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BOARD CHARACTERISTICS AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

Akinlolu Adekunle Akinwumi & Lucky Onmonya

International Journal of Accounting & Finance Review2025https://doi.org/10.46281/q8jz8e82article
ABDC C
Weight
0.50

What the paper says

While global literature has established that board characteristics can influence firm performance, empirical evidence in the context of emerging markets like Nigeria remains inconclusive and often contradictory. This study examines the influence of some specific board characteristics on the financial performance of listed deposit money banks (DMBs) in Nigeria, incorporating audit quality as a control variable. The study is underpinned by the resource dependence theory, owing to the relationship between board characteristics and returns on equity which the study uses to proxy financial performance. Utilizing secondary data from thirteen listed deposit money banks in Nigeria, covering 2014 to 2023, the study employs a robust pooled regression for data analysis. The findings indicate that both board size and board independence exert a significant positive influence on the financial performance of Nigerian deposit money banks. Additionally, audit quality is found to have a significant positive effect on financial performance of deposit money banks in Nigeria. However, gender diversity does not have any effect on the financial performance of these banks. The findings of this study suggest that the ratio of independent directors to the total board size should be enhanced as a policy guideline to be instituted by the Central Bank of Nigeria. The findings also suggest that the regulator should mandate adequate board sizes to be maintained by banks. Furthermore, the findings suggest urging the shareholders to mandate a higher number of independent directors on boards during their annual general meetings.

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https://doi.org/https://doi.org/10.46281/q8jz8e82

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@article{akinlolu2025,
  title        = {{BOARD CHARACTERISTICS AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA}},
  author       = {Akinlolu Adekunle  Akinwumi & Lucky  Onmonya},
  journal      = {International Journal of Accounting & Finance Review},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.46281/q8jz8e82},
}

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.