The implications of the Altman bankruptcy prediction model on deposit money banks' corporate governance in Nigeria are the subject of this research. The majority of these studies were undertaken in both Nigeria and other nations, and just a few of the Nigerian studies conducted their research in corporate firms other than the banking sector, and only a few of these banking sector studies ended in 2013. Furthermore, there is a scarcity of research on bankruptcy and corporate governance in Nigeria. Meanwhile, considering the dynamic nature of Nigerian deposit money banks, all previous research relate to a specific time span. As a result, the impact of the Altman bankruptcy prediction model on the corporate governance of Nigerian deposit money institutions was investigated in this study. The study aims to determine the impact of the Altman bankruptcy forecasting model on board independence in Nigerian deposit money banks, as well as if the model has an impact on board size in Nigerian deposit money banks. It was decided to use an ex post facto study design. From a population of 22 banks in Nigeria, a sample size of 9 deposit money banks was chosen. Data was gathered from the sampled banks' annual reports and accounts for the years 2009 to 2019. With the help of E-View 9.0, the study used regression analysis to examine the hypotheses. The Altman bankruptcy forecasting model has a beneficial influence on board independence; however this effect is not significantly significant on deposit money institutions in Nigeria, according to the data reviewed. It was also discovered that while the Altman bankruptcy predicting model has a positive effect on board size, this effect is not statistically significant in Nigerian deposit money banks.
Altman bankruptcy prediction model, Corporate governance, Board independence and Board size
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