Effect of Corporate Culture on Business Performance of Deposit Money Banks in Nigeria

Abstract

The broad aim of this paper is to determine the effect of Corporate Culture on business performance of Deposit Money Banks in Nigeria. The research method adopted was descriptive research design using both secondary and primary self-administered questionnaire of five (5) Points Likert Scale, to gather data for independent and dependent variables respectively. The sample size adopted was 208 respondents from a population of 85676 which consists of employees from all Deposit Money Banks in Nigeria and financial annual report of the banks from 2005-2020. A multi-regression analysis technique was adapted and with the aid of SPSS, dependent and independents variables were tested. The study revealed that Clan Culture and Market Culture are the only two types of corporate culture dimensions with significant effect on organizational performance. The study conclusion is the clan culture and market culture had significant and positive effect on net assets of deposit money banks in Nigeria. The study recommends among others that Deposit Money Banks should encourage a culture in which employees are allowed to understand how the organizations operate their vision, mission and goals that guide all stakeholders for the overall organizational performance.