Corporate Governance and Firms' Growth in Nigerian Listed Manufacturing Firms

Ovedje, Ogheneovo Helen (), Josiah, Mary and Adeolu-Akande, Modupeola Atoke ()
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Ovedje, Ogheneovo Helen: Department of Accountancy, School of Business Studies, Postal: Delta State Polytechnic, Otefe-Oghara, Delta State, Nigeria., https://www.afarng.org/mjms/
Josiah, Mary: Department of Accounting, College of Business and Management Studies, Postal: Igbinedion University Okada, Benin City,, Edo State, Nigeria., https://www.afarng.org/mjms/
Adeolu-Akande, Modupeola Atoke: Department of Management & Accounting, Faculty of Management and Social Sciences, Postal: Lead City University, Ibadan,, Nigeria,, https://www.afarng.org/mjms/

Multidisciplinary Journal of Management Sciences, 2022, vol. 4, issue 2, 15-25

Abstract: This study examined the relationship between corporate governance and firms' growth of selected listed manufacturing firms in Nigeria. Data were collected via secondary sources from the annual reports and accounts of forty (40) listed manufacturing firms during the period 2010-2019. Data of corporate governance (board size, independence and diversity) and firms' growth (revenue growth and market to book value) obtained were analyzed using multiple ordinary least square regression. The empirical findings among others showed that all corporate governance measures of the study had negative and insignificant relationship with revenue growth while significant and positive relationship was found for corporate governance and firms' market to book value (a growth measure of the study). On the basis of the findings, the study recommends that management of listed manufacturing firms on the NSE should maintain the statutory requirement of size of the board, diversity and independence because of its significant role they play in enhancing market to book value of the firm

Keywords: Board size; Board independence; Board diversity; Board meetings; Market to book value (search for similar items in EconPapers)
JEL-codes: G34 L25 M49 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ris:amjoms:0052

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