The Impact of Corporate Governance on the Performance of Manufacturing Firms in Nigeria

ODIWO Williams Omokhudu, REV. FR. Chukwuma Chukwudumebi Stephen, KIFORDU Anyibuofu Anthony Ph.D

Abstract: This paper examined the impact of corporate governance on performance of manufacturing firms in Nigeria. The study employed a cross-sectional data from a sample of thirty (30) manufacturing firms drawn from the quoted manufacturing companies in Nigeria that audited their annual financial statement from the period of 2010 to 2014. We conducted descriptive statistics, correlation and White Heteroskedasticity regression analysis for the empirical testing. The empirical findings revealed that Chief Executive Officer Shareholding has a positive and a significant impact on organizational performance at 5 % level of significance. Directors shareholding has a negative and a significant impact on organizational performance at 1 % level of significance. Board size has a positive and a significant impact on organizational performance at 1 % level of significance. Board gender has a negative and an insignificant impact on organizational performance at more than 10 % level of significance. On the basis of these findings, the study recommended excerpts that increase in Chief Executive Officer Shareholding would significantly improve organizational performance. It is also recommended that increase in Directors Shareholding would significantly lead to a decrease in organizational performance.

Keywords: Impact, Corporate governance, manufacturing, firms

How to Cite?: ODIWO Williams Omokhudu, REV. FR. Chukwuma Chukwudumebi Stephen, KIFORDU Anyibuofu Anthony Ph.D, "The Impact of Corporate Governance on the Performance of Manufacturing Firms in Nigeria", Volume 5 Issue 9, September 2016, International Journal of Science and Research (IJSR), Pages: 924-933, https://www.ijsr.net/getabstract.php?paperid=ART20161412, DOI: https://dx.doi.org/10.21275/ART20161412