EFFECT OF RISK MANAGEMENT INFORMATION DISCLOSURE ON CORPORATE FINANCIAL PERFORMANCE IN NIGERIA

ABSTRACT

This research study examines the impact of risk committee attributes on the corporate financial performance of banks in Nigeria. Focusing on deposit money banks listed on the Nigerian Exchange Limited for the period 2016-2021, the study investigates five key attributes of risk committees: size, gender diversity, meeting frequency, expertise, and independence. The objective is to discern the relationships between these attributes and corporate financial performance in a Nigerian banking context. The findings reveal that risk committee size has a negative and insignificant impact on performance. Gender diversity negatively affects performance, in contrast to findings from other regions. Meeting frequency has a negative impact on performance, emphasizing the need for a balanced approach. Risk committee expertise has a positive but insignificant effect. Risk committee independence positively impacts bank performance. Contextual awareness and a balanced approach to meeting frequency are recommended, along with sensitivity to gender diversity and the tailored expertise of risk committees. Emphasizing independence is also crucial.