IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 9 NO. 3 2023
DOI: https://doi.org/10.56201/jafm.v9.no3.2023.pg161.170

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Corporate Governance Standard and Financial Performance of Nigerian Health Care Manufacturing Companies

Edeh, Lawrence S, Oyekezie, Kingsley Sunday. FCA, ACTI, CPFA, MCAI

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Abstract

This study examined the extent at which corporate governance standard affects financial performance on health care manufacturing companies in Nigeria from 2012 to 2021. Ex Post Facto research design was adopted for the study. Six health care manufacturing companies were selected for the study. Data were extracted from annual reports and accounts of the sampled health care companies and regression analysis was employed to test the hypotheses. The results show that shareholders relationship has significant effect on return on equity of health care manufacturing companies in Nigeria while remuneration has no significant effect on return on equity of health care manufacturing companies in Nigeria. Based on the findings of this study, it was recommended that the company’s management should consider a judicious and reasonable reimbursement level of board’s members to attract a realistic relation between shareholders and company’s management, hence, enhance firm’s financial performance in the intensification of shareholders’ value

keywords:

Corporate governance standards, Remuneration of board, Shareholders relationship and financial performance

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