Nexus between Accountability to Investors and Corporate Managers in the Nigerian Banking Industry

Okoro, Chineme Blessing and Adekitan, Rasheed Akanfe (2016) Nexus between Accountability to Investors and Corporate Managers in the Nigerian Banking Industry. International Journal of Sustainable Development, 11 (1). pp. 25-31. ISSN 2384-5341

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Abstract

: Accountability and transparency in the conduct of business are partly based on and or judged by the type of information people have. People need information for decision making for example, whether to invest or not to invest in a company. The target population of this study includes senior, junior and top management of 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. The sample size (316) for this study was determined using Taro Yamani’s formula. The study found that 797 (59%) indicated agreement while 228 (17%) indicated disagreement as regards the extent of accountability to investors by corporate managers in the banking industry in Nigeria is significant. The finding at the end of the study show that the level of accountability to investors by corporate managers in the banking industry is significant (Xc2 = 17.90 > Xt2 = 12.59, p< 0.05). The study concludes that the nexus between accountability to investors and corporate mangers in the Nigerian banking industry is very important. Corporate managers in the Nigerian banking industry are significantly adhering to the principles of good corporate governance and this has reflected on the positive returns on investment in the industry. The management of corporate organizations should be properly separated from ownership, and seen to have been actually separated. Shareholders should be properly carried along in the management of corporate organizations. To this end, shareholders should fortify their unions in order to assert their rights and privileges regarding their investment.

Item Type: Article
Subjects: H Social Sciences > HJ Public Finance
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 16 Sep 2019 13:54
Last Modified: 16 Sep 2019 13:54
URI: http://eprints.gouni.edu.ng/id/eprint/1975

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