The influence of the board on corporate performance: The case of Zimbabwe Electricity Supply Authority Holdings (2009 - 2013)

The aim of the study was to examine the influence of the board of directors on corporate performance at ZESA holdings. The specific objectives of the study included establishing the influence of compensation of the board on corporate performance of ZESA holdings, establishing the relationship between gender diversity and company performance as well as establishing the association between board skills diversity and company performance. The study also analysed relevant extant literature pertaining to corporate governance, theories, variables and corporate performance. Self-administered questionnaires were distributed to members of the board and management. The study adopted a quantitative approach for collecting and analysing primary data. All collected data was entered into SPSS for analysis. The findings revealed that there is no gender diversity in the board. Regression and correlations analysis showed that there is a significant positive relationship between skills and corporate performance. In addition a positive relationship was also found between gender diversity and corporate performance. However, a negative relationship was found between board compensation and corporate performance. The study recommends for efforts to improve corporate governance by focusing on gender diversity and skills diversity since these are positively related to future operating performance of the organisation. In addition, the study recommends for steps to be taken for mandatory gender mainstreaming in the organisation. In addition, an effective legal framework should be developed that specifies the need for gender diversity in the organisation and other state enterprises. It is suggested that future research should consider some of these factors in exploring the impact of corporate governance on corporate performance