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Author(s): Gift O. Eke (Ph.D).

Volume/Issue: Volume 5 , Issue 1 (2022)

Abstract:

This study investigated the association between board attributes and corporate governance soundness in listed oil and gas companies in Nigeria. The study adopted the ex post facto research design since it was a secondary data research. The twelve (12) oil and gas companies listed on the Nigerian stock exchange between 2010 and 2018 constituted the population of the study. A census of the entire population was done since the population was small. Content analysis was used to extract data required for the study from the audited financial statements of the listed oil and gas companies that were sampled. Analysis of data was done using descriptive statistics and the hypothesis postulated was tested using correlation and multiple regression statistics. The study revealed that there is no significant association between board attributes and corporate governance soundness in listed oil and gas companies in Nigeria given the weak average coefficient of correlation of 36.8 percent. The study further revealed that board attributes influence corporate governance soundness by only 14.5 percent. Given the findings of the study, it is concluded that board attributes (board independence, board size and board meetings) correlate positively, albeit insignificantly, with corporate governance soundness. One of the recommendations made was that the board of directors of listed oil and gas companies in Nigeria should continually rally round, and be committed to involving, the various stakeholders in corporate governance in the governance process.

Keywords:

Board Attributes, Board of Directors, Corporate Governance, Corporate Governance Soundness.

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