THE IMPACT OF CORPORATE GOVERNANCE ON FIRMS’ PERFORMANCE IN NIGERIA (A CASE STUDY OF 5 NON FINANCIAL FIRMS)

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ABSTRACT

This study examines the relationship between corporate governance and firm performance in

Nigeria. The study was able to determine, among other, how corporate governance has

dominated policy agendas in developed market economies for more than a decade. The data

used for this study were derived from the audited financial statements of the firms listed on the

Nigerian Stock Exchange (NSE) between 2006 and 2010. The sample of the firms were selected

using the combination of non- probability sampling technique (firms with the required

information were initially selected) and stratified random technique (firms were then selected

based on their sectoral classification). A total of 5 non- financial firms were finally used as

sample. Panel data methodology was adopted because it combined time series and cross

sectional data. The method of analysis is that of multiple regressions and the method of

estimation is Ordinary Least Squares (OLS). The value of the R2

for the two analyses (PM on

other variables on one hand and ROE on other variables on the other hand) reveals that the

explanatory variable explains 90.42% and 78.67% of the variation in the dependent variable. It

is recommended that there is need to examine the relationship between firm performance

measures when leverage is introduced in order make the outcome of the research to be more

robust.

TABLE OF CONTENT

Title Page i

Certification ii

Dedication iii

Acknowledgement iv

Table of Content v

Abstract vii

CHAPTER ONE: INTRODUCTION

1.0 Background of the study

1.1 Statement of Problem

1.2 Objectives of the study

1.3 Research questions

1.4 Statement of hypothesis

1.5 Justification for study

1.6 Source of data and research methodology

1.7 Scope and limitation of the study

1.8 Definition of term

1.9 Plan of the study

CHAPTER TWO: LITERATURE REVIEW

2.1 Theoretical framework

2.2 Conceptual framework

2.2.1 Corporate governance and firm performance

2.2.2 Managerial characteristics and firm performance

2.2.3 Corporate governance and control

2.3 Brief literature review

2.4 Historical background of some of the case study

CHAPTER THREE: RESEARCH METHODOLOGY

3.0 The study area

3.1 Population of the study

3.2 Sampling design

3.3 Research design

3.4 Model specification

3.5 A priori expectation

3.6 Method of data analysis

CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1 Introduction

4.2 Data Presentation

4.3 Test of Hypotheses

4.4 Interpretation of Result

CHAPTER FIVE: SUMMARY CONCLUSION AND RECOMMENDATIONS

5.0 Summary of the Finding

5.1 Conclusion of the Study

5.3 Recommendations

Bibliography

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THE IMPACT OF CORPORATE GOVERNANCE ON FIRMS’ PERFORMANCE IN NIGERIA (A CASE STUDY OF 5 NON FINANCIAL FIRMS)

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