The Gender Impact of Governance on the Financial Performance of the Listed Large Firms in Nigeria

Abstract

This study investigates the importance of corporate governance to the performance of the firm and the implications of gender composition on the capital structure of Nigerian firms, using the panel data of large listed non-financial firms in Nigeria. The gender composition of Nigerian firms is dominated by male gender, with very few women in the board of companies. Capital structure was positively related to board compositions, while it was negatively related to board meetings, board size and gender composition. It was observed that the relationship between firm’s performance and board size is positive and statistically significant, while there is negative relationship between the firm’s performance and board composition, board meetings and gender composition .The small number of women on the board could not significantly affect the performance of the firm, therefore the need for change in board composition in favour of women.