Governance and Strategy Implementation in the Federal Government of Somalia
DOI:
https://doi.org/10.70619/vol2iss1pp35-44Keywords:
Corporate governance, strategy implementation, financial Institutions, Federal GovernmentAbstract
The study examined the relationship between five governance principles - transparency, accountability, equity, and employee participation and financial strategy implementation in Somalia using a sample of 297 financial institutions. Corporate governance principles were moderately practiced (median of 3 and 4 on a 5-point Likert scale) and were significantly related to the implementation of financial management strategy (accountability: r =.734, p<.05; equity: r =.534, p<.05; employee participation: r =.643, p<.05; transparency (r =.629, p<.05). Somalia's federal government should strengthen corporate governance to improve financial strategy implementation.
References
Adeniran, J. O., Yusuf, S. A., & Adeyemi, O. A. (2014). The impact of exchange rate fluctuation on the Nigerian economic growth: An empirical investigation. International Journal of Academic Research in Business and Social sciences, 4(8), 224.
Almagtome, A. H., Al-Yasiri, A. J., Ali, R. S., Kadhim, H. L., & Heider, N. B. (2020). Circular economy initiatives through energy accounting and sustainable energy performance under an integrated reporting framework. International Journal of Mathematical, Engineering and Management Sciences, 5(6), 1032.
Anthony, M. L., Knuth, B. A., & Bruce Lauber, T. (2004). Gender and citizen participation in wildlife management decision making. Society & Natural Resources, 17(5), 395-411.
Balachandran, B., & Faff, R. (2015). Corporate governance, firm value and risk: Past, present, and future. Pacific-Basin Finance Journal, 35, 1-12.
Brennan, N. M., & Solomon, J. (2008). Corporate governance, accountability and mechanisms of accountability: an overview. Accounting, Auditing & Accountability Journal, 21(7), 885-906.
Bidabad, B. (2012). Diplomacy principles: An Islamic Sufi approach–continuation. International Journal of Law and Management.
Bossu, W., and A. Rossi. 2019. The Role of Board Oversight in Central Bank Governance: Key Legal Design Issues. IMF Working Paper WP/19/293. The International Monetary Fund, Washington, DC, USA.
Brownbridge, M. (2007). Aid and fiscal deficits: lessons from Uganda on the implications for macroeconomic management and fiscal sustainability. Development Policy Review, 25(2), 193-213.
Coulter, M. K. (2010). Strategic management in action.
Croci, S., Djankov, S., Ramalho, R., et al. 2019. Doing Business 2020: Comparing Business Regulation in 190 Economies. Washington, DC, USA: The World Bank Group.
Damodaran, A. (2007). Information transparency and valuation: can you value what you cannot see?. Managerial Finance.
Daniel, E. M., & Wilson, H. N. (2003). The role of dynamic capabilities in e-business transformation. European Journal of Information Systems, 12(4), 282-296.
Davis, J. H., Schoorman, F. D., & Donaldson, L. (1997). The distinctiveness of agency theory and stewardship theory. Academy of Management. the Academy of Management Review, 22(3), 611.
Davis, J. H., Schoorman, F. D., & Donaldson, L. (2018). Toward a stewardship theory of management. In Business ethics and strategy (pp. 473-500). Routledge.
Davis, P. L., (2018). Financial Stability and the Global Influence of EU Law.
University of Oxford - Faculty of Law; European Corporate Governance Institute (ECGI.
Defond, M. L., & Hung, M. (2004). Investor protection and corporate governance: Evidence from worldwide CEO turnover. Journal of Accounting Research, 42(2), 269-312.
Denis, D. K., & McConnell, J. J. (2003). International corporate governance. Journal of financial and quantitative analysis, 1-36.
Fourier, D Prof. (2006). Good Governance in ensuring sound public financial management. University Pretoria. Lecture paper
Freeman, R., & Rodgers, C. B. (2006). Volunteer Police, choosing to Serve: Exploring, Comparing, and Assessing Volunteer Policing in the United States and the United Kingdom. Routledge.
Gaiku, P. G. T., Lewa, P. M., & Senaji, T. A. (2016). Corporate governance and performance of health sector non-governmental organizations in Nairobi County. Corporate Governance, 8(12).
Gallagher, D. R., & Nadarajah, P. (2004). Top management turnover: An analysis of active Australian investment managers. Australian Journal of Management, 29(2), 243-274.
Guesalaga, R., & Johnston, W. (2010). What's next in key account management research? Building the bridge between the academic literature and the practitioners' priorities. Industrial Marketing Management, 39(7), 1063-1068.
Guilding, C., Cravens, K. S., & Tayles, M. (2000). An international comparison of strategic management accounting practices. Management Accounting Research, 11(1), 113-135.
Hart, A., Northmore, S., & Gerhardt, C. (2009). Briefing paper: Auditing, benchmarking and evaluating public engagement. NCCPE Research Synthesis, 1, 1-48.
Havel, V., & Keane, J. (2016). The Power of the Powerless: Citizens Against the State in Central Eastern Europe: Citizens Against the State in Central Eastern Europe. Routledge.
Ingley, C., Mueller, J., & Cocks, G. (2011). The financial crisis, investor activists and corporate strategy: will this mean shareholders in the boardroom?. Journal of Management & Governance, 15(4), 557-587.
Kaplan, R. S., Robert, N. P. D. K. S. (2001). The strategy-focused organization: How balanced scorecard companies thrive in the new business environment. Harvard Business Press.
King, C. S., Stivers, C., & Box, R. C. (1998). Government is us: Strategies for an anti-government era. Sage.
Kusumasari, B., Alam, Q., & Siddiqui, K. (2010). Resource capability for local government in managing a disaster. Disaster Prevention and Management: An International Journal.13 (8) 96–120
La Porta, R., Silanes, F.L., Shleifer, A. and Vishny, R.W. (1997) ‘Legal determinants of external finance, Journal of Finance, 52(3) 1131 – 1150.
Mwaura, P. M. (2013). The effects of financial accountability on the performance of Non-Governmental Organizations in Kenya (Doctoral dissertation, University of Nairobi).
Nwankwo, B. C. (2004). Efficient Financial Management Approach for Provision of Social Welfare Services at the Third Tier Level of Government in Nigeria, Nigerian Journal of Public Administration and Local Government, Vol. XII, No. 1.
Obid, S. N. S., & Naysary, B. (2016). Toward a comprehensive theoretical framework for Shariah governance in Islamic financial institutions. In Islamic Finance (pp. 10-31). Palgrave Macmillan, Cham.
Ojo, O. (2009). Efficient Management for Local Governments: the Nigerian experience. Buletinul, Universitajii Petrol – gaze din Ploiesti, LXI (2/2009), 36 -44
Ojo, O. (2009). Impact assessment of corporate culture on employee job performance. Business Intelligence Journal, 2 (2), 388-397.
Shen, W. (2003). The dynamics of the CEO-board relationship: An evolutionary perspective. Academy of Management Review, 28(3), 466-476.
Transparency International. 2019a. Corruption Perceptions Index. https://www.transparency.org/en/cpi.
Transparency International. 2019b. Corruption Perceptions Index: Full Source Description. Corruption Perceptions Index.
Vitols, S., & Kluge, N. (2011). The Sustainable Company: a new approach to corporate governance (Vol. 1). ETUI.
Zaman, R., Arslan, M., & Siddiqui, M. A. (2014). Corporate governance and firm performance: the role of transparency & disclosure in banking sector of Pakistan. International letters of social and humanistic sciences, 43, 152-166.
Zhao, E. Y., Fisher, G., Lounsbury, M., & Miller, D. (2017). Optimal distinctiveness: Broadening the interface between institutional theory and strategic management. Strategic Journal, 38 (1), 93-113.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Abdikadir Abdullahi Ali, Thomas Anyanje Senaji , Douglas Ogolla Awino
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
