Corporate Governance and Financial Performance of Listed Firms in Nigeria; Z-Score Approach

IF 3 Q2 BUSINESS, FINANCE Journal of Public Budgeting, Accounting and Financial Management Pub Date : 2023-10-13 DOI:10.56201/jafm.v9.no9.2023.pg42.61

Ime Boniface Philip, Prof. Nkanikpo Ibok, Essien Amos Ukpe, Eno Gregory Ukpong

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Abstract

This study investigated the effect of corporate governance on financial performance in Nigeria by employing samples from non-finance firms that are listed the floor of the Nigerian Exchange Group for the period 2012-2021. In this study, board size (BODS), board independence (BODI), and board diligence (BODD) were the corporate governance proxies employed in this study. Similarly, corporate financial performance was measured in terms of Altman Z-Score (ZSCO). The population of the study consisted of all the listed non-finance firms and purposive sampling technique was employed to select 70 out of 109 companies. The panel fixed and random effect regression analyses were employed to test the hypotheses of the study. The results obtained from the regression model revealed that board size, board diligence, significantly affect the financial performance of listed firms in Nigeria. However, board independence seemed not to have any significant effect on the financial performance of listed firms in Nigeria during the period under

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尼日利亚上市公司治理与财务绩效研究z分数的方法

本研究通过采用2012-2021年期间在尼日利亚交易所集团上市的非金融公司的样本，调查了公司治理对尼日利亚财务绩效的影响。在本研究中，董事会规模(BODS)、董事会独立性(BODI)和董事会尽职(BODD)是本研究中采用的公司治理代理。同样地，公司财务绩效是用Altman Z-Score (ZSCO)来衡量的。研究对象为所有非金融类上市公司，采用有目的抽样方法，从109家上市公司中选出70家。采用面板固定效应和随机效应回归分析对研究假设进行检验。回归模型的结果显示，董事会规模、董事会尽职对尼日利亚上市公司的财务绩效有显著影响。然而，董事会独立性似乎对尼日利亚上市公司在本报告所述期间的财务业绩没有任何显著影响

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Journal of Public Budgeting, Accounting and Financial Management Social Sciences-Public Administration

CiteScore

7.80

自引率

19.40%

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期刊介绍： Published four times a year, the Journal of Public Budgeting, Accounting & Financial Management (JPBAFM) is an international refereed journal which aims at advancement and dissemination of research in the field of public budgeting, accounting, auditing, financial and performance management. The journal is committed to be an outlet for rigorous conceptual and empirical works aimed at challenging and innovating the field of accounting, management and governance in entities operating in the public sphere or public-private sphere (territorial government entities, universities, schools, hospitals as well as state-owned enterprises, hybrid organizations, public and private partnerships, non-profit organizations, NGOs, etc.).

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