Nkuna, NghamulaMunzhedzi, HarryMatome, Hosea Modipane2026-02-032026-02-032025-09-05Matome, H.M. 2025. Corporate Governance and Water Crisis: A Study of Water Boards in South Africa. . .https://univendspace.univen.ac.za/handle/11602/3141PHD in Public ManagementDepartment of Public and Development AdministrationThe concept ‘Corporate Governance’ has been investigated intensively by academics and policy makers in the past two to three decades. This is mainly because of number of reasons, namely, global corporate governance outrages, global financial crisis in 2007 to 2008 and introduction of best code of practice for corporate governance globally and locally. The relationship between corporate governance and the water issue as a governance crisis is a topic of debate despite the wealth of study on the subject. Therefore, the study's goal was to examine the relationship between corporate governance and water crises from the viewpoints of three distinct governance scenarios: water boards that are experiencing a crisis in governance, those that are not, and those that follow strong governance practices. Similar to earlier research, "board size, board independence, board committees, board diversity, board activity, and leadership structure were measured as independent variables in corporate governance." The dependent measurements were, namely, asymmetric information; transaction cost; and Capability, Accountability and Responsiveness (CAR) including transparency which are the measurements of water crisis. A pragmatism research paradigm, which request simultaneous gathering and analysis of both qualitative and quantitative data on the same time, was employed. A Stratified Sampling technique was also employed. A questionnaire was used to gather primary data from the former Board Members of the Water Boards, former Ward Councillors and former Mayoral Executive Committee members for water and sanitation and Ward Committee members. This study utilised corporate governance models to establish the association that exist between corporate governance and water crisis. To this date, a sample of nine (9) water boards with various governance situations were examined with the combination of structural equation model and regression analysis. Two crucial facts come out from the results of the study, firstly, corporate governance variables performed differently in different governance situations. To certain extent, some corporate governance variables had a positive effect on water crisis through non-governance crisis and provided evading mechanisms during governance crisis. The results of the study also indicated a key issue, which motivated the needs to reassess corporate governance not only during non-governance crisis, but also during the governance crisis situations. Second, the stewardship theory appeared to be supported by capability, accountability, and responsiveness (CAR), including transparency, whereas the agency and resources reliance theories appeared to be supported by asymmetric knowledge and transaction costs. This showed that CAR including transparency viewed self-governed boards as adding no value to the water boards, while both asymmetric information and transaction cost viewed independent boards as a means of bring new skills and resources that the Executive Management of the water boards does not have. On the same note, independent boards ensured good governance practice and reduces the corporate governance problems between agents and principals. Furthermore, good corporate governance practice “perceived large board, board activity, board committee and leadership structure to be structures that could provide adequate monitoring and reduce agency problems”. Like some of the previous studies in corporate governance literature that documented diverse results for asymmetric information and transaction cost, this study also proved that, in some instances, asymmetric information and transaction cost provided conflicting outcomes as the two pointers used to measure governance from different situations. In case of nature of governance, the findings of both regression analysis and factor analysis concluded that the relationship between corporate governance and water crisis differs based on the nature of governance. For example, in consistent with the stewardship theory in the case of water boards without governance crisis, board independence ad an insignificant relationship with water crisis. These results imply that independent non-executive directors did not add any value to the improvement of day-to-day operation of the water boards as executive directors knows better than them. In this case and contradictory to the King IV report, it would be logical to more administrative staff than independent oversight structure.1 online resource (xviii, 202 leaves)enUniversity of VendaUCTD354.360968Water - supply -- South AfricaWater -- South AfricaHydrology -- South AfricaThesisMatome HM. Corporate Governance and Water Crisis: A Study of Water Boards in South Africa. []. , 2025 [cited yyyy month dd]. Available from:Matome, H. M. (2025). <i>Corporate Governance and Water Crisis: A Study of Water Boards in South Africa</i>. (). . Retrieved fromMatome, Hosea Modipane. <i>"Corporate Governance and Water Crisis: A Study of Water Boards in South Africa."</i> ., , 2025.TY - Map AU - Matome, Hosea Modipane AB - The concept ‘Corporate Governance’ has been investigated intensively by academics and policy makers in the past two to three decades. This is mainly because of number of reasons, namely, global corporate governance outrages, global financial crisis in 2007 to 2008 and introduction of best code of practice for corporate governance globally and locally. The relationship between corporate governance and the water issue as a governance crisis is a topic of debate despite the wealth of study on the subject. Therefore, the study's goal was to examine the relationship between corporate governance and water crises from the viewpoints of three distinct governance scenarios: water boards that are experiencing a crisis in governance, those that are not, and those that follow strong governance practices. Similar to earlier research, "board size, board independence, board committees, board diversity, board activity, and leadership structure were measured as independent variables in corporate governance." The dependent measurements were, namely, asymmetric information; transaction cost; and Capability, Accountability and Responsiveness (CAR) including transparency which are the measurements of water crisis. A pragmatism research paradigm, which request simultaneous gathering and analysis of both qualitative and quantitative data on the same time, was employed. A Stratified Sampling technique was also employed. A questionnaire was used to gather primary data from the former Board Members of the Water Boards, former Ward Councillors and former Mayoral Executive Committee members for water and sanitation and Ward Committee members. This study utilised corporate governance models to establish the association that exist between corporate governance and water crisis. To this date, a sample of nine (9) water boards with various governance situations were examined with the combination of structural equation model and regression analysis. Two crucial facts come out from the results of the study, firstly, corporate governance variables performed differently in different governance situations. To certain extent, some corporate governance variables had a positive effect on water crisis through non-governance crisis and provided evading mechanisms during governance crisis. The results of the study also indicated a key issue, which motivated the needs to reassess corporate governance not only during non-governance crisis, but also during the governance crisis situations. Second, the stewardship theory appeared to be supported by capability, accountability, and responsiveness (CAR), including transparency, whereas the agency and resources reliance theories appeared to be supported by asymmetric knowledge and transaction costs. This showed that CAR including transparency viewed self-governed boards as adding no value to the water boards, while both asymmetric information and transaction cost viewed independent boards as a means of bring new skills and resources that the Executive Management of the water boards does not have. On the same note, independent boards ensured good governance practice and reduces the corporate governance problems between agents and principals. Furthermore, good corporate governance practice “perceived large board, board activity, board committee and leadership structure to be structures that could provide adequate monitoring and reduce agency problems”. Like some of the previous studies in corporate governance literature that documented diverse results for asymmetric information and transaction cost, this study also proved that, in some instances, asymmetric information and transaction cost provided conflicting outcomes as the two pointers used to measure governance from different situations. In case of nature of governance, the findings of both regression analysis and factor analysis concluded that the relationship between corporate governance and water crisis differs based on the nature of governance. For example, in consistent with the stewardship theory in the case of water boards without governance crisis, board independence ad an insignificant relationship with water crisis. These results imply that independent non-executive directors did not add any value to the improvement of day-to-day operation of the water boards as executive directors knows better than them. In this case and contradictory to the King IV report, it would be logical to more administrative staff than independent oversight structure. DA - 2025-09-05 DB - ResearchSpace DP - Univen LK - https://univendspace.univen.ac.za PY - 2025 T1 - Corporate Governance and Water Crisis: A Study of Water Boards in South Africa TI - Corporate Governance and Water Crisis: A Study of Water Boards in South Africa UR - ER -