CORPORATE GOVERNANCE AND ITS IMPACT ON THE MANAGEMENT OF MTN MOBILE COMMUNICATION NIGERIA LTD. KADUNA MAIN BRANCH

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ABSTRACT

This study examined the corporate governance and its impact on the management of MTN Mobile Communication Nigeria Limited Kaduna main branch. Research questions guided the study.

A survey method was used for this study.

The population consisted of all the entire telecommunication industry in Nigeria out of which MTN Mobile Communication Plc Kaduna with a total population of twenty five (25) persons was selected as the sample size of the study.

A questionnaire developed by the researcher based on liker 5 point scale was used for the study. Mean scores and frequencies were used to analyze the data based on the research questions.

Research results shows that internal and external mechanism of corporate governance are used to regulate the performance of MTN.

The control mechanism put in place by MTN include internal and external auditing as well as board of director monitoring and balance of power.

The systemic problems militating against corporate governance include high cost of monitoring, inadequate supply of accounting information to shareholders.

CHAPTER ONE: INTRODUCTION

1. Background of the Study 1

1. Statement of the Problem 3

1. Objective of the Study 4

1. Significance of the Study 5

1. Research Questions 6

1. Scope of the Study 6

Definition of Terms 6

CHAPTER TWO: LITERATURE REVIEW AND CONCEPTUAL FRAMEWORK

2.1 Introduction 9

2.2 Concept of Corporate Governance 9

2.2.1 Principles of Corporate Governance 13

2.2.2 Parties to Corporate Governance 16

2.2.3 Ownership Structures and Elements in Corporate Governance 17

2.3 Theoretical Framework 19

2.3.1 Agency Theory 20

2.3.2 Stewardship Theory 22

2.3.3 Stakeholder Theory 26

2.3.4 Institutional Theory 32

2.4 Empirical Literature Review on the Impact of Corporate Governance

on Firm Performance 36

2.4.1 Corporate Governance and Performance 37

2.4.2 Corporate Ownership and Performance 38

2.4.3 Corporate Governance and Ownership Structure 40

2.5 Summary 42

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Introduction 44

3.2 Population and Sample Size 44

3.3 Source of Data Collection 44

3.4 Method of Data Collection 45

3.5 Method of Data Analysis 45

3.6 Justification 46

3.7 Summary 46

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Introduction 47

4.2 Respondent Characteristics 47

4.3 Data Analysis 48

4.4 Discussion of Findings 52

4.5 Summary of Findings 54

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

5.0 Introduction 56

5.1 Summary 56

5.2 Conclusion 57

5.3 Recommendations 57

5.4 Limitation of the study 58

Bibliography 59

Appendix 61

CHAPTER ONE: INTRODUCTION

Background to the Study

Corporate governance is concerned with ways in which all parties interested in the well-being of the firm (the stakeholders) attempt to ensure that managers and other insiders take measures or adopt mechanisms that safeguard the interests of the stakeholders. Such measures are necessitated by the separation of ownership from management, an increasingly vital feature of the modern firm. A typical firm is characterized by numerous owners having no management function, and managers with no equity interest in the firm. Shareholders, or owners of equity, are generally large in number, and an average shareholder controls a minute proportion of the shares of the firm. This gives rise to the tendency for such a shareholder to take no interest in the monitoring of managers, who, left to themselves, may pursue interests different from those of the owners of equity. For example, the managers might take steps to increase the size of the firm and, often, their pay, although that may not necessarily raise the firm’s profit, the major concern of the shareholder.

Corporate governance issues in both the private and public sectors have become a popular discussion in recent time. There have been some legislative changes and provisions imposed by governments on public and private organizations around the world to improve on their governance arrangements. Telecommunication sector in Nigeria have been one of the ‘interests caught up in the national surge in governance of organizations’

Particularly in Nigeria, governance issues such as size and composition of board of directors and their roles, responsibilities and relationships have been discussed in several Government business policy reports for more than a decade.

Corporate governance can simply be defined as the system by which companies are directed and controlled which focuses on the “hygiene” and “housekeeping” aspects of running a business. As such, corporate governance can be seen as a set of relationships between a company’s management, its board, its shareholders and other stakeholders that provides a structure through which the objectives of the company are set and the means of attaining those objectives and monitoring performance are determined.

Corporate governance issues are as old as companies themselves. At its broadest, it concerns the question of who should own and control the company and at the narrowest; it concerns the relationship between the shareholders and directors.

Many a research has been carried out world over to unearth the impact of the corporate governance on listed firms as well as correct and good practice of corporate governance in developing countries.

However Nigeria have been faced with a myriad of issues, ranging from “underdeveloped and illiquid stock markets, economic uncertainties, weak legal controls and investor protection, and frequent government intervention and coupled with poor economic performance, a predominance of concentrated shareholding and controlling ownership Therefore, Nigeria demand higher levels of effective corporate governance practices.

However, until quite recently the issue of corporate governance has received minimal attention in Nigeria. This is the reason why, many corporate organizations have been caught of getting involved in unethical practices. For example, seven top Bank executives in Nigeria that were discovered to be involved in one of the highest financial scam in the nation’s banking industry, after the CBN consolidation exercise ; which has put the credibility of their corporate image under suspicion, and threatening investors’ confidence.

Therefore an important theme of corporate governance in this regard is the nature and extent of accountability of people in the business and mechanisms that try to decrease the principal agent problem. Consequently, corporate governance mechanism has been a crucial issue under discussion with vested interest. It is against this background that the researchers see the subject matter; corporate governance and its impact on the management of Mobile Telecommunication Nig. Ltd Main Branch as an issue worthy of being investigated.

Statement of Problem

There has been considerable discussion in the academic literature of corporate governance especially managerial agency problems that arise from the separation of ownership and control. For example, Jensen and Meckling (2006) opined that a number of corporate governance mechanisms have been proposed to ameliorate this agency problem between managers and their shareholders. The proposed governance mechanisms include, for example, CEO incentive compensation, managerial ownership, monitoring by large shareholders,

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