EFFECT OF BOARD MEETING FREQUENCY ON FINANCIAL PERFORMANCE OF LISTED OIL AND GAS COMPANIES IN NIGERIA
Abstract
Abstract
This study examines the effect of Board Meeting Frequency, Board Size, and Firm Size on the financial performance of listed oil and gas companies in Nigeria. Financial performance is measured using Return on Assets (ROA) and Return on Equity (ROE). An ex-post facto research design was adopted, and secondary data were obtained from the published annual reports of selected listed oil and gas companies in Nigeria. The study utilized 80 firm-year observations and employed Stata 14 statistical software for data analysis. Descriptive statistics, correlation analysis, and multiple regression analysis were conducted, while hypotheses were tested at the 5% level of significance. The findings reveal that Board Meeting Frequency, Board Size, and Firm Size have no statistically significant effect on ROA. Similarly, none of the explanatory variables significantly influence ROE. The study concludes that board activity, board structure, and firm size do not significantly drive financial performance of listed oil and gas companies in Nigeria. The study recommends that firms focus on qualitative aspects of board effectiveness and operational efficiency rather than relying solely on structural board attribute.
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