BOARD OF DIRECTORS’ NATIONALITY AND FINANCIAL PERFORMANCE OF LISTED INSURANCE FIRMS IN NIGERIA

Abstract

This study examined board of director nationality and the financial performance of listed insurance firms in Nigeria.A sample of forty two listed insurance firms using the simple random sampling technique for the period 2010 t0 2021 was selected. The data was first subjected to robustness tests and then analyzed using descriptive statistics and the panel ordinary least squares (POLS) estimation method. Findings revealed that board nationality exerted a negative and non-significant impact on the insurance firms’ financial performance. While interlocking board membership was positive and not significant, board director reputation capital was positive and significant on the insurance firms’ financial performance. The study recommends that there is need for regulators to design a framework to checkmate the proportion of foreign directors’ inclusion in insurance firms’ board. Firms in Nigeria should be mandated to disclose proportion of board nationality as it will guide researchers in carrying out critical analysis for policy recommendations.