Exploring governance issues among boards of directors within state-owned enterprises in Barbados
International Journal of Public Sector Management
ISSN: 0951-3558
Article publication date: 1 November 2018
Issue publication date: 23 April 2019
Abstract
Purpose
The purpose of this paper is to examine corporate governance (CG) issues among boards of directors (BODs) in Barbados’ state-owned enterprises (SOEs) by utilizing agency and institutional theories as the theoretical framework.
Design/methodology/approach
This research adopts a mixed methods approach using quantitative and qualitative methods. Data are collected in five stages including data initially from a governance workshop attended by BODs. The findings are presented and feedback obtained in subsequent stages including several seminars attended by BODs, government officials, regulators and other stakeholders.
Findings
BODs perceive that they perform their roles and responsibilities in an effective and efficient manner, influence decision making, exercise control in SOEs and conduct well-organized meetings. However, respondents from the various stages report that there is lack of accountability and transparency, inadequate disclosure, lengthy board meetings resulting in excessive delays in decision making, unclear accounting and auditing guidelines, and a lack of training in financial and CG matters. Political interference, board appointment and composition are also cited as major concerns.
Research limitations/implications
Suggestions include reduced political interference, increased training, following OECD (2005) best practices and greater accountability.
Originality/value
The paper extends the literature on CG in BODs in SOEs in emerging economies. This study utilizes the agency and institutional frameworks to understand the phenomenon.
Keywords
Acknowledgements
The authors wish to thank the editor and two anonymous reviewers for their insightful comments.
Citation
Thompson, R.M., Alleyne, P. and Charles-Soverall, W. (2019), "Exploring governance issues among boards of directors within state-owned enterprises in Barbados", International Journal of Public Sector Management, Vol. 32 No. 3, pp. 264-281. https://doi.org/10.1108/IJPSM-04-2018-0099
Publisher
:Emerald Publishing Limited
Copyright © 2018, Emerald Publishing Limited