CHIEF EXECUTIVE OFFICER (CEO) ATTRTIBUTES AND FINANCIAL PERFORMANCE OF LISTED ICT COMPANIES IN NIGERIA

Abstract

Good financial performance guarantees economic health of the organization, builds credibility with the stakeholders and enhances the confidence of investors Evidence from research has shown that poor financial performance characterized by low profitability, negative cash flow have threatened the long-term viability and stability of the firm. Research has further shown that not many listed ICT companies have considered CEO attributes as drivers of good financial performance. This study therefore investigated the impact of Chief Executive Officers’ attributes on financial performance of listed information and communications technology (ICT) companies in Nigeria. Chief Executive Officers’ attributes were disintegrated into Chief Executive Officers’ political connection (PC), Chief Executive Officers’ tenure (CTE), Chief Executive Officers’ educational qualifications (CEQ), Chief Executive Officers’ ownership (OWN), and Chief Executive Officers’ remuneration (REM) while financial performance was captured using market value (MV). The study adopted ex post facto research design to explore how Chief Executive Officers’ attributes impact financial performance of ICT companies. The study employed secondary data collected from financial statements of listed ICT companies for a period of thirteen (13) years from 2012 to 2024. The data were analyzed using panel least squares (PLS) regression technique, and correlation analysis employed to derive meaningful insights. This was carried out with the aid of the E-view 10.0 software and Excel package. Findings from the study revealed that Chief Executive Officers’ political connection and Chief Executive Officers’ tenure were found to have negative but insignificant impacts on financial performance while Chief Executive Officers’ educational qualification, Chief Executive Officers’ ownership and Chief Executive Officers’ remuneration were found to have positive and significant impacts on financial performance. Thus, the study concluded that CEO attributes enhanced financial performance in listed companies in Nigeria The study recommended that listed ICT companies in Nigeria should prioritize merit-based executive appointments and limit reliance on political connections in order to enhance financial performance.