Corporate Governance Mechanisms: The Determinants of Listed Firm Performance in Nigeria

Abstract

We investigate therelationship between the corporate governance mechanisms and listed firms Performanceusing dynamic panel data for 101 firms listed on Nigeria Stock Exchange exceptfinance Sector over, through a period 2005 to 2015. We found the resultmaintain a positive and significant relationship  with board size and changing board memberwith market performance. It imply that board size should  be increase, change board member should alsoincrease to advantage of market performance. However, woman board member, auditindepent, board independent, ownership concentration, and gross domesticproduct have negative and significant relationship with market performance.Also, change board member, ownership concentration, and firm size showsignificant and positive relationship with accounting performance. These implythat they can be used to enhanced account performance in time of economic downturn. On other hand, woman board member, board size, audit committee independent,board independent, firm age and gross domestic product show negativesignificant accounting performance. Which imply that regulator and professionalcan reduced to achieve accounting performance. Moreover, foreign ownershipshows no significant with either market or financial health performance.Keywords: corperate governace, change board member, firmperformance, list firm