CORPORATE GOVERNANCE AND ORGANIZATION PERFORMANCE IN AKWA IBOM STATE POLYTECHNIC

ODONGO, LUCY EFFIONG (M.Sc)
Department of Business Administration,
Faculty of Management Science,
Akwa Ibom State University,
Ikot Akpaden, Mkpat Enin/Obio Akpa,  Oruk Anam

SAMUEL OKUREBIA (PhD)
Department of Business Administration,
Faculty of Management Science,
Akwa Ibom State University,
Ikot Akpaden, Mkpat Enin/Obio Akpa, Oruk Anam

AARON AKPAN (PhD)
Department of Business Administration,
Faculty of Management Science,
Akwa Ibom State University,
Ikot Akpaden, Mkpat Enin/Obio Akpa, Oruk Anam

ABSTRACT: This study examined the effect of corporate governance on organizational performance at Akwa Ibom State Polytechnic. The study employed survey research techniques to collect data from 43 academic board members at Akwa Ibom State Polytechnic from the population of the study, which was 47. The instrument for data gathering was a structured questionnaire designed in line with the objective of the study. The collected data were analyzed using frequency tables and simple percentages, and regression analysis was used in testing the hypotheses. Findings from the collected data revealed that board independence has a significant effect on organizational performance in Akwa Ibom State Polytechnic; the code of ethics has a significant effect on organizational performance in Akwa Ibom State Polytechnic; board size has a significant effect on organizational performance in Akwa Ibom State Polytechnic. The study recommended, amongst others, that board meetings of Akwa Ibom State Polytechnic should be held more frequently for the purpose of influencing organizational performance positively from the critical issues discussed in the meeting; also, in accordance with the code of corporate governance in Nigeria, the number of non-executive directors should be higher than the number of executive directors in the board composition of Akwa Ibom State Polytechnic; and finally, the study recommended that the board size of Akwa Ibom State Polytechnic should be improved as the size of organization increase for the purpose of influencing the entity’s organizational performance positively.

Keywords: Corporate governance, Board independence, Code of ethics, Organization performance in Akwa Ibom State Polytechnic