Joshua OGESUE

This study aims to investigate the relationship between having a diverse board of directors and financial success of manufacturing companies listed on the Nigeria stock exchange. In other words, the study wants to find out if having a diverse board (in terms of gender, ethnicity, age, educational background) can affect how well these quoted manufacturing companies perform financially. In this study, the ordinary least square regression (OLS) was used in this study for analyzing the data gathered. This study adopts OLS because it estimate the relationship between one or more independent variable and a dependent variable. The statistical package for social science (SPSS) was used to analyze the data collected for this study. The findings obtained shows that the method of the regression analysis used shows a
negative relationship between board ethnicity and firm financial performance which validates the findings or reject the hypotheses formulated for the study providing useful insight into the influence of the board diversity of factors on firm financial performance in the manufacturing industry in Nigeria. In conclusion, having a diverse and inclusive board of directors, is crucial for organizations to achieve long term success in today’s competitive environment. The study recommends that organization should actively seek to incorporate directors with varying levels of expertise. This can be done through targeted recruitment efforts and mentorship programs that facilitate transfer between seasoned professionals and emerging leaders. The study also recommends the importance of formal education which
needs to be considered as diverse skill sets and experience that potential board members bring to the firm.