Original Research

The political economy of corporate governance reform in South Africa

G. Diamond, G. Price
South African Journal of Business Management | Vol 43, No 1 | a176 | DOI: https://doi.org/10.4102/sajbm.v43i1.176 | © 2018 G. Diamond, G. Price | This work is licensed under CC Attribution 4.0
Submitted: 13 April 2018 | Published: 31 March 2012

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G. Diamond, Gordon Institute of Business Science, South Africa
G. Price, Gordon Institute of Business Science, South Africa

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Abstract

This study describes the political-economic dimension of corporate governance reform in South Africa. It then investigates the relationship between corporate governance institutions and systems on the one hand and the political, economic and historical context of South African society on the other. The study establishes the political, economic and historical determinants of corporate governance reform as they evolved in the course of South African corporate history. The study concludes that South African corporate governance reform and such reform in the Commonwealth economic systems have a lot in common in terms of their historical evolution. This is despite the reasons for such reform being vastly different. The outcome of the political process in South Africa, for very specific reasons, is that a specific shareholder model of corporate governance became the corporate governance system in South Africa.

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