ABSTRACT
Undoubtedly, the corporation has become one of the most powerful forces in twentieth century economies. It is both a method of property tenure and a means of organizing economic life. The corporation’s separation of ownership into component parts, control and beneficial ownership has brought into sharp focus the fundamental divergence between shareholder and management interests. With sole proprietorships, the owners are usually the same people who manage and operate the business. But in large companies, corporate officers manage the business on behalf of the owners. This separation of ownership and control creates a potential conflict of interests. In particular, managers may care about their salaries, fringe benefits, or the size of their offices and support staff; or perhaps even the overall size of the business they are running, more than they care about the shareholders’ profits. This agency problem caused by the separation of ownership and control has long been a great concern globally. This is particularly so in the wake of mass corporate scandals witnessed in the past couple of years. Just like any other country, Nigeria has faced the same problem. In Nigeria, the Companies and Allied Matters Act, Cap. C20, LFN, 2004, was enacted as the principal statute regulating the formation and management of companies. The central tenets of the Act have been accountability, efficiency and objectivity on the part of management. However, cracks are visible in many areas of the Act with gross attendant consequences for directors. It is found out that the exercise of the powers as conferred by the Act on the directors to direct and manage the business of the company is vulnerable to abuse. This is particularly the case when directors are partially permitted to deal in contracts with their own companies. There is therefore the need for amendment of the Act. This study examines the relevant provisions of the Companies and Allied Matters Act, 2004 as well as the two Codes of Corporate Governance for public companies in Nigeria using doctrinal method. The objective is to ensure that there is corporate accountability.
ABSTRACT
Delegation of responsibilities is the organized process that permits the transfer of responsibilities and autho...
ABSTRACT
This study was carried out to investigate the Information services Provision for access and utilization of Agricultural Science...
ABSTRACT
The study investigates the impact of government expenditure on economic growth of Nigeria from the period 1980-2011. The objecti...
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Any country’s economic score sheet is influenced by the events within and from abroad. The reality of globalization has co...
Abstract: THE IMPACT OF HUMAN RESOURCE POLICIES ON EMPLOYEE SATISFACTION
This research...
ABSTRACT
The broad objective of this study is to critically assess precision...
STATEMENT OF PROBLEM
Presently, the number of corporate supermarkets operating in Abakaliki metropolis...
Abstract
Every activity in an organization requires human beings to interact, exchange information and co-ordinate other...
Abstract
This research work is aimed at analyzing the impact of village square meeting on agricultural development in Gakem, Bekwarra Loc...
Abstract
This research work is on the impact of government expenditure on economic development in Nigeria. The main objective of this stu...