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Corporate Governance Mechanism and Sustainability of Health Care Firms in Nigeria

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Corporate Governance Mechanism and Sustainability of Health Care Firms in Nigeria


Onuora, J. K. J. | Obiora Fabian. | Iloghalu Chika. R



Onuora, J. K. J. | Obiora Fabian. | Iloghalu Chika. R "Corporate Governance Mechanism and Sustainability of Health Care Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-3, April 2022, pp.187-196, URL: https://www.ijtsrd.com/papers/ijtsrd49500.pdf

This study was carried out to examine the relationship between corporate governance mechanism and sustainability of health care firms in Nigeria. The study is vital as it portrays the extent to which corporate governance mechanism ensures organizational sustainability. In order to determine the relationship between corporate governance mechanism (CGM) and sustainability, CGMs key proxy variables were used in the study, namely; board independence (BI) and board diligence (BD) while sustainability on the other hand was measured by social-environmental performance. Two hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using ordinary least square model. The study anchored on the Stewardship Theory adopted an Ex Post Facto Approach. Hence, data were collected from the annual reports and accounts of listed health care firms in Nigeria for the period 2016-2020. The empirical analysis of the research indicates that there is a significant and positive relationship between board independence, board diligence and sustainability of listed health care firms in Nigeria at 1% significant level. Thus, the study concludes that corporate governance mechanism ensures sustainability of quoted health care firms in Nigeria. In lieu of this, the study recommended that companies should re-examine the frequency of meetings of the Board. Attention should be focused on the efficiency and not the frequency of meetings of the Board. Also in the composition of corporate board, there shall be independent directors and female directorship presence as thus ensures organizational sustainability.

Board Independence, Board Diligence, Sustainability


IJTSRD49500
Volume-6 | Issue-3, April 2022
187-196
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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