Effect of Audit Committee Characteristics on Firm Value of Listed Non-Financial Companies in Nigeria

This study examined the effect of audit committee characteristics on value of listed non-financial companies in Nigeria over the period 2014 to 2023. Utilizing an ex-post facto research design, the research analysed secondary data extracted from the annual reports of 107 companies listed on the Nigerian Exchange Group. Panel regression technique was used to assess the effect between audit committee attributes, such as size, independence, financial expertise, and gender diversity and value of listed nonfinancial companies in Nigeria. The findings indicated that audit committee independence has a positive and significant effect on firm value of listed nonfinancial companies in Nigeria. Conversely, audit committee size and financial expertise revealed negative but statistically insignificant relationships with value of listed nonfinancial companies in Nigeria. Gender diversity within the audit committee showed a positive but non-significant association with value of listed nonfinancial companies in Nigeria. Based on these findings, the study recommended among others that nonfinancial companies in Nigeria should establish policies for the periodic rotation of audit committee members to introduce fresh insights and maintain objectivity in oversight functions.