Institutional Shareholder Engagement, Corporate Governance and Firms’ Financial Performance in Nigeria: Does any relationship exist?
Bibliographic record
Abstract
Academics and business practitioners have extensively debated the dramatic increase in institutional ownership and the sudden interest of institutional shareholders in corporate governance. This paper examined the relationship that exists between institutional shareholder engagement and financial performance of selected listed firms in Nigeria. This study used primary data to describe the independent variables: namely institutional ownership, exercise of voting rights and private negotiation. It also used panel data for twenty (20) selected listed firms for the period 2011-2013. Firm’s performance was measured using Return on Asset (ROA), Return on Equity (ROE) and Tobin’s Q. Findings indicate that there is no significant relationship between institutional shareholder engagement and firms’ financial performance in Nigeria. However, the results were mixed when the performance indicators in term of ROA, ROE and Tobin’s Q. This research study suggests that institutional shareholders in Nigeria should become efficient monitors of corporate management just like what obtains in developed countries. This will ensure effective and good corporate governance practices and avoid insider abuse for the enhancement of financial performance.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.003 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.001 | 0.001 |
| Scholarly communication | 0.001 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.002 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".