Munich Personal RePEc Archive

Ethical Issues and Performance of Nigerian Insurance Companies

Olayemi, Olufemi Olabode and Okonji, Patrick Sunday and Gbadamosi, Taofeek Olalekan and Oghojafor, Ben E. Akpoyomare (2020): Ethical Issues and Performance of Nigerian Insurance Companies.

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Abstract

This study investigated Ethical Issues in Business and Performance of Nigerian Insurance Companies. The specific objective was to establish the effect of business ethics variables on the performance of Nigeria Insurance Companies. Data collection was with the aid of a structured questionnaire administered on 411 employees of insurance companies in Nigeria in the 10 selected organization. A total of 390 responses were processed for analysis. . Statistical techniques such as descriptive and inferential statistics (regression and correlation) were applied in the analysis. It was observed that there exists strong relationship between business ethics and performance of Nigerian Insurance companies. Workforce diversity was found to have negative connection with Nigerian Insurance Companies’ Performance. It was revealed that strong positive relationship exists between organizational ethical code and Nigerian Insurance Companies’ Performance and environmental regulatory compliance impact the performance of Nigerian Insurance Companies negatively. While all the independent variables were found to be statistically significant in predicting the Nigerian Insurance Companies’ Performance. It was concluded that ethical issues significantly impact Nigerian Insurance companies’ performance. To enhance resource utilization and performance, it was suggested that Nigerian Insurance company may consider putting ethical issues as priority in all dealings and guide it jealously in order to wax stronger in the industry.

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