THE IMPACT OF BOARD OF ATTRIBUTES ON FINANCIAL PERFORMANCE OF NON FINANCIAL FIRMS IN NIGERIA.

ABSTRACT This study examined the impact of board attributes on the financial performance of listed Non-financial firms in Nigeria. The research was motivated by growing concerns about weak Board Attribute practices and declining financial performance within the sector. Specifically, the study investigated the effect of board size, board independence, board meeting frequency, and board gender diversity on financial performance, measured using Return on Assets (ROA). The research adopted an ex-post facto design and relied on secondary data extracted from annual reports and financial statements of selected listed Non-financial firms from 2016 to 2023. Descriptive statistics, correlation analysis, and regression techniques were used to analyze the data. The findings revealed that board size has a positive and in significant impact on financial performance, suggesting that firms with moderately large boards benefit from increased diversity and expertise. Board independence, board meetings, and gender diversity showed positive but statistically insignificant effects on ROA, indicating that these attributes may contribute to governance quality but do not strongly predict financial outcomes in the Nigerian Non-financial firms’ context. The study concludes that board attributes remain important determinants of firm performance and recommends that Non-financial firms strengthen board composition, enhance true independence, improve meeting effectiveness, and promote gender diversity. The study contributes to existing literature by providing recent empirical evidence on governance-performance relationships in Nigeria and offers insights for policymakers, regulators, and corporate managers. Suggestions for future research include expanding the scope to other sectors and incorporating additional governance variables.