Examining the Link between Technical Efficiency, Corporate Governance and Financial Performance of Firms: Evidence from Nigeria
The purpose of this study is to examine the link between technical efficiency and both the corporate governance and financial performance of listed financial firms on the floor of the Nigerian Stock Exchange using three theoretical approaches: shareholder theory, stakeholders’ theory, and resource d...
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| Veröffentlicht in: | Journal of risk and financial management 2022-11, Vol.15 (11), p.524 |
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| creator | Lawal, Adedoyin Isola Bose Bukola, Lawal-Adedoyin Olakanmi, Olujide Samson, Timothy Kayode Ike, Nwanji Tony Ajayi, Abiodun Samuel Adeniran, Fakile Samuel Ezekiel, Oseni Oyelude, Opeyemi Adigun, Grace |
| description | The purpose of this study is to examine the link between technical efficiency and both the corporate governance and financial performance of listed financial firms on the floor of the Nigerian Stock Exchange using three theoretical approaches: shareholder theory, stakeholders’ theory, and resource dependence theory. We employed a stochastic frontier analysis to examine the impact of technical efficiency on the link between corporate governance and financial performance on the one hand, and, on the other, multiple regressions comprised of OLS and Poisson estimates to analyze a data-generating set sourced from 2007 to 2020. The results of our OLS estimates suggest that a negative but significant relationship exists between the corporate governance mechanism and the financial performance of the listed firms. When we subject the analysis to the Poisson estimates, the relationship becomes positive and significant. Our results have some positive implications. |
| doi_str_mv | 10.3390/jrfm15110524 |
| format | Article |
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We employed a stochastic frontier analysis to examine the impact of technical efficiency on the link between corporate governance and financial performance on the one hand, and, on the other, multiple regressions comprised of OLS and Poisson estimates to analyze a data-generating set sourced from 2007 to 2020. The results of our OLS estimates suggest that a negative but significant relationship exists between the corporate governance mechanism and the financial performance of the listed firms. When we subject the analysis to the Poisson estimates, the relationship becomes positive and significant. 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| source | MDPI - Multidisciplinary Digital Publishing Institute; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals |
| subjects | Audit committees Audits Banking industry Boards of directors Corporate governance Efficiency Emerging markets Financial reporting Financial services Hypotheses Literature reviews Social responsibility Stock exchanges Stockholders |
| title | Examining the Link between Technical Efficiency, Corporate Governance and Financial Performance of Firms: Evidence from Nigeria |
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