Board Composition and Market Valuations in Nigeria
Year: 2024
Type: article
Abstract: The study examined the influence of board size, board meeting frequency, board independence, and board gender o market valuation of firms (with proxy as Tobin's Q). A sample population of 33 non-financial listed firms in Nigeria between 2013-2022 were purposively selected and using pooled panel fixed effect model. The study found that board size does not significantly impact Tobin's Q, board meeting frequency does not have significant impact on Tobin's Q, and board independence does not significantly impact Tobin's Q. However, board gender diversity has a positive and significant impact on Tobin's Q. The study recommended evaluating the effectiveness of board size, allowing flexibility in meeting schedules, ensuring independent directors are truly independent and capable of providing effective oversight, encouraging board gender diversity, and focusing on the quality and productivity of board meetings. Additionally, it recommends ensuring independent directors have the necessary skills and experience to contribute effectively to maintaining high governance standards and fostering an inclusive culture that values diverse perspectives can positively impact firm performance.
Author: Sinebe, , Michael. T.
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7220514550