The dynamics of corporate governance in South Africa: broad based black economic empowerment and the enhancement of good corporate governance principles

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

The protection of stakeholders: the South African social and ethics committee and the United Kingdom’s enlightened shareholder value approach: part 1

No abstract available

The protection of stakeholders: the South African social and ethics committee and the United Kingdom’s enlightened shareholder value approach: part 2

No abstract available

Disclosure and engagement: stakeholder participation mechanisms

Over the past years, voluntary self-regulatory instruments like the United Nations Global Compact and the Global Reporting Initiative have become important vehicles through which companies demonstrate their commitment to a more sustainable future, including adherence to environmental and social rules. In the UK, disclosure requirements of companies are to be found in company law and securities law and have recently been increased through the introduction of the strategic report. According to the amended CA 2006, the directors of a company must prepare a strategic report for each financial year of the company. The aim of the strategic report is to provide details on how s. 172 CA 2006 has been applied and how stakeholder interests have been integrated into board decision-making and the activity of companies. The question that this article will address is whether or not, with high levels of disclosure, additional reform is needed, by way of legislative amendments or soft law that will increase stakeholder participation resulting in an engaged stakeholder base during board decision-making

The dynamics of corporate governance in South Africa: broad based black economic empowerment and the enhancement of good corporate governance principles

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

Engaging stakeholders in corporate decision-making through strategic reporting: an empirical study of FTSE 100 companies

The strategic report is the latest iteration of non-financial reporting in the UK. This project empirically analyses the practical implications and relevance of the production of a strategic report for shareholders and especially other stakeholders (e.g. employees, customers, suppliers, environmental agencies, social, community, and human rights bodies). The strategic reports of the FTSE 100 companies from 2015 and 2016 are scrutinised, using a methodology involving compliance coding. This study is especially significant as the practical implications and relevance of the production of a strategic report by company directors have not been discussed in depth in prior literature. This paper fills this gap by first providing empirical evidence on compliance with the relevant statutory provisions. It sheds light on the manner in which companies consider environmental, social and governance (ESG) issues in decision-making and the extent to which disclosure represents an effective strategy for engaging stakeholders in that process. It also evaluates the type and quality of information transferred from the company to stakeholders in the form of the strategic report. This first systematic review of strategic reporting in the UK carries international implications due to the high international shareholder base in FTSE 100 companies

The Pandemic Response in the UK in the Context of Corporate and Financial Law – within and without Law

This short paper focuses on the response to the pandemic in corporate law and capital markets regulation and the role that the law played in it. First, the pandemic has brought the interests of stakeholders into more direct focus in corporate governance than was previously the case. But questions remain as to whether this represents only a temporary adjustment in response to the crisis or, alternatively, a more enduring trend. And if the latter, it prompts consideration of the appropriate techniques for stakeholder engagement and participation in corporate governance. Second, the pandemic has disrupted the relationship between financial firms and their customers and the operation of capital markets. Conduct regulators have responded with a series of interventions. We examine whether those interventions are ad hoc or, alternatively, if they can be linked to key regulatory trends that emerged in the wake of the 2008 global financial crisis. This approach provides a basis for assessing the implications of the pandemic for the future trajectory of conduct regulation. Conclusions are then drawn on the way forward and the likely role that the law will play

A rule-based analysis and comparison of the case Studies

Rougeot Pierre-Claude. Descriptions d'Attacidae éthiopiens inédits du Muséum national d'Histoire naturelle [Lep.]. In: Bulletin de la Société entomologique de France, volume 76 (3-4), Mars-avril 1971. pp. 106-108

Beskerming van belanghebbendes : die Suid-Afrikaanse maatskaplike- en etiekkomitee en die Verenigde Koninkryk se verligte aandeelhouersbelang benadering : Deel 1

Maatskappyereg is nog altyd baseer op die beginsel dat die direksie die maatskappy moet bestuur in die beste belang van die maatskappy. “Maatskappy” in hierdie sin beteken die maatskappy as afsonderlike regsentiteit, met verwysing na die vermoënsmaksimalisering van die belange van die aandeelhouers. Die belange van die ander belangehouers, soos die werknemers, staat en verbruikers kon in ag geneem word, maar die fokus is die aandeelhouers se belange. Hierdie teorie van die uitgebreide aandeelhouersbelang (“enlightened shareholder approach”) is ook aanvaar as die basis van die Suid-Afrikaanse Maatskappywet 71 van 2008, in stede van die meervoudige belange benadering (“pluralist approach”). Daar is egter ’n duidelike verandering ten opsigte van die voortgesette absolute toepassing van eersgenoemde benadering te bespeur, nie net in die Suid-Afrikaanse konteks nie, maar ook wêreldwyd. Hierdie beweging is miskien begin deur instrumente soos Kodes, maar in die Suid-Afrikaanse Maatskappywet is daar ook nou spesifieke bepalings wat aan sekere belangegroepe direkte remedies verleen. Daar is twee modelle wat die direksie in staat stel om hierdie ander belange in ag te neem, en in Suid-Afrika geskied dit deur die Sosiale en Etiese Komitee, terwyl dit in die Verenigde Koningkryk gedoen word deur middel van ’n spesifieke statutêre bepaling, alhoewel laasgenoemde nie direk afdwingbaar is deur die belangegroepe nie. In hierdie artikel word die twee modelle in oënskou geneem en die effektiwiteit daarvan word ge-evalueer, veral in die lig van die praktiese probleme en die wenslikheid van sulke inisiatiewe, sonder dat die basiese gemeneregreël ten opsigte van die aandeelhouerfokus uitdruklik gewysig word.http://www.dejure.up.ac.zaam2018Mercantile La