CORPORATE GOVERNANCE AND FIRMS’ PERFORMANCE IN NIGERIA

ABSTRACT

The broad objective of the study is to examine corporate governance and firms’ performance in Nigeria. The population consists of all quoted companies in the Nigerian Stock market while a sample of twenty (20) companies was examined for 2018-2022 financial year. Secondary data from financial statement of the sampled companies was used for the study. The data analysis techniques used is regression analysis using the estimated panel generalized least squares techniques. The study findings indicate that Audit committee size exert significant impact on firm performance, Ownership concentration exerts negative insignificant impact on firm performance. The effect of Board independence on firm performance is positive and not statistically significant. Managerial ownership did not impact significantly on firm performance. The study recommends that based on the empirical evidence provided there is the need for stock market players to incorporate corporate governance issues in their models for estimating the fair value of firm performance by way of stock price return and evaluating the moderate/or long term performance of managed portfolios.