ABDULKADIR Jamilu
Department of Business Administration
Faculty of Management Sciences
Kaduna State University
jameelabdulqadir@gmail.com
DABO Zainab
Department of Business Administration
Faculty of Management Sciences
Kaduna State University
zeemuhdabo@yahoo.com
MUHAMMAD Rahilahtu Ahmad
Department of Business Administration
Faculty of Management Sciences
Kaduna State University
rahmulim@gmail.com
ABSTRACT
This study examined the ERM COSO objectives on performance of insurance firms in Nigerian. The study used panel and correlational designs in investigating the effect of ERM objectives measured by strategic and operational objectives on performance of insurance companies measured by Tobin’s Q. Secondary data obtained from annual financial statements of insurance firms for the periods of 2018-2022 was used in the analysis. The study used panel data regression model to estimate the relationship, and found the existence of positive significant effect of strategic ERM objectives on performance of insurance companies in Nigeria. However, a negative significant effect of operational ERM objective on performance of insurance companies in Nigeria was observed. The study recommends that insurance firms in Nigeria should ensure full conformity to the provision of COSO ERM components while carrying out their operations. They should also (re)strategize and monitor their performance outcomes in line with their established objectives, so as to attain strategic ERM objectives in the overall business operations.
Keywords: Enterprise risk management, firm performance, strategic ERM objective, operational ERM objective