– Corporate Government and Organizational Performance –
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ABSTRACT
This study was aimed at assessing the impact of corporate management on organizational performance: A case study of commercial banks in Uyo, Akwa Ibom State.
To achieve this, survey research method was employed. Respondents were drawn from five selected commercial banks in Uyo.
A total of 120 respondents were drawn using simple random sampling techniques. Three research hypotheses were also set to give the study a focus.
A total of 120 questionnaires were administered on the respondents and 118 were retrieved representing 98.33%.
Data obtained were analysed using arithmetic mean rating and chi-square to test the postulated hypotheses. Findings revealed that the corporate governance has a significant impact on organizational performance.
To this end, the researcher recommended that business organizations should imbibe corporate governance and should entrench ethical behaviours, collective orientation as well as disclosure of timely information to stakeholders in order to boost confidence which will ultimately result in increase performance of organizations.
INTRODUCTION
Over the years, keen interest has always been on engendering performance that will ultimately culminate in growth and continuous patronage.
It has become a worldwide dictum that the quality of corporate governance makes an important difference to the soundness and unsoundness of business organizations.
Broadly speaking, corporate governance refers to the extent to which companies are run in an open and honest manner (Sanusi, 2003).
Thus, effective corporate governance practice incorporates transparency, openness, accurate reporting and compliance with statutory regulations among others.
Historically, antecedents indicate that financial crisis is a direct consequence of lack of good corporate governance; invariably one of the sources of instability in the business organization is lack or inadequate practice of corporate governance.
Wherever power is exercised to direct, control and regulates activities that affect people, there is need for good exercise of such power.
For corporate entities, particularly public liability companies, the exercise of power over the enterprise’s direction, the supervision and control of executive actions,
REFERENCES
Afolabi, A. & Amupitan M. D., (2015). Corporate Governance in the Nigerian Banking Sector: Issues and Challenges. European Journal of Accounting Auditing and Finance Research Vol.3, No.5, pp.64-89.
Agrawal, A. and C. Knoeber, (1996): Firm Performance and Mechanisms to Control Agency Prob1ms between Managers and Shareholders, Journal of Financial and Quantitative Analysis.
Akintoye 1. R (2010), Corporate Governance and Reporting, Paper presentation at Interactive Forum for Accountants organized by ICAN, Ikeja Lagos.
Anya, 0. A. (2003). Corporate Governance as an Effective Tool for Combating Financial and Economic Crimes. The Nigerian Bankers. October-December.
Arun, T. G. & Turner, J. D., (2002): Corporate Governance of Banking Institutions in Developing. Advisory Group on Corporate Governance (AGCG) Report on Corporate Governance and International Standards, Reserve Bank of India.
Donaldson L. & Davis J. H. (1994): Toward a Stewardship Theory of Management. Academy of Management Review, Vol. 22, 20-37.
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