Corporate Governance Mechanism and Sustainability of Health Care Firms in Nigeria

This study was carried out to examine the relationship between corporate governance mechanism and sustainability of health care firms in Nigeria. The study is vital as it portrays the extent to which corporate governance mechanism ensures organizational sustainability. In order to determine the relationship between corporate governance mechanism CGM and sustainability, CGMs key proxy variables were used in the study, namely board independence BI and board diligence BD while sustainability on the other hand was measured by social environmental performance. Two hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using ordinary least square model. The study anchored on the Stewardship Theory adopted an Ex Post Facto Approach. Hence, data were collected from the annual reports and accounts of listed health care firms in Nigeria for the period 2016 2020. The empirical analysis of the research indicates that there is a significant and positive relationship between board independence, board diligence and sustainability of listed health care firms in Nigeria at 1 significant level. Thus, the study concludes that corporate governance mechanism ensures sustainability of quoted health care firms in Nigeria. In lieu of this, the study recommended that companies should re examine the frequency of meetings of the Board. Attention should be focused on the efficiency and not the frequency of meetings of the Board. Also in the composition of corporate board, there shall be independent directors and female directorship presence as thus ensures organizational sustainability. Onuora, J. K. J. | Obiora Fabian. | Iloghalu Chika. R "Corporate Governance Mechanism and Sustainability of Health Care Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-3 , April 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49500.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/49500/corporate-governance-mechanism-and-sustainability-of-health-care-firms-in-nigeria/onuora-j-k-j