CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF LISTED REAL ESTATE FIRMS IN NIGERIA

Abstract

This research work is aimed at investigating the effect of corporate governance on financial performance of listed real estate firms in Nigeria. To achieve this purpose, a review of extant literature was made, and hypotheses were formulated. The population of this study consisted of nine (9) real estate firms listed in the Nigerian Exchange Group (NGX) for the period of 2015-2024, and ex post facto research design was adopted. Data for the study were analysed with mean and standard deviation while the formulated null hypotheses were tested at 5% level of significance using both the Pearson product moment coefficient of correlation, and ordinary least squares (OLS) regression analysis. The findings of the study revealed that board size and board gender diversity have positive correlations with financial performance but board diligence has a negative effect on the financial performance of listed firms in Nigeria. Based on the
findings generated from this study, it was recommended that: the size of corporate board of listed real estate firms should be increased but the increase should be a function of the size of the firms; management of listed real estate firms should reduce the number of board meetings in a year in order to have time for other productive business activities; and corporate board of listed real estate firms should not exceed 35% of women.