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Board Characteristics And Corporate Performance: Evidence From The Nigerian Oil And Gas Companies

Author

Listed:
  • Simon Ayo ADEKUNLE

    (Department of Business Administration, Faculty of Management Sciences, University of Benin, Benin City, Nigeria)

  • Oghenovo Owigho OKERE

    (Deloitte & Touche LLP, Dallas, Texas)

  • Eseoghene KOKOGHO

    (Deloitte & Touche LLP, Dallas, Texas)

  • Loretta EZE

    (Deloitte & Touche LLP, Kansas City, Missouri)

  • Princess Eloho ODIO

    (Hossbridge Trent Limited, Lagos, Nigeria)

Abstract

This study investigated how board characteristics such as board size (BOSI), board independence (BOID), board gender diversity (BOGD), and board meeting (BOMT) impact the performance of the Nigerian oil and gas sector. Seven oil and gas firms were randomly selected, and data collected on the relevant variables for ten (10) years. Data were descriptively analysed using mean, standard deviation, skewness, and kurtosis, while a panel data model was used as the estimation technique. The study found that BOSI, BOID, and BOGD positively and significantly impact the performance of oil and gas firms in the country. Though the relationship between BOMT and the performance of oil and gas firms is positive, it was not statistically significant. It is, therefore, concluded that critical attention should be paid to board characteristics as they play critical role in monitoring the company's management, establishing strategic direction, and protecting the interests of shareholders and stakeholders. This study recommends that oil and gas firms maintain stipulated number of independent directors that could help sustain positive and significant association between board independence and performance of the sector.

Suggested Citation

  • Simon Ayo ADEKUNLE & Oghenovo Owigho OKERE & Eseoghene KOKOGHO & Loretta EZE & Princess Eloho ODIO, 2024. "Board Characteristics And Corporate Performance: Evidence From The Nigerian Oil And Gas Companies," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 9(1), pages 87-97, March.
    • Handle: RePEc:ora:jrojbe:v:9:y:2024:i:1:p:87-97
    DOI: http://doi.org/10.47535/1991ojbe184
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Board size; Board independence; Board gender diversity; Board meeting; Oil and gas firms.;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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