عنوان

Evaluation of corporate governance in Nigeria

Number

TLets519382

Title Proper

Evaluation of corporate governance in Nigeria

General Material Designation

[Thesis]

First Statement of Responsibility

Angaye, Preye Edward Gesiye

Name of Publisher, Distributor, etc.

The University of Wales, Aberystwyth

Date of Publication, Distribution, etc.

2008

Dissertation or thesis details and type of degree

Ph.D.

Body granting the degree

The University of Wales, Aberystwyth

Text preceding or following the note

2008

Text of Note

This study combines qualitative and quantitative research methods to investigate thenature, actuality and environmental underpinnings of corporate governance inpublicly listed corporations in Nigeria and to ascertain whether there are linksbetween aspects of corporate governance and an economic measure of companyperformance, specifically value added intellectual capital.The empirical aspect of this study aimed at determining whether there were linksbetween corporate governance features (such as board size and composition;ownership structure; and leadership nature) and measures of company performance interms of value added and return on assets using the OLS multiple regression method.Publicly listed companies were the centre of focus in this study, with a total of 104companies listed in the Nigerian Stock Exchange (NSE) constituting the sample frame.The overall empirical results indicated there to be little overall explanatory power inthe multiple regression run and, with the exceptions of the percentage of females inthe boards of companies listed in the NSE and size of the firm being positivelyassociated with all the measures of corporate performance and gearing beingpositively associated with the measure of return on physical capital (TVAPC), veryfew significant relationships existed between the dependent and independent (whetherexplanatory or control) variables.The quantitative analysis was supplementary to the conduct of semi-structuredinterviews, which constituted the core research data collection method for this study.Interviews were conducted with key players of the Nigerian business environmentcovering commercial institutions such as banks, manufacturing companies;government agencies include the Central Bank of Nigeria; academia; and privatesector participants such as shareholders, non-executive directors, etc as keyparticipants. The interviewee sample frame was also representative geopolitically withall the major regions of the Nigerian state covered. The interview sessions covered thefollowing major themes: the meaning of corporate governance; corporate governance developmentand process in the Nigerian context; and the Nigerian business andregulatory environment. It was found that there was a reasonable level ofunderstanding amongst the interviewees of what the corporate governance conceptstands for and how it relates to the Nigerian business environment-although it wasnoted that the concept was relatively new to Nigeria. The interviewees were of theconsensus that at this stage of development in Nigeria, there was need for governmentintervention in the determination of the nature and appropriate level of corporategovernance.The study considers the extent to which the interview results are fully representativeof the true nature of the evolution of corporate governance in Nigeria against thebackground of its turbulent political past, and widespread external perceptions ofcorruption and the influence of tribal and gender stereotypes and power relationships The study concludes with some observations about corporate governance in Nigeriaand makes recommendations as to the need for the review of the Companies andAllied Matters Act, 1990. The importance to create awareness of governance issuesamongst the investing public is emphasised. Furthermore there are suggestions forpossible further research

Angaye, Preye Edward Gesiye

The University of Wales, Aberystwyth

Electronic name

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[Thesis]

276903

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