Abstract
This
research examines firm characteristics, corporate governance and audit delay in
Nigeria. The main objective is to examine the relationship between firm age and
audit delay and also determine the relationship between number of committees on
corporate governance and audit delay. The secondary source i.e. audited annual
reports and accounts of the sampled companies listed on the Nigeria Stock
Exchange was used for data collection while the findings were analyzed using
OLS statistical technique. The study discovered that firm age has a positive
significant relationship with audit delay and that board size has a positive
significant relationship with audit delay. The study concludes that audit fee
has positive relationship with delay audit, implies that the larger the audit
charged by audit firm the wider the audit delay. The study however recommends
amongst others that companies should be mandated to shift their balance sheet
date to July to avoid December rush and that regulatory bodies should come up
with a specified model that will reveal the amount to be charged by audit firms
for audit services.
TABLE OF CONTENTS
Title
Page i
Certification
ii
Dedication
iii
Acknowledgements
iv
Abstract
v
Table
of Contents vi
Chapter One:
Introduction 1
1.1
Background to the Study 1
1.2
Statement of Problem 4
1.3
Research Questions 5
1.4
Objective of the Study 6
1.5
Statement of Hypothesis(es) 6
1.6
Significance of the Study 7
1.7
Scope of the Study 8
1.8
Limitations of the Study 8
1.9
Definition of Terms 10
Chapter
Two: Literature Review
12
2.1 Introduction
12
2.2 Organizational
Performance 16
2.2.1 Concept of Performance Appraisal 18
2.2.2 The Performance Appraisal Process 20
2.2.3 Types of Staff Performance Evaluation 22
2.2.4 Steps in Staff Appraisal 23
2.2.5 Factors that Contribute to Performance
Appraisal 24
2.2.6 Method of Performance Appraisal 26
2.2.7 Objective of Performance Appraisal 30
2.2.8 Ensuring Effective Performance Appraisal Generally 32
2.3 Employee
Motivation 33
2.3.1 Characteristics of Motivation 36
2.3.2
Ways of Motivation 37
2.3.3
Steps in Motivation 37
2.3.4
Test of Motivation 38
2.3.5
Theories of Motivation 41
2.3.6 Victor Vrooms’ Expectancy Theory 46
2.3.7 Douglas McGregor’s Theory (X AND Y) 47
2.4 Relationship between Motivation and
Performance 50
2.5 Fostering the will to work 52
2.6 The
Conceptualization of the Determinant of an Organizational Performance 55
2.6.1 Individual Judgement-Based Merit Reward Systems 56
2.6.2 Goal Setting and Management by Objective 57
2.6.3 Staff Selection 60
2.6.4 Training and Development 61
2.6.5 Leadership 63
2.6.6 Organization Structure 65
2.7 Summary
of the Review 66
Chapter
Three: Methodology 68
3.1
Introduction 68
3.2
Research Design 68
3.3
Population of the Study 68
3.4
Sample Size 68
3.5
Sampling Techniques 69
3.6
Sources of Data Collection 69
3.7
Method of Data Presentation 69
3.8
Method of Data Analysis 70
Chapter
Four: Data Presentation, Analysis and Discussion 72
4.1 Introduction 72
4.2 Data Presentation and Interpretation 72
4.3 Data Analysis and Hypothesis Testing 73
4.4 Discussion of Findings 86
Chapter
Five: Summary, Conclusion and Recommendations 94
5.1
Introduction 94
5.2 Summary of Findings 95
5.3
Conclusion 96
5.4
Recommendations 97
References
99
CHAPTER ONE
INTRODUCTION
1.1
Background to the Study
Managers
in all types of organizations are continually faced with the fact that vast
differences exist in the performance of a group of employees. Some employee
always perform at high level, need little or no direction and appear to enjoy
what they are doing, on the other hand, other employees perform only at
marginal levels, require constant attention and are often absent from their
work station. The reasons for these differences in performance are varied and
complex, some of the difference could be attributed to individual
characteristics, such as personality, intelligence, or ability. We could also
focus on organizational influence such as job rewarding system, the supervision
style, Training and development package, selection process, management by objective
used by the organization are contributing to these difference in performance.
The core concept associated with each of these properties is motivation.
Therefore,
one of the major problems controlling management is that of motivating workers
to perform assigned task to meet or surpass predetermined standard goals.
Motivation
is one of the three factors in the function of directing and is defined as that
energizing force that induces or compels and maintains behaviour. Human
behaviour is motivated, it is goal directed (Nwachukwu, 1988). It is not easy
to motivate an individual for the success of any motivational effort depends on
the extent at which the motivator meets the needs of the individual employees
for whom it is intended. Motivation is a internal psychological process whose
presence or absence is inferred from observed performance. Motivated behaviour has three basic
characteristic viz;
1. It
is sustained; it is maintained for a longtime until satisfied.
2.
It is goal directed, it seeks to achieve
an objective.
3.
It results from felt need, an urge
directed towards a need (Nwachukwu, 1988:181)
The
motivational forces shaping business enterprise are many and varied. They are
related to the internal and external conditions in which the organization
operates. While profit is, without question the primary objective of
businessmen, it is by no means the only one nor is it always minimized, striving
for security, power, and prestige frequently play important and sometimes opposing
roles (George, 2001).
Within
a large corporation diverse pattern on motivation maybe found, some are
motivated by the job security and the need to fulfill the expectation of their
peers, some are organization men and others seem to be searching for prestige.
Not only will the goals of management vary with the motivational pattern of men
occupying the managerial ranks, but will also depend to a considerable extent
upon the particular situation of the business or industry at the time.
Another
core notion in this study is performance; it is this variable that is the key
to evaluating the effectiveness of individuals, groups, leaders and
organization. When performance is satisfactory, the organization is judged to be
successful. Thus all the variables in this study are linked to the performance
segment of the model. In summary, it is apparent why the topic of
organizational performance and motivation remain one of the most important when
considering organizational behaviour and performance. The view of the individual
worker as unlimited resources who is solely motivated by economic means is far
too simplistic. What managers need are approaches to acquire, motivate and
retain these valuable Resources.
1.2
Research Problem
Much
have been said and written about the importance of motivation in the attainment
of organizational performance. Most business organizations acknowledged the
importance of motivation to the efficient and effective management of their
organizational resources. It is however necessary to point everyday activities,
we met with people whose character and behaviour, perception, attitude, goals
and value systems and expectation, are in no way similar to one another or to
the managers. Therefore, behind every management decision and action are
assumption about human nature needs and behaviour pattern. Therefore, it is
important for management to diagnose the situation confronting motivational style
or system that will improve their chances of success; hence it is on this basis
the researcher would examine the nature and extent of motivation given to the
employees and their bearing on the organizational performance.
1.3 Research
Questions
In order to achieve the objectives of
this research, the following questions need answer(s).
1. What is the relationship between
Organizational performance and employee motivation?
2. What is the relationship between chief
executive officer management by objective and organizational performance?
3. Are employees motivated through improved
recognition and advancement they have on training and development on
organizational performance?
4. What is the relationship between employees
selection of organizational members and organizational performance?
5. What is the relationship between the joint
actions of these variable and organizational performances?
1.4
Objective of the Study
The
following are the objective of the study;
1. To determine the relationship between
Organizational performance and employee motivation.
2. To find out the relationship between chief
executive officer management by objective and organizational performance.
3. To determine if employees motivated through
improved recognition and advancement they have on training and development on
organizational performance.
4. To determine the relationship between
employee’s selection of organizational members and organizational performance.
5. To find out the relationship between the
joint actions of these variable and organizational performances.
1.5 Research Hypotheses
The
research hypotheses relevant to the above stated questions and objectives were:
Hypothesis
One
HO: Organizational
performance is negatively related to employees motivation.
HI: Organizational performance is positive
related to employees’ motivation.
Hypothesis Two
HO:
There is no significant relationship
between chief executive officer management by objective and organizational
performance.
HI: There is significant relationship between
chief executive officer management by objective and organizational performance.
Hypothesis Three
HO: Employees are not motivated through improved
recognition and advancement they have on training and development.
HI: Employees are motivated
through improved recognition and advancement they have on training and
development.
Hypothesis Four
HO: There is no
relationship between employees selection of organizational
members
and organizational performance.
HI: There is significant
between employees selection of organizational members and organizational
performance.
Hypothesis Five
HO: There is no significant
relationship between the joint actions of these variables and organizational
performance.
HI: There is significant
relationship between the joint actions of these variables and organizational
performance.
1.6 Significance of the Study
a. Management: The research will create
greater awareness among the management of industries and commerce, regarding
employees motivation and organizational performance in business. It will equip
management with motivational techniques appropriate in ensuring employees compliance
and higher organizational performance.
b. Stakeholder: It enables the
stakeholders to identify the factors of motivation such as rewarding system,
selection process, training and development, and management by objective that
will improve organizational performance.
c. Researchers: The
study will be relevant to researcher in similar or related field as it
contributes to the stock of existing knowledge in the subject matters and
therefore recommended for further study.
1.7 Scope of the Study
The
scope of the study border on the impact of motivational system adopted by
management in organizational performance taking into consideration both private
and public enterprise. Benin City of Edo State was focused on in carrying out
this study with a time frame of 5 years (i.e. 2009 – 2014). For an effective
survey, a sample size of 120 was used.
1.8 Limitation of the Study
In
writing this project, so many problems were encountered, which are listed
below:
·
Geographical Coverage: Factor that may
likely affect the work is the issue of investigating the concerned people in
carrying out the research work.
·
Problem of sourcing for material: The
research was faced with problems of getting current materials, textbooks,
journals and seminar papers related to subject matter.
1.9 Definition
of Terms
1. Employee: An
employee is an individual who was hired by an employer to do a specified. The
employer is hired by the employer after an application and interview result in
his or her selection as an employer.
2. Motivation: Motivation
is the internal and external factors that stimulate desire and energize to be
continually interested and committed to their job or to make an effort to
attain their goal.
3. Organization:
An organization is a social unit of people that is structured and managed
to meet a need or to pursue collective goals.
4. Performance:
Performance is the accomplishment of a given task measured against present
known standard of accuracy, completeness, cost and speed.
5. Shareholder:
Shareholder is an individual, group or organization that owns one or more
share in a company, and in whose name the share certificate is issued.
6. Performance appraisal: Performance
appraisal is the process by which a manager or consultant examines and evaluate
an employee’s work behaviour by comparing it with present standard.
7. Job description: Job
description is a broad, general and written statement of a specific job, base
on the findings of a job analysis.
8. Training:
Training can be seen as an organized activity aimed at imparting
information and or instructing to improve the recipient’s performance or to
help him or her attain a required level or knowledge or skill.
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