Corporate Governance Mechanisms and Financial Performance of Listed Insurance Firms in Nigeria (Published)
This study examines the effect of corporate governance mechanisms on the financial performance of listed insurance firms in Nigeria. Focusing on board size, board independence, board gender diversity, and audit committee independence, the study uses audited financial statements from all 17 listed insurance companies with complete data from 2020 to 2024. Employing an ex-post facto research design and panel data analysis, the study applies descriptive statistics, correlation analysis, and Ordinary Least Squares (OLS) regression to assess the relationships between governance characteristics and Return on Assets (ROA). The findings reveal that board gender diversity and audit committee independence significantly enhance ROA, while board size and board independence do not have a statistically significant effect. The study highlights the importance of board composition quality, particularly gender diversity and independent audit oversight, in promoting firm performance. These results provide practical insights for regulators, investors, and corporate boards in optimizing governance structures for sustainable growth.
Keywords: Board independence, Board size, Corporate Governance, Financial Performance, audit committee independence, board gender diversity
Analysis of The Role of Corporate Governance Mechanisms in Shaping the Financial Reporting Practices of MNEs in Nigeria (Published)
This study analysed the role of corporate governance on the quality of financial reporting practices of Multinational Enterprises (MNEs) in Nigeria. The study made use of managerial hegemony theory to establish a theoretical foundation in examining the effect of corporate governance mechanisms in the quality of the financial reporting practices of MNEs in Nigeria. Ex-post facto research design and panel regression were employed by the study. The study extracted data from the audited financial statement of 20 active MNEs in the consumer manufacturing sector listed on Nigeria Exchange Group (NGX). The population forms the sample size using census sampling. Findings revealed that the size of board, board independence, gender diversity and board shareholding did not significantly affect the quality of financial reporting practices of MNEs in Nigeria. Firm size and firm leverage significantly moderate the interaction between corporate governance and the quality of financial reporting practices of MNEs in Nigeria. The study concluded that this finding is a pointer to the fact that the quality of financial reporting of MNEs in Nigeria may be determined by factors other than corporate governance such as the adoption of International Financial Reporting Standard (IFRS), regulations, and Nigerian laws (CAMA 2020). Therefore, the study recommends that MNEs in the consumer sector in Nigeria should strengthen their corporate governance mechanism with the aim of improving the quality of financial reporting of their businesses in the short-run and the confidence of their customers and investors in the long-run.
Keywords: Board size, Corporate Governance, board gender diversity, board independent, board shareholding, financial reporting practices