Risk Committee Attributes, Board Financial Expertise and The Market Performance of Industrial Good Firms in Nigeria

The study investigated how the risk management committee (RMC) attributes—size, independence, diligence, and financial expertise — influence the market performance (as quantified by the Q of Tobin) of listed industrial goods in Nigeria. The present research design was ex-post facto ‎, utilizing secondary data on 13 listed firms in Nigeria that manufacture industrial goods. The sample was of all 13 firms using a census sampling ‎method. The data used was back through the 14-year period between 2010 to 2023. Grasping ‎the use of descriptive as well as inferential statistics. The empirical test showed a significant ‎positive effect of size and independence of RMCs as having an effect that would improve the ‎quality of governance and investor confidence in the wider and more independent committee. On ‎the contrary, RMC diligence and financial knowledge proved to have major adverse effects, ‎meaning that too many gatherings and uncoordinated professional knowledge can slow down firm ‎valuation. Also, financial skills on the board play the negative moderating role, showing the ‎existence of overlaps in roles or inefficient governance when technical authority is ‎concentrated. This study established that although risk committee size and independence improve ‎market performance, undue diligence and expertise about financial matters are displayed by the ‎committee. The research advises firms to strive to have a balanced size of RMC, which will ‎promote healthy diversity of opinion without being inefficient‎.