Corporate Governance and Non-financial Performance of Quoted Fast Moving Consumer Goods (fmcg) Companies in Nigeria
Year: 2025
Type: article
Study design: Observational Study
Abstract: This study investigates the relationship between corporate governance and non-financial performance, specifically focusing on customer satisfaction in quoted Fast Moving Consumer Goods (FMCG) companies in Nigeria. The research aims to determine the effects of board composition, board independence, and board committees on customer satisfaction through a Purposive sampling survey of 394 accountants, auditors and management staff across FMCG companies. Utilizing a structured questionnaire with a five-point Likert scale, data analysis includes descriptive statistics and multiple regression models to examine these relationships. The findings indicate that board independence and board committees have significant impact on customer satisfaction, (β = 5.39, p = 0.000; β = 0.48, p = 0.000 respectively), while Board composition does not have significant influence on customer satisfaction (β = -0.18, p = 0.18). The p-value (0.000) for board independence and board committee is extremely small, much less than the standard significance level of 0.05. This suggests that the regression model is statistically significant. The study concludes that board independence and board committee significantly influence customer satisfaction in quoted Fast Moving Consumer Goods (FMCG) companies in Nigeria. The study underscores the complexity of governance impacts in the Nigerian Fast Moving Consumer Goods sector and recommends further exploration into additional governance dimensions and external market factors that may also influence non-financial performance metrics beyond customer satisfaction.
Institutions: Crescent University, Lead City University
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4411252987