The Impact of CEO Duality on Decision-Making Efficiency in Manufacturing Firms in Katsina State
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Background of the Study
CEO duality, which refers to a situation where a single individual holds both the roles of Chief Executive Officer (CEO) and Chairperson of the Board, has been a subject of debate in corporate governance literature. Proponents argue that CEO duality can lead to streamlined decision-making and a unified strategic vision, while critics claim it may undermine board independence and result in inefficiencies due to unchecked executive power.
In Nigeria, the manufacturing sector is pivotal to economic growth, providing employment opportunities and contributing significantly to GDP. However, the sector is often plagued by governance challenges that impact decision-making efficiency, operational productivity, and long-term sustainability. Katsina State, with its growing number of manufacturing firms, presents an ideal context to explore the effects of CEO duality on decision-making processes. This study investigates how CEO duality influences decision-making efficiency in manufacturing firms operating in Katsina State.
Statement of the Problem
Effective decision-making is crucial for the success of manufacturing firms, as it determines their ability to respond to market demands, regulatory requirements, and competitive pressures. CEO duality, while offering potential advantages in centralized leadership, may also lead to conflicts of interest, reduced accountability, and slower decision-making processes.
Despite the relevance of CEO duality in corporate governance, its specific impact on decision-making efficiency in Nigerian manufacturing firms has not been adequately explored. This study seeks to address this gap by analyzing the implications of CEO duality on decision-making efficiency in manufacturing firms in Katsina State.
Objectives of the Study
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To examine the prevalence of CEO duality in manufacturing firms in Katsina State.
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To evaluate the impact of CEO duality on decision-making efficiency in these firms.
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To propose strategies for improving governance structures in manufacturing firms.
Research Questions
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How prevalent is CEO duality in manufacturing firms in Katsina State?
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What is the impact of CEO duality on decision-making efficiency in these firms?
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What strategies can improve governance structures in manufacturing firms?
Research Hypotheses
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CEO duality significantly affects decision-making efficiency in manufacturing firms.
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Decision-making efficiency is higher in firms without CEO duality compared to those with CEO duality.
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Effective governance structures mitigate the potential drawbacks of CEO duality.
Scope and Limitations of the Study
The study focuses on manufacturing firms in Katsina State, examining the prevalence and effects of CEO duality on decision-making efficiency. While the findings provide valuable insights, they may not be generalizable to other sectors or states. Limited access to governance data may also pose challenges.
Definitions of Terms
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CEO Duality: A governance structure where one individual serves as both CEO and Chairperson of the Board.
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Decision-Making Efficiency: The ability of an organization to make timely and effective decisions.
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Manufacturing Firms: Companies engaged in the production of goods through industrial processes.
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