Title: Corporate governance reforms in state enterprises and parastatals, and capital investment financing in Zimbabwe

Authors: Alexander Maune; Zakaria Chikaza

Addresses: College of Economic and Management Sciences, University of South Africa, South Africa ' Department of Finance, National University of Science and Technology, Bulawayo, Zimbabwe

Abstract: This study examines corporate governance reforms in state enterprises and parastatals, and capital investment financing in Zimbabwe through an econometric regression model. In the study, data was obtained from the World Bank, Worldwide Governance Indicators database. The results shows that the independent variables statistically significantly predicted foreign direct investment in Zimbabwe, with F (6, 11) = 4.15, p = 0.0201, R² = 0.6935 and an adjusted R² = 0.5264. The six independent variables added statistically significantly to the prediction of p < 0.05. The independent variables accounted for 52.64% of the dependent variability in foreign direct investment in Zimbabwe. This study will go a long way in influencing government policy formulation, implementation and further future research. The study will help expand the academic knowledge base and as such contribute in filling the gap that exists within the body of knowledge. This study, however, is of great importance to government, private sector and the academia.

Keywords: corporate governance; reforms; state enterprises; parastatals; capital; investments financing; Zimbabwe.

DOI: 10.1504/IJPSPM.2022.126406

International Journal of Public Sector Performance Management, 2022 Vol.10 No.4, pp.535 - 550

Received: 06 Sep 2019
Accepted: 16 Jan 2020
Published online: 26 Oct 2022 *

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