Effective corporate governance as a panacea to business survival in Nigeria

Effective corporate governance as a panacea to business survival in Nigeria

Author by Dr. Tunji Siyanbola

Journal/Publisher: International Journal Of Advanced Studies In Business Strategies & Management

Volume/Edition: 2

Language: English

Pages: 139 - 153

Abstract

This study, effective corporate governance as a panacea to business collapse in Nigeria, examined
the concept of corporate governance as a solution to business failure using Cadbury Nigeria Plc,
which has been tagged as Nigerian example of Enron, as case study. The study aimed at
establishing the relationship that exists between the shareholders and the executive management,
most especially directors' responsibility for accountability and corporate governance. The need
for corporate governance arises as a result of the need to protect the stakeholders' interest through
honest and fair trading, protection of minority interest, timely rendition of transparent and
credible information to appropriate regulatory authority, protection of consumers' health
through product standardization, corporate responsibility, just to mention but a few. We adopted
a descriptive research design with data gathered through questionnaire administered to
respondents. Non-parametric tool of chi square was employed to analyse the data. The following
hypotheses were tested and analysed: corporate governance does not improve accountability and
transparency of companies; corporate governance has nothing to do with corporate collapse;
corporate governance principles and practices do not add value to the company. Based on the
findings, it was recommended that every corporate body must adhere strictly to the principles and
practices of corporate governance to reduce the incidence of corporate failure in the economy.


Other Co-Authors