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Do Women Board Directors Contribute To The Financial Performance Of Listed Firms? Insights From Nigeria

Author

Listed:
  • Sunday Oseiweh OGBEIDE

    (Department of Accounting and Finance,Faculty of Humanities,Social and Management Sciences,Elizade University,Ilara- Mokin,Ondo State,Nigeria)

  • Grace.N.ABUTU

    (Department of Leisure and Tourism Management,Federal Polytechnic,Idah, Kogi State,Nigeria.)

Abstract

This study examined the effect of women board directors on the financial performance of listed firms in Nigeria in the reference period 2015 to 2020. The population of the study consists of all the quoted firms as at 31st December, 2020. A sample of eight seven (87) quoted firms in the non -financial sector was selected and data were collected over the period. Inferential statistics consisting of the General Method of Moment were used for the data analysis. The findings from the analysis showed that the proportion of women board members exerted a negative and non-significant effect on the financial performance of the sample firms. Board nationality, however, exerted a positive and insignificant effect on the firm’s finance performance in the reference period. The study concludes that while women board directors have no significant effect on firm financial performance, board nationality does. Based on the empirical findings obtained, the study recommends that the regulatory authority needs to come up with a policy to respond to the marginalization of females on the board of listed firms in Nigeria. The aim of this policy thrust should be targeted at reducing politics and biass against women on the corporate boards of listed insurance firms.

Suggested Citation

  • Sunday Oseiweh OGBEIDE & Grace.N.ABUTU, 2022. "Do Women Board Directors Contribute To The Financial Performance Of Listed Firms? Insights From Nigeria," Romanian Journal of Economics, Institute of National Economy, vol. 54(1(63)), pages 113-125, June.
    • Handle: RePEc:ine:journl:v:54:y:2022:i:63:p:113-125
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    References listed on IDEAS

    as
    1. Adams, Renée B. & Ferreira, Daniel, 2009. "Women in the boardroom and their impact on governance and performance," Journal of Financial Economics, Elsevier, vol. 94(2), pages 291-309, November.
    2. Kevin Campbell & Antonio Mínguez-Vera, 2008. "Gender Diversity in the Boardroom and Firm Financial Performance," Journal of Business Ethics, Springer, vol. 83(3), pages 435-451, December.
    3. Austin UJUNWA & Chinwe OKOYEUZU & Ifeoma NWAKOBY, 2012. "Corporate Board Diversity and Firm Performance: Evidence from Nigeria," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(4), pages 605-620, October.
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    More about this item

    Keywords

    women board directors; board nationality; firm size; financial performance.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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