Corporate Governance Practices: The Impact of Budgetary Control Techniques in Nigerian Organization

Corporate Governance Practices: The Impact of Budgetary Control Techniques in Nigerian Organization.

ABSTRACT  

This research work is concerned on “Corporate Governance Practice: The Impact of Budgetary Control Techniques in the Nigeria Organization”. Specifically, the researcher identified four objectives to be achieved in the course of the research work. The researcher in the course of this research work employed the use of both historical and survey research design.

The researcher divided the question into two part: the impact and performance measures of corporate governance in Nigeria organization and the second part deal on the area of conflict between the top management and implementation on budgetary control techniques. Moreso, the researcher adopted the stratified random sampling in choosing/selecting the population and sample for the study and however the researcher used extensively review of other people’s literature on the work. 

In view of the findings made, it is recommended that adequate institutional framework and code of conduct should be put in place where aggrieved parties can seek redress, Board of Director should be sanctioned where the failed to display their roles to stakeholders and being transparent and accountability to stakeholders and members of the public, information should be properly disseminated to the parties involved in the preparation, analysis and implementation committee to avoid under delay implementation of the budget. 

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TABLE OF CONTENTS

Title page
Certification
Dedication
Acknowledgement
Abstract
List of tables
Table of contents

CHAPTER ONE: INTRODUCTION
1.1 Background of the study … … 1
1.2 Statement of the problem … … 8
1.3 Objectives of the study … … 9
1.4 Research questions … … 10
1.5 Scope and limitations of the study … 10
1.6 Significance of the study … … 12
1.7 Definition of terms … … 13

CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1 Overview of corporate governance … 16
2.2 Code/standard of corporate governance practices 23
2.3 Importance of corporate governance in budgetary
control … … … … 31
2.4 The roles and responsibilities of management in
budgetary control process … … 34
2.5 Areas of conflicts between management levels in
budgetary control process … … 39
2.6 Concept and techniques of budgetary
control process … … … 41
2.7 Causes of corporate failure … … 41
2.8 Tools for combating effective corporate governance 43
2.9 What requirements for contemporary corporate
governance … … … 54
2.10 Ethical issues in corporate governance … 59
2.11 Roles and responsibilities of the board of directors 62
References … … … … 67

CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research design … … … 70
3.2 Area of the study … … … 70
3.3 Sources of data … … … 71
3.4 Population of the study and sample … 71
3.5 Sample techniques … … … 72
3.6 Instrument for data collection … … 73
3.7 Method of data analysis … … 73
References … … … … 74

CHAPTER FOUR: DATA PRESENTATION & ANALYSIS
4.1 Data presentation … … … 75
4.2 Data analysis … … … 76

CHAPTER FIVE: FINDINGS
5.1 Summary of findings … … … 97
5.2 Conclusion … … … 102
5.3 Recommendations … … … 103
Bibliography … … … … 105
Appendices … … … … 107

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INTRODUCTION  

“Corporate governance is a new system by which business corporations are directed and controlled” as defined by the organization of Economic Corporation and development (OCED). In May 1999 ministers representing the 29 governments which comprises OCED members voted unanimously to endorse OCED principles of corporate governance. These principles were negotiated over the course of a year in consultation with the key players in the market.

They constitute the chief response by government to the G-7 summit leader’s recognition of corporate governance as an important pillar in the architecture of the 21 century global economy. The principle were welcomed by the G-7 leaders at the cologne summit in June 1999 and are likely to act as signpost for activity in this area by the international monetary fund, the world bank, the united nations and other international organizations.

In 1991, the OCED and the world bank signed a memorandum of understanding to broaden the global policy dialogue and corporation on corporate 11 governance reforms and to respond the need of individual countries to improve corporate governance. Corporate governance, as a concept can be viewed from at lest two perspectives; a narrow one in which it is viewed merely as being concerned with the structure within which a corporate entity or enterprise receives its basic orientation and direction (Rivegasira, 2000:268). 

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REFERENCES

ANIEMENA, B. (2005), “Corporate Governance a Key Factor in Financial Sector Stability Bulletin, Vol. 20 No5, P52.
CBN (2006), Joint Study on Banking Sector Distress, New Age Daily News Paper, May 10, Tuesday, Vol. 13 No 611,P.13.
Del, N. (2001), Corporate Governance and Accountability What Role for the Regulator? Director and Auditor,
London, Quorum Books, P. 156.
King II, (2005), The Modern Corporation and Private Property, New York Macmillan Publishing Company, P.137.
Okechukwu K. (2000) “The Role of the Financial Sector in Poverty Reduction, Enugu, Mass-Communication Press,P.5.
Rivegasira, (2005), Strategic Management and Business Policy, New York, Addson Wesley Publishing Company
Limited P. 268.
Osisioma, H.E. (2005), “Conflict Management in Nigeria: A Study of Selected Organization in the Manufacturing and Service Sectors”, Unpublished PHD Thesis, Department of Management, University of Nigeria, Enugu Campus,P.13.

StudentsandScholarship Team.