A corporate governance and business ethics framework based on King IV™ for Standard Bank African subsidiaries.
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Date
2020
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Abstract
This study investigated the degree of compliance to King IV Report on Corporate Governance for South Africa, 2016 (King IV™) principles and recommended practices by 17 sampled Standard Bank African subsidiaries. An extensive literature review of business ethics and corporate governance was performed. A wide-ranging dialogue with the relevant role players within Standard Bank Group coupled with the respondents’ feedback, resulted in the King IV™ recommended practices being used as constructs to be measured to determine the degree of adherence to the recommended corporate governance and business ethics practices.
To answer the three research questions and meet the three research objectives, a manual questionnaire approach was employed to collect data from the 33 respondents that represented 17 Standard Bank African subsidiaries. The questionnaire was made up of 48 King IV™ recommended practices. Depending on their role within the Standard Bank African subsidiary boards, respondents were requested to indicate whether King IV™ corporate governance principles contained in the questionnaire were practiced or executed.
To test the reliability of the constructs in the questionnaire, a Cronbach's alpha (α) reliability test was performed with (α) equals 0.857 indicating a high level of internal consistency for the nominal scales used in the questionnaire. Validity was established through the research design and sequential mixed methods employed.
Based on the respondents’ feedback the researcher developed the corporate governance and business ethics framework for Standard Bank African subsidiaries incorporating King IV™. The researcher is of the view that the framework would assist Standard Bank Group in realising its stated purpose: Africa is our home, we drive her growth. A set of recommendations which would assist the Standard Bank Group in meeting the prescripts of King IV™ are proffered.
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Doctoral Degree. University of KwaZulu-Natal, Durban.