The recent corporate scandals have placed the corporate governance systems under closer scrutiny than ever. Many companies have plunged in recent years reducing shareholders value drastically in most cases and investment as a result. This has negatively affected both developed and less developed economies. Multiple directorships have been identified as one of the issues that can enhance or destroy shareholders value. However, New Zealand practises self-discipline as far as multiple directorships is concerned. In New Zealand firms enjoy an institutional environment where corporate governance...