CORPORATE GOVERNANCE AND NON-FINANCIAL PERFORMANCE OF FIRMS IN NIGERIA

Abstract: Prominence has being on the influence of corporate governance (CG) and firm’s financial performance (FP) without much consideration on other performance indicator as a result of the execution of corporate codes and conducts (CCC). This study examined the impact of CG and non-financial performance (NFP) of companies in Nigeria. Secondary data of the sampled banks were obtained from Nigeria exchange groups (NGX) for a period of 20 years. Ranked ordered logit regression estimation analysis was adopted through Stata version 13. Model 1and 2 revealed that the foreign manager (FMG), board size (BSZ), board composition (BCM), institutional ownership (ISO), audit committee (AUC), audit committee report (ACR), have positive substantial influence on corporate performance (CPF) and internet financial reporting (IFR). While, chief executive officer (CEO) have negative but substantial influence on CPF but insignificant on IFR. Also, managerial ownership (MSO) have positive substantial influence on CPF but not insignificant with IFR. It concludes that CG does not only influence FP of firms but also NFP as well. Therefore, it recommends that banks in Nigeria can even in the face of many challenges and limitations, implementing effective corporate governance practices can enhance non-financial performance, investor confidence, and economic growth.