The impact of Corporate Governance in the Operations of the Stock Market. A case study of Uganda Securities Exchange.
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Date
2007-05
Authors
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Journal ISSN
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Publisher
Kampala International University, College of Economics and Management Sciences .
Abstract
The practice of corporate governance is becoming increasingly important in
today's global market. It is the demand from growing businesses for external
domestic and international capital in quantities and ways that would have
been inconceivable just a decade ago.
Corporate governance in this study brings the value of democracy to the
corporate level and ensures that effective rules allow equal access and
protection for all participants. This achievable only with good corporate
culture and applies to all kinds of firms, irrespec.tive of ownership structure.
Stakeholders here include shareholders, management, workers as well as all
groups of persons that come into contact with the firm in its day to day
activities.
The principle of corporate governance as a necessity for economic
development in Africa is one that is recognized by the New Partnership for
African Development (NEPAD) Declaration adopted by the Organization for
African Unity (OAU) in July 2001. High profile corporate financial scandals
such as those affecting the Enron Corporation and Barings Bank have shown
that it is a truly global phenomenon and not simply a problem that is
restricted to developing countries. It affects not just the corporations, their
shareholders and employees but also national and global economies. This
study sets out to address the various dimensions of corporate governance
and assess its relevance and impact on the ·operations of the Uganda
Securities Exchange.
Description
Presented to the School of Business and Management in Partial Fulfillment of the Requirements for the Award of Degree in International Business Administration of Kampala International University.
Keywords
Corporate Governance, Stock Market., Impact, Operations, Uganda Securities Exchange