References
- Abid, L., Ouertani, M. N., & Zouari-ghorbel, S. (2014). Macroeconomic and bank-specific determinants of household’s non-performing loans in Tunisia: A dynamic panel data. Procedia Economics and Finance, 13(December2013), 58–21. https://doi.org/10.1016/S2212-5671(14)00430-4
- Adegbite, E. (2015a). Good corporate governance in Nigeria: Antecedents, propositions and peculiarities. International Business Review, 24(2), 319–330. https://doi.org/10.1016/j.ibusrev.2014.08.004
- Adegbite, E. (2015b). Good corporate governance in Nigeria: Antecedents, propositions and peculiarities. International Business Review, 24(2), 319–330. https://doi.org/10.1016/j.ibusrev.2014.08.004
- Adeola, O., & Ikpesu, F. (2017). Macroeconomic determinants of non-performing loans in Nigeria: An empirical analysis. The Journal of Developing Areas, 51(2), 31–43. https://doi.org/10.1353/jda.2017.0029
- Agrawal, A., & Knoeber, C. R. (1996). Firm performance and mechanisms to control agency problems between managers and shareholders. Journal of Financial and Quantitative Analysis, 377–397.
- Ahmed, F., & Bashir, T. (2013). Explanatory power of macroeconomic variables as determinants of non-performing loans: Evidence form Pakistan. World Applied Sciences Journal ,22(2), 243–255.
- Ajibo, K. (2015). Risk-based regulation: The future of Nigerian banking industry. International Journal of Law and Management ,57(3), 201–216.
- Akinlo, O., & Emmanuel, M. (2014). Determinants of non-performing loans in Nigeria. Accounting & Taxation, 6 (2), 21–28. https://doi.org/2157-0175
- Allen, F., Fukuda, S. I., Hoshi, T., & Miyajima, H. (2018). Corporate governance: Editor’s introduction. Journal of the Japanese and International Economies, 47(January), 1–2. https://doi.org/10.1016/j.jjie.2018.01.002
- Badar, M., & Yasmin, A. (2013). Impact of macroeconomic forces on nonperforming loans: An empirical study of commercial banks in Pakistan. Journal of Transactions on Business and Economics ,10(1), 23–45.
- Barth, J. R., Caprio, G., & Levine, R. (2004). Bank regulation and supervision: What works best? Journal of Financial Intermediation, 13(2), 205–248. https://doi.org/10.1016/j.jfi.2003.06.002
- Beltratti, A., & Stulz, R. M. (2012). The credit crisis around the globe: Why did some banks perform better? Journal of Financial Economics, 105(1), 1–17. https://doi.org/10.1016/j.jfineco.2011.12.005
- Berger, A. N., & DeYoung, R. (1997). Problem loans and cost efficiency in commercial banks. Journal of Banking & Finance ,21(6), 849–870.
- Boehmer, E. (1999). Corporate governance in Germany: Institutional background and empirical results. Germany: Humboldt University Berlin.
- Boudriga, A., Taktak, N. B., & Jellouli, S. (2010). Bank specific, business and institutional environment determinants of banks non-performing loans: Evidence from MENA countries. Journal of Chemical Information and Modeling, 53(September), 1689–1699. https://doi.org/10.1017/CBO9781107415324.004
- Boyd, J. H., Chang, C., & Smith, B. D. (1998). Moral hazard under commercial and universal banking. Journal of Money, Credit, Banking, 30(3.2), 426–468.
- Central Bank of Nigeria. (2010). Financial stability report. CBN.
- Central Bank of Nigeria. (2017). Financial stability. CBN.
- Central Bank of Nigeria. (2015). Financial stability report. Central bank of Nigeria. CBN.
- Central Bank of Nigeria. (2016). Financial stability report. Central bank of Nigeria. CBN.
- Chang, Y. H. (1992). Taiwan’s accounting profession: A response to national economic growth. International Journal of Accounting, 27(1), 57–68.
- Dalton, D. R., Daily, C. M., Johnson, J. L., & Ellstrand, A. E. (1999). Number of directors and financial performance: A meta-analysis. Academy of Management Journal ,42(6), 674–686.
- Del Briano-Turrent, G. C., & Rodríguez-Ariza, L. (2016). Corporate governance ratings on listed companies: An institutional perspective in Latin America. European Journal of Management and Business Economics, 25(2), 63–75. https://doi.org/10.1016/j.redeen.2016.01.001
- Demirag, I., Sudarsanam, S., & Wright, M. (2000). Corporate governance: Overview and research agenda. The British Accounting Review, 32(4), 341–354.
- Dimitrios, A., Helen, L., & Mike, T. (2016). Determinants of non-performing loans: Evidence from Euro-area countries. Finance Research Letters, 18, 116–119. https://doi.org/10.1016/j.frl.2016.04.008
- Djiogap, F. & Ngomsi, A. (2012). Determinants of bank long-term lending behavior in the Central African Economic and Monetary Community (CEMAC). Review of Economics & Finance, 1923-7529-2012-02-107-08.
- Ellul, A., & Yerramilli, V. (2013). Stronger risk controls, lower risk: Evidence from U.S. bank holding companies. Journal of Finance, 68(5), 1757–1803. https://doi.org/10.1111/jofi.12057
- EL-Maude, J. G., Abdul-Rahman, A., & Ibrahim, M. (2017). Determinants of non - performing loans in Nigeria’s deposit. Archives of Business Research, 5(1), 74–88.
- Erkens, D. H., Hung, M., & Matos, P. (2012). Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide David. Journal of Corporate Finance, 18(2), 389–411. https://doi.org/10.1016/j.jcorp
- Fama, E. F. (1980). Agency problems and the theory of the firm? Journal of Political Economy ,88(2), 288–307.
- Faphunda, F. M., & Eragbhe, E. (2017). Regulation, financial development, financial soundness and banks performance in Nigeria. Journal of Finance and Accounting, 5(3), 88–92. https://doi.org/10.12691/JFA-5-3-3
- Florackis, C., & Ozkan, A. (2009a). Managerial incentives and corporate leverage: Evidence from the United Kingdom. Accounting and Finance, 49(3), 531–553. https://doi.org/10.1111/j.1467-629X.2009.00296.x
- Florackis, C., & Ozkan, A. (2009b). The impact of managerial entrenchment on agency costs: An empirical investigation using UK panel data. European Financial Management, 15(3), 497–528. https://doi.org/10.1111/j.1468-036X.2007.00418.x
- Gesu, G. (2014). Determinants of nonperforming loans: Empirical study in case of commercial banks in Ethiopia (A published Msc thesis, Annual report). Jimma University, IMF.
- Ghosh, A. (2015). Banking-industry specific and regional economic determinants of nonperforming loans : Evidence from US states. Journal of Financial Stability Journal, 20, 93–104. https://doi.org/10.1016/j.jfs.2015.08.004
- Grove, H., Patelli, L., Victoravich, L. M., & Xu, P. T. (2011). Corporate governance and performance in the wake of the financial crisis: Evidence from US commercial banks. Corporate Governance: An International Review, 19(5), 418–436. https://doi.org/10.1111/j.1467-8683.2011.00882.x
- Hove, M. R. (1986). Accounting practices in developing countries: Colonialism’s legacy of inappropriate technologies. International Journal of Accounting ,1(3), 81–90.
- International Monetary Fund. (2018). World economic outlook. IMF.
- Isaac, L. (2014). Appraising the impact of budgeting and planning on the performance of financial institutions in Nigeria. Research Journal of Finance and Accounting, 5(16), 12–27.
- Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
- Jolliffe, I. (2002). Principal component analysis (2nd ed.). New York: Springer.
- Kauko, K. (2012). External deficits and non-performing loans in the recent financial crisis. Economics Letters Journal, 115(2), 196–199. https://doi.org/10.1016/j.econlet.2011.12.018
- Kingu, S., Macha, S., & Gwahula, R. (2018). Impact of non-performing loans on bank’s profitability: Empirical evidence from commercial banks in Tanzania. International Journal of Scientific Research and Management, 6(1), 71–78. https://doi.org/10.18535/ijsrm/v6i1.em11
- Klein, N. (2013). Non-performing loans in CESEE: Determinants and impact on macroeconomic performance (IMF Working Paper, WP/13/72). International Monetary Fund.
- Klomp, J., & Haan, J. D. (2015). Bank regulation and financial fragility in developing countries: Does bank. Journal of Advanced Research, 5(2009), 1–9. https://doi.org/10.1016/j.rdf.2015.11.001
- Konfi, S. (2012). Determining causes and impact of nonperforming loans on the operations of microfinance institutions: A case of Sinapi Aba Trust in Ghana (Published thesis (MBA)). Kwame Nkrumah University.
- Konstantakis, K. N., Michaelides, P. G., & Vouldis, A. T. (2016). Non-performing loans (NPLs) in a crisis economy: Long-run equilibrium analysis with a real time VEC model for Greece. Physica A, 451, 149–161. https://doi.org/10.1016/j.physa.2015.12.163
- Laeven, L., & Levine, R. (2009). Bank governance, regulation and risk taking. Journal of Financial Economics, 93(2), 259–275. https://doi.org/10.1016/j.jfineco.2008.09.003
- Lakshan, A. M. I., & Wijekoon, W. M. H. N. (2012). Corporate governance and corporate failure. Procedia Economics and Finance, 2(Af), 191–198. https://doi.org/10.1016/S22125671(12)00079-2
- Larcker, D. F., Richardson, S. A., & Tuna, I. (2007). Corporate governance, accounting outcomes, and organizational performance. The Accounting Review, 82(4), 963–1008. https://doi.org/10.2308/accr.2007.82.4.963
- Learmount, S. (2003). Theorizing corporate governance: Organizational alternatives. Journal of Interdisciplinary Economics ,14(1), 159–173.
- Louzis, D. P., Vouldis, A. T., & Metaxas, V. L. (2012). Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios. Journal of Banking & Finance, 36(4), 1012–1027. https://doi.org/10.1016/j.jbankfin.2011.10.012
- Love, I., & Rachinsky, A. (2015). Corporate governance and bank performance in emerging markets: Evidence from Russia and Ukraine. Emerging Markets Finance & Trade, 51(sup2), 101–121. https://doi.org/10.1080/1540496X.2014.998945
- Maddala, G. (2001). Introduction to econometrics. West Sussex, England: John Wiley & Sons Ltd.
- Magar, E. C. E., Phillips, L. H., & Hosie, J. A. (2008). Self-regulation and risk-taking. Personality and Individual Differences, 45(2), 153–159. https://doi.org/10.1016/j.paid.2008.03.014
- Maharmah, M. H., & Saadeh, G. A. (2015). The determinants of banks’ credit default at Jordanian commercial banks (Internal Perspective). Research Journal of Finance and Accounting, 6(10), 102–111.
- Makri, V., Tsagkanos, A., & Bellas, A. (2014). Determinants of non-performing loans: The case of Eurozone. Panoeconomicus, 61, 193–206. https://doi.org/10.2298/PAN1402193M
- Matei, A., & Drumasu, C. (2015). Corporate governance and public sector entities. Procedia Economics and Finance, 26(15), 495–504. https://doi.org/10.1016/S2212-5671(15)00879-5
- Messai, A., & Jouini, F. (2013). Micro and macro determinants of non-performing loans. International Journal of Economics and Financial Issues ,4(3), 852–860.
- Meyer, J. W., & Rowan, B. (1977). Institutionalized organizations: Formal structure as myth and ceremony. The American Journal of Sociology, 83(2), 340–363.
- Mpofu, T. R., & Nikolaidou, E. (2018). Determinants of credit risk in the banking system in Sub-Saharan Africa. Review of Development Finance, 8(2), 141–153. https://doi.org/10.1016/J.RDF.2018.08.001
- Mülbert, P. (2010). Corporate governance of banks after the financial crisis: Theory, evidence, reforms (April). ECGI – Law Working Paper No. 130/2009.
- Nakpodia, F., & Adegbite, E. (2018). Corporate governance and elites. Accounting Forum, 42(1), 17–31. https://doi.org/10.1016/j.accfor.2017.11.002
- Pett, M. A., Lackey, N. R., & Sullivan, J. J. (2003). Making sense of factor analysis: The use of factor analysis for instrument development in health care research. London: Sage Publications. https://doi.org/10.4135/9781412984898
- Pop, D., Octavian, C., & Gabriel, D. (2018). Liquidity-threshold effect in non-performing loans. Finance Research Letters Journal, 27(C), 1–5.
- Qian, M., & Yeung, B. Y. (2015). Bank financing and corporate governance. Journal of Corporate Finance, 32, 258–270. https://doi.org/10.1016/j.jcorpfin.2014.10.006
- Radivojevic, N., & Jovovic, J. (2017). Examining of determinants of non-performing loans. Prague Economic Papers, 26(3), 300–316. https://doi.org/10.18267/j.pep.615
- Ranjan, R., & Chandra, D. S. (2003). Non-performing loans and terms of credit of public sector banks in India: An empirical assessment. India, Reserve Bank of India Occasional Papers, 24(3).
- ROSC (Report on the Observance of Standards and Codes). (2004). Report on the observance of standards and codes – Nigeria. http:// www.worldbank.org/ifa/rosc_aa_nga.pdf
- Scott, W. R. (2004). Institutional theory: Contributing to a theoretical research program.In K. G. Smith & M. A. Hitt (Eds.), Great minds in management: The process of theory development. Oxford, UK: Oxford University Press.
- Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. Journal of Finance, 52(2), 737–783.
- Skarica, B. (2014). Determinants of non-performing loans in Central and Eastern European countries. Financial Theory and Practice, 38(1), 37–59. https://doi.org/10.3326/fintp.38.1.2
- Stewart, J. C. (1981). Company tax – Effective tax rates on profits. Journal of the Statistical and Social Inquiry Society of Ireland, 24(3), 101–134.
- Swamy, V. (2012). Impact of macroeconomic and endogenous factors on nonperforming bank assets. International Journal of Banking and Finance, 9.
- Tarchouna, A., Jarraya, B., & Bouri, A. (2017a). How to explain non-performing loans by many corporate governance variables simultaneously? A corporate governance index is built to US commercial banks. Research in International Business and Finance, 42(July), 645–657. https://doi.org/10.1016/j.ribaf.2017.07.008
- Tarchouna, A., Jarraya, B., & Bouri, A. (2017b). How to explain non-performing loans by many corporate governance variables simultaneously? A corporate governance index is built to US commercial banks. Research in International Business and Finance, 42(September 2016), 645–657. https://doi.org/10.1016/j.ribaf.2017.07.008
- Thakur, B. P. S., & Kannadhasan, M. (2019). Corruption and cash holdings: Evidence from emerging market economies. Emerging Markets Review, 38, 1–17. https://doi.org/10.1016/j.ememar.2018.11.008
- Tomak, S. (2013). Determinants of commercial banks’ lending behavior: Evidence from Turkey. Journal of Empirical Research ,3(8), 933–943.
- Udayasankar, K., Das, S., & Krishnamurti, C. (2005). Integrating multiple theories of corporate governance: A multi-country empirical study. Academy of Management Proceedings, 01–06.
- Ungureanu, M. C. (2008). Banks: Regulation and corporate governance framework. Corporate Ownership Control, 5(2), 1–19.
- Us, V. (2017). Dynamics of non-performing loans in the Turkish banking sector by an ownership breakdown: The impact of the global crisis. Finance Research Letters, 20(C), 109–117. https://doi.org/10.1016/j.frl.2016.09.016
- Wairimu, M. M., & Gitundu, E. W. (2017). Macroeconomic determinants of non-performing loans in Kenya. Research Journal of Finance and Accounting, 8(4), 97–105.
- Wijaya, C., & Atmoko, A. W. (2015). Corporate governance with the institutional theory approach on regional development banks in Indonesia. International Journal of Administrative Science & Organization, 22(2), 100–110.
- Zagorchev, A., & Gao, L. (2015). Corporate governance and performance of financial institutions. Journal of Economics and Business, 82, 17–41. https://doi.org/10.1016/j.jeconbus.2015.04.004
- Zagorchev, A., & Gao, L. (2016). Journal of economics and business corporate governance and performance of financial institutions. Journal of Economics and Business, 82(April), 17–41. https://doi.org/10.1016/j.jeconbus.2015.04.004
- Zhang, D., Cai, J., Dickinson, D. G., & Kutan, A. M. (2016). Non-performing loans, moral hazard and regulation of the Chinese commercial banking system. Journal of Banking & Finance, 63, 48–60. https://doi.org/10.1016/j.jbankfin.2015.11.010