338 articles met the eligibility criteria. By eliminating the findings that were questionable, unsubstantiated by replication, or too general, and due to space limitations, we selected 93, mainly empirical, sources. Future research should investigate whether corporate governance systems, through organizational sustainability practices and performance reporting, can shape operational environmental sustainability and sustainable organizational culture.

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Mandatory versus Discretionary Rule Dichotomy in the Harmonization of Corporate Governance Codes: Lessons for Nigeria

Cited by 8 publications

References 60 publications

Approaches to the Application of Corporate Governance Regulations

Approaches to the Application of Corporate Governance Regulations

Legal and institutional frameworks for capital market regulation in Nigeria: recasting the agendas beyond compliance-based regulation

Sustainability Management and Performance in the Urban Corporate Economy: A Systematic Literature Review

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