Browsing by Author "Bukoye, Josephine Tolulope"

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    Effect of Corporate Governance on the Performance of Oil and Gas Firms in Nigeria
    (Ilorin Journal of Administration and Development, 2018-06) Yahaya, Khadijat Adenola; Bukoye, Josephine Tolulope; Bamigbade, Dayo
    Inadequate financial disclosures by firms make it difficult for interested stakeholder(s) to monitor the performance of the firms. Corporate governance provides a mechanism for ensuring optimal financial information disclosure by firms. Consequently, this paper evaluates the effect of corporate governance on the performance of oil and gas firms in Nigeria. The study used a sample of six (6) oil and gas firms quoted on the Nigerian Stock Exchange (NSE) for a period of nine (9) years spanning from 2005 to 2013 using random sampling method. Panel regression technique was adopted in analyzing data collected. It was found that board size has positive effect on Profit After Tax (PAT), but negative effect on Return on Equity (ROE) and Return on Asset (ROA), firm size has positive effect on ROE, ROA and PAT, Audit committee (AUDCOM) has positive effect on ROE and ROA, but a negative effect on PAT. Ownership concentration has no significant effect on performance. It is concluded that corporate governance has significant effect on the performance of oil and gas firms in Nigeria. Thus, it is recommended that moderate board composition should be maintained, Audit committee chairman should be non-executive member, and ownership should not be concentrated in the hands of directors.