Board Characteristics and Performance of Quoted Consumer Goods Firms: Evidențe from Nigeria
Board Characteristics and Performance of Quoted Consumer Goods Firms: Evidențe from Nigeria

Board Characteristics and Performance of Quoted Consumer Goods Firms: Evidence from Nigeria

Summary/Abstract: Corporate governance has become a worldwide concern over the year due to numerous corporate financial failures which has redirected the attention of policy makers to the significance of board characteristics. This study examined the relationship between board characteristics and performance of quoted Nigerian consumer goods firms. This study adopted historical research design and ten firms were selected from the population of twenty-seven Nigerian listed consumer goods firms, as at 2017, using simple random sampling technique. Secondary data over a period of seven years (2011-2017) was obtained from the annual reports of the selected firms. Analysis was performed on data collected adopting Auto Regressive Distributed Lag (ARDL) Regression and other post estimation techniques to determine the existence of relationship between the variables. The results of the study showed significant relationships between board independence, board diligence and performance of consumer goods firms (p<0.05). However, there is insignificant relationship between board size, board composition and performance of consumer goods firms (p>0.05). The study concluded that regular board meetings and board independence play significant roles in timely decision makings that affect the overall firm’s objective. Hence, the study recommended a regular board meetings and board independence that will be efficient in taking vital decisions that affect the firm’s overall performance

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