Impact of CEO specific characteristics on finance performance of listed deposit money banks in Nigeria

Abstract

This study examines the impact of CEO characteristics on financial performance of listed DMB’s in Nigeria. Data were extracted from the audited financial statements of the sampled firms for the period of Eight (8) years (2014-2020). The study uses correlation and ex-post facto research design. The population of the study consist of 16 listed DMBs in Nigeria. Census sampling technique is employed. The study adopts multiple regression techniques model in analysing the sample data with the aid STATA 13 version. The study found that CEO share ownership has a positive and significant impact on financial performance of listed DMB’s in Nigeria. Moreover, the study concluded that CEO gender has positive and significantly impacted on financial performance of DMB’s in Nigeria. It is recommended that the board should introduce share based rewarding policy to all the managers/CEO in order to increase their shareholding which ultimately reduces conflicting interest that arises between the
shareholders and managers/CEO. Thereby, the managers/CEOs become more efficient and in turn the financial performances of the banks increase. It is further recommended that the board of directors of listed DMB’s in Nigeria should focus on employing the services of qualified and experience male as the CEO of the banks in order to improve the financial performance of the
organization