Title: Unravelling the profit puzzle: how corporate governance shapes the success of Nigerian deposit money banks

Authors: Wisdom Okere; Nkiruka Ifekwem; Imeokparia Lawrence; Bamigbaiye-Elatuyi Omotola; Abiola John

Addresses: Department of Accounting, Bells University, Ota, Ogun State, Nigeria ' Department of Accounting, Bells University, Ota, Ogun State, Nigeria ' Department of Accounting, Bells University, Ota, Ogun State, Nigeria ' University of Lagos, Lagos, Nigeria ' Department of Accounting, Bells University, Ota, Ogun State, Nigeria

Abstract: Due to the prominent failures of significant financial companies during the last decade of the twentieth century, both regulators and investors have become more concerned with corporate governance regulations and guidelines. This study examined the impact of corporate governance on the market performance (TOBINQ) of listed deposit money banks in Nigeria. The study employed secondary data, descriptive and correlation analysis, Hausman test and panel ordinary least square regression analysis to achieve the research objective. The study revealed that corporate governance (board size, board independence, foreign directorship and board diligence) has a significant effect on the market performance of quoted deposit money banks in Nigeria. This study recommends that policymakers and regulatory agencies should work together to help banks boost their performance by promoting the establishment of an efficient system for CG disclosure.

Keywords: sustainability; corporate governance; TOBINQ; financial institution; board diligence.

DOI: 10.1504/IJRM.2024.142327

International Journal of Revenue Management, 2024 Vol.14 No.3, pp.264 - 279

Received: 24 Apr 2024
Accepted: 21 Jul 2024
Published online: 21 Oct 2024 *

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