You have no items in your shopping cart.
ABSTRACT
Organisations cannot operate successfully without encountering various risks and obstacles; as a result, authorities have become more aware of the importance of risk awareness and meeting community demands for risk governance. Appropriate risk governance policies are thought to lead to improved financial performance, as evidenced by financial statements. The study’s main objective is to evaluate the influence of risk governance on firm performance of Nigerian manufacturing industries listed on the Securities Exchange Commission. To achieve this, a sample size of twenty-five (25) manufacturing enterprises in Nigeria were chosen using a random sample approach (judgmental sampling). A correlational research design was used in this study. Data was gathered from secondary sources; financial reports and corporate websites to determine the influence of risk governance on firm performance (2015- 2021)-7years. Also, the study used a panel regression for testing the hypotheses and determining the significance of the variables. According to the study's findings, there is no link between enterprise risk management and firm performance at p-value of 5% significant level (0.2766>0.05). The study observed an insignificant relationship between board-level risk committee size and firm performance at the pvalue of 5% level of significance (0.2236>0.05). At the p-value of 5% significant level (0.7720>0.05), board-level risk committee activism had no significant link with firm performance. At the p-value of 5% level of significance (0.2339>0.05), the analysis found no significant link between board-level risk committee independence and firm performance. The study observed enterprise risk management, board-level risk committee activism, and board-level risk committee independence are positively correlated with firm performance, while board-level risk committee size had a negative correlation with firm performance. As a result, this study indicated that risk governance does not have a significant influence on company performance, although it does have a favourable influence. It is recommended that manufacturing firms in Nigeria should adopt Enterprise Risk Management and have an efficient and effective Board-level Risk Committee set aside for risk matters to have not just a positive but substantial impact on firm performance.
