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Journal cover: Corporate Governance

Corporate Governance

ISSN: 1472-0701

Online from: 2001

Subject Area: Business Ethics and Law

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Corporate governance regulation in Nigeria

Document Information:
Title:Corporate governance regulation in Nigeria
Author(s):Emmanuel Adegbite, (Lecturer in Corporate Governance at Newcastle Business School, Newcastle, UK)
Citation:Emmanuel Adegbite, (2012) "Corporate governance regulation in Nigeria", Corporate Governance, Vol. 12 Iss: 2, pp.257 - 276
Keywords:Corruption, Developing countries, Good corporate governance, Nigeria, Regulation
Article type:Research paper
DOI:10.1108/14720701211214124 (Permanent URL)
Publisher:Emerald Group Publishing Limited
Acknowledgements:Received: July 2010. Revised: December 2010. Accepted: December 2010. This paper majorly constitutes a chapter in Adegbite, E. (2010), “The determinants of good corporate governance: the case of Nigeria”, unpublished PhD thesis, Cass Business School, City University, London.

PurposeWhilst 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/approachThis 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.

FindingsThis 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/valueThis 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.

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