Extend Of Adoption Of Corporate Governance Practices In Public Secondary Schools In Kisumu Central Sub-County, Kenya

Abstract

Corporate governance is an important concept and is defined as the process and structures used to direct and manage business affairs of the company towards enhancing prosperity and corporate accounting. This implies the way schools are run and managed by the Board of Management (BOM) through the secretary who is the Principal and the chief executive officer. In the light of this, the BOM, head teachers, teachers, parents and students come in to interact in one way or the other. Mismanagement of such institutions has been cited. Some of the Principals in Kisumu County have either been reshuffled or demoted due to overstay and mismanagement in attempt to sort out governance issues. The objective of this study is to determine the extent of adoption of corporate governance in public Secondary schools in Kisumu Central Sub-county. The study adopted a descriptive survey design. Data was collected by use of questionnaires. Stratified random sampling was used to select the schools in type of day; boarding; and both day and boarding schools. The study sample comprised of fifty respondents drawn from ten out of twenty two schools. The study was also guided by three theories affecting corporate development, that is, stewardship; stakeholders; and agency theories. Data was analyzed through descriptive statistics. Results indicated that Leadership; Institution’s communication; and Strategy and values were found to be incorporated to large extent. Appointment to the board and financial accountability were found to be practiced to a small extent.