CORPORATE GOVERNANCE AND PERFORMANCE OF BANKS IN NIGERIA
ABSTRACT
The focus of this study is corporate governance and banking performance in Nigeria. corporate governance has been identified to mean different things to different people. The objectives of this work is to investigate if there is any significant relationship between directors equity holding and bank performance in Nigeria and also to determine empirically if there is any significant relationship between corporate governance disclosure and the financial performance of banks in Nigeria. The exploratory design (regression) approach was adopted and the computerized regression analysis using SPSS 17.0 was employed as the statistical tool. The variables for corporate governance are return on equity(ROE) and profit margin(PM) while the variables of performance of banks are board size, board composition, CEO and the audit committee. The major findings in this research is that, there is a significant relationship between directors equity holding and the performance of banks in Nigeria and also state that there is a significant relationship between corporate governance disclosure of banks in Nigeria and their performance. The researcher recommended that step s should be taken for mandatory compliance with the code of corporate governance. Also an effective legal frame work should be developed that specifies the rights and obligations of a bank ,its directors ,shareholders ,specific disclosure requirement and provide for effective enforcement of the law.
- TABLE OF CONTENTSÂ
Title Page                                                                                         i
Declaration                                                                                ii
Certification                                                                              iii
Dedication                                                                               iv
Acknowledgements                                                                    v
Abstract                                                                                    vi
Table of Contents                                                                       vii
CHAPTER ONEÂ
1.1    Background of the Study                                                   1
1.2    Statement of the Problem                                                  5
1.3    Research Questions                                                         8
1.4    Objectives of the Study                                                     8
1.5    Research Hypothesis                                                        9
1.6    Significance of the Study                                                   9
1.7    Scope and Limitation of Study                                          10
1.8    Definition of Terms                                                           11
1.9    Summary                                                                        12
1.10  References                                                                      14
CHAPTER TWO:Â LITERATURE REVIEWÂ
2.0    Conceptual Review                                                           15
2.1    What is Corporate Governance?                                        15
2.2    Corporate Governance Measures in Nigeria                        17
2.2.1 The Roles of the Board of Directors                                   18
2.2.2 Shareholders Right and Privilege                                       19
2.2.3 The Role of the Audit Committee                                       20
2.3    Corporate Governance and Bank                                       23
2.4    Elements of Corporate Governance in Banks                      28
2.4.1 Regulation and Supervision as Elements of Corporate          31
Governance in Banks
2.5    Corporate Governance Mechanisms                                  38
2.5.1 Shareholders                                                                  38
2.5.2 Deb Holders                                                                    40
2.6      Linkage between Corporate Governance and Firm Performance        44 - 2.7     The Role of Internal Corporate Governance Mechanism in
          Organizational Performance                                             46
2.7.1 Role of Auditor                                                                47
2.7.2 Role of Board of Directors Composition                              47
2.7.3 Role of Chief Executive Officer                                          49
2.7.4 The Role of Board Size                                                    51
2.7.5 Role of CEO Duality                                                        52
2.7.6 Role of Managers                                                             52
2.8    Regulatory Environment for Banks in Nigeria                       54
2.9    Theoretical Review                                                           57
2.9.1 Stakeholder Theory                                                         58
2.9.2 Stewardship Theory                                                         60
2.9.3 Agency Theory                                                                63
2.9.4 Agency Relationship in the Context of the Firm                  65
2.11  Summary                                                                       71
References                                                                              72
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