BOARD CHARACTERISTICS AND FIRM PERFORMANCE OF QUOTED MANUFACTURING FIRMS IN NIGERIA
Abstract
ABSTRACT
This study ascertained the effect of board characteristics on firm performance of quoted manufacturing firms in Nigeria. Specifically, this study determined the effect of board size and board independence on board gender diversity. Panel data were used in this study, which were obtained from the annual reports and accounts of thirteen (13) sampled listed manufacturing firms in Nigeria, specifically this study determined the effect of board size and board independence on board gender diversity. Panel data were used in this study, which were obtained from the annual reports and accounts of thirteen (13) sampled listed manufacturing factor for the periods 2018−2022. Ex-Post Facto research design was employed. The results showed no significant relationship between board size and net profit margin or between board independence and net profit margin. However, there was a positive and significant relationship between board gender diversity and net profit margin, indicating that an increase in board gender diversity is associated with an increase in firm performance. Hausman test revealed that a fixed effect model is the most appropriate model for this study. The result shows there's no significant relationship between the BSIZE & BI and NPM, while there's a positive and significant relationship between the BGD and NPM.
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