Title: Corporate governance practices in publicly quoted companies in Nigeria

Authors: Chris Ogbechie, Dimitrios N. Koufopoulos

Addresses: Lagos Business School, Pan African University, 2, Ahmed Onibudo Street, Victoria Island, Lagos, Nigeria. ' Brunel Business School, Brunel University, Uxbridge, Middlesex UB8 3PH, UK

Abstract: This study evaluates corporate governance issues in publicly quoted companies in Nigeria, which border on board characteristics, composition and roles in strategy development processes, appraisal of directors, as well as relationships between boards and CEO, top management and other stakeholders. The empirical findings of the study reveal useful insights with respect to corporate governance practices in Nigeria. The results show that Nigerian public companies have embraced the principles of good corporate governance, although they are at different levels of adoption of the various corporate governance issues. These companies have medium-sized boards, with majority of them having leadership structures that are characterised by separation of the positions of chairman and CEO. This paper draws a number of conclusions and recommendations and also highlights some limitations that can be improved upon in future studies.

Keywords: corporate governance; publicly quoted companies; board characteristics; board appraisal; board relationships; board strategic involvement; business governance; Nigeria.

DOI: 10.1504/IJBGE.2007.015206

International Journal of Business Governance and Ethics, 2007 Vol.3 No.4, pp.350 - 381

Published online: 26 Sep 2007 *

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