Effect of board characteristics on the performance of listed food and beverages firms in Nigeria

This study examined the Effect of Board Characteristics on the performance of listed food and Beverages firms in Nigeria. The study adopted ex-post facto research design which relied on secondary data collected from the financial statements of thirteen (13) firms out of fourteen (14) listed food and Beverages firms in Nigeria for the period of 2009 to 2015. Correlation and Regression were used to analyse the data. The results indicated that Board Composition and Board size shows significant relationship with Return on Assets of the sampled firms at 10% and 1% respectively. This shows that there is positive level of firm’s performance by food and beverage in Nigeria. Managerial ownership shows insignificant relationship with Return on Assets.. The firm size which is the control variable shows no significant association with firms performance. This shows that not all the firms comply with the corporate governance code guideline. It is concluded that Board size and board composition are important factors which can enhance Return on Assets of food and Beverages firms listed in Nigeria. This is because both show positive significant relationship with Return on Assets of the sampled firms. It is therefore, concluded that larger Board sizes are more likely to be more effective than smaller Board sizes because of various sex parties and experience of those involved. It is recommended that larger board size should be used by food and Beverages firms listed in Nigeria, so as to enhance Return on Assets of the firm, because more hands and experts with vast experience gives better return on assets of the firm.