The evolution of the stakeholder-inclusive approach in the King Reports

Abstract

Purpose The purpose of this paper is to provide the reader with a high-level overview of the key messages of each of the four King Reports on Corporate Governance for South Africa, published during the period from 1994 to 2017, with a particular focus on the stakeholder-inclusive approach. While confirming the constant themes and messages, it also highlights the unique features and attributes of each of these reports. Design/methodology/approach This paper is based on a review and comparison of the four King Reports of Corporate Governance for South Africa with a particular focus on the stakeholder-inclusive approach. Findings The key findings of this paper are: the concept of “stakeholder inclusivity” is a common theme across all four the King Reports forming part of the review while, at the same time, having a unique flavour in each of the reports and visibly developing over the years. The reliance on human intervention and ethical leaders to appropriately and effectively steer the stakeholder-inclusive approach is obvious. In the absence of this, no corporate governance code will provide adequate safeguards to stakeholders against corporate failures and disasters, whether in South Africa or anywhere else. Originality/value This paper is a part of a special issue which looks at the contribution of the King Reports to governance globally.