BOARD CHARACTERISTICS AND FINANCIAL PERFORMANCE OF LISTED AGRICULTURAL FIRMS IN NIGERIA

ACCOUNTING

This study investigated the effect of board characteristics on the financial performance of listed agricultural firms in Nigeria. Three board characteristics—board size, independence, and gender diversity—as well as one financial performance indicator—Return on Equity (ROE)—were used as proxies. Three distinct aims, study questions, and hypotheses were developed using these dimensions and measurements. An ex-post facto research design was used in the study. Five publicly traded agricultural enterprises in Nigeria made up the study's sample. All 5 listed agricultural enterprises were taken into consideration using the census sampling technique. This study used secondary sources that spanned the years 2012 through 2021. The Unit Root Test, Multiple Regression, and descriptive statistics were all used in this study to analyze the data. According to the study's findings, board independence has a considerable impact on return on equity, board gender diversity has no meaningful impact, and board size has no discernible relationship to return on equity. The study's findings support the conclusion that the influence of board features on the financial performance of listed agricultural enterprises in Nigeria is negligible. To balance out the ratio of gender diversity, the study carefully advises listed companies in Nigeria to give serious consideration to the necessity of appointing more female board members. This would not only support the current gender equality movement but also increase profitability by reducing the likelihood of bankruptcy by having more female members who are skilled at assessing risk.

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