CHIEF EXECUTIVE OFFICER’S SHARE OWNERSHIP ON FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

This study examines the effect of chief executive officer’s share ownership on financial
performance of listed deposit money banks in Nigeria. The study employed correlation and
ex-post facto research design. And Census sampling technique is employed where the
entire 14 listed deposit money banks in Nigeria are considered as the sample of the study.
Panel Corrected Standard Error is considered as the technique that analyse the panel data
obtained from audited financial statements of the sampled listed deposit money banks
between 2014- 2023 with the aid of STATA 13 Version as a tool of analysis. It is found
that chief executive officer’s ownership has a positive and significant influence on financial
performance. Therefore, it is recommended that the board members should initiate
comprehensive and functional equity reward-based policy amongst chief executive officer
such that their share ownership would grow which will ultimately improve the financial
performance of the banks.