IMPACT OF BOARD QUALITIES ON FINANCIAL PERFORMANCE OF LISTED CONGLOMERATE FIRMS IN NIGERIA

Abstract

The aim of this paper was to empirically investigate the impact of board qualities on financial performance of listed conglomerate firms in Nigeria. The sample size used is thirty (30) conglomerate firms. Multiple regression was use to analyze the data obtained from annual reports for the period of 2018 – 2022. The paper found out that board meeting and board diversity have statistically positive and significant effect on financial performance, whereas board meeting attendance has no significant effect on financial performance of listed conglomerate firms in Nigeria. Based on the findings, the paper recommended that management of conglomerate firms in Nigeria should ensure regular meetings are held in the financial year. This would enable them to discuss issues that can improve the financial performance. Furthermore, management of firms should appoint more directors with higher qualifications, especially those who have PhD degrees. This would enable the board to bring innovations and creative thinking that would address financial challenges.