The Journal of Accounting and Management, Vol 8, No 2 (2018)

Influence of Corporate Governance Mechanisms on Quoted Banks Financial Performance: Evidence from Nigeria

Ezekiel Oluwagbemiga Oyerogba, Patrick Esemogie Idode

Abstract


This paper aims to investigate the influence of corporate governance mechanisms (board independence, ownership concentration and disclosure) on financial performance of the banks quoted on Nigeria Stock Exchange. The study also includes recommendations for boards, shareholders and regulators. The study considered the entire 21 banks listed on the Nigeria stock exchange for a ten years’ period between 2006 and 2015. The study relied on secondary data extracted from Nigeria Stock Exchange fact book and annual audited financial reports of quoted banks in Nigeria. The results of the analysis revealed that out of the three variables, only board independence has significant influence on financial performance. We therefore recommend that listed banks may improve her performance by ensuring that the recommended proportion of executive and non-executive directors appears on the company’s board of directors.


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