CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF QUOTED NIGERIAN OIL AND GAS FIRMS
AMAH CLETUS OKEY
, ETUK< TABE EMMANUEL
Keywords: Corporate Governance, Financial Performance, Nigerian Oil and Gas Firms
ABSTRACT
This study focuses on the impact of corporate governance on the performance of quoted Nigeria oil and gas firms. It was observed that the lack of corporate governance mechanism have impact on the Return of Equity and the Return of Assets. The aim of the study was to investigate the influence of selected corporate governance mechanisms; Board Size, Board Composition and Board Executive Committees on the Performance of Nigeria Oil and gas firms using the proxies of Return of Equity (ROE) and Return of Assets (ROA). Using Secondary data from Nigeria stock Exchange, 10 quoted oil and gas firms’ financial Statements were evaluated with the aid of E-Views and regression analysis employed in analyzing the financial data. The results show that Board Size has a negative and significant effect on ROE, indicating that larger boards may hinder profitability due to bureaucratic inefficiencies. Board Composition (i.e., the mix of executive and non-executive directors) shows no significant impact on either ROE or ROA. Board Executive Committees have a positive and significant influence on ROE, highlighting the effectiveness of well-structured subcommittees in improving shareholder returns. None of the governance variables had a significant effect on ROA, suggesting that operational asset efficiency may be influenced more by external market factors than governance structures. This study contributes to the growing literature on corporate governance in emerging economies by providing sector-specific empirical evidence from the Nigerian oil and gas industry. It also introduces firm size as a moderating variable in the governance-performance relationship, while highlighting the differential impacts of governance variables on ROE and ROA. These insights can aid policymakers, investors, and academics in understanding the governance structures that most effectively drive performance in Nigeria’s energy sector.
"CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF QUOTED NIGERIAN OIL AND GAS FIRMS ", TIJER - TIJER - INTERNATIONAL RESEARCH JOURNAL (www.TIJER.org), ISSN:2349-9249, Vol.12, Issue 4, page no.827-864, April-2025, Available :https://tijer.org/TIJER/papers/TIJERTHE3058.pdf
Volume 12
Issue 4,
April-2025
Pages : 827-864
Paper Reg. ID: TIJER_157651
Published Paper Id: TIJERTHE3058
Downloads: 000357
Research Area: Management All
Country: Port Harcourt, Rivers, Nigeria
ISSN: 2349-9249 | IMPACT FACTOR: 8.57 Calculated By Google Scholar | ESTD YEAR: 2014
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.57 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: TIJER (IJ Publication) Janvi Wave
