英文文献：Corporate governance mechanisms and firm financial performance in Nigeria-尼日利亚的公司治理机制和公司财务业绩
英文文献作者：Ahmadu Sanda,Aminu S. Mikailu,Tukur Garba
英文文献摘要：
Recent global events concerning high-profile corporate failures have put back on the policy agenda and intensified debate on the efficacy of corporate governance mechanisms as a means of increasing firm financial performance. This study attempts to address this question using pooled ordinary least squares regression analysis for a sample of 93 firms quoted on the Nigerian Stock Exchange for the period 1996–1999. While making a case for a board size of ten and for concentrated as opposed to diffused equity ownership, the results argue for the separation of the posts of Chief Executive Officer (CEO) and Chair. Moreover, although the results find no evidence to support the idea that boards with a higher proportion of outside directors perform better than other firms, there is evidence that firms run by expatriate CEOs tend to achieve higher levels of performance than those run by indigenous CEOs. In the main, the results are consistent with existing literature, but there is need to err on the side of caution in any attempt to generalize the findings as the sample selection was determined by the availability of data rather than byany probability criterion.

最近的全球事件涉及到备受瞩目的公司失败，这些事件重新被提上了政策议程，并加剧了关于公司治理机制作为提高公司财务业绩手段的有效性的辩论。本研究试图使用混合普通最小二乘回归分析来解决这个问题，样本为93家公司在1996-1999年期间在尼日利亚股票交易所上市。在证明董事会规模为10人、股权集中而非分散的理由的同时，研究结果支持首席执行官(CEO)和董事长职位的分离。此外，尽管研究结果没有证据支持外部董事比例较高的董事会比其他公司表现更好的观点，但有证据表明，由外派首席执行官运营的公司往往比本土首席执行官运营的公司表现更好。在主要情况下，结果与现有的文献是一致的，但是在任何试图概括发现的时候都需要谨慎犯错，因为样本的选择是由数据的可用性而不是由任何概率准则决定的。