IntroductionThe South Pacific Stock Exchange (hereinafter SPSE) also adopted a principles-based corporate governance code in 2009 with a view to improving investor participation and confidence in the capital market in Fiji. Section 6.42 of the SPSE Listing Rules requires all listed companies to comply with the Corporate Governance Code as stipulated in the Corporate Governance Principles and Reporting Guidelines of the Reserve Bank of Fiji (hereinafter after RBF) (SPSE, 2010). Corporate governance is the general term that describes the process, laws, policies, customs and institutions that provide guidance to organizations and businesses in the way they manage, operate and control their operations. It deals with the relationships between stakeholders and strives to achieve the objective of the organization. Likewise, it deals with the responsibility of individuals through a method that reduces the principal-agent problem in the organization. Good corporate governance is a crucial standard for establishing the favorable investment environment that competitive companies need to gain a strong position. ...