Contextualizing Global Corporate Governance Reforms in a Developing Institutional Context
Daodu, Olabisi, and Adegbite, Emmanuel (2026) Contextualizing Global Corporate Governance Reforms in a Developing Institutional Context. Journal of African Business, 27 (3). pp. 586-606.
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Abstract
This study examines how the institutional context of companies influences their approach to global corporate governance reforms and the implications for convergence in governance practices. Using institutional theory, this study investigates corporate governance regulations and the implementation of global reforms within Nigeria’s developing institutional context, employing interviews and documentary analysis. The findings indicate that, due to existing institutional voids, corporate governance regulations in Nigeria do not follow a centralized hierarchy that supports self-regulation. Instead, a mandatory approach through key economic sectors seems to be the only practical way to implement universal best practices. Consequently, corporate governance reforms in Nigeria are diverse, aligning with the main priorities of each key sector. Overall, this study argues that institutional voids in developing countries lead to differing approaches to global reforms, which may ultimately hinder the convergence of corporate governance practices.
| Item ID: | 92850 |
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| Item Type: | Article (Research - C1) |
| ISSN: | 1522-8916 |
| Keywords: | Corporate governance reforms, developing country, institutional theory, institutional voids, mandatory and self-regulation |
| Copyright Information: | © 2026 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent. |
| Date Deposited: | 04 Aug 2026 05:43 |
| FoR Codes: | 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3507 Strategy, management and organisational behaviour > 350701 Corporate governance @ 100% |
| SEO Codes: | 13 CULTURE AND SOCIETY > 1303 Ethics > 130302 Business ethics @ 100% |
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