Corporate Governance Financial Expertise and Exceptional Performance of Quoted Non-Financial Firms in Nigeria

Abstract

This study investigates the relationship between corporate governance, financial expertise, and the exceptional performance of quoted non-financial firms in Nigeria. The study utilizes secondary source panel data from 2005 to 2023 for 75 firms listed on the floor of the Nigerian Exchange Group (NGX). The results of the generalized methods of moments (GMM) regression indicated that all the variables of audit committee members with financial expertise (ACFE), board members with financial expertise (BFE), and CEOs with financial expertise (CEOFE) are positively significant with FPE. The study concludes that corporate governance financial expertise positively affects the exceptional performance of quoted non-financial firms in Nigeria. The study therefore recommends that management should maintain the current membership of the audit committee with financial expertise or consider increasing it to guarantee its effectiveness in improving the profitability of the firms, since ACFE has a positive and significant relationship with the exceptional performance of quoted non-financial companies in Nigeria.