Corporate governance: an assessment of the role of directors in implementing good corporate governance in Tanzania: a case study of companies listed on Dar es Salaam stock exchange.
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Date
2004
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Publisher
University of Dar es Salaam
Abstract
Tanzania had parastatal organizations running her economy; many of these organizations have collapsed. Several reasons have been put forward as causes for massive collapse; among those reasons was poor performance of company directors. This study has addressed itself on the role played by directors in implementing good corporate governance specifically focusing on the formalities of selection and appointing of directors, the extent to which directors performed their responsibilities and the extent of transparency and disclosure of credible information in the companies they lead. Case study method was used in carrying out this study. Data was collected by the use of survey questionnaire, grouped and analysed according to the responses received. Chi-square test method was employed in testing the three hypotheses. The main findings indicated that formalities and procedures for selection and appointing of directors are known to a very small group of people while at the same time transparency and disclosure needs to be addressed seriously as there is very little compliance to this principle of good corporate governance. On the other hand directors performance have improved considerably as most of these companies are now growing operating commercially compared to the time when governments used to subsidize them. The research generally firmly confirms the important role, which directors play in implementing good corporate governance. Good corporate governance helps to ensure that companies are taking into consideration a wide range of stakeholders within which it operates and that directors are accountable to shareholders and in turn it helps to assure that companies operate for the benefit of the society as a whole.
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Keywords
Business ethics, Corporate governance, Corporations, Company directors, Tanzania
Citation
Beda, N. B. (2004). Corporate governance: an assessment of the role of directors in implementing good corporate governance in Tanzania: a case study of companies listed on Dar es Salaam stock exchange. Masters dissertation, University of Dar es Salaam. Available at (http://41.86.178.3/internetserver3.1.2/detail.aspx)