Title:
BOARD DIVERSITY AND FINANCIAL PERFORMANCE OF QUOTED FIRMS IN NIGERIA

Authors:
Owolabi, T.j., Bamisaye, T. O., Efuntade, a. O., Efuntade, Omotayo Olubunmi, Nigeria

Abstract:

This study examined the diversity and financial performance of the board of directors of Nigerian citation companies. The purpose of this study is to examine the relationship between board diversity variables and the financial performance of Nigeria's cited manufacturers. The board diversity variables used were board independence, board gender diversity, and board size, financial performance was measured by after-tax profit, and company size was a control variable. Was included as. The study extracted data from the financial statements of 10 Nigerian citations. The data were analyzed using post-hoc estimation tests such as the restricted F-test and Hausmann test, as well as correlation and panel regression analysis including random effects, fixed effects, and pooled OLS. As a result, board independence, board gender diversity, and board size have a positive impact on the after-tax profits of selected listed companies in Nigeria, but with little impact. Became clear. Therefore, the study concluded that there is a slight positive link between the diversity of the Nigerian board of directors and the financial performance of listed companies. Therefore, the level of diversity of the board of directors of Nigerian citation companies needs to be improved. This can improve the decision-making process needed to maintain financial performance.