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ABSTRACT
The study examined the relationships between free cash flow and earnings management with corporate governance as a moderating factor among quoted firms in Nigeria. It specifically investigated the moderating effect of board size, independent board of directors, audit committee size and ownership structure on the relationship between free cash flow and earnings management among Nigerian listed companies. The study adopted the ex-post facto research design. The sample consisted of eighty-nine (89) non-financial companies listed on the Nigerian Exchange Group between the periods of eight-financial years (2015-2022). The secondary data were extracted from the published annual reports and accounts of the sampled companies. The data were analysed using descriptive statistics, correlation analyses and panel regression analysis. The result showed that there is a positive relationship and significant effect between free cash flow and earnings management. It was also observed that free cash flow and earnings management are positively related to each other in the presence of corporate governance mechanism. The outcome of the regression showed that independent board of directors, board size, audit committee size and ownership structure have no moderating effect between free cash flow and earnings management are associated in the presence of corporate governance among quoted firms in Nigeria stock exchange.
