Effect of Management Principles on Investors in the Nigerian Ban king Industry

Okoro, Chineme Blessing and Adekitan, Rasheed A kanfe (2016) Effect of Management Principles on Investors in the Nigerian Ban king Industry. International Journal of Scholarly Research, 11 (1). pp. 26-36.

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Abstract

The objective of this study was to ascertain the extent to which adherence to corp orate governance principles attract investors to the banking industry in Nigeria. The target population (1 ,500) of this study included senior, junior and top management o f the four selected banks in Enugu, namely: First Bank of Nigeria Plc, United Banks for Africa, Diamond Bank Plc and Eco Bank located in Enugu metropolis. Based on the above population, th e sample size (316) for this study was determined using Taro Yamani’s formula. The study showed that 600 (46 %) indicated agreement while 244 (18%) indicated disagreement as regards adherence to corporate governance principle s and attracting investors to the Nigerian banking industry. The finding at the end of the study indicate that adherence to corporate governance does significantly attract investors to the banking industry (Zcal = 5.24 > Zcritical=1.96, p < 0.05). The study concludes that adherence to corporate governance does attract and has positive impact on attract investors to the banking industry. Corporate manager s in the Nigerian banking industry are significantly adhering to t he principles of good corporate governance and this has reflected on the positive returns o n investment in the industry. There i need to strengthen the anti‐ corruption war in the banking industry so that investors will have m ore confidence in the system. Corporate managers should be recruited based on skills, experiences and qualification rather than personal connections or volume of cash, attracted to the bank, because when mediocre are in position of authority, it drags the system backward, but when the right people are in the right place, there is always room for better performance.

Item Type: Article
Subjects: H Social Sciences > HJ Public Finance
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 25 Apr 2019 14:50
Last Modified: 25 Apr 2019 14:50
URI: http://eprints.gouni.edu.ng/id/eprint/1304

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