CEO EXPERIENCE AND FINANCIAL DISTRESS LIKELIHOOD OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

This study examines the effect of CEO experience on financial distress likelihood of listed deposit money banks in Nigeria during the periods of 2007 to 2021. In that regards, fourteen listed deposit money banks that formed the population of this study were all considered as sample of the study as census sampling technique. A correlational and ex-post factor research design is considered suitable for the study. A secondary source data was employed where an unbalanced panel data was extracted through annual audited financial statement of the sampled banks. A logistic regression technique was employed for measuring the dependent variable via Multi Discriminant Analysis approach of a modified Althman Z score model. Subsequently, a multiple regression model was employed to analysis as far as the study is concern. It was found that CEO experience has an insignificant effect on financial distress likelihood of listed deposit money banks in Nigeria negatively. It is therefore recommended that board of Nigerian listed deposit money banks should not give a priority to CEOs years of experience outside the banking sector in the appointment of their CEOs, considering the unique challenges and dynamism of the current business environment due to competitions and innovations in our business operations, which cannot be restrained by the past experience in order to promote the organisation's performance and ensure its survival.