Board Attribute and Cash Holdings among Listed Companies in the Nigerian Exchange Group

Atu, Sandra Ese (), Atu, Osadebamwen Michael (), Aliagu, Samuel Chukwuka () and Eichie (atu) Favour Osaro ()
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Atu, Sandra Ese: Audit Staff - Atu Omimi-Ejoor Osaretin & Co, Postal: (Chartered Accountants),, https://www.afarng.org/jfafi/
Atu, Osadebamwen Michael: Igbinedion University, Postal: Okada, https://www.afarng.org/jfafi/
Aliagu, Samuel Chukwuka: Director of Procurement,, Postal: Benson Idahosa University, Benin City.,, https://www.afarng.org/jfafi/
Eichie (atu) Favour Osaro: HOD Accounting, Postal: Western Delta University, Oghara, Delta State, https://www.afarng.org/jfafi/

Journal of Forensic Accounting & Fraud Investigation (JFAFI), 2022, vol. 7, issue 1, 64-87

Abstract: This study examined board a􀄴ributes and cash holdings of non-financial firms listed in the Nigerian Exchange Group. Twenty (20) selected non-financial firms were selected through simple convenient sampling technique over a period of six (6) years (2016 – 2021). The model specification captured cash holdings (CSHR) as the dependent variable, board independence (BIND), board size (BDS) and chief executive officer ownership (CEOOWN) for corporate governance, were the independent variables. The study employed simple random sampling technique to collect secondary data. The panel estimation technique was adopted. The study found that board independence and board size while CEO equity ownership exhibits negative significant impact on cash holdings at 5% level of significance. The study therefore recommends that firms should always enhance the vigilant role of the board by having an appropriate mixture of executive and non-executive members.

Date: 2022
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