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Curatorship Paradox: Corporate Governance in Dilemma

机译:策展悖论:困境中的公司治理

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The Zimbabwean financial sector has witnessed financial institutions failures and placing these institutions under curatorship has been the solution. In most cases curators have not been able to bring the banks to the original position instead they have fast tracked the liquidation of these institutions. Since 2004, more than 15 financial institutions have been placed under curatorship by the Reserve Bank of Zimbabwe. Accountants have been found to be prominent appointed curators and they have been found to facilitate the liquidation of these institutions rather than resuscitating them and as a result corporate governance has been found to be in dilemma. Curatorship has been found to be a lucrative business for accountants and lawyers whose main jobs have been to facilitate the winding up of companies rather than turning them around. The costs of placing a financial institution under curator have been high to such an extent that huge sums of money have been paid which could have been channelled towards turning around it. Curators in most cases as indicated in this study have not helped financial institutions to perform better instead they have worsened it.The paper used a document review research method to show how corporate governance has been placed in dilemma by appointing accountants as curators and how they have facilitated the winding up of these institutions rather than bringing them back to position.
机译:津巴布韦的金融部门目睹了金融机构的倒闭,解决这些问题的办法就是将这些机构置于监管之下。在大多数情况下,策展人无法将银行带到原来的位置,而是迅速跟踪了这些机构的清算。自2004年以来,津巴布韦储备银行已对超过15家金融机构进行了监管。人们发现会计师是著名的任命策展人,他们被发现可以促进这些机构的清算,而不是使它们恢复活力,结果,公司治理陷入了困境。对于会计师和律师来说,担任指导职务是一项有利可图的工作,他们的主要工作是促进公司的清盘而不是扭转局面。将金融机构置于策展人之下的成本很高,以至于已经支付了巨额资金,而这笔钱本可以用于扭转这种局面。这项研究指出,在大多数情况下,策展人并没有帮助金融机构表现更好,反而使它们恶化了。本文使用文件审查研究方法,通过任命会计师为策展人,展示了公司治理如何陷入困境。促进了这些机构的清盘,而不是使其恢复原状。

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