Managers’ Roles in Corporate Governance Practices of Multinational Upstream Oil Companies in Nigeria.
Management is an important element in the success of an organization and integrate optimal management strategies into their corporate governance practices. This study investigates the influence of managerial roles on the corporate governance practices of multinational upstream oil companies in Nigeria. The study adopted a quantitative research method in which primary data were obtained from the top echelons, middle level and line managers of the companies through a purposive sampling technique. A total of 320 copies questionnaire were administered amongst the staff of the three multinational upstream oil companies and data obtained were analysed using the Partial Least Square in Structural Equation Modelling (PLS-SEM). The result of the study revealed the managers’ role informational only has a positive and significant relationship with the internal corporate governance practices and no significant relationship with external corporate governance practices. The findings of the study also revealed that managers’ role decisional has a positive significant relationship with both internal and external corporate governance practice. In conclusion, this study underscores the crucial importance of effective resource management and accountability in enhancing governance frameworks. The results highlight that managerial actions related to resource allocation and accountability are vital for improving corporate governance in the upstream oil sector. Keywords: Board Structure, Managerial Controls, Resource Allocation, Audit, Accountability.