AGADA Solomon1, MAKINDE John Temitayo2
1,2Department of Business Administration and Marketing
Redeemer’s University, Ede, Osun State.
Corresponding Author: Email: agadas@run.edu.ng, Solomon Agada, phone: 08104767887.
Abstract
As a way of sustaining stakeholders’ confidence and enhance corporate image, the ethos of corporate governance in relation to organisational performance especially in the banking sector becomes absolutely profound. This study examines the philosophy of corporate governance along the dimensions of social responsibility, transparency, disclosure, and accountability. A cross-sectional survey of 300 staff members of the top five banks in Nigeria
participated in the study. Data was collected through the use of a self-administered questionnaire eliciting responses with respect to corporate governance practices in the dimensions stated above. Analysis using simple linear regression revealed that social responsibility significantly influence performance, R Square = 0.567, Beta = 0.753, p=0.000.
Transparency significantly influence performance, R Square = 0.618, Beta = 0.753, p=0.000. Disclosure significantly influence performance, R Square = 0.574, Beta = 0.758, p=0.00. Accountability significantly influence performance, R Square = 0.515, Beta = 0.718, p=0.000. Consequently, corporate governance practices significantly influence
performance in the banking sector. It is therefore recommended that banks implement corporate governance along these dimensions in order to achieve effective performance.
Keywords: Banking sector, corporate governance, performance, stakeholders,