Author(s): Olugbenga Jinadu, Uwalomwa Uwuigbe, Olubukola Ranti Uwuigbe, Osariemen Asiriuwa, Sylvester Eriabie, Ajetunmobi Opeyemi, Ilogho Simon Osiregbemhe
This study investigated whether a significant relationship exists between ownership concentration and corporate performance of Nigerian multinational banks. The corporate annual reports for the periods 2010-2014 were utilised as the main source of secondary data. In testing the research hypotheses, the study adopted the use of panel least square regression method to analyse the data collected from annual reports of the Nigerian multinational banks. Also, the study made use of correlational research design for testing the expected relationship between the variables. Findings revealed a significant negative relationship between ownership concentration and corporate performance of Nigerian multinational banks. In addition, an insignificant positive impact of foreign ownership on corporate performance exists. We also found a significant negative impact of domestic ownership on corporate performance. The study recommends that Nigerian multinational banks should reduce ownership concentration and domestic ownership in order to increase the level of corporate performance. In addition, foreign ownership should be encouraged as a result of its technical expertise and financial support that improve corporate performance.