EFFECT OF CORPORATE GOVERNANCE ON THE FINANCIAL PERFORMANCE OF SELECTED DEPOSIT MONEY BANKS IN NIGERIA.

By: LEJI IBUKUNOLUWA OLUWANIFEMIMaterial type: TextTextPublisher: Mountain Top University Accounting and Finance 2023Edition: Dr. OMOKEHINDE, J.ODescription: 69pSubject(s): AccountingSummary: This paper examines the effect of corporate governance on the financial performance of selected deposit money banks in Nigeria for the period (2012-2021). Data were collected from secondary sources through Central Bank of Nigeria statistical Bulletin, audited annual financial statements, Journals and business report. The effect of corporate governance was measured using board independence, audit committee, gender diversity, board size and audit tenure. Return on asset was regressed on Board independence, Audit committee, Gender diversity, Board size and audit tenure using simple linear regression analysis. Board independence has insignificant but positive relationship with bank performance (P- value > 0.05, P=0.74, R= 0.180) , Audit committee has insignificant but positive impact on financial performance of DMBs (P- value > 0.05, P=0.489, R=0.070) , Gender diversity has insignificant and negative impact on the financial performance of DMBs (P- value > 0.05, P=0.171, R= -0.138), Board size has significant but negative impact on the financial performance of DMBs (P- value < 0.05, P<0.008, R= -0.264) and Audit tenure has insignificant and negative impact (P- value > 0.05, P=0.605, R= -0.052) in the financial performance of Deposit money banks in Nigeria.Keywords: Corporate governance; Board Independence, Audit Committee, Gender Diversity,and audittenure.
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This paper examines the effect of corporate governance on the financial performance of selected deposit money banks in Nigeria for the period (2012-2021). Data were collected from secondary sources through Central Bank of Nigeria statistical Bulletin, audited annual financial statements, Journals and business report. The effect of corporate governance was measured using board
independence, audit committee, gender diversity, board size and audit tenure. Return on asset was regressed on Board independence, Audit committee, Gender diversity, Board size and audit tenure using simple linear regression analysis. Board independence has insignificant but positive relationship with bank performance (P- value > 0.05, P=0.74, R= 0.180) , Audit committee has insignificant but positive impact on financial performance of DMBs (P- value > 0.05, P=0.489,
R=0.070) , Gender diversity has insignificant and negative impact on the financial performance of DMBs (P- value > 0.05, P=0.171, R= -0.138), Board size has significant but negative impact on the financial performance of DMBs (P- value < 0.05, P<0.008, R= -0.264) and Audit tenure has insignificant and negative impact (P- value > 0.05, P=0.605, R= -0.052) in the financial
performance of Deposit money banks in Nigeria.Keywords: Corporate governance; Board Independence, Audit Committee, Gender Diversity,and audittenure.

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