Double Celebration as Father and Son Graduate Together
It was a double celebration for the Obagbuwa family when father and son graduated during UKZN Graduation ceremonies on 6 and 7 May.
Institutional Shareholders’ Monitoring and Control Over Corporate Decisions: Evidence from JSE Listed Companies was the title of the thesis which earned Dr Oloyede Obagbuwa a Doctor of Philosophy in Finance while his son Mr Oluwadamilola Obagbuwa was awarded a Bachelor of Commerce Honours in Information Systems and Technology.
Oloyede’s study focused on key corporate decisions that tend to bring a company down if they are not monitored. It reiterated the importance of monitoring by institutional shareholders and examined why companies still fail due to scandals despite shareholders’ control. The findings show that institutional shareholders can be distracted by an event in an unrelated company, thereby limiting their monitoring intensity in the other firm and causing self-serving decisions to be made by managers. Among other things, the study recommends that institutional shareholders should invest in technology that will facilitate real-time access to information channels for prompt reaction to critical corporate decisions to mitigate against attention constraints. The study was supervised by UKZN finance experts Drs Farai Kwenda and Gbenga Akinola.
Oloyede’s interest in finance started in high school. ‘I was passionate about commercial subjects and this led to my studying Accounting at the polytechnic. I later qualified as a chartered accountant (CA). Accounting and finance are closely related, so, I decided to expand my frontiers in finance in my higher degrees,’ he said.
He has vast experience in the manufacturing and service industries which led to him rising to the position of general manager. In 2016, he started a journey in academia. Oloyede currently lectures Business Ethics in the School of Accounting, Economics and Finance. He is confident that his qualification will propel his new career in academia in the right direction and that his research will contribute to knowledge generation in the financial sector.
Oloyede is married with three children. The father and son duo received much support from Oloyede’s wife Dr Ibidun Christiana Obagbuwa who holds a PhD in Computer Science from UKZN.
Oloyede has published one of his thesis objectives and the other is in the process of publication in accredited academic journals.
Oloyede congratulated his son on his honour’s degree.
Words: Hazel Langa
Photograph: Rajesh Jantilal