EFFECT OF BOARD SIZE ON FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

This study examined the effect of board size on financial performance of listed deposit money banks in Nigeria. The ex post facto research design was adopted for the study with a population of fifteen (15) listed deposit money banks in Nigeria as listed by the Nigerian Stock Exchange in 2018. The entire population was used as the sample size of the study using the census approach. Data were retrieved from the published annual reports. Multiple regression analysis was used to test the formulated hypothesis computed with the aid of Stata13 statistical software. The study revealed a negative and insignificant effect of board size on return on assets. The study recommended that deposit money banks board should be majorly dominated by independent directors and board size should be in line with corporate size and activities.