Title: CORPORATE GOVERNANCE MECHANISMS ON THE FINANCIAL PERFORMANCE OF AGRICULTURAL FIRMS IN NIGERIA: THE MODERATION EFFECT OF AUDIT COMMITTEE ATTRIBUTES

Authors: Salawudeen Aishat and Falade, Taiwo Damilola

Abstract: This study examined the corporate governance mechanisms and financial performance of agricultural firms in Nigeria, with a focus on the moderating effect of audit committee attributes. The study adopts an ex post facto research design. The population of the study was made up of five (5) agricultural firms listed on the Nigerian Exchange Group (NGX) as at 31st December, 2023. The sample size for this study was the same five (5) listed five (5) agricultural firms listed in Nigeria. The study covers a period of ten (10) years from 2014 to 2023. Secondary data were sourced from the financial reports and accounts of the five (5) listed agricultural firms, which were analysed using both descriptive and inferential statistics. Inferentially, the panel multiple regression method was employed at a 0.05 significance level. The study findings show that Board composition insignificantly affects the financial performance of agricultural firms in Nigeria. Board independence and board meetings have a significant positive impact on the financial performance of agricultural firms in Nigeria. Audit committee attributes moderate the effect of corporate governance on the financial performance of agricultural firms in Nigeria. Consequently, this study recommended that corporate governance mechanisms should be enhanced to align the interests of shareholders and management.

Keywords: Corporate Governance Mechanisms, Financial Performance, Consumer Goods Firms.

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