AN EMPIRICAL INVESTIGATION INTO THE EFFECT OF CORPORATE GOVERNANCE AND ECONOMIC CRIMES IN DEPOSIT MONEY BANKS
Abstract
The escalation in the incidence of bank failures worldwide has garnered substantial attention in contemporary discourse. Such occurrences reverberate beyond the confines of the failed financial institutions, exerting adverse repercussions on stakeholders and occasionally permeating the broader non-banking sector. As a result, the study investigated the effect of Corporate Governance and Economic Crimes in Deposit Money Banks in Nigeria. The study adopted a survey research design. The study population was the 685 employees in the operation, finance, accounting and audit departments of 16 DMBs in Nigeria using stratified sampling technique. The Taro Yamane sample size was employed in selecting the 253 respondents for the study. The study used primary data via a well-structured five-Likert scale dimension. Findings revealed that corporate governance have significant effect on Misappropriation of assets (Adj R2 = 0.519, F(9, 223) = 28.79, p < 0.05). The study concluded that corporate governance had significant effect on misappropriation of assets of DMBs in Nigeria. The study recommended that Management of deposit money banks should institute a well effective internal control system for effective corporate governance for smooth operations and reduction of economic crimes to the barest minimum.
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Published in BUSINESS AND FINANCE JOURNAL
ISSN: 988-47878
This article appears in our peer-reviewed academic journal
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