Chapter 12: Cost, Issues and Hindrances for Implementing Corporate Governance in SMEs

Academic research is now moving toward understanding best practices that may be coped up by small and medium-sized enterprises (SMEs) to increase their performance. However, the implementation of CG is not free from cost and other prevalent issues that create hindrances in the implementation of CG practices in SMEs. However, there is a lack of literature related to these issues and costs that may hinder in implementation of effective CG practices. There is also a need to incorporate new theory with the literature of corporate governance to define cost, issues and hindrances in the process of corporate governance of SMEs. Hence, this chapter is written purposively to describe these limiting factors concerning SMEs to increase research and improve policymaking. Therefore, the significance of this study has several folds, and with epistemology as the base of the study, this work is a rare study that tends to improve academia, research and policy-making.