EFFECTS OF CORPORATE GOVERNANCE CHARACTERISTICS ON FIRM PERFORMANCE OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA

ABSTRACT This study examines the Effects of corporate governance characteristics on the firm performance of listed consumer goods companies in Nigeria. The research specifically investigates the impact of board independence, board diversity, and board meeting frequency on firm performance, measured by return on equity (ROE). An ex post facto non-experimental research design was adopted, relying on secondary data extracted from the audited annual reports of 15 listed consumer goods firms on the Nigerian Exchange Group. Descriptive and inferential statistical techniques, including correlation and simple regression analysis, were employed to analyze the data. The model specification was guided by existing literature, and hypotheses were tested at a 95% confidence level. The findings reveal that board independence, board diversity, and board meeting frequency each have a positive and significant effect on the ROE of listed consumer goods companies. These results highlight the importance of effective board structures in driving corporate performance. The study further concludes that firms with more independent directors, greater female representation on boards, and frequent board meetings tend to perform better financially. It recommends enhancing board independence, promoting gender diversity, and increasing board meeting frequency to strengthen corporate governance and improve profitability among consumer goods companies in Nigeria.