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Corporate Governance Code: The Application and Effect on Sustainability of Selected Insurance Companies in Nigeria

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  • O. L. Kuye
  • A. A. Sulaimon
  • Joyce M. Odiachi

Abstract

Corporate governance as a concept operates on expectation placed on organisations to have in place processes which will promote, ensure and encourage accountability. This paper sought as its essence, to examine corporate governance code and its effect on sustainability of selected companies in the Nigerian insurance industry. With the aid of a cross-sectional survey and a structured questionnaire, the study sampled a population of 238 employees with responses was gotten from 165 accounting for about 70% response rate which were utilised. The study employed regression analysis in order to ascertain and establish the relationship existing between both the dependent and the independent variables. Study results revealed that a significant relationship exists between board size of an organisation and sustainability at (r = 0.417, p

Suggested Citation

  • O. L. Kuye & A. A. Sulaimon & Joyce M. Odiachi, 2020. "Corporate Governance Code: The Application and Effect on Sustainability of Selected Insurance Companies in Nigeria," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(1), pages 22-30, March.
    • Handle: RePEc:khe:scajes:v:6:y:2020:i:1:p:22-30
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    References listed on IDEAS

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    1. Uduak B. UBOM & Akpan J. WILLIAMS & Anthonia U. UBOM, 2017. "Microinsurance, Micro investments and Sustainable Development in Nigeria," Expert Journal of Finance, Sprint Investify, vol. 5, pages 41-48.
    2. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    3. Paul Gompers & Joy Ishii & Andrew Metrick, 2003. "Corporate Governance and Equity Prices," The Quarterly Journal of Economics, Oxford University Press, vol. 118(1), pages 107-156.
    4. Pugliese, A. & Bezemer, P.J. & Zattoni, A. & Huse, M. & van den Bosch, F.A.J. & Volberda, H.W., 2009. "Boards of Directors’ Contribution to Strategy: A Literature Review and Research Agenda," ERIM Report Series Research in Management ERS-2009-013-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    5. Akpan J. WILLIAMS & Anthonia U. UBOM & Uduak B. UBOM, 2017. "Microinsurance, Micro investments and Sustainable Development in Nigeria," Expert Journal of Finance, Sprint Investify, vol. 5(1), pages 41-48.
    6. Elena Giovannoni & Giacomo Fabietti, 2013. "What Is Sustainability? A Review of the Concept and Its Applications," Springer Books, in: Cristiano Busco & Mark L. Frigo & Angelo Riccaboni & Paolo Quattrone (ed.), Integrated Reporting, edition 127, chapter 2, pages 21-40, Springer.
    7. Alix Valenti, 2008. "The Sarbanes-Oxley Act of 2002: Has It Brought About Changes in the Boards of Large U. S. Corporations?," Journal of Business Ethics, Springer, vol. 81(2), pages 401-412, August.
    8. Abdul-Nasser El-Kassar & Walid Elgammal & Mirna M. Bayoud, 2014. "Effect of internal audit function on corporate governance quality: evidence from Lebanon," International Journal of Corporate Governance, Inderscience Enterprises Ltd, vol. 5(1/2), pages 103-117.
    9. Aiwanehi Barbara Ofuani & Abdul-Hameed Adeola Sulaimon & Sunday Abayomi Adebisi, 2018. "Corporate Governance Practices: A Comparative Study of Selected Public Corporations in Nigeria," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 4(1), pages 192-202, March.
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    Cited by:

    1. Joyce M. Odiachi & Owolabi L. Kuye & Abdul-Hameed A. Sulaimon, 2021. "Driving Organisational Sustainability in the Nigerian Insurance Sector: The Role of Competitive Intelligence," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 71(1-2), pages 37-54, January-J.

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    More about this item

    Keywords

    Corporate governance code; sustainability; audit committee; board of directors; insurance;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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