Ademeso, O. James and Ezekiel, Evenlyn Ilamosi (2019) CORPORATE GOVERNANCE INDICATORS ON FIRM'S VALUE (A STUDY OF THE NIGERIAN BREWERIES PLC). Journal of Management and Technology [JORMATECH], 5 (1). pp. 1-15.
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Abstract
This study investigated the relationship between corporate governance and firm value of the Nigerian breweries plc. It investigated corporate governance variables and analyzed whether they impacted the firm’s value as measured by return on equity (ROE). Based on the review of existing literature, four corporate governance variables were selected namely: composition of board member, board size, ownership structure and audit committee which served as the independent variables. The study was based on secondary data which was derived from the annual report and account of the Nigerian Breweries Plc from 2001-2018, using the entire records of the company as the population. The ordinary least square of multiple regression was used to estimate the relationship between corporate governance and firm value. Findings from the study showed that there is positive and significant relationship between board size and ownership structure as independent variables and return on equity (ROE) at P<0.05. however, board composition and audit committee have negative relationships and insignificant relationship with return on equity (ROE). The relationships are not significant at 5%. The study recommended among other things that companies’ Board should be mostly dominated by independent Directors and Board size should be in line with corporate size and activities.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Humanities |
| Depositing User: | Unnamed user with email [email protected] |
| Date Deposited: | 03 Jun 2021 08:56 |
| Last Modified: | 03 Jun 2021 08:56 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/1457 |
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