The evolution of Corporate Governance and consequent Domestication in Kenya

A paper presentation at the 3rd East African Multidisciplinary Research Conference (EAMARC III) held at the United States International University- Africa, 15th -17th November, 2016.Governance - determines the exercise of power in the management of economic and social resources for sustainable human development Corporate Governance - ‘the system’ by which companies are directed, organized and controlled’ Influences growth in financial markets, plays central role in performance, capital formation, maximization of shareholder value and protection of investors’ rights The paper traces evolution of CG principles and practices, via the committees that produced Cadbury, Greenbury, Hampel, Higgs Reports, the Combined Code of CG, and the Organisation for Economic Co-operation and Development (OECD) These developments influenced the introduction and growth of CG principles and best practices in Sub-Saharan Africa and Kenya Led to the promulgation of the guidelines on principles of corporate governance for public listed companies in 2002 by the Kenyan Capital Market Authority The purpose of the paper is to analyze historical development of CG, with specific reference to the sequential development of CG in the United Kingdom, OECD, Sub-Saharan Africa, and Kenya The paper analyzes the nature of corporate governance guidelines and practices introduced in each epoch from pre-1900s to the 21st Centur