Variables (code)

Operational Definitions

Prior Studies where inspiration were drawn from

Dependent Variable (Performance)

ROA

Net Income/Total Assets

Onyefulu, Okoye, & Orjinta (2019) , Agbeja, Adelakun, & Udi (2016)

Independent Variables (Market Risk proxies )

IRSK

log of Net Interest Margin (NIM) or Difference between the cost of borrowing and return on saving (investment) by bank customers

Agbeja, Adelakun, & Udi (2016) .

FXRSK

Measured as the log of exposure in a certain currency, multiplied with the variation in time of the foreign exchange.

Agbeja, Adelakun, & Udi (2016) .

EQRSK

Log of Variance between the expected return and the actual return provided by an investment.

Udoezika & Orjinta (2021) .

CARSK

Measured as Tier 1 capital + Tier 2 capital/Risk weighted assets

Udoezika & Orjinta (2021)