The influence of corporate failures and foreign law on South African corporate governance

Abstract

This dissertation discusses how South African Corporate Governance has been influenced by corporate failures and foreign law, through comparing international jurisdictions. The dissertation comprises of five chapters, beginning with an introductory Chapter One. The introductory chapter provides a background and sets out the research problem and questions to be answered as well as the methodology used in this study. Chapter Two introduces the concept of corporate governance and is divided into two parts. Part one focuses on principles of good corporate governance as set out by the King Report of 2002 and the Organisation of Economic Co-operation and Development principles of corporate governance. Part Two discusses the importance of corporate governance as it applies to organisations. Part Three considers the different models of corporate governance and where South Africa fits. Chapter three provides case study examples of corporate failures and corporate governance development in both the United Kingdom and the United States of America, to provide an understanding of the negative implications of failing to establish and adhere to corporate governance protocols. In Chapter Four examples are provided relating to corporate failures and corporate governance development in the South African context in particular. Finally Chapter Five summarises the research findings and concludes this dissertation. In addition to highlighting how corporate failures have influenced the development of corporate governance and how these together with foreign law have influenced corporate governance in South Africa, the study recommends that an African-centred approach to corporate governance be adopted in South Africa and the continent.