Department of Law

Permanent URI for this collection

https://repository.lcu.edu.ng/handle/123456789/62

Browse

Browsing Department of Law by Subject "Disclosure Regimes"

Now showing 1 - 1 of 1
  • No Thumbnail Available
    Item
    CORPORATE GOVERNANCE AND CORPORATE STAKEHOLDERS: A COMPARATIVE ANALYSIS OF THE LAWS IN NIGERIA AND AUSTRALIA
    (Lead City University, 2022-12) JIBRIL-ALIYU, ZAYNAB TITILOPE
    Corporate governance is an important feature of any developed or developing economy. In recent times, it has become an integral form of regulation for companies, and stakeholders as they manage the growing influence of corporate bodies on culture, consumption, lifestyle, goods and services of and for the society. However, there is significant debate on what should take primary influence on corporate governance direction, between the stakeholders or the shareholder approach. This dissertation sought to investigate these questions with a view to proffering answers on the state of stakeholder considerations under Nigerian laws, flaws of Nigerian corporate governance when placed against international standards and lessons adaptable from the Australian framework within the Nigerian corporate environment. The research is conducted using the doctrinal qualitative method involving collection of findings available in laws, regulations, journals, online repositories and publicly available secondary sources. The research also adopts a qualitative review of these assessable resources including the OECD framework to properly assess in the right contexts the status of Nigerian corporate governance. This thesis finds that there are significant gaps in the Nigerian legal framework in relation to stakeholder recognition in corporate decisions compared to the Australian system. There was significant support for shareholder primacy against stakeholder considerations and disclosure regimes are arbitrary not meeting the ideals of free market economies or slightly liberal approaches that takes the comply or explain routes to low-risk compliance obligations. The research recommends a review of the Nigerian corporate governance framework to address these issues. Overall, this thesis concludes that the stakeholder theory is the best approach to corporate governance, and a proper implementation of this is crucial for the future of Corporate Governance in the country. This research is important as it properly outlines the current weaknesses of the Corporate Governance regime in Nigeria, which will greatly inform policy, as well as influence future discuss and research in the field.