This article examines the political and economic context of corporate governance reform in post-apartheid South Africa. It does so by situating the debate on corporate governance in a wider political economy context, ultimately anchored in the varieties of capitalism literature and emerging research in IPE on global pressures for convergence of corporate governance practices worldwide. In particular, the article examines how the Southern African political economy and global actors shape societal debates on corporate governance; what the role of the King Reports on Corporate Governance are in the reform process and ensuing legislation; and whether South Africa can construct a system of corporate governance that takes into consideration both economic and social outcomes. The findings suggest that while those in charge of corporate governance reform in South Africa face pressures on policy decisions that are present across the Global South, it is also the case that the debate about shareholder v stakeholder rights, and whether ‘best practice’ in corporate governance can be aligned with urgent political and social pressures for socio-economic transformation of society, is particularly salient in emerging markets with a legacy of uneven development and social conflict.
- corporate governance,
- King Report,
- South Africa
Available at: http://works.bepress.com/stefan_andreasson/9/