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DO WOMEN BOARD DIRECTORS CONTRIBUTE TO THE FINANCIAL PERFORMANCE OF LISTED FIRMS? INSIGHTS FROM NIGERIA

Sunday Oseiweh Ogbeide and Grace.N.ABUTU
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Sunday Oseiweh Ogbeide: Department of Accounting and Finance,Faculty of Humanities,Social and Management Sciences,Elizade University,Ilara- Mokin,Ondo State,Nigeria
Grace.N.ABUTU: Department of Leisure and Tourism Management,Federal Polytechnic,Idah, Kogi State,Nigeria.

Romanian Journal of Economics, 2022, vol. 54, issue 1(63), 113-125

Abstract: This study examined the effect of women board directors on the financial performance of listed firms in Nigeria in the reference period 2015 to 2020. The population of the study consists of all the quoted firms as at 31st December, 2020. A sample of eight seven (87) quoted firms in the non -financial sector was selected and data were collected over the period. Inferential statistics consisting of the General Method of Moment were used for the data analysis. The findings from the analysis showed that the proportion of women board members exerted a negative and non-significant effect on the financial performance of the sample firms. Board nationality, however, exerted a positive and insignificant effect on the firm’s finance performance in the reference period. The study concludes that while women board directors have no significant effect on firm financial performance, board nationality does. Based on the empirical findings obtained, the study recommends that the regulatory authority needs to come up with a policy to respond to the marginalization of females on the board of listed firms in Nigeria. The aim of this policy thrust should be targeted at reducing politics and biass against women on the corporate boards of listed insurance firms.

Keywords: women board directors; board nationality; firm size; financial performance. (search for similar items in EconPapers)
JEL-codes: M41 M42 (search for similar items in EconPapers)
Date: 2022
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