Cecilia Adurayemi Adu (PhD)


Corporate governance is concerned with the reconciliations of conflicts among various corporate stakeholders thus the major focus of this study was on the effect of corporate governance on the financial performance of quoted companies in Nigeria. The objectives of the study were to examine the relationship board independence and firm’s financial performance and to examine the relationship between ownership concentration (shareholdings) and firm’s financial. Secondary data were obtained on variables such as percentage of shareholdings, board independence and performance indicators such as ROA, and ROE and other firm’s characteristics such as ownership and firm size from 2001-2015 were sourced from the Nigerian Stock Exchange bulletins. The study revealed a significant positive relationship between foreign board of director, CEO’s tenure, insider’s ownership concentration, return on assets and return of equity. It was recommended that every company must practise good corporate governance to avoid scandal. The directors should comply with corporate governance in order to generate the confidence of shareholders and the public as well as act within the best interest of shareholders. 


ROA, ROE, financial performance, ownership concentration and corporate governance

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