This paper examines the concept of corporate governance from a historical perspective. The paper explores how the agency theory and stewardship theory affect corporate governance practices. The focus of the paper is on public universities in Kenya. An extensive review of literature indicates that the ideals of good corporate governance have been adopted by developing countries since the 1980s. Developing countries differ from developed countries in a wide variety of ways. Therefore, there is need for developing countries to develop their own corporate governance models that consider the cultural, political and technological conditions found in each country. This paper explores the challenges encountered by developing countries in the process of adopting the corporate governance ideals. The authors have identified knowledge gaps in corporate governance that can form the basis for future research projects.

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/ authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -This paper aims to explore the need for organizations to adopt organizational development (OD) programs on a continuous basis as a way of coping with a changing business environment. Emphasis is to be laid on organizational learning due to its significance in enhancing organizational change and development.Design/methodology/approach -The paper is based on an extensive literature review.Findings -A wide range of organizational development (OD) intervention strategies exists. There is a need to adopt a coordinated approach in applying OD efforts for organizations to reap maximum benefits. Research limitations/implications -This paper is theoretical and is not based on empirical findings.Practical implications -Several recommendations are included in the paper. It is envisaged that adoption of the recommendations can assist an organization to achieve a sustainable competitive advantage.Originality/value -The paper identifies several OD frameworks that can be tested in future research projects.

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Purpose – The purpose of this paper is to explore the corporate governance practices adopted by public universities in Kenya, itself a developing country. Corporate governance practices in Africa, especially the sub-Saharan part, are weak and limited research has been done in this area. Design/methodology/approach – The researcher adopted the realism paradigm and relied on qualitative data obtained from five case study organizations. A total of 15 informants were interviewed. The data were recorded, transcribed and subjected to content analysis using the NVIVO software. Findings – The researcher established that the governance of the said institutions is constrained by numerous challenges that include, among many others, large student numbers, overstretched facilities, insufficient government support, inadequate induction of new staff, resistance to change and cultures that support impunity on the part of some non-performing employees. Practical implications – This research recommends several strategies that can be used to improve the governance of the said institutions and, by extension, that of similar institutions in developing countries. Originality/value – The study provides empirical evidence to support the proposition that different corporate governance theories, such as the stakeholders theory, political theory and resource dependency theory, can be used simultaneously by the same firm. On this basis, the research suggests the adoption of a combined theory of corporate governance.