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Effect of Board Meeting Frequency and Board Industry Experience on the Financial Performance of Listed ICT Companies in Nigeria

Mohammed Akaro Mainoma Abdulkarim Shaibu Alhassan Mathias Ifeanyi Igweka

Abstract

Firm performance is a critical measure of organizational success, often shaped by corporate governance practices, particularly the effectiveness of the board of directors. This study investigates the effect of board meeting frequency and board industry experience on the performance of ICT firms listed on the Nigerian Exchange Group from 2015 to 2024. Using a census of eight listed ICT firms and employing panel data analysis with the Generalized Method of Moments , the study also controls for firm size (FS) and leverage . The results indicate that board industry experience significantly affects performance, while board meeting frequency does not have a statistically significant effect on performance. The study also finds that larger firms perform better, whereas higher leverage negatively affects profitability. These results underscore the importance of board expertise and prudent governance practices in improving firm performance. The study recommends that ICT firms prioritize industry-relevant board appointments, focus on meaningful board engagement, to achieve sustainable financial growth.

Keywords

Board characteristicsBoard Meeting FrequencyBoard industry ExperienceFirm Performance

References

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