EFFECT OF corporate governance ON organization PERFORMANCE IN NIGERIA
EFFECT OF CORPORATE GOVERNANCE ON ORGANIZATION PERFORMANCE IN NIGERIA
Corporate governance is viewed as a critical basis for good organisational performance and for organisations to become more productive, managed, and regulated.
The global degree of institution collapse and firm failure has also highlighted the importance of studying how organisations are governed and controlled. Lee (2008) described corporate governance as a method for directing and controlling business corporations.
The corporate governance structure outlines the distribution of rights and responsibilities among various players in the business, such as the board of directors, managers, shareholders,
and other stakeholders, as well as the rules and procedures for making corporate decisions. It offers the structure through which the company's objectives are determined, as well as the tools for achieving those objectives and monitoring performance.”
It has been stated that the style of corporate governance and management used in the organisation is related to the firm's survival. Corporate Governance also encompasses the interactions between the many stakeholders and the aims for which the organisation is controlled. Shareholders
, debt holders, trade creditors, suppliers, customers, and communities affected by the corporation's activity are the primary external stakeholder groups in modern business corporations.
The board of directors, executives, and other staff are examples of informal stakeholders. It ensures that an enterprise is directed and governed in a responsible, competent, and transparent manner with the goal of ensuring long-term success, hence increasing the trust of shareholders and capital market investors.