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- Title
The Dynamics of Corporate Governance in South Africa: Broad Based Black Economic Empowerment and the Enhancement of Good Corporate Governance Principles.
- Authors
Esser, Irene-marié; Dekker, Adriette
- Abstract
This paper illustrates the effect of BBBEE on good corporate governance. Corporate governance and specifically directors' duties relating to stakeholder protection are focused on. Traditionally, directors are expected to manage a company in the best interests of the shareholders collectively. The question arises as to whether directors should also consider the interests of other stakeholders, inter alia employees, creditors, the environment and the community. The South African Broad Based Black Economic Empowerment Act 53 of 2003, not only aims at correcting racial imbalances, but also strives to promote social investment and the empowerment of communities. By adhering to this act, directors will by implication consider the interests of the community and give effect to the triple-bottom line approach when managing a company. This paper will illustrate the unique dynamics of corporate governance in South Africa.
- Subjects
CORPORATE governance; CORPORATE directors; RACISM; SUSTAINABLE development reporting; STAKEHOLDERS; LEGAL status of stockholders; BLACK Economic Empowerment (South Africa)
- Publication
Journal of International Commercial Law & Technology, 2008, Vol 3, Issue 3, p157
- ISSN
1901-8401
- Publication type
Article