EFFECT OF OWNERSHIP STRUCTURE ON THE PERFORMANCE OF SELECTED LISTED FIRMS IN NIGERIA
EFFECT OF OWNERSHIP STRUCTURE ON THE PERFORMANCE OF SELECTED LISTED FIRMS IN NIGERIA

Summary/Abstract: This study examined the effect of ownership structure on the performance of selected firms listed on the Nigerian Stock Exchange. Several ownership structure measures were employed - board chairman and chief executive officers shares ownership and performance measure (return on assets). The ex-post fact research design was adopted and secondary data obtained from the Annual Reports and Accounts of seventy-two (72) selected listed firms for the period 2006-2019. The data obtained were analysed using both descriptive (mean, median, standard deviation, kurtosis, skewness, Jarque-Bera) and inferential (Ordinary Least Square) statistical techniques. Findings indicated that board chairman and chief executive officers shares ownership have no significant effect on the performance of firms listed on Nigerian Stock Exchange. Given the findings, the study recommends that board chairman and chief executive officers share ownership should not be considered as problem for effective and efficient performance of firms. Consequently, board chairman and chief executive officers should be allowed to acquire as many shares as they desire.

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