EFFECT OF BOARD ATTRIBUTE ON PROFITABILITY OF LISTED AGRICULTURAL COMPANIES IN NIGERIA
Keywords:
Board Attributes, , Firm Profitability, Listed Agricultural Firms, Nigeria.Abstract
This study examined the effect of board attributes on profitability of listed agricultural companies in Nigeria. The study used a sample size of five (5) agricultural companies listed on the Nigerian Exchange Group (NGX) as at December 2023. Relevant data for the study was extracted from the annual reports and accounts of the sampled companies for a period of fourteen (14) years (2010-2023). The data generated was analyzed using descriptive statistics, Correlation matrix, Ordinary Least Square (OLS) and Generalized Least Square (GLS) regression. The findings reveal that board size, board gender diversity and board meeting have significant effect on profitability of listed agricultural companies in Nigeria while board composition has insignificant effect on profitability. The study therefore recommended that board size should be maintained at an average size in order to optimize firm performance. More so, management should increase as much as possible the board size bearing in mind Nigeria Securities and Exchange Commission corporate governance Code requirement of minimum of five and maximum of fifteen members. Also, both gender (male and female) should be appointed into board of directors providing that they are qualified and willing to serve. However, the optimal board size in relation to the scale of the firm’s operation and legal provisions should always be taken into consideration in deciding the ultimate board size.
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