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ABSTRACT
This study examined the effect of board diversity on financial performance of listed multinational firms in Nigeria. The study covered a sample of eighteen (18) listed multinational firms and utililised panel data from 2015 to 2022. Five hypotheses were raised and evaluated using the robust least squares estimator. It was revealed that: board size significantly affects the financial performance of listed multinational firms in Nigeria; board gender diversity does not significantly affect financial performance of listed multinational firms in Nigeria; ownership concentration does not significantly affect the financial performance of listed multinational firms in Nigeria; board ethnicity significantly affects the financial performance of listed multinational firms in Nigeria; and board professional qualification significantly affects the financial performance of listed multinational firms in Nigeria. Based on these findings, it was recommended that: balancing the number of directors to ensure effective decision-making while avoiding excessive board size can lead to improved financial outcomes; companies should actively seek directors with diverse professional backgrounds and expertise, companies should strive to create more diverse boards that reflect the multicultural nature of Nigeria. By; it is essential for firms to continue their efforts to promote gender diversity on boards; and companies should remain vigilant in monitoring ownership structures.
