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Title: The committee of management's role in the corporate governance of large Maltese cooperatives
Authors: Zammit, Stephanie (2013)
Keywords: Corporate governance
Cooperative societies -- Malta
Issue Date: 2013
Abstract: Purpose: The purpose of the study is to analyse the role of COMs in the corporate governance of large Maltese co-operatives. This includes an examination of the typical duties of the COM, an analysis of the COM's structure including the balance of skills, qualifications and relevant experience of the COM and an assessment of the implementation of modern corporate governance principles. Design: These objectives were accomplished by means of semi-structured interviews with fifteen COM representatives of the largest co-operatives in Malta and six co-operative experts. Findings: Although it was established that the majority of COM duties are sufficiently being adhered to, it was perceived that duties related to the co-operatives' social dimension are not being observed. Additionally, a skills gap was remarkably perceived in the structure of COMs. Members were noted to be consistently re-electing the same COM members year after year. The study also revealed that there was a weak relationship between COM members and the rest of the co-operative members and this undermines corporate governance. Conclusions: This study concludes that COMs are not yet in a satisfactory position to exhibit a high level of corporate governance. However, priority must first be given to amend the structure of the COMs with the purpose of building a better environment for COM members to be in a better position to adhere to their duties and practise a satisfactory level of corporate governance. This can only be done by tackling the skills gap issue and the co-operatives' social deficiency. Value: It is hoped that this study will enhance awareness on the importance of a proper corporate governance system within co-operatives so that the COM structure will improve and a better environment is created for COM members. Thus members will be more likely to abide by their duties and to implement an improved corporate governance system. Proposed recommendations include the maximum period of service of COM members to be revised, Non-members with technical knowhow to be included in the COM on a short-term basis, election to the COM to be accompanied by compulsory educational courses and social audits to be progressively introduced.
Description: B.ACCTY.(HONS)
Appears in Collections:Dissertations - FacArt - 1999-2010
Dissertations - FacEma - 2013
Dissertations - FacEMAAcc - 2013

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