FIRM PERFORMANCE

The financial performance of firms, especially Deposit Money Banks (DMBs), plays a pivotal role in determining economic stability, investor confidence, and overall national development. At the core of this performance lies corporate governance, with the board of directors serving as a critical determinant of governance effectiveness. Acting as the bridge between shareholders and management, the board of directors is tasked with ensuring that the organization operates in alignment with stakeholder interests. Through its strategic oversight and decision-making roles, the board has a profound impact on a firm's financial outcomes, sustainability, and competitive positioning (Fama & Jensen, 1983). These studies, while insightful, leave notable gaps in understanding. Most of the existing literature has been conducted in developed countries, where governance frameworks, market dynamics, and cultural factors differ significantly from those in Nigeria. Moreover, few studies have examined the combined influence of board size, gender diversity, and board independence on financial outcomes in Nigeria’s banking sector. The inconclusive findings on gender diversity and the context-dependent effects of board independence further emphasize the need for research tailored to Nigeria’s financial and regulatory landscape.

The broad objective of this study was to examine the relationship between green disclosure and firm performance in the Nigerian Exchange Group The method used in the research is the ordinary least square and the content analysis of the annual reports of individual firms. In this case, the researchers analyzed the annual reports of the selected firms to identify the type and extent of green information that was disclosed. The study found that green disclosures (ENVD) have a statistically significant positive impact on financial performance (ROA). This is evidenced by the statistically significant coefficient of ENVD in the regression model (-0.0019, p-value = 0.0749). Additionally, the correlation matrix revealed a positive but weak correlation between ENVD and firm size (FSIZE), suggesting that larger firms tend to disclose more green information. It is therefore recommended that firms should disclose more green information to have better financial performance.

The most crucial level of control in every organization is board of directors. However, the role of a diverse board on the financial performance of a firm can never be over emphasized. Diversity in terms of gender, independent directors and board composition are expected to affect the advisory role of board of directors due to the diverse information they posses. Thus, the study investigates the effect of board diversity on financial performance of consumer goods firms in Nigeria, the study covers a period of five years (2018-2022). The population of the study is made up of the twenty six (26) listed consumer goods firms as at 31st December, 2012. A sample of seventeen (17) firms was drawn from the population as they have all the information required within the period under study. Secondary data was obtained from the annual report and account of sample firms. The study used correlational research design and a multiple regression technique was employed for analysis to determine the effect of board diversity on financial performance of firms under study. The result was interpreted using fixed-effect regression model. The finding of the study showed that two of diversity variables (Independent director and board composition) have a positive effect financial performance and gender diversity has no significant impact on firm performance. The study, therefore, concludes that on the overall board diversity has a significant impact on financial performance of the firms under study. It is therefore, recommended that regulatory authorities should encourage firms to consider foreign directors in their board room
when appointing board of directors for efficient monitoring and effective board oversight function.

This study investigated the effect of audit client attributes on firm performance using panel data of twelve banks for the period 2015 – 2022. The variables considered were firm performance proxied by return on assets, firm size, firm age, firm leverage, and board size. The study carried out a histogram normality test, Breusch-Pagan-Godfrey test of heteroskedasticity, Ramsey RESET model specification test, Serial correlation test, correlation analysis and regression analysis. The F-statistics indicated that all the explanatory variables taken together are statistically significant. The regression result revealed that board size and firm age have a negative and insignificant influence on firm performance. The firm leverage maintains a positive and significant relationship with firm performance firms considered. The study recommended that firm managers should focus on optimizing firm leverage to improve their firm performance and the firm should ensure that the board size is well regulated.