CORPORATE GOVERNANCE AND ITS IMPACT ON THE MANAGEMENT OF MTN MOBILE COMMUNICATION NIGERIA LTD. KADUNA MAIN BRANCH
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CORPORATE GOVERNANCE
AND ITS IMPACT ON THE MANAGEMENT OF MTN MOBILE COMMUNICATION NIGERIA LTD.
KADUNA MAIN BRANCH
CHAPTER ONE
INTRODUCTION
1.1 Background of
the Study
Corporate Governance is a number of process, customers,
policies, laws and institutions which impacts on the way a company is
controlled. An important theme of corporate governance is the nature and extent
of accountability of people in the business and mechanisms that try to decrease
the principal agent problem (Wikipedia, 2011).
Corporate Governance also includes the relationships among
the many stakeholders involved and the goals for which the corporation is
governed. In contemporary business corporations, the main external stakeholder
groups are shareholders, debt holders, trade creditors, suppliers, customer and
communities affected by the corporation’s activities. Informal stakeholders are
the board of directors, executives and other employees. It guarantees that an
enterprise is directed and controlled in a responsible, professional, and
transparent manner with the purpose of safeguarding its long-tem success it is
intended to increase the confidence of shareholders and capital market
investors.
The World Bank (2009) states that corporate governance
comprises two mechanisms, internal and external corporate governance. Internal
corporate governance, giving priority to shareholder’s interest, operated on
the board of directors to monitor top management. On the other hand, external
corporate governance monitors and controls manager’s behaviors by means of
external regulations and force, in which many parties, such as suppliers,
debtors (stakeholders), accountants, lawyers, and providers of credit and investment
bank.
In the past, so many corporate organizations have been caught
of getting involved in unethical practices, for example the discovery of
financial scam by the Central Bank of Nigeria after the consolidation exercise,
involving seven top bank executives in Nigeria, which puts the credibility of
their corporate image under suspicion, which further shocking investors
confidence. Consequently, corporate governance mechanism has been a crucial
issue discussed again.
It is against this background that the researcher see the
subject matter; corporate governance and its impact on the management of MTN
Mobile Communication Limited, Kaduna main branch as an issue worthy of being
investigated.
1.2 Statement of
Problem
In the past, so many organizations in Nigeria have been
involved in unethical practices, which puts the credibility of their corporate
image doubt. As such MTN Mobile Communications just like other
telecommunication company have been constraint with issues arising form
customer’s complaint of high tariffs, exploitations of workers by using
contract staff as against direct engagement of workers that would be
remunerated according to their condition of service. Previous researches into
the subject has brought to light the poor governance of so many companies with
indebted accounts in Nigeria economy. Their accounting systems did not reflect
the companies financial status. A typical example is the financial scam of
Oceanic and Intercontinental Bank after the consolidation. Most management of
such outfits were not accountable to stakeholders of the companies. Besides,
the counts and the regulatory agencies were short of authority, corruption and
kickbacks were part of the system in the companies. The poor governance
practices led to the collapse of so many companies in Nigeria. Hence the need
to study corporate governance and its impact on the management of MTN Mobile
Communication Kaduna main branch.
1.3 Objective of
the Study
The main objective of the study is to examine the corporate
governance and its impact on the management of MTN Mobile Communication. The
specific objectives are:
i) To
examine the effect of corporate governance on the performance of MTN.
ii) To examine
the internal and external corporate governance control mechanism in MTN.
iii) To identify
the systemic problems of corporate governance in MTN.
iv) To proffer
workable solutions to the identified problem of corporate governance in MTN.
1.4 Significance
of the Study
The study will be significant to MTN Mobile Communication
especially as they utilize the findings of this research in enhancing policy
governance in their organization. The study will also add to the existing
knowledge on the subject matter and will also be a reference material for
further research on corporate governance.
1.5 Research
Questions
The central research question is: What is the impact of
corporate governance on the management of MTN Mobile Communication? The
specific questions are:
i) How does
corporate governance affect the performance of MTN?
ii) What are
the internal and external corporate governance control mechanism in place in
MTN?
iii) What are
the systemic problems militating against corporate governance in MTN?
iv) What are the solutions to such problems?
1.6 Scope of the
Study
The study covers the examination of the impact of corporate
governance on MTN Mobile Communication. The collection of empirical data is
limited to MTN Mobile Communication Kaduna main office. The study covers a time
from 2006 – 2011.
1.7 Definition of
Terms
Corporate Governance: This is relationship that exists
between the different participants, and defining the direction of the firm.
Corporation: This refers to corporate entity or a body by
means of which capital is acquired, used for investing in assets producing
goods and services.
Shareholders: People who have invested in a company through
subscribing to the company’s stock.
Board Structure: Management at the top comprising of board of
directors.
Ownership Structure: Shareholders and directors.
CEO: Acronym for Chief Executive Officer.
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