Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria

Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria

The purpose of this study is to examine the relationship between board attributes and risk management (committee structure, practice, and disclosure) and firm performance (return on asset [ROA], return on equity [ROE], and market-to-book ratio [MTB]) of listed financial service firms in Nigeria from...

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Main Author: Kakanda, Mahmud Mohammed
Format: Thesis
Language:eng
eng
Published: 2017
Subjects:
HD61 Risk Management
Online Access:https://etd.uum.edu.my/7907/1/s900703_01.pdf
https://etd.uum.edu.my/7907/2/s900703_02.pdf
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institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Salim, Basariah
Cbandren, Sitraselvi
topic HD61 Risk Management
spellingShingle HD61 Risk Management
Kakanda, Mahmud Mohammed
Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria
description The purpose of this study is to examine the relationship between board attributes and risk management (committee structure, practice, and disclosure) and firm performance (return on asset [ROA], return on equity [ROE], and market-to-book ratio [MTB]) of listed financial service firms in Nigeria from the year 2012 to 2016. Data were collected from the annual accounts and reports of 45 sampled firms (225 firm-year observations). To test the hypotheses developed in this study, the Panel Corrected Standard Errors (PCSEs) regression was used. The result from the multivariate analysis shows that board size and risk management committee meeting have a significant positive effect on firm performance (ROA, ROE, and MTB), while chief executive officer’s tenure has a significant positive effect on ROA and ROE. However, board composition, board expertise, risk management committee size, and risk management practice and disclosure have a significant negative impact on all the three performance variables in this study. While board meeting has an insignificant positive effect on ROA and MTB and has an insignificant negative influence on ROE. Risk management committee composition shows an insignificant positive association with firm performance. Consequently, the result of this study portrays the influence of Corporate Governance (CG) mechanisms (board attributes and risk management) in the Nigerian financial institutions. In addition, the findings of this study offer an immense insight to the regulators of CG reforms in Nigeria to review and strengthen the existing CG code where necessary. Besides, this study has also provided an important intuition to the shareholders, corporate managers, financial analysts, and the academic communities to further understand the impact of CG mechanisms on firm performance.
format Thesis
qualification_name other
qualification_level Doctorate
author Kakanda, Mahmud Mohammed
author_facet Kakanda, Mahmud Mohammed
author_sort Kakanda, Mahmud Mohammed
title Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria
title_short Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria
title_full Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria
title_fullStr Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria
title_full_unstemmed Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria
title_sort board attributes, risk management, and firm performance : an analysis of listed financial service firms in nigeria
granting_institution Universiti Utara Malaysia
granting_department Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
publishDate 2017
url https://etd.uum.edu.my/7907/1/s900703_01.pdf
https://etd.uum.edu.my/7907/2/s900703_02.pdf
_version_ 1747828286648483840
spelling my-uum-etd.79072021-05-10T00:34:32Z Board attributes, risk management, and firm performance : an analysis of listed financial service firms in Nigeria 2017 Kakanda, Mahmud Mohammed Salim, Basariah Cbandren, Sitraselvi Tunku Puteri Intan Safinaz School of Accountancy (TISSA) Tunku Puteri Intan Safinaz School of Accountancy (TISSA) HD61 Risk Management The purpose of this study is to examine the relationship between board attributes and risk management (committee structure, practice, and disclosure) and firm performance (return on asset [ROA], return on equity [ROE], and market-to-book ratio [MTB]) of listed financial service firms in Nigeria from the year 2012 to 2016. Data were collected from the annual accounts and reports of 45 sampled firms (225 firm-year observations). To test the hypotheses developed in this study, the Panel Corrected Standard Errors (PCSEs) regression was used. The result from the multivariate analysis shows that board size and risk management committee meeting have a significant positive effect on firm performance (ROA, ROE, and MTB), while chief executive officer’s tenure has a significant positive effect on ROA and ROE. However, board composition, board expertise, risk management committee size, and risk management practice and disclosure have a significant negative impact on all the three performance variables in this study. While board meeting has an insignificant positive effect on ROA and MTB and has an insignificant negative influence on ROE. Risk management committee composition shows an insignificant positive association with firm performance. Consequently, the result of this study portrays the influence of Corporate Governance (CG) mechanisms (board attributes and risk management) in the Nigerian financial institutions. In addition, the findings of this study offer an immense insight to the regulators of CG reforms in Nigeria to review and strengthen the existing CG code where necessary. Besides, this study has also provided an important intuition to the shareholders, corporate managers, financial analysts, and the academic communities to further understand the impact of CG mechanisms on firm performance. 2017 Thesis https://etd.uum.edu.my/7907/ https://etd.uum.edu.my/7907/1/s900703_01.pdf text eng public https://etd.uum.edu.my/7907/2/s900703_02.pdf text eng public https://sierra.uum.edu.my/record=b1698391~S1 other doctoral Universiti Utara Malaysia A Review of Nigerian Stock Exchange in 2015 (2017, January 7), PM News. Retrieved from www.pmnewsnigeria.com Abdul Rahman, R., & Mohamed, A. F. H. (2006). Board, Audit Committee, Culture and Earnings Management: Malaysian Evidence. Managerial Auditing Journal, 21(7) 783-804. Abdullah, M., Abdul Shukor, Z., Mohammed, Z. M., & Ahmad, A. (2015). 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