Organizational Culture, Government Regulations and Corporate Competitveness of Merged Deposit Money Banks in Nigeria
The Nigerian banking sector is germane to the growth of the nation’s economy and several reforms over the years have orchestrated merger and acquisition. The marriage of convenience occasioned by the banking consolidation exercise of 2005 by the Central Bank of Nigeria (CBN) led to dilution of ownership and fusing together banks with different goals, objectives and ideology. These have led to rebranding, cultural disharmony, and uncompetitive behaviours which were considered not suitable for the new direction. Crosssectional research design was adopted and primary data collated. The research instrument was validated and reliability was carried out using the Cronbach alpha analysis. A sample size of four hundred and seventy three (473) was determined using Roasoft sample size calculator. The result revealed that organizational culture significantly affected the corporate competitiveness of the surveyed banks. The study variables organizational culture (B =0.929, R2 = 0.619, p < 0.05, F(1,455) = 738.509), government regulations (B =0.710, R2 = 0.691, p < 0.05, F(1,454) = 106.413). This study concludes that an organization’s culture as influenced by government isvital in the discussion of corporate competitiveness of merged red organizations. The study recommends that the regulatory bodies should in future take into cognizance the cultural differences in bringing together banks with different ideology (culture) together.
