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Corporate Governance and Performance of Nigerian Deposit Money Banks

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Abstract

The recent financial scandals experienced in the financial sector by way of abysmal performance of deposit money banks in Nigeria caused a national concern among critical actors including the academia. The concern sprouted the need for investigation, and this form the crux of using the Generalized Method of Moments to look at the influence of corporate governance on performance of deposit money banks in Nigeria from 2011 to 2020. Corporate governance of deposit money banks was assessed by board size, board composition, company size, and director's stock or interest, whilst performance was measured by return on shareholder funds. According to the findings, board size has a positive but insignificant impact on shareholder fund return, board composition has a positive and significant impact on shareholder fund return, directors' equity or interest has a positive and significant impact on shareholder fund return, and company size has a negative and significant impact on shareholder fund return. Corporate governance has a significant influence on deposit money bank performance in Nigeria, according to the research; nevertheless, the board composition of directors (membership) should be increased, but not above the maximum allowed by the bank's corporate governance regulation.

Suggested Citation

  • Niyi S., Awotomilusi, & Olatunde Matthew, Ajoloko,, 2022. "Corporate Governance and Performance of Nigerian Deposit Money Banks," Multidisciplinary Journal of Management Sciences, Association of Forensic Accounting Researchers (AFAR), vol. 4(2), pages 26-38, June.
    • Handle: RePEc:ris:amjoms:0053
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    File URL: https://www.afarng.org/wp-content/uploads/2022/12/MJMS-Vol.-4-Issue-2-June-2022.pdf
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    More about this item

    Keywords

    Corporate governance; Deposit money banks; Board size; Board composition;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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