CORPORATE GOVERNANCE AND ORGANIZATIONAL PERFORMANCE:A STUDY OF SELECTED OIL-PALM PRODUCING FIRMS IN SOUTHERN NIGERIA
Faculty: Management Sciences
Department: Business Administration
The objective of this study was to examine “Corporate Governance and Organizational Performance: A study of selected oil-palm producing firms in southern Nigeria”. Also to determine the extent integrity affects customer satisfaction in the firms, to ascertain the extent of relationship between ownership structure and competitive advantage in the studied firms, to identify the extent of relationship between reforms on corporate governance and innovativeness of the studied firms, and to examine the nature of relationship between probity and social responsibility in the studied firms. The research had four (4) research questions and four (4) hypotheses drawn in line with the purpose of the study. The source of data collection was primary and questionnaire was the main instrument used in collecting data for the study. Research method was adopted for gathering information through the questionnaire instrument. A population of 1000 was made up of three selected firms in the southern part of Nigeria, Taro Yamene formula was used to determine the sample size of two hundred and eighty six respondents that formed the sample size. Bowleys proportion allocation formula was used to allocate what each of the organization will have for the sample size. A simple random technique was adopted as to give each subject of the study an equal chance of being selected. The questionnaire was validated through sending it to experts in the area of management and measurement. While the reliability of the research instrument was determined by use of test-re-test method and using Spearman rank correlation, the estimate is 0.99. Data collected from the respondents were organized in tables and percentages, the test of hypotheses were carried out with the statistical tool, Pearson product moment correlation coefficient, t-statistic and 5% level of significance. Using SPSS version 17.1. The result of the findings reveals that there is significant relationship between integrity and customer’s satisfaction of the organizations and that ownership structure does significant affect competitiveness advantage of the organizations. It was therefore concluded that managers should trust their boards to guide critical business decisions and drive strong business performance. Finally, it was concluded that ownership structure with higher proportion of External directors and with Chief Executive Officers being separate from the Chairpersons have superior performance, as a result of their independence from firm’s management. Based on the findings, it was recommended that organizations should embrace marketing concepts that allows for being more effective than competitors in creating and delivery superior customer value to its chosen target market.
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