Abstract
The main objective of this study is to analyze the relationship between board characteristics and firm performance, with a focus on the employees at selected banking industry in Benin City. The main objective was broken down into four objectives, that is to determine the relationship between board size and firm performance, investigate the relationship between board diligence and firm performance, examine the relationship between board gender diversity and firm performance and investigate the relationship between board independence and firm performance.
This study used a descriptive survey research design. With an indefinite population size, the study used convenience sampling and administered questionnaires to a population sample consisting of the employees of selected banks industry in Benin City, Edo State, Nigeria.
The study emphasizes crucial factors influencing firm performance through board dynamics. Firstly, there's a positive link between board size and performance, suggesting a need to optimize board composition for effective decision-making. Secondly, board diligence significantly impacts performance, highlighting the importance of active engagement and informed oversight. Thirdly, promoting gender diversity on boards correlates positively with performance, enriching decision-making with diverse perspectives. Lastly, maintaining board independence fosters objective decision-making and mitigates conflicts of interest, contributing to overall firm performance.
