Ceo power, board monitoring, board diversity and firm performance in Nigeria

CEO opportunistic tendency is one of the key issues that agency theory attempts to resolve by suggesting a better board structure that is good enough to monitor the firm‟s executives. Stewardship theory holds an opposing view. Other theories including resource dependence, resource base and social ne...

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Main Author:	Sani, Saidu
Format:	Thesis
Language:	eng eng eng
Published:	2021
Subjects:	HD2709-2930.7 Corporations
Online Access:	https://etd.uum.edu.my/9461/1/Depositpermission-not%20allow_s901391.pdf https://etd.uum.edu.my/9461/2/s901391_01.pdf https://etd.uum.edu.my/9461/3/s901391_02.pdf
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id	my-uum-etd.9461
record_format	uketd_dc
spelling	my-uum-etd.94612022-08-07T04:35:27Z Ceo power, board monitoring, board diversity and firm performance in Nigeria 2021 Sani, Saidu Wan Hussin, Wan Nordin Kamardin, Hasnah Tunku Puteri Intan Safinaz School of Accountancy (TISSA) Tunku Puteri Intan Safinaz School of Accountancy (TISSA) HD2709-2930.7 Corporations CEO opportunistic tendency is one of the key issues that agency theory attempts to resolve by suggesting a better board structure that is good enough to monitor the firm‟s executives. Stewardship theory holds an opposing view. Other theories including resource dependence, resource base and social network theories provide useful explanation of CEO and board in relation to firm outcomes. This study investigates the effect of CEO power, board monitoring and board diversity on firm financial performance. Analyses are made using secondary data from listed firms in Nigeria from 2011 to 2016. Four objectives of this study are: to investigate the effect of CEO power on firm financial performance; to investigate the effect of board monitoring on firm financial performance; to examine the moderating effect of board independence on the relationship between CEO power and firm financial performance; and to investigate the relationship between board diversity on firm financial performance. The results show that CEO power as a composite function does not affect firm financial performance but four CEO power indicators, in particular, CEO duality, insider, education and financial expertise are positively related to firm financial performance. The result also shows that board interlocking improves firm financial performance. Foreign directors are also important for a board in that they improve firm financial performance. There are three contributions of this study. First, it offers theoretical contribution by testing multiple theories in the CEO power studies and using the resource dependency theory on board international diversity in Nigeria. Second, this study contributes by providing new empirical evidence from Nigeria which includes the relationship between CEO power and firm financial performance. Third, this study contributes to the research design by using interaction model and composite function in examining the CEO power and firm financial performance 2021 Thesis https://etd.uum.edu.my/9461/ https://etd.uum.edu.my/9461/1/Depositpermission-not%20allow_s901391.pdf text eng staffonly https://etd.uum.edu.my/9461/2/s901391_01.pdf text eng staffonly https://etd.uum.edu.my/9461/3/s901391_02.pdf text eng staffonly other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng
advisor	Wan Hussin, Wan Nordin Kamardin, Hasnah
topic	HD2709-2930.7 Corporations
spellingShingle	HD2709-2930.7 Corporations Sani, Saidu Ceo power, board monitoring, board diversity and firm performance in Nigeria
description	CEO opportunistic tendency is one of the key issues that agency theory attempts to resolve by suggesting a better board structure that is good enough to monitor the firm‟s executives. Stewardship theory holds an opposing view. Other theories including resource dependence, resource base and social network theories provide useful explanation of CEO and board in relation to firm outcomes. This study investigates the effect of CEO power, board monitoring and board diversity on firm financial performance. Analyses are made using secondary data from listed firms in Nigeria from 2011 to 2016. Four objectives of this study are: to investigate the effect of CEO power on firm financial performance; to investigate the effect of board monitoring on firm financial performance; to examine the moderating effect of board independence on the relationship between CEO power and firm financial performance; and to investigate the relationship between board diversity on firm financial performance. The results show that CEO power as a composite function does not affect firm financial performance but four CEO power indicators, in particular, CEO duality, insider, education and financial expertise are positively related to firm financial performance. The result also shows that board interlocking improves firm financial performance. Foreign directors are also important for a board in that they improve firm financial performance. There are three contributions of this study. First, it offers theoretical contribution by testing multiple theories in the CEO power studies and using the resource dependency theory on board international diversity in Nigeria. Second, this study contributes by providing new empirical evidence from Nigeria which includes the relationship between CEO power and firm financial performance. Third, this study contributes to the research design by using interaction model and composite function in examining the CEO power and firm financial performance
format	Thesis
qualification_name	other
qualification_level	Doctorate
author	Sani, Saidu
author_facet	Sani, Saidu
author_sort	Sani, Saidu
title	Ceo power, board monitoring, board diversity and firm performance in Nigeria
title_short	Ceo power, board monitoring, board diversity and firm performance in Nigeria
title_full	Ceo power, board monitoring, board diversity and firm performance in Nigeria
title_fullStr	Ceo power, board monitoring, board diversity and firm performance in Nigeria
title_full_unstemmed	Ceo power, board monitoring, board diversity and firm performance in Nigeria
title_sort	ceo power, board monitoring, board diversity and firm performance in nigeria
granting_institution	Universiti Utara Malaysia
granting_department	Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
publishDate	2021
url	https://etd.uum.edu.my/9461/1/Depositpermission-not%20allow_s901391.pdf https://etd.uum.edu.my/9461/2/s901391_01.pdf https://etd.uum.edu.my/9461/3/s901391_02.pdf
_version_	1747828601030443008

Ceo power, board monitoring, board diversity and firm performance in Nigeria

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