CORPORATE GOVERNANCE AND FIRM VALUE

ABSTRACT

This study focused on empirically estimating the relationship between corporate governance management and the firm value of deposit money banks in Nigeria. Twelve (12) deposit money banks were used in this study. Five variables such as; Tobin Q, board meeting, board size, board gender as well as board independence were used in this study. The data used ranges from 2013 to 2022 across 12 deposit money banks in Nigeria. And the number of observation is (12 insurance firms times 10 years) 120. This study used the panel regression technique. It was revealed that: board meeting has a negative and not significant impact on the value of deposit money banks; board size has a negative and significant impact on the value of deposit money banks in Nigeria;board gender diversity has a negative and not significant impact on the value of deposit money banks in Nigeria; and that board independence has a negative and not significant impact on the value of deposit money banks in Nigeria. Based on these findings, it was recommended that: deposit money bank should reduce the frequency of their meeting because of the high cost implication to the value of the banks; top management of the deposit money banks should reduce the number of directors in the board to enhance it efficiency; banks should encourage gender balance in the board to enhance the value of the deposit money banks; and bank should encourage the independence of the board through it nomination process and avoid undue control over board activities.