IMPACT OF BOARD ATTRIBUTE ON FIRM VALUE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

This study examines the impact of board of directors’ characteristics on firm value of listed deposit money banks in Nigeria using the correlational research designed. The population of the study consist of fourteen (14) listed deposit money banks on the Nigerian Exchange Group. However, using the census approach only ten (10) banks were selected and utilized as sample of the study. Secondary source of data was employed for the purpose of this study with STATA as tool of analysis. Statistical tools such as descriptive, correlation and regression analysis were used to analyze the data collected in order to arrive at a logical conclusion. The findings of the study revealed a negative and significant relationship between board independence and firm value. However, a negative and insignificant relationship was found between board size and board gender diversity on firm value of listed deposit money banks in Nigeria. The study recommends among others that the management of listed deposit money banks in Nigeria should aim to optimize board size to balance the benefits of diverse expertise and effective decision-making, rather than expanding the board size indiscriminately and they should also focus on the quality and specific skills of the board members. This can be achieved through conducting a thorough review of the current board size and assess the effectiveness of communication and decision-making processes.