Corporate Governance and Financial Performance of Listed Consumer Goods Firms in Nigeria

Nigerian Studies in Economics and Management Sciences, 2(1), 2019, pp9-17 ISSN: 2645-3061

9 Pages Posted: 10 Oct 2019

Date Written: 2019

Abstract

The study examined the effect of corporate governance surrogates on financial performance of quoted consumer goods firms in Nigeria. The population is made up of all listed consumer goods firms in Nigeria, from which 16 companies were randomly selected. The study used data gathered from financial statements of listed consumer goods firms in Nigeria. (2008-2017). Descriptive and inferential statistical methods were employed in analyzing the data gathered. Hausman test was also conducted to make a choice between random and fixed effect models of panel least square regression; which favoured random effect model. The study found that board composition and ownership concentration positively influenced profitability while size of the board and the status of Chief Executive Officer exerted negative but significant influence on profitability.

Keywords: Corporate Governance, Financial Performance, Listed Consumer Goods Firms

JEL Classification: M41

Suggested Citation

Awodiran, Muideen Adeseye, Corporate Governance and Financial Performance of Listed Consumer Goods Firms in Nigeria (2019). Nigerian Studies in Economics and Management Sciences, 2(1), 2019, pp9-17 ISSN: 2645-3061 , Available at SSRN: https://ssrn.com/abstract=3461380

Muideen Adeseye Awodiran (Contact Author)

Afe Babalola University ( email )

KM 8.5, Afe Babalola Way,
P.M.B 5454
Ado-Ekiti, Ekiti State, Western 234432
Nigeria

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