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INTERNAL AND EXTERNAL GOVERNANCE MECHANISMS: EVIDENCE FROM THE NIGERIAN BANKING INDUSTRYDownload This Article
Olatundun J. Adelegan
This paper examines the relationship between internal and external governance mechanism employed by Nigerian banking companies. Data for the study was obtained from the annual reports of bank in Nigeria. I find a higher portion of non-executive directors and a greater likelihood of separating the role of company chairman and CEO in banks compared to similar studies of Nigerian quoted companies. The proportion of non-executive directors who are former executives is low. These suggest those banks are more likely to employ non-executives for monitoring. Banks in Nigeria have utilized audit committees since 1991 and the audit committees in Nigerian banks possess a great proportion of non-executive directors.
Keywords: Corporate Governance, Governance Mechanisms, Board Composition, Audit Committee
How to cite this paper: Adelegan, O. J. (2005). Internal and external governance mechanisms: Evidence from the Nigerian banking industry. Corporate Ownership & Control, 2(3), 62-67. http://doi.org/10.22495/cocv2i3p6