IDEAS home Printed from https://ideas.repec.org/a/bjc/journl/v10y2023i11p466-480.html
   My bibliography  Save this article

Effect of Board Gender Diversity on Financial Performance of Quoted Deposit Money Banks in Nigeria

Author

Listed:
  • John Abuh Oyidih

    (Nasarawa State University Keffi Nigeria)

Abstract

The effect of board diversity, like, gender, ethnicity, etc on financial performance have been widely studied. However, very few research have been carried out in the area of the the effect of religion diversity on financial performance. This study examines the effect of board religion diversity on financial performance of quoted deposit money banks in Nigeria. The population comprises of all the deposit money banks in Nigeria while thirteen (13) quoted deposit money banks were sampled based on their being listed on the Nigerian Exchange Limited all through the study period of 2010 to 2021. The data were analyzed using Shapiro-Wilk Normality, Pearson correlation, Heteroskedasticity Breusch-Pagan Test and Breusch-Pagan Lagrangian Multiplier Test while hypotheses were tested using Pooled Ordinary Least Square regression model. The results show that religion diversity (RD) has a significant positive effect on financial performance (proxied by return on assets (ROA)) of quoted deposit money banks in Nigeria for the period under review. The study recommends that the regulators – Central Bank of Nigeria (CBN) and boards of deposit money banks in Nigeria should encourage different religious practices on the boards of banks to enhance their financial performance in Nigeria.

Suggested Citation

  • John Abuh Oyidih, 2023. "Effect of Board Gender Diversity on Financial Performance of Quoted Deposit Money Banks in Nigeria," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 10(11), pages 466-480, November.
    • Handle: RePEc:bjc:journl:v:10:y:2023:i:11:p:466-480
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijrsi/digital-library/volume-10-issue-11/466-480.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijrsi/articles/effect-of-board-religion-diversity-on-financial-performance-of-quoted-deposit-money-banks-in-nigeria/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. Claudiu BOCEAN & Catalin M. BARBU, 2007. "Corporate Governance And Firm Performance," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 5(1), pages 125-131, November.
    3. Jenkinson, Tim & Mayer, Colin, 1992. "The Assessment: Corporate Governance and Corporate Control," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 8(3), pages 1-10, Autumn.
    4. Muhammad Ali & Yin Ng & Carol Kulik, 2014. "Board Age and Gender Diversity: A Test of Competing Linear and Curvilinear Predictions," Journal of Business Ethics, Springer, vol. 125(3), pages 497-512, December.
    5. 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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. John Abuh Oyidih, 2023. "Effect of Board Gender Diversity on Financial Performance of Quoted Deposit Money Banks in Nigeria," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 10(11), pages 442-456, November.
    2. Rekha Handa, 2021. "Does Presence of Foreign Directors Make a Difference? A Case of Indian IPOs," Business Perspectives and Research, , vol. 9(1), pages 111-127, January.
    3. Stephen Gray & John Nowland, 2017. "The diversity of expertise on corporate boards in Australia," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(2), pages 429-463, June.
    4. Hiroaki Niikura & Miki Seko, 2020. "The effect of inside and outside female directors on firm performance: comparison of the First section, Second section, Mothers, and Jasdaq in the Tokyo Stock Exchange Market," International Journal of Economic Policy Studies, Springer, vol. 14(1), pages 123-166, February.
    5. Anne Marie Ward & John Forker, 2017. "Financial Management Effectiveness and Board Gender Diversity in Member-Governed, Community Financial Institutions," Journal of Business Ethics, Springer, vol. 141(2), pages 351-366, March.
    6. Nooraisah Katmon & Zam Zuriyati Mohamad & Norlia Mat Norwani & Omar Al Farooque, 2019. "Comprehensive Board Diversity and Quality of Corporate Social Responsibility Disclosure: Evidence from an Emerging Market," Journal of Business Ethics, Springer, vol. 157(2), pages 447-481, June.
    7. Aggarwal, Raj & Jindal, Varun & Seth, Rama, 2019. "Board diversity and firm performance: The role of business group affiliation," International Business Review, Elsevier, vol. 28(6), pages 1-1.
    8. Simon Rafaqat & Sahil Rafaqat & Saoul Rafaqat & Dawood Rafaqat, 2022. "The Impact of Workforce Diversity on Organizational Performance: A Review," Journal of Economics and Behavioral Studies, AMH International, vol. 14(2), pages 39-50.
    9. Sharma, Amalesh & Moses, Aditya Christopher & Borah, Sourav Bikash & Adhikary, Anirban, 2020. "Investigating the impact of workforce racial diversity on the organizational corporate social responsibility performance: An institutional logics perspective," Journal of Business Research, Elsevier, vol. 107(C), pages 138-152.
    10. Samuel Benjamin & Mansi Mansi & Rakesh Pandey, 2020. "Board gender composition, board independence and sustainable supply chain responsibility," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(4), pages 3305-3339, December.
    11. Akshita Arora, 2022. "Gender diversity in boardroom and its impact on firm performance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(3), pages 735-755, September.
    12. Diana Denisse Mendoza Quintero & Guadalupe del Carmen Briano Turrent & María Luisa Saavedra García, 2018. "Diversidad de género en posiciones estratégicas y el nivel de endeudamiento: evidencia en empresas cotizadas mexicanas," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 13(4), pages 631-654, Octubre-D.
    13. Lonkani, Ravi, 2019. "Gender differences and managerial earnings forecast bias: Are female executives less overconfident than male executives?," Emerging Markets Review, Elsevier, vol. 38(C), pages 18-34.
    14. María Isabel Delgado-Piña & Óscar Rodríguez-Ruiz & Antonio Rodríguez-Duarte & Miguel Ángel Sastre-Castillo, 2020. "Gender Diversity in Spanish Banks: Trickle-Down and Productivity Effects," Sustainability, MDPI, vol. 12(5), pages 1-18, March.
    15. Rakesh Pandey & Pallab Kumar Biswas & Muhammad Jahangir Ali & Mansi Mansi, 2020. "Female directors on the board and cost of debt: evidence from Australia," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(4), pages 4031-4060, December.
    16. Suss, Joel & Angeli, Marilena & Eckley, Peter, 2021. "Gender, age and nationality diversity in UK banks," Bank of England working papers 929, Bank of England.
    17. Augustine Donkor & Terri Trireksani & Hadrian Geri Djajadikerta, 2023. "Board Diversity and Corporate Sustainability Performance: Do CEO Power and Firm Environmental Sensitivity Matter?," Sustainability, MDPI, vol. 15(23), pages 1-24, November.
    18. Walid Ben-Amar & Millicent Chang & Philip McIlkenny, 2017. "Board Gender Diversity and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project," Journal of Business Ethics, Springer, vol. 142(2), pages 369-383, May.
    19. Collins Ntim, 2015. "Board diversity and organizational valuation: unravelling the effects of ethnicity and gender," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(1), pages 167-195, February.
    20. Maria Giuseppina Bruna & Rey Dang & L'Hocine Houanti & Jean-Michel Sahut & Michel Simioni, 2022. "By what way women on corporate boards influence corporate social performance? Evidence from a semiparametric panel model," Post-Print hal-03693781, HAL.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjc:journl:v:10:y:2023:i:11:p:466-480. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Renu Malsaria (email available below). General contact details of provider: https://rsisinternational.org/journals/ijrsi/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.