Foreign Expatriates on Board and Financial Performance: A Study of Listed Deposit Money Banks in Nigeria

Wisdom Okere, Damilola Felix Eluyela*, Adedoyin Ishola Lawal, Ibidunni Oyebisi, Oluwasegun Eseyin, Olabisi Popoola and Toluwalase Eniola Awe
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Damilola Felix Eluyela*: Department of Accounting and Finance, Landmark University, Omu Aran, Kwara State Department of Accounting, Covenant University, Ota, Ogun State
Adedoyin Ishola Lawal: Department of Accounting and Finance, Landmark University, Omu Aran, Kwara State
Ibidunni Oyebisi: Department of Economics, Accounting and Finance, Bells University of Technology, Ota Ogun State
Oluwasegun Eseyin: Department of Economics, Landmark University, Omu Aran, Kwara State
Olabisi Popoola: Department of Economics, Landmark University, Omu Aran, Kwara State
Toluwalase Eniola Awe: Department of Agricultural Economics, Landmark University, Omu Aran, Kwara State

The Journal of Social Sciences Research, 2019, vol. 5, issue 2, 418-423

Abstract: Due to the recent financial scandals, there has been a growing need and debate amongst researchers on variables to strengthen the corporate governance of a firm. This study examined the relationship between foreign expatriates on board and financial performance of deposit money banks in Nigeria. Applying panel methodology for the period of 2008 to 2016 as well as other econometric analysis such as descriptive analysis, correlation analysis and Hausman test, the findings revealed a positive but insignificant relationship exist between foreign expatriates on board and financial performance of sampled deposit money banks in Nigeria. The study recommends that banks should ensure that they have an appropriate number of foreign directors on their board who have diverse skills and wealth of experience in order to make their performance on the banks significant. Also, developing countries who don’t have access to foreign directors can train their local directors in foreign countries so as to gain access to the benefits of global knowledge and experience.

Keywords: Board globalisation; Board independence; Business; Corporate governance; Industry; Economics. (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:arp:tjssrr:2019:p:418-423

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