This study explores the relationship between corporate governance and organisational performance within state-owned enterprises (SOEs) in the Zimbabwean transport sector, with the objective of developing an integrated and contextually relevant governance-performance model. Despite their critical role in facilitating mobility and supporting trade, SOEs such as Air Zimbabwe and Zimbabwe United Passenger Company (ZUPCO) continue to experience persistent challenges, including financial deficits, operational inefficiencies, and declining service delivery standards. Existing scholarship tends to examine corporate governance in isolation, often overlooking the broader organisational and institutional contexts within which these enterprises operate. Adopting a mixed-methods research design, this study integrates quantitative analyses, comprising descriptive statistics, correlation, regression, and moderation techniques, with qualitative insights derived from interviews. The research is underpinned by a multi-theoretical framework that incorporates the resource-based view (RBV), institutional theory, systems theory, and contingency theory. The findings reveal that corporate governance plays a pivotal role in influencing organisational performance, alongside key internal factors such as human capital, technological capability, organisational culture, leadership, and the external operating environment. These elements collectively affirm the multidimensional nature of organisational performance. However, the study also finds that political interference significantly undermines the positive impact of governance structures and organisational capabilities. The study makes a theoretical contribution by advancing an integrated governance-performance model, while empirically highlighting the moderating effect of political interference. From a practical standpoint, the findings underscore the importance of comprehensive reforms in SOEs that prioritise strengthened governance frameworks, reduced political intrusion, and enhanced organisational capacity.
This structured literature review explores the role of corporate governance in enhancing the effectiveness of management control systems (MCS), with a particular focus on the emerging challenges and strategic directions in implementation. Drawing on peer-reviewed publications from 2020 to 2025, the study synthesizes four critical themes: (1) the functional role of governance in MCS design, (2) multidimensional indicators of control system effectiveness, (3) barriers to governance-aligned MCS implementation, and (4) strategic responses to contemporary governance demands. The review reveals that corporate governance improves MCS by reinforcing transparency, accountability, risk mitigation, and stakeholder engagement, particularly when supported by internal audit, board independence, and digital capabilities. It also highlights emerging concerns such as cybersecurity, remote work productivity, technological adaptation, and employee well-being. Theoretically, this study contributes by integrating control systems theory with digital governance and behavioral insights; practically, it offers guidance for designing responsive, ethical, and performance-driven control architectures. Limitations include the reliance on secondary sources and the lack of empirical generalization, prompting future research to investigate causal mechanisms through mixed-methods approaches
Amalia Sholehah· Jurnal Profesi Dan Manajemen...· 0 citations
Sustainable development is increasingly reshaping corporate strategies, particularly in emerging markets such as India, where environmental, social, and governance (ESG) integration has become pivotal for long‐term value creation. This study examines the impact of ESG performance on firm outcomes for Nifty 500 firms over 2014–2024, considering both aggregated and disaggregated ESG dimensions, while assessing the influence of country‐level governance mechanisms. Using panel regression analysis, the findings reveal that robust ESG practices significantly enhance financial, operational, and market performance, underscoring their strategic relevance. At the disaggregated level, social (SOC) and governance (GOV) performance consistently improve profitability, efficiency, and market valuation, whereas environmental (ENV) initiatives exhibit short‐term negative effects, likely due to compliance and investment costs. Further, country governance indicators, including voice and accountability (VAA), political stability and absence of violence (PSV), government effectiveness (GVE), regulatory quality (REQ), rule of law (ROL), and control of corruption (COC), differentially shape the ESG–performance link. While VAA, PSV, REQ, and GVE enhance ESG's impact, ROL and COC constrain immediate gains, highlighting the role of governance quality in aligning ESG initiatives with firm‐level outcomes. The study provides critical insights for regulators, policymakers, investors, and corporate managers, emphasizing governance as a key enabler of sustainable growth in an emerging market.
Rizwana Khurshid, A. Islam· Business Strategy & Deve...· 0 citations
This paper focuses on the role of embedded corporate governance in the integration of environmental, social and governance (ESG) and firm profitability in emerging markets. The study adopts an explanatory sequential mixed-methods design comprising panel regression analysis of governance and financial indicators for the period 2014-2024, and qualitative analysis of ESG disclosures based on ISO IWA 48:2024, based on evidence from the listed agri-food sector in Zambia. Baseline governance models showed weak relationships with profitability across the panel estimators. Although governance did not demonstrate a statistically significant direct association with short-term accounting profitability, the qualitative findings consistently showed that governance strengthens accountability, stakeholder trust, organisational resilience and ESG integration. These findings support an embedded governance perspective in which governance contributes to sustainable competitiveness primarily through organisational capability rather than immediate financial gains. The results have managerial and policy implications for improving sustainable competitiveness in resource constrained and institutionally fragile settings.
Mubanga Lackson Chipimo, John Bwalya, Joseph Katongo Kanyanga· Symphonya Emerging Issues in...· 0 citations
The study investigates the corporate governance practices-organizational performance nexus in frontier African economies within a multi-country context to fill literature gaps in African contexts. Quantitative panel data analysis is used on secondary data of 120 Kenyan, Nigerian, Ghanaian, and South African listed firms from the period 2013 to 2023. Fixed-effects regression is used in modeling the governance mechanism-firm performance nexus. Findings show that board independence and audit effectiveness are positively linked with return on assets (ROA) and return on equity (ROE). CEO duality and concentrated ownership negatively influence financial performance and firm reputation. These relationships vary across countries depending on institutional framework quality. Innovation is captured by an index of R&D intensity, product development, and patent applications, addressing measurement limitations in prior studies. The shortcoming is country heterogeneity in data quality and further longitudinal analysis to be done. This article bridges a regional knowledge shortfall by giving comparative African data-based observations, and integrating agency and stakeholder theories with a cohesive analytical framework.
F. Githui, J. Njuru· African Journal of Managemen...· 1 citation
Purpose: This study examines the impact of slack resources, corporate governance proxied by board size and institutional ownership, growth, and media exposure on corporate social responsibility within the mining sector, a sector that frequently encounters issues related to environmental damage caused by its operational activities.
Method: This study employs panel data regression analysis using Eviews 12. Through purposive sampling, 50 mining companies were selected from a population of 81 for the 2022–2024 research period.
Results: The findings indicate that slack resources, board size (as a proxy for corporate governance), and media exposure positively impact corporate social responsibility. In contrast, institutional ownership (as a proxy for corporate governance) and growth show no significant relationship with it.
Implications: The findings of this research can assist company management, particularly in the mining sector, in making decisions related to resource allocation. In addition, the findings can be useful in promoting corporate transparency and accountability, particularly in the mining sector, which is sensitive to social and environmental issues.
Novelty: As a sector that often faces social and environmental issues, mining was selected as the new focus for this research. Furthermore, it introduces slack resources as a new variable and replaces the corporate governance variable proxy with board size and institutional ownership.