IDEAS home Printed from https://ideas.repec.org/a/eme/srjpps/srj-12-2019-0402.html
   My bibliography  Save this article

Corporate governance in state-owned enterprises in Lesotho

Author

Listed:
  • Emmanuel Kopang Botlhale

Abstract

Purpose - The purpose of this study is to discuss corporate governance in state-owned enterprises (SOEs) in Lesotho to influence policy debates. Design/methodology/approach - This is a desktop study that used the qualitative research approach. For this research, the case study method has been adopted. In terms of orientation, this is descriptive research. Data were collected from three-tiered sources: independent publications (e.g. World Bank); government publications; and newspaper articles. Data analysis was in the form of document analysis. Findings - The study concluded that there are instances of poor and/or bad governance in SOEs in Lesotho. Egregious examples include transgressing against the Public Financial Management Act (2011) and the failure to submit Audited Financial Results. Research limitations/implications - The findings are limited to a specific case. Nonetheless, there are general lessons that can be drawn for African countries from the case study. A key general lesson is the imperative need to reconfigure the legal-institutional architecture of SOEs so that they create public value. Practical implications - Other than cataloguing instances of poor and/or bad governance in SOEs in Lesotho, the paper goes further and accordingly makes policy recommendations to enhance corporate governance in SOEs in Lesotho. Originality/value - There is no academic study on corporate governance in SOEs in Lesotho; therefore, there is a gap in the literature. Hence, the study makes an original contribution to the literature.

Suggested Citation

  • Emmanuel Kopang Botlhale, 2020. "Corporate governance in state-owned enterprises in Lesotho," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 17(3), pages 429-443, April.
    • Handle: RePEc:eme:srjpps:srj-12-2019-0402
    DOI: 10.1108/SRJ-12-2019-0402
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/SRJ-12-2019-0402/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/SRJ-12-2019-0402/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/SRJ-12-2019-0402?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dan Luo & Shujie Yao, 2010. "World financial crisis and the rise of Chinese commercial banks: an efficiency analysis using DEA," Applied Financial Economics, Taylor & Francis Journals, vol. 20(19), pages 1515-1530.
    2. Garvey, Gerald T. & Swan, Peter L., 1994. "The economics of corporate governance: Beyond the Marshallian firm," Journal of Corporate Finance, Elsevier, vol. 1(2), pages 139-174, August.
    3. Pannier, D., 1996. "Corporate Governance of Public Enterprises in Transitional Economies," Papers 323, World Bank - Technical Papers.
    4. Shleifer, Andrei & Vishny, Robert W, 1997. "A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    5. Tālis J. Putniņš, 2015. "Economics of State-Owned Enterprises," International Journal of Public Administration, Taylor & Francis Journals, vol. 38(11), pages 815-832, September.
    6. Grossman, Sanford J & Hart, Oliver D, 1983. "An Analysis of the Principal-Agent Problem," Econometrica, Econometric Society, vol. 51(1), pages 7-45, January.
    7. Massimo Florio & Fabienne Fecher, 2011. "The Future Of Public Enterprises: Contributions To A New Discourse," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 82(4), pages 361-373, December.
    8. Heo,Kyoungsun, 2018. "Effects of corporate governance on the performance of state-owned enterprises," Policy Research Working Paper Series 8555, The World Bank.
    9. Ines Willemyns, 2016. "Disciplines on State-Owned Enterprises in International Economic Law: Are We Moving in the Right Direction?," Journal of International Economic Law, Oxford University Press, vol. 19(3), pages 657-680.
    10. Katarzyna Szarzec & Wanda Nowara, 2017. "The economic performance of state-owned enterprises in Central and Eastern Europe," Post-Communist Economies, Taylor & Francis Journals, vol. 29(3), pages 375-391, July.
    11. Gavrea Corina & Stegerean Roxana, 2011. "Comparative Study On Corporate Governance," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 674-680, December.
    12. Adèle Thomas, 2012. "Governance at South African state‐owned enterprises: what do annual reports and the print media tell us?," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 8(4), pages 448-470, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Goergen, Marc & Manjon, Miguel C. & Renneboog, Luc, 2008. "Recent developments in German corporate governance," International Review of Law and Economics, Elsevier, vol. 28(3), pages 175-193, September.
    2. Hu, Helen Wei & Cui, Lin, 2014. "Outward foreign direct investment of publicly listed firms from China: A corporate governance perspective," International Business Review, Elsevier, vol. 23(4), pages 750-760.
    3. Peter Wirtz, 2000. "Mental Patterns, Corporate Finance and Institutional Evolution: The Case of the French Corporate Governance System," Working Papers CREGO 1000101, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    4. Qi Zeng & Hae Won (Henny) Jung, 2014. "Optimal Contract, Ownership Structure and Asset Pricing," 2014 Meeting Papers 911, Society for Economic Dynamics.
    5. Marco Zanobio, 2012. "Aspetti teorici della Corporate Governance," DISEIS - Quaderni del Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo dis1202, Università Cattolica del Sacro Cuore, Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo (DISEIS).
    6. Nuri Ersahin & Rustom M. Irani & Hanh Le, 2015. "Creditor Control Rights and Resource Allocation within Firms," Working Papers 15-39, Center for Economic Studies, U.S. Census Bureau.
    7. Gérard Charreaux, 2002. "Variation sur le thème:"À la recherche de nouvelles fondations pour la finance et la gouvernance d'entreprise"," Revue Finance Contrôle Stratégie, revues.org, vol. 5(3), pages 5-68, September.
    8. Renneboog, L.D.R. & Trojanowski, G., 2002. "The Managerial Labor Market and the Governance Role of Shareholder Control Structures in the UK," Discussion Paper 2002-68, Tilburg University, Center for Economic Research.
    9. Daniel Chigudu, 2021. "Picking up Pieces of Good Corporate Governance to Sustain National Railways of Zimbabwe," Indian Journal of Corporate Governance, , vol. 14(1), pages 27-47, June.
    10. Dilger, Alexander, 2016. "Bedingte Aktiengeschäfte," Discussion Papers of the Institute for Organisational Economics 08/2016, University of Münster, Institute for Organisational Economics.
    11. Orman, Cuneyt, 2015. "Organization of innovation and capital markets," The North American Journal of Economics and Finance, Elsevier, vol. 33(C), pages 94-114.
    12. James Lau & Philip Sinnadurai & Sue Wright, 2009. "Corporate governance and chief executive officer dismissal following poor performance: Australian evidence," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 49(1), pages 161-182, March.
    13. Michael Amoh Asiedu & Emmanuel Mensah, 2023. "Re-examining the corporate governance – Firm performance nexus: Fresh evidence from a causal mediation analysis," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(1), pages 2223414-222, December.
    14. Fidanoski, Filip & Mateska, Vesna & Simeonovski, Kiril, 2013. "Corporate Governance and Bank Performance: Evidence from Macedonia," MPRA Paper 46773, University Library of Munich, Germany, revised Mar 2013.
    15. Laing, Elaine & Gurdgiev, Constantin & Durand, Robert B. & Boermans, Boris, 2019. "U.S. tax inversions and shareholder wealth effects," International Review of Financial Analysis, Elsevier, vol. 62(C), pages 35-52.
    16. Cuneyt Orman, 2010. "Organization of Innovation and Capital Markets (Teknolojik Yeniligin Orgutlenmesi ve Sermaye Piyasalari)," Working Papers 1010, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    17. He, Yan & Chiu, Yung-ho & Zhang, Bin, 2015. "The impact of corporate governance on state-owned and non-state-owned firms efficiency in China," The North American Journal of Economics and Finance, Elsevier, vol. 33(C), pages 252-277.
    18. Tran, Duc Hung, 2014. "Multiple corporate governance attributes and the cost of capital – Evidence from Germany," The British Accounting Review, Elsevier, vol. 46(2), pages 179-197.
    19. Claudiu BOCEAN & Catalin M. BARBU, 2007. "Corporate Governance And Firm Performance," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 5(1), pages 125-131, November.
    20. Yixuan Duan & Min Guo & Yixuan Huang, 2022. "Leverage of Local State-Owned Enterprises, Implicit Contingent Liabilities of Government and Economic Growth," Sustainability, MDPI, vol. 14(6), pages 1-23, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:srjpps:srj-12-2019-0402. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.