CORPORATE CULTURE AND PERFORMANCE OF NON-FINANCIAL COMPANIES IN NIGERIA
Afodigbueokwu, Hillary. E. and Ndum, Ngozi B.
Department of Accountancy,
Nnamdi Azikiwe University, Awka. Anambra state, Nigeria
Mail: hillary@gmail.com; ngodona71@gmail.com
ABSTRACT
This study examines corporate culture and company’s performance with evidence from quoted non-financial companies in Nigeria. This study was prompted by the need to undertake a quantitative examination of corporate culture and its effect on company’s performance amongst non-financial firms in Nigeria. Two research hypotheses were formulated for the study. Ex-post facto research design was employed in the study. The dependent variables are earnings per share (EPS) and returns on capital employed (ROCE) while the independent variable corporate culture was proxied using index formulated from corporate culture score cards of various companies. The sample was restricted to only seventy-five (75) quoted non-financial companies on the Nigerian Stock Exchange for the period, 2010 to 2019. Data were analyzed using Panel least square (PLS) regression with the aid of E-views, 9.0. The study found a positive negative significant relationship for corporate culture and company’s performance. Consequent on the findings, the study recommends amongst others that organizations should put more efforts on the adoption of needful and timely corporate culture since culture has become a strategic tool in the market for attaining a competitive advantage.
Keywords: Corporate culture, ROCE, EPS.
Afodigbueokwu, H.E & Ndum, N.B (2022). Corporate Culture and Performance of Non-Financial Companies in Nigeria. International Journal of Advanced Academic Research, 8(1), pp38-49. Available online at: https://www.ijaar.org/articles/v8n1/ijaar-v8n1-Jan22-p8199.pdf.
