Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance

This study takes steps towards developing behavioral principle-based board process as success dimension to effective board role performance. In the literature, dominant corporate governance research that centered on rule-based board structure has so far yielded conflicting and ambiguous results. The...

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Main Author:	Tsafe, Bashir Mande
Format:	Thesis
Language:	eng eng
Published:	2012
Subjects:	HD2709-2930.7 Corporations
Online Access:	https://etd.uum.edu.my/3408/1/BASHIR_MANDE_TSAFE.pdf https://etd.uum.edu.my/3408/4/BASHIR_MANDE_TSAFE.pdf
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id	my-uum-etd.3408
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Ishak, Zuaini Md Idris, Kamil
topic	HD2709-2930.7 Corporations
spellingShingle	HD2709-2930.7 Corporations Tsafe, Bashir Mande Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance
description	This study takes steps towards developing behavioral principle-based board process as success dimension to effective board role performance. In the literature, dominant corporate governance research that centered on rule-based board structure has so far yielded conflicting and ambiguous results. These could not transform effective corporate functioning, thus inconclusive. This study also stimulates debates about the extension of corporate governance literature in the stakeholder theoretical perspective, which incorporates both shareholders and non-shareholding stakeholders, as a comprehensible preference to the traditionally dominant agency model in an attempt to offer a more inclusive approach and strengthen the existing governance structure in Nigeria. This suggests having employee representatives and creditor seats on board to participate in firm’s top decisions.The study also examines factors responsible for reported weak enforcement in relations to board performance, with the broad objective of investigating if the combination of these factors constitute effective corporate governance and explain board performance. Based on survey perceptions of 154 respondents from the Nigerian capital market sampled participants, the study employs confirmatory factor analysis (CFA) in a structural equation modeling (SEM) approach. Thus, a model that relates board process and three stakeholders constructs to board performance is proposed. Building upon board process dimensions such as cognitive conflict, effort norms, use of knowledge and skills, and groupthink; this study finds that board process is significantly related to board performance. In addition, building upon the three stakeholder constructs, this study also finds creditor participation to be significantly related to board performance. However, employee participation and regulatory enforcement show insignificant relationship with board performance. The study concludes that combination of board process and creditor participation constitutes effective corporate governance.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Tsafe, Bashir Mande
author_facet	Tsafe, Bashir Mande
author_sort	Tsafe, Bashir Mande
title	Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance
title_short	Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance
title_full	Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance
title_fullStr	Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance
title_full_unstemmed	Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance
title_sort	stakeholders' perceptions on corporate governance constitution and their implications on board performance
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2012
url	https://etd.uum.edu.my/3408/1/BASHIR_MANDE_TSAFE.pdf https://etd.uum.edu.my/3408/4/BASHIR_MANDE_TSAFE.pdf
_version_	1747827566590296064
spelling	my-uum-etd.34082016-04-24T03:05:59Z Stakeholders' Perceptions on Corporate Governance Constitution and Their Implications on Board Performance 2012 Tsafe, Bashir Mande Ishak, Zuaini Md Idris, Kamil Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HD2709-2930.7 Corporations This study takes steps towards developing behavioral principle-based board process as success dimension to effective board role performance. In the literature, dominant corporate governance research that centered on rule-based board structure has so far yielded conflicting and ambiguous results. These could not transform effective corporate functioning, thus inconclusive. This study also stimulates debates about the extension of corporate governance literature in the stakeholder theoretical perspective, which incorporates both shareholders and non-shareholding stakeholders, as a comprehensible preference to the traditionally dominant agency model in an attempt to offer a more inclusive approach and strengthen the existing governance structure in Nigeria. This suggests having employee representatives and creditor seats on board to participate in firm’s top decisions.The study also examines factors responsible for reported weak enforcement in relations to board performance, with the broad objective of investigating if the combination of these factors constitute effective corporate governance and explain board performance. Based on survey perceptions of 154 respondents from the Nigerian capital market sampled participants, the study employs confirmatory factor analysis (CFA) in a structural equation modeling (SEM) approach. Thus, a model that relates board process and three stakeholders constructs to board performance is proposed. Building upon board process dimensions such as cognitive conflict, effort norms, use of knowledge and skills, and groupthink; this study finds that board process is significantly related to board performance. In addition, building upon the three stakeholder constructs, this study also finds creditor participation to be significantly related to board performance. However, employee participation and regulatory enforcement show insignificant relationship with board performance. The study concludes that combination of board process and creditor participation constitutes effective corporate governance. 2012 Thesis https://etd.uum.edu.my/3408/ https://etd.uum.edu.my/3408/1/BASHIR_MANDE_TSAFE.pdf text eng validuser https://etd.uum.edu.my/3408/4/BASHIR_MANDE_TSAFE.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Abor, J. and Adjasi, C. K. D. (2007). 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